It Costs How Much? – A Visual Exploration Of What Drives Value (Part.1)
One of the questions we get asked most often here on The Watch Lounge is why some timepieces cost what they do. In some instances it is easier to explain as the overt designs and exposed complications make the level of skill and craftsmanship, not to mention hours of labor, required apparent, even to the casual observer. In other cases it is purely marketing hype and branding, and the reality is that the actual price has been far inflated over the true value of the timepiece.
However, there are also a number of timepieces, especially those that follow more traditional design principles, where the reasons why they command such premiums is slightly more challenging to elucidate. Often the real value in these timepieces is found in the detail, the little touches which whilst appearing simple have actually involved a significant amount of thought and skill to achieve. Or the incredible amount of time and money spent on research and development in the lead up to the realization of the final product. Few people when looking at an in-house calibre, especially one without any dramatic complications such as a tourbillon, appreciate that it is the result of at least 2 or 3 years research and development.
That’s why we’ve decided to attempt something a little different. Using Peter Speake-Marin’s superb new Marin 2 Thalassa valued at around US$58,000 (which we’ve reviewed in detail here) as our model and the gorgeous photography of French master Guy Lucas de Peslouan (more on him later this week), over the coming week we are going to give you a very up close and personal tour of this stunning timepiece, complete with descriptions from its creator, in a bid to convey just what makes it so special and deserving of the value that has been placed on it.
We hope that you enjoy and as always all questions and comments are welcome.
A close up view of the stunning regulating system with double micro regulation.
© Guy Lucas de Peslouan
Close up look at the casing screws. All the screws are finished by hand before final assembly takes place to ensure the best possible end result.
© Guy Lucas de Peslouan
M2 stands for Marin2, the number above is the number of the SM2 movement in order of being made, therefore this one is the second movement to be made.
© Guy Lucas de Peslouan
The 18k plaque is angled by hand and the laquer is then also applied by hand before being mounted on the barrel bridge.
© Guy Lucas de Peslouan
A stunning view of the large diameter barrel jewel. As with all the jewels and all the components in the SM2, this piece has been made specifically for this calibre.
© Guy Lucas de Peslouan
A detailed image showing the vivid contrasts between materials, forms and angles.
© Guy Lucas de Peslouan
Be sure to join us to tomorrow as we continue this journey of exploration!
Category: Special Features
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Tom is the founder and editor of The Watch Lounge. Together with his team he is dedicated to bringing you the best, original content you won't find anywhere else on the net.Subscribe
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Interesting topic indeed Tom, and often discussed but seldom with good information. I think a lot of it has to do with the sheer costs of production (a process that can take 3-5 years as you point out), workmaship (who the designer might be), and simple availability. Rare pieces are more expensive of course. But I think it’s the same in other industries like automobiles and boats.
I hope you bring Hublot into the mix as part of this discussion at some point
It’s always interesting to me knowing that the average price of a watch in the US (for example) last year was, unless I’m mistaken, around $128 
Money is the trend topic on the watch web these days, following Meehna Goldsmith reflexion on watch investment. And below this question is also the real value for money ?
What are you paying in a price watch, marketing or original in-house movement ?
Brand awareness or quality movement ?
I agree with Jerome. The meticulous nature of creating watches is not only timely but tedious. Think about it for a minute, how many things that you own that are literally handmade or have over 100 man hours put into them.
Also, the materials used in the upper echelon timepieces are of the purest of quality. High-end cars have great engines, suspensions, and brakes but often have cheap leather and/or plastic inserted here and there. Yachts might be an exception to having cheap inserts here and there (depending on type, make, and model).
I’m not oblivious to money being transferred to the cost of the timepiece from branding, marketing, and prestige but the requirements to construct a grand complication compared to a battery powered timepiece is astronomical.
Great comments, thanks guys. Maybe one last thing about these ‘high’ prices is the volume of wastes. In some manufactures it can reach 90%. With materials such as gold, titanium, etc., at the end of the day, the bill can fly pretty high…
Hey everyone, thanks for all the great comments, really glad to see that this topic is resonating with our readers. This is certainly an area we will continue to explore in more detail, and once we finish out photo essay on the Marin 2 we will be widening our scope to encompass other brands and timepieces.
Please feel free to send us your thoughts or suggestions on what you think the key areas to address in that type of discussion would be and we will be more than happy to factor them into our future work.
I have to say from a personal point of view it’s always fascinating for me to discover how tight the margins are on many of these exceptional timepieces, especially those created by the independent watch-makers. No expense is spared in the pursuit of achieving perfection, and it really does become a labour of love to a degree as in many instances they can never hope to make back a fraction of the costs they incur in the design and construction stages.
But then again, I guess that’s why they call it art
Good angle Tom – and sometimes they even call it “Art of Fusion”
Seriously though, I didn’t know this until recently but Rolex is the largest gold consumer in Switzerland and possibly the world – although not sure on the latter. Given the rise in cost of materials used to produce watches on world markets, I suspect prices of conventional precious metal pieces will perhaps increase in the high-end range (this is pure personal speculation on my part). That’s one reason it’s interesting to trial & error with new materials and techniques – something Hublot is very adept at – as it may yield better pricing flexibility (and smoother supply line).