Forward Momentum

This week on Forward Momentum, I caught up with my good friend and recurring guest C’Q The Watch Guy to unpack the state of the watch industry—from auction house trends to independent watches at auction. We covered a lot of ground: the resurgence of yellow gold, the rise of quiet product launches, the importance of collector experience, and the ongoing discussion around pricing.

Auctions continue to set the tone for market values, sometimes inflating expectations, but also shining a light on standout pieces. Meanwhile, independent brands are earning real respect among educated collectors who value design and craftsmanship over just the name on the dial.

We also talk about Jean-Claude Biver’s continued influence, what’s happening with brands like Urban Jürgensen and Moser, Greubel Forsey’s quiet launches, and what these shifts mean for both new and seasoned collectors.

If you’re navigating the watch industry—as a buyer, seller, or curious observer—I think this conversation will offer a lot of takeaways and insights to think about over the long summer break.

Key Takeaways:

* Independent watchmakers are gaining momentum, and collectors are paying attention to originality and craftsmanship over legacy names.

* Watch pricing is creeping higher, prompting collectors to weigh long-term value and resale potential more carefully.

* Auction houses like Phillips are shaping the narrative and driving enthusiasm—but also pushing prices sky-high.

* Too many SKUs and colorways are diluting product lines. Strategic restraint may win out.

* The buying experience matters. It’s not just about the watch—it’s how it’s delivered, who presents it, and what story it tells.

* Yellow gold is making a comeback, and brands should take note.

* Quiet product drops are outperforming overhyped launches. Subtlety is back in style.

* Jean-Claude Biver’s impact on the industry continues to ripple outward.

* The U.S. market remains strong despite economic headwinds—especially for rare or emotional pieces.

* The collector base is evolving: smarter, more diverse, and more experience-driven.

Chapters:

00:00 – Auction Season Recap and What’s Coming Next

05:58 – Independent Watchmakers and the Pricing Puzzle

12:04 – Moser’s New Drops and the SKU Overload

17:48 – Inside the Auction Scene: Monaco Legends to Phillips

31:42 – New Brands, Old Problems

38:47 – What Collectors Really Want Right Now

48:56 – Can the Watch Industry Build True Community?

55:51 – What Stood Out at Phillips

01:02:18 – Rarity, Importance, and Value at Auction

01:07:37 – The Rise of Female Collectors

01:15:09 – Frustrations with Auction Houses

01:23:08 – Final Takeaways and Where We Go From Here

I caught up with C’Quon Gottlieb, C'Q The Watch Guy, to breakdown the results from Hong Kong. We look at the strength of independent brands at auction, and the current trend towards classic watch designs. We explored the significance of the Hong Kong auctions, how the landscape of auction houses is evolving, and why timeless watchmaking continues to resonate so deeply.

Our dialogue touched on the value of heritage and craftsmanship in the watch industry, and we unpacked the subtle differences between modern and vintage pieces. We also discussed the growing competition between the two, the importance of watches like the Greubel Forsey Piece D’Ecole prototype, and offered some predictions for the upcoming New York auctions at Phillips, Christie’s, and Sotheby’s. It was a deep dive into what makes luxury watches so compelling—and how market dynamics shape their appeal and value.

Chapters

00:00 Introduction and CP Time Event Recap

05:56 The Strength of Independent Brands

11:57 The Value of Timeless Design

18:12 Antiquorum's Unique Approach

31:06 The Future of Watch Auctions

41:13 Antiquorum's Biggest Lot: The Grubel Forsey Prototype

47:21 Upcoming Auctions: Phillips, Christie's, and Sotheby's

54:41 Unique Picks from Sotheby's and Christie's

Key Takeaways

* The recent CP Time event in Dallas was a success, attracting many new faces.

* Hong Kong auctions present challenges for US-based collectors due to timing.

* Phillips and Christie's continue to dominate the auction scene, but new players like Antiquorum are emerging.

* F.P. Journe remains a strong brand in the independent watch market, with significant auction results.

* Classic round watches are currently trending, appealing to collectors seeking timeless designs. I feel like brands that are more avant-garde are going to experience stronger headwinds as we move towards more classic styling.

* Antiquorum's approach to reporting auction results might be my favorite yet- they offer both the hammer and the all-in pricing for each of their lots.

* Comparing modern and vintage watches can reveal interesting insights into design evolution.

* Collectors are increasingly looking for intimate connections with their timepieces.

* The market for independent brands is growing, with collectors willing to invest in quality. The future of watch auctions will see a battle between modern and vintage pieces.

Want more?

With the New York Auctions around the corner, this will be the last major event before the summer break. If you want the inside line on auctions, market shifts, and what collectors are really paying attention to, subscribe to stay in the loop.

If you found this breakdown useful, share it with a fellow collector, a friend who missed out in Hong Kong, or anyone who’s curious about the independent scene. It helps more than you know.

Thanks as always for reading and for being part of a community that knows that there are still great stories in watchmaking beyond the hype.

I asked friend and collector advisor C'Q Gottlieb of Gottlieb & Co. (@C'Q_TheWatchGuy) to jump on with me and discuss the Spring 2025 Geneva watch auctions, the evolution of watch events, and the contrasting experiences offered by different auction houses. We look at the impact of auction results on the market, the rise of independent watchmakers, and the importance of collecting knowledge. Our discussion also touches on the balance between investment and passion in watch collecting, emphasizing the need for a deeper connection to the pieces being acquired. In this conversation, we highlight significant sales and the evolving landscape of watch collecting - discussing the impressive performance of independent watchmakers like Konstantin Chaykin and the challenges faced by established brands like Richard Mille and Greubel Forsey. We reflect on the vintage Rolex market, particularly the allure of mil subs, and anticipates future auction trends as the market stabilizes.

Takeaways

* The Geneva watch auctions showcased a variety of lots, highlighting the return to more unique pieces at auction.

* Intimate watch events are becoming rare, with larger gatherings often losing the personal touch.

* Auction houses like Phillips create a theatrical experience that enhances the bidding process.

* The market for independent watchmakers is growing, with collectors becoming more educated about their offerings.

* Knowledge about collecting specific brands is crucial for making informed purchases.

* The passion behind independent watchmaking is evident in the personal connections formed with collectors.

* Investment should not be the primary motivation for purchasing luxury watches.

* The landscape of watch collecting is changing, with a focus on personal enjoyment over financial gain.

* Understanding the history and craftsmanship of watches adds value to the collecting experience.

* The current market dynamics require collectors to be more strategic in their purchases. The auction results for independent watchmakers are promising, indicating a growing interest.

* Constantine Chaikin's pieces are gaining significant support from collectors.

* Richard Mille's market presence is softening, with lower auction results than expected.

* Grubel Forsey is returning to its roots, focusing on traditional craftsmanship.

* The vintage Rolex market remains strong, particularly for mil subs, despite its risks.

* Market sentiment is shifting, with collectors becoming more cautious in their spending.

* The secondary market for luxury watches is crucial for brand success.

* The excitement around thematic auctions is evident, but results can vary widely.

* Future auctions will be a key indicator of market health as we move into summer.

* The watch industry is returning to a more realistic market after a period of inflated prices.

Chapters

00:00 Introduction to the Geneva Watch Auctions

03:09 The Evolution of Watch Events

06:01 Auction Houses: A Tale of Two Experiences

08:55 The Impact of Auction Results on the Market

11:50 The Rise of Independent Watchmakers

14:57 The Importance of Collecting Knowledge

17:49 The Passion Behind Independent Watchmaking

20:54 Investment vs. Passion in Watch Collecting

27:57 Auction Highlights: A New Era for Watch Collecting

30:10 The Rise of Independent Watchmakers

32:41 Market Sentiment: A Shift in Values

34:44 Richard Mille: The Changing Landscape

39:31 Greubel Forsey: Balancing Tradition and Innovation

42:47 Vintage Rolex: The Allure of Mil Subs

48:59 Looking Ahead: Future Auctions and Market Trends

Thanks for listening this week. Stay tuned for more auctions updates and breakdowns as we work our way through spring auction season.

If you don’t already, please consider subscribing to my newsletter to stay up to date with my latest musings and insights on the industry.

Please share this article and spread the word to fellow watch enthusiasts and collectors, or the watch curious folks in your life.

Your support means the world and allows me to keep bringing value to the watch community. Thank you for being part of this journey!

In this episode, Todd from Idea 33 joins Alex and Leonard from Geneva Seal, along with special guests Dr. Mack and Claude Greisler from Armin Strom.

They discuss their excitement about the unique identity of Armin Strom watches. Claude highlights several new releases from Watches and Wonders, including the dual time GMT Resonance in stainless steel, the titanium skeletonized One-Week watch, and the limited edition purple Orbit.

Each guest shares their favorite pieces and the notable features that stand out to them. The discussion concludes with a look at future releases and innovations from Armin Strom, with some hints give by Claude about what Armin Strom will launch in the next year!

00:00 Introduction and Special Guests

00:24 Collector's Perspective: Dr. Mack

00:52 Retailer's Perspective: Alex and Leonard

01:35 Watches and Wonders: New Releases

04:36 Roundtable Discussion: Favorite Pieces

08:59 Future of Armin Strom

09:58 Conclusion and Thank You

What's happening watch fans? It's taken me a long time to get out a GWD reaction podcast - simply because there wasn't that much to get excited about. There weren't many new releases, unlike years past, and that's clearly in reaction to what's happening in the watch market. Instead of being a shot in the arm, I actually GWD has proven to serve as a community event and an event that brings collectors into the watch industry.

I asked my friend Baudouin van Es from Tourbillon Watch to provide some additional details on the event. I appreciate his insights and his willingness to share his thoughts.

I should have realized this was episode 33, but I forgot! Welcome back watch fans, Geneva Watch Days is two days away, so I guess that means my summer break is over and it’s back top bringing you updates on the watch industry and independent watchmaking.

This week I do a preview of what’s coming at Geneva Watch Days, what it signals in the market, and what to expect as the fall opener for the watch industry begins this week in Geneva.

GWD kicks off the fall auction season with the charity auction that benefits the Geneva Watchmaking School and auctions will follow in Hong Kong, Geneva, and New York. GWD is really the official end of summer and brings everyone together in Geneva.

There’s a lot to look forward to, but I think the response to this show will be telling about what is really happening in the industry. Will watch brands push the boundaries or remain conservative - we’ll know later this week.

Stay tuned for the follow up show this week with reports from the field, reactions, and my response to the new releases. 

And for those of you asking for the SR-71 speed check story, here it is!

What's happening, watch fans? I am excited to bring you the second episode of the MB&F Tales from the Tribe podcast in this special interlude that features me! I was honored to be asked by Max to participate in the podcast and to be the second episode. What a joy to share some time with Max and the team, and I hope you all enjoy the episode.

You can find MB&F Tales From the Tribe on your podcast platform of choice!

This second episode of our series features Todd Searle. Todd defines himself as a dreamer, which is the best way to talk about him. He is so passionate about artisanal watchmaking that he left everything behind to live fully in his passion, becoming one of the main directors of watchmaking documentaries in the world. Fierce protector of the spirit of entrepreneurship, he is the author of “32 Regrets : A Guide to Reclaiming Creativity”, where he talks about entrepreneurs who have successfully turned their life’s passion into self sustaining ventures, including Maximilian Büsser.

In this episode, Todd talks about failure as a major key to success, his love at first sight for artisanal watches, his passion for the history of Swiss watchmaking and most of all, about creativity as a major driver in his life.

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Tales From The Tribe is an MB&F creation, hosted by Maximilian Büsser. Production : Lacmé Studios & Converge - Author : Hugo Baiardi - Direction : Josh Vardey - Mix : Ben Auriel - Original Soundtrack : Pablo Altar-  Graphics : Maxime Schertenleib.

This is a special Forward Momentum interlude to bring you the MB&F Tales From the Tribe Podcast.

This first episode of our series features Wen Hsieh. He was, until recently, a managing partner at Kleiner Perkins, one of the world's most prominent venture capital firms in Silicon Valley, he's an expert at fostering tech innovations through startups, and he just started his own Hardtech VC firm Matter Venture Partners. Maximilian Büsser says that meeting him is one of the high points of his last couple of years, because as successful as Wen is as an entrepreneurial venture capitalist, he still cultivates a little touch of madness in everything he does. In this episode, we’ll talk about Wen’s childhood in the Amazon jungle living like a native Indian kid, Google’s historic first fundraise, the power of imagination in his daily life, his willingness to find work life balance as a busy venture capitalist, and finally the dream he wishes to achieve in the year to come.

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Tales From The Tribe is an MB&F creation, hosted by Maximilian Büsser. Production : Lacmé Studios & Converge - Author : Hugo Baiardi - Direction : Josh Vardey - Mix : Ben Auriel - Original Soundtrack : Pablo Altar-  Graphics : Maxime Schertenleib.

What's happening, watch fans? I am back with a quick interlude to share the MB&F Tales From the Tribe podcast. Max and team asked me to be a guest on the show in Episode 2, and I am honored to be featured on the show alongside Wen Hsieh. Please enjoy these two episodes of Tales From the Tribe, and you can find their show in your podcast player of choice.

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To Maximilian Büsser, founder of MB&F, watchmaking is art, but most of all, it’s a mindset, a journey. The history of watchmaking is filled with adventurers - dreamers, engineers, artists who will each in their own way contribute to a better world. The watchmaking journey is first and foremost about very special individuals. Some are rebels and mavericks and most have a little touch of madness…

Over the years, MB&F has united around the brand a collectors’ circle called “The Tribe”, who are each in their own way adventurers. In this podcast, you’ll discover their amazing lives, what drives their creativity and what feeds their passion for watchmaking. Welcome to Tales from the Tribe, the MB&F’s Podcast.

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Tales From The Tribe is an MB&F creation, hosted by Maximilian Büsser. Production : Lacmé Studios & Converge - Author : Hugo Baiardi - Direction : Josh Vardey - Mix : Ben Auriel - Original Soundtrack : Pablo Altar-  Graphics : Maxime Schertenleib.

In Part I of our Gerald Charles episode I was joined by Franco and Federico Ziviani of Gerald Charles, Alex Kats of Geneva Seal in Chicago, @Jardins_des_rois, and @gregwatchman for a chat on the brand, building on the legacy of Gerald Genta, and the future of design at Gerald Charles.

In Part II, we return well fed thanks to GT Prime Steakhouse, but return with special guests Evan Turner and Andre Iguodala, and Charles Taylor to talk more in depth about Gerald Charles, and honestly, more about what make watches interesting.

We discuss the design and features of the Gerald Charles lineup, including gem set watches and the Maestro GC Sport. We also talk about the inspiration behind the brand and the importance of storytelling. The future of Gerald Charles includes expanding their collection with more complications and maintaining their focus on limited production. They also hint at a possible extension of the tennis collection and potential future collaborations with other sports, such as Formula 1.

I’ll apologize in advance (again) for the sound quality - we had a rough time passing mics around the table and resorted to an omnidirectional mic for some of the channels.

Chapters

00:00 Introduction to Forward Momentum and Independent Watchmaking

01:44 Exploring Gem Set Watches and Tennis

04:02 The Future of Gerald Charles

08:25 Fashion and Style in London

14:38 The Design and Features of Gerald Charles Watches

15:36 The Future of Gerald Charles: Complications and Limited Production

19:11 Closing Remarks and Shoutouts