Prudence is a virtue at the 2012 SIHH

The watch industry held its first major gathering for 2012 in an ambivalent climate. European debt crisis, economic upturn in the US that has yet to pick up speed, and a slowdown in growth among the Asian tigers contrasted with the previous year’s excellent performance by Swiss watches. At end November 2011, exports of Swiss timepieces had already exceeded the record level of 2008. Growth for the full twelve months is forecast at 20%, well in excess of CHF 18 billion (USD 19,6 billion / EUR 14,9 billion ). This ambivalence was reflected by the mood of cautious optimism at the 22^nd Salon International de la Haute Horlogerie (SIHH), held January 16^th to 20^th. Prudence continues to guide brands in the markets, as Philippe Léopold-Metzger, Chief Executive of Piaget, confirmed: “The headlong rush to launch new models isn’t healthy. A brand must learn to resist.”

Long live complications!

The general impression left by an event which saw attendance rise by 10% to more than 13,000 visitors was worth its weight in orders. Brands expressed their satisfaction which bodes well for the coming months, although the markets are expected to slow down. “In such an uncertain climate, when the markets must also bear the brunt of price hikes due to the strong Swiss franc and rising commodities prices, those companies which create value built on legitimate foundations fare best,” Juan-Carlos Torres, CEO Vacheron Constantin, observed. A description that fits all eighteen of the companies exhibiting at the SIHH.

Once again this year, the brands took maximum advantage of the fair to present spectacular timepieces, in the vein of Jaeger-LeCoultre’s Duomètre à Sphérotourbillon, a grande complication model that perpetuates the Manufacture’s values of aesthetic, technical excellence, and tradition. This double-axis tourbillon with GMT function and power reserve is the first tourbillon watch which can be adjusted to the nearest second –seconds are displayed in a subdial – along the same lines as a flyback function. Over at Montblanc, the watchmakers were flirting with thousandths of a second… in a movement that makes 100 beats a second. Another technical feat brought to life in a highly ingenious display.

Softly, softly

A Lange & Söhne stayed true to its Lange 1 line. Its Tourbillon Perpetual Calendar is a lesson in legibility. Cartier, meanwhile, impressed with its Grande Complication Skeleton Pocket Watch (tourbillon, monopusher chronograph, perpetual calendar) and Rotonde Minute Repeater Flying Tourbillon, the company’s first venture into striking watches since it entered the world of Fine Watchmaking four years ago. Equally noteworthy were the Tourbillon 24 Secondes Contemporain by Greubel Forsey, and Richard Mille’s RM 050 Tourbillon Split-Seconds Competition Chronograph Felipe Massa. Both these models conveyed the highly technical approach to time measurement of these two “young” brands.

Still, unlike the fast and furious years of the previous decade, showstoppers such as these were the exception rather than the rule at the 2012 SIHH. Rather, companies demonstrated restraint and preferred to revisit their defining collections, with the exception of Piaget which ventured a new line, Gouverneur, alongside several new interpretations of its extra-thin Altiplano. Girard-Perregaux concentrated on its Vintage 1945 and 1966 collections, including a minute-repeater in the latter. JeanRichard gave a new look to its Diverscope, not least thanks to the unusual linear power reserve that “rises” inside the numeral 12. After last year training the spotlight on its Portofino, IWC put its Pilot’s watches centre-stage with, among other models, a perpetual calendar, a double chronograph and a world time. Panerai remains faithful to its Radiomir and Luminor lines by each year incorporating new materials and complications with meticulous attention to detail.

Anniversary editions

Brands are also picking up on 2012 as an anniversary year. The tonneau form, for example, celebrates its debut at Vacheron Constantin in 1912. The Manufacture is commemorating this century of history by introducing four new models to its Malte collection. One is equipped with the original tonneau movement, the 2795 Tourbillon calibre, hallmarked Poinçon de Genève. The 40^th anniversary of the Royal Oak by Audemars Piguet is another important milestone. This legendary timepiece lends its forms to eight new models, notably an openworked extra-thin tourbillon.

Needless to say, this approach rolls out the red carpet for true classics whose elegance is on a par with their carefully crafted sobriety. Defined by essential functions, studied forms, and a subtle movement and case – Parmigiani’s Tonda 1950 is a perfect example – these classic timepieces command a loyal following. Their message of authenticity clearly found a willing ear at this year’s SIHH.