BuyingTime Daily - November 25, 2025
Swiss exports plunge, Bond Street soars, OMEGA, Urwerk, and TAG Heuer drop big releases, and tonight’s AP Star Wheel auction is the one to watch.
Time Graphing today’s watch universe
Time Graphing Today’s Watch Universe — November 25, 2025
Swiss watch exports to the U.S. are limping into the holiday season with all the grace of a GMT hand set backward. October deliveries fell 46.9% after September’s 55.6% face-plant, thanks to those freshly elevated tariffs that topped out at 39% under the Trump regime. And yet—and here is the industry’s favorite plot twist—year-to-date totals are still up 3.7% and almost 10% ahead of the same stretch in 2023. Relief is supposedly on the way, with that late-October trade deal expected to take tariffs down to 15% by early December. Until then, Swiss brands will keep sending fruit baskets to China, which was up 12.6% in October, while the U.S. remains stuck in detention.
Real estate, meanwhile, is having no such existential crisis. London’s Bond Street has officially become the priciest landlord in horology, now commanding the highest retail rents in the world. A new Rolex mega-boutique and an expanded Patek Philippe salon helped drive a 22% year-over-year spike, outpacing Milan and New York and reminding everyone that luxury brands will absolutely spend their last Swiss franc to lock down prime frontage.
New releases today span everything from retro to orbital. Urwerk is leaning hard into its avant-garde identity with everything from the UR-Freak collaboration with Ulysse Nardin to the UR-150 Blue Scorpion. TAG Heuer adds neon, split-seconds tech, moonphases, and even solar power across Monaco, Carrera, and Formula 1, proving that the brand’s energy drink budget remains unlimited.
Materials are also having a moment as brands revisit steel, titanium, bronze, carbon, ceramic, and even wood or stone as design signatures. Dubai Watch Week doubled down on this trend with some eye-catching hardstone dials from Biver, Gerald Charles, H. Moser, Frederique Constant, and Gérald Genta, turning geology into high horology.
On the independent and microbrand front, the Paramount Vino brings Art Deco charm at an approachable $1,150, while Felipe Pikullik debuts his in-house FPMP2 calibre with a cosmic aventurine moonphase. EONIQ marks its tenth anniversary with bespoke dial work, and Hublot, predictably, drops not one but two winter-ready Big Bang Unico models made from sapphire, titanium, and polar-white ceramic. March LA.B returns with a titanium surf watch that looks like it was dreamed up by a French beach club and a Swiss engineer.
Auctions are heating up in Hong Kong as Christie’s highlights high complications on bracelets—always a rare and welcome pairing—with notable perpetual calendars, split-seconds, and enamel world timers from Patek Philippe and A. Lange & Söhne. And in the “heritage comeback” category, the A. Lange & Söhne Centennial Tourbillon returns to its Saxon home after a century-long odyssey.
Event-wise, G-Shock legend Kikuo Ibe made an appearance to recount the origin story of shock resistance, complete with dreams of sapphire-crystal G-Shocks and watches built for space. Meanwhile, IWC hosted a Chicago gathering celebrating the Ingenieur line, giving collectors a close look at both new releases and rare historical pieces.
Finally, in today’s most audible flex, Blancpain unveiled the Grande Double Sonnerie, a 1,000-component acoustic cathedral featuring dual melodies, a flying tourbillon, and a perpetual calendar—limited to just two pieces per year at CHF 1.7 million. If that’s out of budget, AVI-8’s new CVRT 3775A lands at the opposite end of the spectrum with a surprisingly strong field-style automatic around the $450 mark.
In the auction lanes, Monday’s Rolex Daytona 126509 hit $48,300 but didn’t meet its reserve, so offers are now being encouraged. And tonight’s star attraction is the 2024 Audemars Piguet Code 11.59 Star Wheel (15212NB.OO.A002KB.01), sitting at $32,000 with plenty of room to run before the 10:40 pm close. Collectors of wandering-hour complications, tonight is your night.
News Time
Swiss watch exports to the USA battered by tariff regime
Swiss watch exports to the United States fell 46.9% in October after a 55.6% slump in September, driven by elevated tariffs that rose from 31% to 39% under the Trump administration. Despite the sharp drops, year-to-date exports through October are still up 3.7% and nearly 10% above 2023. Other markets were mixed, with the UK up 15.2% in September before dipping in October and China up 12.6% in October as Japan and Hong Kong softened. A late-October trade deal is expected to reduce the tariff to 15% by early December, offering some relief to the sector.
Where are watch businesses paying the highest rents?
London’s Bond Street is now the world’s most expensive retail location, with rents jumping 22% year over year, boosted by flagship moves like Europe’s largest Rolex boutique and an expanded Patek Philippe salon. The surge outpaces Milan’s Via Montenapoleone and New York’s upper Fifth Avenue as luxury brands race for prime experiential storefronts. Globally, average retail rents rose 4.2% over the past year, still running ahead of inflation and highlighting intensifying competition for marquee spaces. Underperformers are feeling sharper financial pressure as premier corridors become ever more critical to long-term brand strategy.
Feature Time
All of the 2025 Urwerk Watch Releases So Far
Urwerk’s 2025 lineup stretches from the collaborative UR‑Freak with Ulysse Nardin to the distance‑tracking UR‑10 Spacemeter and the striking UR‑150 Blue Scorpion. Additions to the UR‑100V series include the Time and Culture III enamel piece and the Hunter Green edition that displays astronomical data. The revived UR‑101 T‑Rex and UR‑100V Magic T Hunter Green deepen the brand’s blend of artful surfaces and orbital time displays. Limited runs and bold mechanics keep the focus squarely on avant‑garde horology.
All The 2025 TAG Heuer Releases
TAG Heuer expands Monaco, Carrera, and Formula 1 with everything from neon “Night Racing” aesthetics to aerospace‑grade split‑seconds chronographs. Highlights include the Monaco Air 1 rattrapante, a TH‑Carbonspring‑equipped Carrera Extreme Sport, and a moonphase‑equipped Carrera Astronomer. Solar‑powered Formula 1 models and vibrant limited editions underscore the brand’s motorsport DNA. The range spans entry to haute complications, with prices from $1,750 to $185,500.
Everything you need to know about watch materials
From stainless steel and titanium to gold and platinum, classic case metals balance durability, weight, and prestige in different ways. Bronze and silver bring distinct patina and antimicrobial traits, while ceramic, carbon fiber, and bioceramic add modern hardness, color, and sustainability. Even unconventional choices like wood or stone surfaces are finding select use for their character. The materials palette reflects a spectrum of performance, design, and environmental priorities.
Ferro Paramount Vino
An Art Deco‑inspired 38 mm dress watch, the Paramount Vino pairs a slim stainless case with a grained, wine‑red sector dial and bold numerals. Inside, a hand‑wound Sellita SW210 offers a 42‑hour reserve, protected by 50 m water resistance for daily wear. A recessed crown and polished finishing keep the vintage mood tasteful and discreet. Priced at US$1,150, it’s available for pre‑order with deliveries expected by late November 2025.
Highlights: Complications on Bracelets at Christie’s Hong Kong
Christie’s Hong Kong sale spotlights high complications on metal bracelets, a rare pairing for perpetual calendars, split‑seconds, and sonneries. Standouts include a Patek Philippe ref. 3448 with a ruby dial, a ref. 5136 on substantial bracelet, and an A. Lange & Söhne Langematik Perpetual on a Wellendorff. Additional lots such as the Patek ref. 5204 and ref. 5131 World Time broaden the field with technical and artistic dials. Preview runs November 22–25, with auctions on November 26–27.
Cocktail hour: the watches that take you from business to the bar
A curated selection from Chanel, Dior, Cartier, and more shows how elegant design can carry from meetings to evening events. Diamond accents, sculptural cases, and saturated colors elevate classic silhouettes without sacrificing practicality. Pieces like Jaeger‑LeCoultre’s Master Ultra Thin Perpetual Calendar or Seiko’s Presage Classic bring mechanical charm to refined settings. The thread across them all is versatility with a distinctly luxurious finish.
The A. Lange & Söhne Centennial Tourbillon Comes Home
Debuted at the 1900 Paris World Exhibition, this pocket watch blends a minute tourbillon with Neo‑Renaissance engraving and an enamel Minerva motif. After changing hands early in the 20th century, it disappeared following World War II and resurfaced in 1976. Repurchased by Bautzen in 2022, it returns as a symbol of Saxony’s industrial and cultural heritage. The museum exhibit coincides with the exhibition’s 125th anniversary.
Stone Age: The Most Alluring Hardstone Dials from Dubai Watch Week
Dubai Watch Week showcased a flourishing trend in hardstone and meteorite dials across independents and major maisons. Biver’s Automatique Atelier series and Gerald Charles’ tiger’s‑eye limiteds exemplified material vibrancy, while H. Moser’s meteorite Perpetual Moon emphasized cosmic storytelling. Frederique Constant riffed on mineral themes for an anniversary collection, and Gérald Genta expanded Oursin with extraterrestrial stones. The result is a renewed fusion of geology, craft, and mechanical art.
Wait A Minute! In Admiration Of Dress Watch Design
Dress watches may appear simple, but their restraint demands exacting design, as every small flaw is exposed. The genre’s evolution from default wristwear to niche alternative has opened room for microbrands and new interpretations. Differentiation comes from proportion, finishing, and dial nuance rather than overt complication. In a market crowded with tool watches, a refined dress watch remains a true test of design discipline.
Event Time
WU25 Panel: Kikuo Ibe, G-Shock, and the Origin of Toughness
Kikuo Ibe recounts the birth of G-Shock after dropping a cherished watch and pursuing an unbreakable design, culminating in a shock-resistant structure that reshaped the industry. He traces the brand’s evolution from rugged tools to stylish icons while retaining a core mission of durability. Reflecting on 42 years of progress, Ibe shares challenges like his dream of a sapphire crystal model and even muses about designs for space travel. His message centers on perseverance, innovation, and continuing to push boundaries for future generations.
UBS House of Craft Celebrates IWC Schaffhausen in Chicago
An intimate Chicago event gathered guests with IWC North America Brand President Stanislas Rambaud and Hodinkee Senior Editor Mark Kauzlarich to explore the Ingenieur collection. Hosted at IWC’s Oak Street boutique, the evening highlighted the brand’s “Form und Technik” philosophy through a private presentation of new and archival pieces. Attendees viewed models like the Ingenieur Automatic 35 and Ingenieur Perpetual Calendar 41 alongside rarities such as the Portuguese Tourbillon Mystère. The enthusiastic response underscored IWC’s craftsmanship and set the stage for future Chicago gatherings.
The Latest Time
Blancpain
The Blancpain Grande Double Sonnerie
Blancpain unveils an ultra‑complicated wristwatch featuring a dual‑melody four‑tone chiming system, a flying tourbillon, and a retrograde perpetual calendar developed over eight years. The fully integrated 15GSQ movement comprises more than 1,000 components and incorporates 21 patents, including a magnetic regulator and acoustic membrane for enhanced sound. Only two pieces are produced each year, and each can be customized in materials and even melody selection. The result blends cutting‑edge acoustic engineering with traditional haute horlogerie finishing.
EONIQ
The EONIQ Malbec Marks a Decade of Custom Watchmaking
To mark its 10th anniversary, Hong Kong–based EONIQ introduces the Malbec series, highlighting bespoke dial craft with in‑house fonts and flame‑blued hands. The 316L steel case, sapphire crystals, and Miyota 9039 automatic movement bring modern reliability to a vintage‑styled everyday watch. Clients can personalize fonts, colors, and symbols through meticulous pad‑printing, including options developed with local artists for traditional characters. The collection underscores EONIQ’s niche: accessible, high‑touch customization backed by careful manufacturing.
Felipe Pikullik
The Felipe Pikullik Mondphase II, with the Indie’s First In-House Calibre
Felipe Pikullik’s Mondphase II debuts the in‑house FPMP2 calibre, elevating the indie’s signature finishing with a movement designed for both function and visual drama. A dark blue aventurine background frames a three‑dimensional moon phase, while a thoughtfully engineered setting and winding module simplifies service. Limited to 20 pieces per material, it’s offered in steel (EUR 45,000), bronze (EUR 58,000), and platinum (EUR 65,000), each with about 40 hours of power reserve. Case architecture, complex lugs, and sapphire crystals complete a cosmic‑inspired, hand‑finished package.
Hublot
Hublot Drops Two Winter Editions of the Big Bang Unico
Two winter‑themed Big Bang Unico models showcase Hublot’s materials prowess: a 42 mm polished sapphire case (50 m) and a microblasted titanium case with polar white ceramic bezel (100 m). Both house the in‑house HUB1280 flyback chronograph with a 72‑hour power reserve and openworked dial. The Winter Sapphire is limited to 30 pieces at CHF 70,000, while the Winter Titanium Ceramic is limited to 200 pieces at CHF 22,900. Each ships with two interchangeable straps for season‑ready versatility.
March LA.B Belza
The March LA.B Belza Surf Watch, Now in a Sleek Titanium Edition
Belza returns in a 40 mm Grade 2 titanium case with 200 m water resistance, a sandblasted wave‑pattern dial, and a unidirectional bezel with green ceramic insert. Powering the watch is the Swiss La Joux‑Perret G100 automatic movement with a 68‑hour reserve. Limited to 99 pieces, it pairs French‑surf heritage cues with modern durability and a khaki‑green jacquard strap. Price is EUR 2,195.
Wearing Time - Reviews
AVI-8
Hands-On With The Brand-New AVI-8 CVRT 3775A Automatic
Designed with Worn & Wound Creative Services, the CVRT 3775A is a compact 37.75mm tactical field watch that shifts AVI-8 beyond pure pilot territory. The scratch-resistant steel case wears comfortably and pairs with two black straps to emphasize the covert theme. A legible, lume-forward dial and the Miyota 9015 automatic deliver everyday reliability with 42 hours of power reserve. It looks and feels more premium than its approachable price suggests.
Blancpain
Inside Blancpain’s Grande Double Sonnerie
Blancpain’s Grande Double Sonnerie marries musical artistry with extreme complication, playing both the Westminster sequence and an original Eric Singer composition. Eight years in development, it integrates a flying tourbillon, perpetual calendar, and advanced acoustic architecture within a 47mm case. Innovations like a silent magnetic regulator and engineered gold gongs elevate clarity and tone. With 13 patents and over 1,000 components, it signals a bold new chapter for the brand.
The New, Ultra-Complex Blancpain Grande Double Sonnerie 15GSQ - Read More >
Category Reviews
The Best Small Watches We’ve Ever Reviewed: From Casio To Rolex
This round-up explores why small watches punch above their size, focusing on balance, comfort, and character rather than diameter alone. From the featherlight Casio F-91W to the refined Baltic MR01, each piece is judged by real-world wearability and clarity, not hype. Highlights include the easy-wearing Timex Weekender, the blue-dial Seiko 5 SNK793, the rugged yet refined Hamilton Khaki Field Mechanical, and the titanium Christopher Ward The Twelve 36 in Lagoon Blue. Together they show that thoughtful proportions can deliver style and function in equal measure.
Watching Time
Exclusive: H. Moser CEO Bertrand Meylan on the New Meteorite Perpetual Moon
Inside Blancpain’s Grande Double Sonnerie with Marc A. Hayek | A New Era of Chiming Watchmaking
Brutal Honesty - How Used Watches Lose Value
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MANCHESTER WATCH PROWLING! (Rolex, Bremont, Tudor, Tissot, Blancpain, IWC, Omega, Cartier, MORE!)
Talking Time
The Business of Watches Podcast: James Lamdin Of Analog Shift On The Vintage And Pre-Owned Market And Why All Authenticity Guarantees Aren’t The Same - Listen Here>
BuyingTime at Auction
A few select current auctions that caught our eye on Grailzee and Bezel
[Monday’s auction watch, the 2025 Rolex Cosmograph Daytona 40MM Blue Dial White Gold Oyster Bracelet (126509) - was bid to $48,300 but did not meet its reserve - make an offer]
2024 Audemars Piguet Code 11.59 Star Wheel 41MM Aventurine Dial Textile Strap (15212NB.OO.A002KB.01)
Auction Report: 2024 Audemars Piguet Code 11.59 Star Wheel 41 mm (15212NB.OO.A002KB.01)
The timepiece consigned is the 2024 iteration of the Audemars Piguet Code 11.59 Star Wheel, reference 15212NB.OO.A002KB.01, represented by the seller as being in “very good” condition, accompanied by both the inner and outer boxes, full papers, and an active e-warranty activated in 2024 with validity through 2029. From a technical and historical standpoint, this model is noteworthy for several reasons.
First, the Code 11.59 collection itself was introduced by Audemars Piguet in 2019 as a bold departure from the brand’s more familiar Royal Oak silhouettes. The Star Wheel variant revives a historic complication — the wandering-hours “Star Wheel” display — in a thoroughly contemporary execution. In the company’s own words, the Star Wheel mechanism “revisits the tradition of wandering hours … a type of horological complication that display[s] the hours using a system of satellites that gravitate along a minute scale arranged in the form of an arc.” In this 41mm version, the complication is powered by calibre 4310, an evolution of calibre 4309 with an added module for the Star Wheel display.
Aesthetically the reference in question features a 41 mm case in 18-carat white gold combined with black ceramic, paired with a black-textile strap and pin buckle (rather than a metal bracelet), and a star-studded aventurine dial — the shimmering backdrop amplifies the rotating hour discs as they trace the 60-minute scale. The ultra-contemporary material mix (white gold + ceramic) and the visually striking dial architecture serve both as a homage to traditional haute horlogerie and as an exemplar of AP’s push into more avant-garde territory.
From a value standpoint, the watch was originally launched with a retail price around USD 57,900. On the secondary market the reference is offering between approximately USD 64,000 and USD 72,000 in “very good” to almost-unworn condition, according to multiple listings. For example, one listing identified the 15212NB at USD 72,000 (very good, full set) in 2025. Other listings skew a little lower (USD 59,000–65,000) depending on condition and completeness. Given that the consigned piece includes full boxes and papers, active warranty, and is positioned in “very good” condition, it is well placed within the upper‐tier of the current market range.
In terms of the condition and value context: The fact the warranty is active through 2029 is a positive for the buyer, reducing near‐term service risk and enhancing liquidity. The inclusion of full boxes and papers is also a strong value enhancer — many watches trade at a discount when provenance or packaging is missing. “Very good” condition suggests only light wear and no major marks or service issues — again positive. The textile strap is appropriate for the model (though straps are more subjective than bracelets) and the case material mix of white gold and ceramic is a distinguishing factor that likely adds to desirability.
For the upcoming auction ending tonight at 10:40 pm (Tuesday, November 25, 2025), the consigned piece merits a strong placement within the existing market band. My estimate would place a hammer result in the range of USD 65,000 to USD 75,000 assuming robust bidding competition, condition holds up to representation, and the full set is confirmed. If condition is slightly lower than claimed (e.g., strap wear, minor dial blemish, light polishing), then the result might come in closer to USD 60,000–65,000. If the market sees a strong collector enthusiasm for the Star Wheel complication and the white gold/ceramic case variant, and if the lot draws international bidding, the result could even edge above the high end of the published listing range, perhaps into the USD 75,000–80,000 zone — but that would require exceptional collector demand.
In summary, this is a highly collectible variant of the Code 11.59 line — combining a historically rooted complication, contemporary materials, strong finishing and brand pedigree. With full set and active warranty, the consigned watch stands very competitively in today’s market. The auction tonight offers a solid opportunity for the consignor to realize a near‐top market result, provided all representations check out and the bidding environment proves active.
Current bid: $32,000