BuyingTime Daily - November 18, 2025
Watch market climbs toward record highs, tariffs ease, Zodiac hits Ross, Richemont surges, and a Grand Lange 1 Moon Phase emerges as today’s standout auction play.
Time Graphing today’s watch universe
Time Graphing Today’s Watch Universe — November 18, 2025
The WatchCharts Overall Market Index is gliding into the week with the kind of calm, steady confidence collectors have been craving all year. Closing at 40,929 as of November 15, the index is now perched at the top of its 12-month range and up 1.2% for the month. After bottoming out in March, the market has staged a well-paced recovery—no fireworks, no lurches, just a reassuring climb that now sits only a whisper below all-time highs. Short-term returns look healthy, longer-term numbers remind us of the post-pandemic unwinding, and the mood heading into year-end feels more like conviction than speculation. In other words, buyers are back—maybe not in a frenzy, but certainly with purpose.
The tariff saga that has kept Rolex, Richemont, and the rest of Switzerland awake at night is finally softening. The new U.S.–Swiss arrangement lowers duties to 15%, offers reciprocal concessions, and comes packaged with a promise of $200 billion in Swiss investment in the U.S. over the next three years. It’s not pre-April serenity, but it’s enough relief to steady nerves across the luxury-watch ecosystem. Call it détente with a training-program bow on top.
Meanwhile, Zodiac has become the unofficial mascot of “The Great Rossening,” with collectors stumbling upon Super Seawolfs for pocket change at Ross and Winners. It’s half treasure hunt, half brand-management crisis, and entirely entertaining. Enthusiasts are loving the bargains; analysts are side-eyeing Fossil’s balance sheet.
Fresh earnings from Richemont sent the stock up 8%, powered by strong jewelry sales and a long-awaited rebound in Asia. The specialist watchmakers are still slipping modestly, but far less than before—an incremental win is still a win. Across the value end of the spectrum, Citizen and Bulova continue their hot streak with double-digit growth in North America and Europe, proving that great specs at digestible prices remain the most recession-proof strategy in watch retail.
In the auction world, mid-century Cartier is about to have its moment at Dreweatts with a spotlight on London-era Tanks—always catnip for collectors who like their glamour understated and their provenance impeccable. And the Horological Society of New York has booked The Plaza for its 160th anniversary gala, complete with a F.P. Journe lifetime achievement award and a Sotheby’s charity auction. Expect tuxedos, a lot of “oohs,” and a surprising amount of serious fundraising.
Feature stories today swing from the towering historical prestige of the Patek Philippe 1518—still setting new records and collector heart rates—to an opinion piece reminding everyone that quartz is not a character flaw. There’s also a thoughtful call to strengthen American watchmaking by building skills first and factories later, plus a sharp profile on Antoine Pin’s energetic strategy at TAG Heuer. Independent watchmaking takes center stage at Phillips Hong Kong, with heavyweights like Daniel Roth, Paul Gerber, and Philippe Dufour anchoring one of the strongest niche catalogs of the year.
New releases continue to flow: Angelus teams up with Massena LAB for a vintage-leaning chronograph and adds an orange-accented flying tourbillon for good measure. Avoirdupois debuts a genuinely American-made integrated-bracelet watch, Certina, Hanhart, Jaeger-LeCoultre, Nezumi, Orient Star, Squale, and Vaer all arrive with compelling updates at price points ranging from “attainable” to “start saving.” On the review front, everything from A. Lange & Söhne’s razor-elegant Saxonia Thin Onyx to Doxa’s long-term Sub 300 experience gets thoughtful wrist-time analysis.
Buying Time at auction today includes two Langes: Monday’s A. Lange & Söhne Double Split stalled at $29,600 without meeting reserve, making it a classic “make an offer” candidate. And tonight’s 2015 A. Lange & Söhne Grand Lange 1 Moon Phase (139.032) is currently sitting at $16,400, a tantalizing entry point for a reference that routinely trades in the low-to-mid-$30Ks. With full box and papers and a strong market history, it stands out as one of the smarter buys of the week if bidding stays disciplined. The auction closes at 6:00 pm Eastern.
More news, more watches, and more momentum—today’s universe feels active and strangely optimistic for November.
News Time
The WatchCharts Overall Market Index continues its steady, confidence-building climb, closing at 40,929 as of November 15, 2025. That’s a 1.2% gain over the past month and +498 points over the past year, putting the index at the very top of its 12-month range (39,337–40,931). After bottoming out in March 2025 near the 39,300 level, the market staged a durable, almost uninterrupted recovery through late spring and summer, followed by a sharper acceleration from August into the fall.
The chart shows a healthy upward trajectory with only mild volatility—suggesting buyers have returned with more conviction than in early 2025, when the market was still searching for a floor. Short-term performance is broadly positive: +1.9% over three months and +2.7% over six months, indicating momentum has been building rather than blipping. Long-term numbers are more mixed, with the 2-year window still negative (-3.3%), reminding us how far the market fell from its late-pandemic highs, while the 5-year figure remains strongly positive (+12.6%), reflecting the long-cycle expansion of the secondary luxury-watch market.
Overall, the index now sits just shy of its all-time peak, confirming that watch prices—at least for the top 300 models tracked—have stabilized and resumed a measured upward trend heading into the end of 2025. Buyers appear selective but engaged, and the market has regained enough strength to suggest confidence rather than speculation is driving current levels.
The Trump Swiss Tariff Saga with Rolex and Richemont
U.S.–Swiss negotiations yielded a reduction of U.S. tariffs on Swiss imports to 15%, aligning with European averages and easing pressure on the watch trade. In return, Switzerland will reduce duties on a range of U.S. products and grant duty‑free quotas on selected agricultural exports. Swiss companies also plan to invest $200 billion in the U.S. by 2028, with a focus on vocational training. The package is intended to stabilize bilateral trade, even though overall tariffs remain higher than pre-April levels.
Amidst “The Great Rossening,” Zodiac Watches Turn Up at Discount Stores
Zodiac watches are surfacing at deep discounts in off-price chains like Ross and Winners, with collectors reporting finds up to 85% off retail and a Super Seawolf bought for $125. The markdown wave, dubbed “The Great Rossening,” has spurred a treasure hunt while fueling worries about the brand’s health under Fossil’s heavy debt load. Despite the brand image risk from steep clearance, enthusiasm among collectors shows resilient demand. Zodiac’s future may hinge on Fossil’s restructuring and whether the brand remains a core focus.
Richemont shares rise 8% on positive Q2 financials
Richemont posted 14% Q2 sales growth at constant exchange rates and €10.6 billion in first-half sales, sending shares up 8% and 15% over the month. Jewellery maisons led with 17% growth, while specialist watchmakers fell 2%, an improvement from a 7% drop in the prior quarter. Chairman Johann Rupert cited strength in Europe, the Americas, and the Middle East, with China, Hong Kong, Macau, and Japan returning to growth. He remained cautious on uncertainty, noting the wide profit gap between jewellery and watchmaking divisions.
Citizen and Bulova watch sales soar in America and Europe
Citizen and Bulova grew watch sales 17% in North America and 12% in Europe in Q2 2026, countering declines at Swiss luxury peers. Citizen’s April–September revenue rose 4.2% to ¥89.3 billion, powered by premium Promaster and Series 8 launches despite a stronger yen at home. Average transaction values are up 30% since 2021 and 10% year over year, supported by a value‑forward strategy and strong retail partnerships over a pure DTC pivot. Leadership credits “extraordinary quality at fair prices” for share gains amid macro headwinds.
Cartier ‘it’ watches spotlighted in upcoming Dreweatts auction
Dreweatts will spotlight mid‑century Cartier London creations that reflect the inventive spirit of the New Bond Street workshop. Highlights include a 1967 Tank Louis in 18K gold (est. $19,700–$26,300), a 1968 Tank (est. $13,200–$19,700), and a 1976 Tank Ref. 184 with Jaeger‑LeCoultre collaboration (est. $10,500–$15,800). The curated group underscores Cartier London’s design agility and craftsmanship, now keenly sought by collectors. The auction runs online on November 20 at 10:30 AM GMT.
Happenings: The Horological Society Of New York To Celebrate 160 Years With Milestone Gala At The Plaza Hotel
HSNY will mark its 160th anniversary with a black‑tie gala at The Plaza Hotel on March 21, 2026, honoring its mission to advance horology. The evening features celebrity co‑chairs, a lifetime achievement award for François‑Paul Journe, and a Sotheby’s charity auction to support scholarships. HSNY plans to triple scholarship funding and add a new grant for independent watchmakers. An after‑party with DJ and dancing will cap the celebration.
Feature Time
What To Know About The Patek Philippe 1518 — And The New Record-Breaking Sales
Introduced in 1941 as the first serially produced perpetual calendar chronograph wristwatch, the Patek Philippe 1518 remains one of the most coveted vintage models. Only 281 pieces were made, with just four known in stainless steel, and recent auctions have pushed prices to record levels, including a rumored reserve at $20 million and a sale at $17.6 million. Even amid broader vintage market cooling, the 1518’s technical significance and rarity sustain its status and value. Its design and mechanics also influenced later Patek chronographs, reinforcing its place as a cornerstone of collecting.
Five things I just don’t understand about watches
This reflection explores five perplexities in collecting: wanting more watches despite owning several, the allure and frustration of waitlists, and the mistaken belief that bigger equals better. It challenges the stigma against quartz, highlighting their innovation and engineering. The piece argues that buying to impress others often backfires and urges collectors to follow personal taste over hype. Overall, it’s a call to enjoy watches on one’s own terms.
CORDER’S COLUMN Make American Watchmaking Great Again
A new U.S.–Switzerland trade deal lowering tariffs has sparked debate on whether Swiss brands could invest in American manufacturing and training. The column argues that revitalizing U.S. watchmaking requires long-term planning, vocational programs, and a pipeline of skilled workers, not just talk of factory moves. With few training seats and heavy reliance on imported parts today, a skills-first approach could improve service lead times and quality. If executed, the shift could prove that top-tier watchmaking isn’t exclusive to Switzerland.
Antoine Pin of TAG Heuer
Since becoming CEO in September 2024, Antoine Pin has accelerated TAG Heuer’s momentum with new sponsorships, a “Designed to Win” campaign, and product pushes. The brand became Official Timekeeper for Formula 1 and launched new Formula 1 models with Solargraph tech and TH‑Carbonspring innovations. Pin emphasizes balancing accessibility with meaningful innovation to navigate currency and geopolitical headwinds. His strategy maintains TAG Heuer’s identity while broadening appeal to younger and performance‑minded buyers.
Highlights: Independent Watchmaking at Phillips Hong Kong Fall 2025
The November auction showcases standout independents, especially from the 1990s, led by Daniel Roth’s Ref. 2187 Tourbillon “Double Face” and Paul Gerber’s Ref. 152 Retrograd. Philippe Dufour’s Simplicity 37 mm in pink gold with a dark grey dial is a marquee lot with multi‑million estimates. Rare Patek Philippe travel‑time references and F.P. Journe’s Répétition Souveraine “Black Label” add depth to the catalog. The preview runs November 15–23, with sales from November 21–23 at West Kowloon Cultural District.
The New Age of Integrated Bracelets
Tracing the lineage from Gérald Genta’s seminal 1970s designs to today, this feature spotlights five modern integrated-bracelet benchmarks. Highlights include the Louis Vuitton Tambour, Bvlgari Octo Finissimo Automatic Titanium, H. Moser & Cie. Streamliner Tourbillon Skeleton, Czapek Antarctique Passage de Drake Glacier, and Girard‑Perregaux Laureato FIFTY. Each model demonstrates holistic case‑to‑bracelet design that enhances comfort and visual unity. A companion video examines why these bracelets feel so “right” on the wrist.
Best affordable dive watches
A curated list of eleven dive watches under $5,000 showcases robust specs with wearable style. Picks range from the Seiko SNJ025 “Arnie” and Baltic Aquascaphe Classic to the Hamilton Khaki Navy Frogman and Mido Ocean Star Decompression Worldtimer. Zodiac, Rado, TAG Heuer, and Tudor also appear, balancing heritage with modern utility. The guide underlines versatility for daily wear and real-world diving.
WU25 Panel: Worn & Wound Contributors Discuss Trends and Watch Culture
Panelists Brett Braley‑Palko, Meg Tocci, and Griffin Bartsch explore how personal backgrounds and working in watch media shape collecting. They discuss evolving tastes, the emotional pull of tools like watches and pens, and the value of community. The conversation highlights how exposure refines preferences and deepens appreciation beyond hype. It’s an inside look at how collectors grow with the hobby.
The Latest Time
Angelus
Angelus Chronographe Télémètre x Massena LAB
Angelus and Massena LAB team up on a chronograph that leans into vintage cues with modern execution. The piece emphasizes classical dial balance and tactile chronograph operation, matching Angelus’s recent focus on historically informed designs. As a limited release, production is constrained, adding collector appeal. Availability and pricing details were not provided in the source.
Avoirdupois
Born in the USA, Avoirdupois Debuts with the 100% American-Made Force Majeure Watch
Avoirdupois introduces the Force Majeure, designed and manufactured entirely in Manhattan, with a monobloc steel case and integrated bracelet. Its in‑house micro‑rotor movement prioritizes durability and manufacturability, and the bracelet uses a tool‑free detachable link system. The black dial version is limited to 550 pieces at $12,950, while the golden fumé dial is limited to 75 pieces at $24,950. Deliveries are slated between July and December 2026 for U.S. customers.
Certina
From the deepest to the highest, there’s a Certina for that
Certina’s new DS Action Diver 38mm Powermatic 80 is pitched as an all‑terrain sports diver with ISO 6425 certification, a ceramic bezel, and 300 m water resistance. It runs the Powermatic 80 with an 80‑hour reserve and arrives in five distinct styles, including classic black and bolder green. A global campaign underscores the watch’s versatility across environments and climates. Prices range from $890 to $1,100.
Revised Certina DS Action Diver 38mm Powermatic 80 Collection - Read More >
The Updated Certina DS Action Diver 38mm Collection - Read More >
Hanhart
Introducing the Hanhart 417 ES Mokka Flyback Date
Limited to 200 pieces, the 417 ES Mokka Flyback Date fuses pilot heritage with automotive‑inspired styling via a mocha dial, bicompax layout, and red pusher signature. The 42 mm steel case is topped by a high‑domed AR sapphire, and inside is the hand‑wound AMT5100 M with flyback, date, small seconds, and a 58‑hour reserve. Quick‑change options include a dark brown calfskin strap or steel bracelet. Pricing is €2,690 on leather and €2,890 on bracelet.
Jaeger‑LeCoultre
A New Grained-Copper Dial for the Jaeger-LeCoultre Master Ultra Thin Collection
JLC adds grained‑copper dials to the 39 mm Master Ultra Thin Date (7.89 mm thick) and Moon (9.3 mm), each with in‑house automatics and 70‑hour reserves. Limited to 800 pieces per model, the warm copper tone modernizes classic proportions and trapezoid indices. Both arrive on brown alligator leather, staying firmly in the elegant dress‑watch lane. Prices are EUR 10,400 for the Date and EUR 12,600 for the Moon.
Nezumi
Nezumi Introduces A Stylishly Updated Version Of Its Baleine Dive Watch
Nezumi revisits its Baleine diver with a 40 mm brushed steel case, slimmer bezel, and a matte black ceramic insert with a luminous dive scale. A textured dial and redesigned hands sharpen legibility, while the Miyota 9039 automatic delivers a 42‑hour reserve. Assembled and QC’d in Germany, the watch keeps its retro charm but wears more compact. Pricing is €630 on rubber and €695 on bracelet, plus a 300‑piece first‑edition in tonal gray.
Nezumi Baleine - Read More >
Orient Star
Viridian Starfall: A New Glow for Orient Star
The M34 F8 Date Green blends traditional craft with modern tech, centering a hand‑stamped, optically multi‑layered green dial and an in‑house F8 movement. With a 60‑hour reserve and a patented silicon escape wheel, the watch pairs durability with precision. The 316L steel case and bracelet feature Zaratsu finishing for crisp surfaces and edges. Priced at $2,900, it offers strong value in its segment.
Squale
Shades of Substance: The Squale Sub-39 GMT U.S. Limited Edition Watches
Limited to 50 pieces per dial, the Sub‑39 GMT U.S. editions deliver a refined, vintage‑leaning aesthetic in black and grey, with old‑radium lume and classic black bezels. A grigio guilloché dial finish adds depth, while the 39 mm size and Sellita SW330‑1 keep things travel‑ready and wearable. The series pays tribute to Squale’s utility‑first design heritage with tactile details like the waffle‑patterned dial. Pricing information was not specified.
Vaer
Actually Affordable: Vaer DS2 Meridian Dive Watch
At $239, the DS2 Meridian undercuts many budget divers while delivering a clean 39 mm or 42 mm steel case, flat sapphire, and 150 m water resistance. A Miyota quartz movement keeps maintenance simple, and each watch ships with two interchangeable straps. Sunburst dials in black, navy, or green plus updated proportions improve daily versatility. Lightweight and straightforward, it’s a pragmatic entry into dive‑watch style.
Wearing Time - Reviews
A. Lange & Söhne
Hands On: A. Lange & Söhne’s Saxonia Thin Onyx is German Formal
The Saxonia Thin Onyx distills dress‑watch elegance into a 40 mm case just 6.2 mm thick, with a polished black onyx dial and simple hour‑minute display. Limited to 200 pieces in each metal (platinum or Honeygold), it uses the ultra‑slim L093.1 movement with a 72‑hour power reserve. Its restrained design and refined finishing make it a standout formal option in the Lange lineup. Pricing is around $45,000.
Doxa
Doxa Sub 300 Review: Eight Years With the Aqua Lung Limited Edition
After eight years of ownership, the Sub 300 “Black Lung” re‑edition has proven a dependable companion through major life moments. Its vintage‑inspired cushion case, bold orange dial, and distinctive Aqua Lung logo deliver both character and legibility. Updated materials and a COSC‑certified movement bring modern reliability to the nostalgic design. The watch’s accumulated wear only deepens its appeal as an everyday tool.
Louis Erard
Hands-On With Four Versions Of The Louis Erard 2340 In Steel And Titanium
The 2340 marks Louis Erard’s entry into integrated‑bracelet sports watches with three non‑limited colors and a playful Astro Boy limited edition. A brushed titanium case with polished steel accents keeps weight down to 92 g while housing the new Sellita SW300‑1 automatic with a 56‑hour reserve. The Mint version is praised for its lighthearted design, while the Astro Boy dial brings collectible flair. Prices are CHF 2,990 for regular versions and CHF 3,990 for the limited edition.
Nomos
Nomos Glashütte Refreshes Its Square Silhouette With The Tetra Origins Collection
Nomos refreshes the Tetra with four nature‑inspired dials—Ochre, Terra, Salvia, and Basalt—while retaining the mid‑sized square form. The upgraded in‑house DUW 4001 movement keeps the profile slim and the character distinctly Art Deco. Playful subdial accents and compact dimensions suit smaller wrists without sacrificing presence. The Basalt model stands out for its versatile balance of fun and restraint.
Zelos
Review: the Zelos Comet 39 ‘MOP’
The Comet 39 ‘MOP’ pairs a mother of pearl dial and guilloché texture with a 39 mm stainless steel case for a sporty‑elegant look. Applied Arabic numerals, a running‑seconds subdial, and the hand‑wound Swiss ETA/Peseux 7001 provide both legibility and charm. A tapered five‑link bracelet completes the package, though a less‑polished option might suit the design even better. Priced at $1,699, it offers an accessible entry to intricate stone dials.
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BuyingTime at Auction
A few select current auctions that caught our eye on Grailzee
[Monday’s auction watch, the 2007 A. Lange & Söhne Double Split Chronograph 43.2MM Black Dial Leather Strap (404.035) - was bid to $29,600 but did not meet its reserve. - make an offer]
2015 A. Lange & Söhne Grand Lange 1 Moon Phase 41MM Silver Dial Leather Strap (139.032)
Auction Report: A. Lange & Söhne Grand Lange 1 Moon Phase 139.032 – Rose Gold, Full Moon, Good Value
The 2015 A. Lange & Söhne Grand Lange 1 Moon Phase ref. 139.032 is one of those watches that quietly reminds everyone why Saxon high horology is in a different weight class. This example, in a 41mm rose gold case with silver dial and on a leather strap, is represented by the seller as being in good condition and comes with boxes (inner and outer), additional items, and papers dated March 3, 2015. That complete set matters on a modern Lange, especially as collectors have become more demanding about documentation and originality.
Launched to the market in 2014, the Grand Lange 1 Moon Phase was conceived as a larger, more contemporary expression of the original 1994 Lange 1 – the watch that effectively announced the rebirth of A. Lange & Söhne after German reunification. The Grand Lange 1 line itself dates back to 2003, created to meet demand for larger cases while preserving the off-center time display, outsized date, and power reserve that define the collection. The Moon Phase variant adds an expansive lunar display integrated into the main hours-and-minutes dial, a design move that gives the complication pride of place rather than relegating it to a tiny subdial. First shown in late 2013 and introduced in 2014, it brought a more theatrical, almost romantic element to an otherwise rigorously organized dial.
On the wrist, the 41mm 18k pink/rose gold case remains surprisingly elegant. At about 9.5mm thick with a manually wound calibre L095.3 inside, the watch wears flatter than the dimensions suggest, helped by Lange’s characteristic mix of polished and brushed surfaces that break up the mass of gold. The argenté solid-silver dial delivers the familiar asymmetric Lange 1 layout: outsize date at about one o’clock, the main time subdial with integrated moon phase dominating the left side, small seconds at roughly five o’clock, and the “AUF/AB” power-reserve scale anchoring the right side. In typical Lange fashion, the moon-phase display is not just decorative; it is calculated to remain accurate for well over a century before needing adjustment. The movement offers a 72-hour power reserve, with all the hallmarks of Glashütte high watchmaking visible through the sapphire back: three-quarter plate, gold chatons, hand-engraved balance cock, and immaculate striping.
From a value standpoint, this reference occupies a fascinating niche in the current market. The official U.S. retail for the Grand Lange 1 Moon Phase in pink gold sits around the mid-$60,000s (approximately $63,200–$66,700 depending on source and timing). On the secondary market, however, the watch has typically traded at a meaningful discount to retail. WatchCharts data pegs the current secondary market value at about $30,600, roughly 51 percent below U.S. retail, even as the model has appreciated around 37 percent over the past five years and outperformed the broader watch market by about 26 percentage points. Dealer listings tell a similar story at higher asking levels: pre-owned examples with box and papers are offered in roughly the high-$30,000s to low-$40,000s range, with some new-old-stock or boutique-like listings drifting into the mid-$40,000s, and at least one more aggressively priced retail listing around the low-$30,000s.
The liquidity profile is better than one might expect for a high-end Lange: recent data shows the 139.032 selling faster than roughly half the market with eight recorded sales in October 2025, placing it in the top tier of popularity both within the brand and within the Lange 1 family. Its one-year price behavior is also notably predictable, with relatively low volatility compared to most tracked models. In other words, this is not a hype rollercoaster; it is a serious, collector-grade watch with a reasonably well-established market and a gentle, rational price curve.
Given this specific example’s 2015 papers, full box set, and “good” condition rating rather than “very good” or “like new,” a sensible fair-value range for a private or auction sale today likely sits somewhere around the low-$30,000s to mid-$30,000s, with the upper end supported by the completeness of the set and the enduring desirability of the Lange 1 design. Strong bidding, a well-photographed listing, and a receptive audience of Lange collectors could pull the hammer closer to the high-$30,000s, but once prices flirt with the low-$40,000s, buyers can increasingly cross-shop cleaner dealer pieces with return policies and warranties. Conversely, if this auction closes materially below $30,000, that would represent an opportunistic entry point for someone prepared for a long-term hold.
For collectors tracking both the emotional and financial sides of the ledger, the 139.032 checks a lot of boxes. It is an in-production reference but one that feels decidedly “classic Lange” in design, bridging the modern manufacturing era with the aesthetic language established in the 1990s. The movement finishing is what enthusiasts expect from the brand, the moonphase execution is genuinely beautiful rather than merely present, and the 41mm rose gold case delivers legitimate wrist presence without sliding into ostentation. As an everyday dress-complication piece for someone whose life actually includes black-tie affairs and quiet dinners, it might be close to ideal.
With the auction ending early tonight at 6:00 pm Eastern on Tuesday, November 18, 2025, the real question is less about the watch and more about bidding discipline. In a market where retail sits north of $60,000 and well-known dealers ask in the high-$30,000s and beyond, setting a firm ceiling in the low-to-mid-$30,000s would keep this firmly in “smart buy” territory while giving some room for the usual last-minute adrenaline. However the hammer falls, this Grand Lange 1 Moon Phase continues to underscore a familiar theme: if you care more about watchmaking than marketing, A. Lange & Söhne remains one of the most compelling places to put serious money.
Current bid: $16,400