BuyingTime Daily - October 28, 2025
Curating the Culture, Craft, and Commerce of Time Keeping
Time Graphing today’s watch universe
Time Graphing Today’s Watch Universe – October 28, 2025
The watch world moves fast, but today it’s also moving sideways. Houlden Group is back in the spotlight after CEO Isabel Rhodes announced she’s stepping down after only sixteen months—another quick turnover for the UK and Ireland buying group. Rhodes exits on a high note, having guided Houlden through a period of modernization, and her departure keeps the industry rumor mill spinning. Meanwhile, in the land of fresh beginnings, Paris-based independent MILVA has made its debut with the Cyprès collection—three colorful models that put the Sellita SW200-1 at their core and “mechanical sincerity” at the center of their philosophy. Expect collectors to take notice; the independents just keep coming.
Unfortunately, there’s no sugarcoating the latest trade data: Swiss watch exports to the U.S. fell a staggering 56% in September after the 39% import tariff took effect in August. The U.K. and Japan have overtaken the U.S. as leading markets, though the year-to-date picture still shows growth. It’s a messy correction, not a collapse—at least for now. Speaking of corrections, Rolex’s secondary market share continues to slip, down from 42% to 33% in three years, with Omega and Cartier steadily gaining ground. Collectors are maturing, chasing substance over hype, and perhaps finally learning that horological happiness doesn’t have to mean waiting lists.
In more optimistic news, Tudor is teaming up with Time+Tide for a three-month London lounge and library, the kind of soft-power marketing that feels right for a brand nearing its 100th anniversary. Meanwhile, Discovery is bringing watchmaking to the small screen with Man of the Hour, hosted by Wei Koh, featuring names like F.P. Journe and De Bethune’s Denis Flageollet. Expect a blend of artistry, philosophy, and probably a few perfectly timed slow-motion shots of balance wheels.
Elsewhere, Blancpain adds a golden touch to autumn with its refreshed Villeret models, Hautlence miniaturizes its spherical spectacle, Jaeger-LeCoultre revisits the 1931 Reverso with quiet grace, and Timex wins the “smile-per-dollar” award by reviving its Q Chronograph x Snoopy collab. Richard Mille’s latest $283,000 worldtimer reminds everyone that travel still pairs best with titanium, while Luminox and Nomadic keep the adventurous spirit alive with tool watches that actually sound like tools.
In the reviews department, Doxa and Rolex go head-to-head in the eternal dive watch debate, Muse continues to turn time into art, and the Rolex Oyster Perpetual 36 “Pistachio” proves that understatement can be the most luxurious statement of all. Finally, on the auction front, Monday’s Rolex Submariner “Hulk” didn’t meet its reserve at $16,300—but the bidding spotlight shifts tonight to the Audemars Piguet Royal Oak Offshore “Navy”, a steel powerhouse from the late 2000s still capable of commanding mid-$20Ks if the condition holds.
It’s been a day of contrasts—newcomers and exits, setbacks and experiments—but the constant remains: time, and the people obsessed with capturing it just a little more beautifully.
News Time
Houlden CEO steps down after 16 months in the role
Isabel Rhodes is stepping down as CEO of Houlden Group after 16 months, marking the third leadership change in two years at the UK and Ireland buying group. Rhodes, who succeeded Helen Haddow in July 2024, brought experience from the Gretna Green Group and is credited with steering Houlden through a transformative period. In her farewell, she thanked the board, members, and partners, noting the valuable experiences gained within luxury jewelry and watches.
Independent watchmaker MILVA crashes onto the scene
MILVA, a Paris-based independent brand founded by engineers Quentin Lidié and Matthieu Marciniak, has debuted its inaugural Cyprès collection. The line features Marine Blue, Midnight Green, and Ivory Cream variants with domed sunray dials beneath double-domed sapphire crystals. Powered by the Swiss automatic Sellita SW200-1, each numbered piece emphasizes refined design, mechanical sincerity, and easy strap interchangeability with an optional steel bracelet.
Industry News: Swiss Watch Exports to the U.S. Have Dropped 56% in September 2025
Swiss watch exports to the U.S. plummeted 56% in September 2025, following a 39% U.S. import tariff introduced in August. The U.S., formerly the top market, fell to third behind the U.K. and Japan, reflecting wider slowdowns tied to declines in China and Hong Kong. Even so, other regions show resilience, with the U.K. up 15.2% and gains in Greater China and nearby markets, and the U.S. still up 10.4% year-to-date, underscoring a complex, shifting landscape.
Rolex losing market share to Omega and Cartier
Rolex’s secondary market share has slipped from 42% to 33% over three years as demand cooled for hyped pieces from Rolex, Patek Philippe, and Audemars Piguet. Patek and AP also declined to 5.7% and 4%, respectively. Meanwhile, Omega and Cartier gained ground, with Omega rising from 9% to 11% and Cartier from 3% to 5%, reflecting a broader stabilization driven by informed collectors.
Tudor x Time+Tide Lounge and Library
Tudor is partnering with Time+Tide on a three-month London residency starting November 26, creating a relaxed lounge and library where visitors can learn about and buy Tudor watches. Inspired by a past collectors’ event, the space brings Tudor’s history and performance to life through curated artifacts and literature. The concept aims to feel inviting and distinct from traditional retail, with collectors’ gatherings and community events planned as Tudor approaches its centenary.
“Man of the Hour”: A New Docuseries Celebrating the Art And Humanity Of Watchmaking Featuring Wei Koh
Discovery will premiere “Man of the Hour” in November, an eight-episode docuseries hosted by Wei Koh that spotlights independent watchmaking. Traveling through Los Angeles, Geneva, Singapore, and more, Koh meets luminaries such as F.P. Journe and Denis Flageollet of De Bethune. The series promises an intimate look at both the craft and the personal philosophies of the artisans behind exceptional timepieces.
Feature Time
A Deep Dive In Art: Hands-On with the Ligure Karl Schmid
The Ligure Karl Schmid integrates Swiss artist Karl Schmid’s 1988 “Spirituelles Werk” into a fully functional dive watch. Its dial features vibrant triangular motifs while preserving legible hour markers and a date window. Housed in a 41mm Tartaruga case with 200 meters of water resistance, it includes both a metal bracelet and a two-tone silicone strap. Limited and individually numbered, it’s priced at €1,888 and blends artistic expression with practical utility.
Interview with Frédéric Bondoux, CEO of Grand Seiko Europe
Frédéric Bondoux emphasizes the emotional resonance and craftsmanship of mechanical watches and outlines Grand Seiko’s growth in Europe. He explains how the brand, once lesser-known, has achieved recognition through precision, value, and strong after-sales support. Bondoux highlights Grand Seiko’s cultural identity and quality standards that differentiate it from Swiss peers. Looking ahead, he aims to make Grand Seiko a leading choice for new generations in the luxury segment.
Time Machines: The Emotional Bond Of Building Patina With The Tudor Black Bay 58 Bronze Watch
The Tudor Black Bay 58 Bronze combines modern engineering with vintage charm, developing a personal patina as it’s worn. Introduced in 2021, its 39mm bronze case, water resistance, and distinctive dial with applied Arabic numerals evoke classic tool-watch cues. The MT5400 automatic movement and matching faux-rivet bracelet reinforce robust performance and period character. Over time, the evolving surface finish encourages an emotional connection between wearer and watch.
The Latest Time
Blancpain
Blancpain Villeret, Golden Hour
Blancpain refreshes the Villeret collection for 2025 with three emblematic models that showcase autumnal dials and refined design updates. The lineup includes an automatic three-hand with date, a complete calendar with moon phase, and a moon phase calendar, with options spanning materials and diamond-set bezels. Modernized details such as redesigned hands, larger date windows, and interchangeable straps enhance comfort and clarity. The moon phase remains a poetic signature, underscoring Blancpain’s enduring mastery of traditional Swiss watchmaking.
Hautlence
Introducing: Still Fascinating, More Compact... Meet the Hautlence Sphere Series 3
Hautlence distills its signature spectacle into a more wearable format with the Sphere Series 3, cased in Grade 5 titanium at 37 x 45 mm and 17.4 mm tall. The spherical jumping hour and retrograde minute display return, now paired with 100 meters of water resistance. Inside is the hand-wound calibre A82 with a 72-hour power reserve and a built-in safety mechanism. Limited to 28 pieces, it comes on a purple suede strap and is priced at CHF 69,000.
Jaeger-LeCoultre
Jaeger-LeCoultre Reverso Classic Monoface Small Seconds: A Modern Tribute to a 1931 Icon
The Reverso Classic Monoface Small Seconds honors the 1931 original with an updated “coin stack” guilloché dial and polished steel case. Measuring 40.1 x 24.4 mm, it balances Art Deco heritage with contemporary elegance and houses the manually wound Calibre 822 with a 42-hour power reserve. An interchangeable Casa Fagliano black calfskin strap adds versatility for daily wear. The blank metal caseback invites personal engravings, deepening the wearer’s connection to the icon.
Luminox
Luminox’s Latest Ultra-Tough Watch Is an Exercise in Precision Military Navigation
The Recon Navigation Specialist 8830 Series was developed with a former Swiss Army Military Security NCO for precise, on-foot navigation. A Ronda 515.24H Swiss quartz movement enables dual time zones, and a tachymeter bezel is tailored for walking speeds. The Carbonox case keeps it lightweight and durable, while a detachable compass is integrated into the strap. Rated to 200 meters and priced at $945, it arrives in blue or green configurations for demanding outdoor use.
Nomadic
Nomadic Launches Its First Chronograph, the Céad 126
Nomadic’s debut chronograph draws inspiration from Irish motorsport legends and landmark speed records. “Céad,” meaning “first” in Irish, nods to Glenn Irwin’s 126 mph lap at the North West 200 and Joey Dunlop’s 26 TT victories. The launch at the Ulster Transport Museum included racers and watch fans, plus a VR experience simulating Irwin’s speed. With a 40 mm steel case, AR sapphire crystal, Swiss movement with a 58-hour power reserve, and three colorways, it’s priced around $3,260.
Richard Mille
Introducing: Richard Mille RM 63-02 Automatic Worldtimer 5N Red Gold and Titanium
The RM 63-02 Worldtimer integrates time zone selection into the bezel, letting travelers choose a city and adjust local time without pushers. A 47 mm round case blends satin-finished 5N red gold and Grade 5 titanium, housing the complex CRMA4 calibre with advanced materials for robustness and performance. The striking dial layout includes a day-night disc and anti-glare sapphire crystals. Water resistant to 30 meters, it’s priced at $283,000 and built for frequent flyers who value mechanical ingenuity.
Timex
Timex’s Hottest Affordable Chronograph Is Back, and Now’s Your Chance to Get One
Timex revives the Q Timex Chronograph x Peanuts Snoopy as a playful and accessible nod to a beloved luxury look. Snoopy features on the small seconds subdial, echoing the spirit of the Silver Snoopy Speedmaster at a fraction of the cost. The watch uses a quartz movement in a versatile 40 mm steel case with a clean, minimalist aesthetic. Priced at $249, it’s available for pre-order now with shipping slated for January 2026.
Wearing Time - Reviews
Doxa
The Rolex Sea-Dweller Vs. Doxa’s Sub 300T: A Battle For The Burly Wristed
Rolex and Doxa helped pioneer helium escape valve tech in the 1960s, with Doxa’s Sub 300T Conquistador debuting it commercially in 1969 and Rolex following with the Sea-Dweller in 1971. The modern Sub 300T keeps its playful, distinctive character and offers a compelling heritage-rich alternative. By contrast, the Sea-Dweller leans into traditional refinement and technical excellence. Both matter in dive watch history, but they cater to different tastes and budgets.
Muse
When Art Tells Time: Hands-On with the Muse Tanoura
The Muse Tanoura translates moucharabieh latticework into motion, with hands that form hypnotic geometric patterns while showing the time. A deep blue aventurine backdrop evokes the night sky, complemented by a blue chapter ring for legibility. The 44 mm Grade 5 titanium case keeps things light, housing the automatic MU01-A1 caliber with a beautifully finished display back. Limited to 100 pieces and priced at €3,350, it’s offered in multiple finishes for a truly artistic take on timekeeping.
Rolex
Two Weeks With The Rolex Oyster Perpetual 36 “Pistachio”
This Oyster Perpetual 36 is a fuss-free daily companion, with a pistachio-green dial that shifts character in different light. The 36 mm size balances comfort and presence, and its robust build encourages worry-free wear from desk to dive. Understated yet charming, it earns praise for practicality and versatility rather than flash. For many, it’s one of the best modern Rolex options precisely because it doesn’t try too hard.
Watching Time
IWC Miramar: What I Love & Hate (Pilots Chrono)
Seiko’s Travel-Ready Icon with a Fresh Dial
How Rolex Dealers JUDGE YOU The Second You Walk In
Andrew’s favourite Audemars Piguet watches available at AP House Manchester
French Racing Inspired Triple Calendar Watch…Interesting
I Don’t Own a Dive Watch. Let’s Change That! 10 Affordable Dive Watches
Talking Time
No new episodes today
BuyingTime at Auction
A few select current auctions that caught our eye on Grailzee and Bezel
[Monday’s 2013 Rolex Submariner Date “Hulk” 40MM Green Dial Oyster Bracelet (116610LV) was bid to $16,300 but did not meet its reserve. - make an offer]
Audemars Piguet Royal Oak Offshore Chronograph “Navy” 42MM White Dial Leather Strap (26170ST)
Auction Report: Audemars Piguet Royal Oak Offshore Chronograph “Navy” (26170ST)
The Royal Oak Offshore “Navy” remains one of those mid-2000s AP statement pieces that telegraphs exactly what it is from across the room: white Méga Tapisserie dial, three deep-blue subdials, and that octagonal bezel with eight screws that made the Offshore a star since 1993. This reference 26170ST runs AP’s self-winding calibre 3126/3840 (an in-house 3120 base with a chronograph module), typically housed in a 42 mm steel case about 14.2–14.3 mm thick with 100 m water resistance. Most examples were delivered on a blue “hornback” or smooth leather strap with an AP folding clasp or pin buckle, and period pieces feature rubber-coated crown and pushers (“Therban”) rather than the later ceramic hardware.
As a model, the “Navy” lives inside the Offshore “Themes” family from the late 2000s era; you’ll see production years commonly spanning roughly 2007–2015 for this exact 26170ST.OO.D305CR.01 configuration. In other words, if you’re trying to pin down the year for this watch (the listing omits it), you’re almost certainly looking at a piece from that window. A quick way to narrow it is to request the case and movement numbers and order an AP Extract of Archives; many market listings note 2007–2015 production years explicitly.
On the wrist, it’s classic Offshore theater: strong lume, a framed date at 3 o’clock under a magnifier, and the familiar chunky guards around the screw-down crown. Specs from multiple retailers align on the essentials—42 mm steel, sapphire crystal, automatic chronograph calibre 3126/3840—and they’re useful cross-checks when a listing is light on detail.
Market check: recent asking and transaction data for the 26170ST “Navy” cluster mostly in the low-to-mid $20Ks, with outliers above and below depending on condition and completeness. Active listings and recent sales show a band roughly from about $19k on the low end to the mid-$20Ks for cleaner sets; full sets with papers and fresh service can push higher, while “watch-and-box” examples like this one generally trade toward the lower half of the range.
Condition & set: the seller calls it “very good,” with a box but no papers. For Offshores of this era, paperwork matters; missing papers typically knocks value versus full-set comps and can slow resale if you decide to move it later. If service history isn’t documented, assume you may be the one to fund the next full service in the coming years—standard advice with older AP chronographs.
Provenance & history notes: the Offshore line itself launched in 1993 as the bolder sibling to the 1972 Royal Oak, and the “Themes” strap models like the Navy became staples as the collection expanded in the mid-2000s. If you’re a stickler for correctness, confirm the period-correct strap style and clasp (smooth vs hornback) for the production year you believe it to be; early Navy pieces weren’t always delivered on hornback out of the gate.
Bottom line and bid strategy: with box/no papers and “very good” cosmetics, a disciplined target would be around the lower-to-mid $20Ks, shading lower if there’s notable wear or no evidence of recent service. If it shows clean case lines, crisp dial furniture, correct hands and date magnifier, and healthy timing/chrono reset, you’ve got a solid daily-wear Offshore with big-personality colors that still reads as quintessential Audemars Piguet. The auction closes at 10:26 pm tonight - Tuesday, October 28, 2025—set your ceiling before the adrenaline kicks in.
Current bid: $4,100