Readers who might enjoy this article are:
• Watch lovers
• Questioning what makes a fine watch fine
• Interested in jewelry as an investment
• People who love the history of watch making
The Difference Between an $8 Million Watch and an $8 Thousand Watch is not just money. This is a two part article. If the $8 Million watch peaks your interest then skip the first part and jump into The Story Behind the $8 Million Vacheron Constantin Pocket Watch.
If you’re not interested in the history behind the finest of the finest watches our first part about the new $8,000 Rolex GMT-Master II Pepsi just might be for you. Rolex fans have been waiting since 2014 for this next generation Rolex GMT-Master II.
Along with the Submariner and the Daytona, the GMT has been a cornerstone of the Rolex brand. Like every industry, Rolex keeps growing its brand with new products, but refinements walk a fine line between usefulness and luxury in design and function.
In 2014 the Pepsi bezel GMT was in white gold and fans were disappointed that they couldn’t get it in steel and now they can. The newest Rolex GMT-Master II Pepsi bezel has a Jubilee bracelet in stainless (Oystersteel) steel.
The last stainless steel GMT-Master II came out in 2013. It was called “Batman” and had a blue and black bezel. Many new products are iterations as is this Rolex Pepsi. Carried forward is the same Cerachrome red and blue two-tone bezel with 24-hour, night/day indication and the same black dial with luminous dot indexes.
So what is new about this GMT-Master? On top of the ten patents on this watch, there are four new refinements to make this GMT-Master stand out. First, it has a Jubilee bracelet that hasn’t been seen on a GMT-Master since the vintage years. The only Rolex currently sporting a Jubilee bracelet is Datejust models.
Secondly, the bracelet is made of Oystersteel and has an Oysterlock clasp that offers a 5mm comfort extension to accommodate hot summer days water retention or that holiday you overate. Next is a more significant Chronergy escapement that has been added to new Rolex movements, allowing for a 15% gain in efficiency. And finally the Rolex GMT-Master II Pepsi boasts 70 hours of power reserve beating out other watch reserves of 48 hours.
Model: GMT-Master II
Reference Number: 126710BLRO
Case Material: Oystersteel
Dial Color: Black
Indexes: Applied white gold
Lume: Chromalight on hands and hour markers
Water Resistance: 100 metres
Strap/Bracelet: Stainless steel Jubilee with Oysterlock
Functions: Hours, minutes, seconds, date, GMT
Power Reserve: 70 hours
COSC Chronometer Certified
Price: CHF 8,800
As you might suspect, these watches are not covered by your homeowner’s insurance personal property coverage. As you grow your jewelry collection, it’s value increases and a documented appraisal is the basis for appropriate insurance.
Once you receive your appraisal, you should review your homeowners or renters insurance policy to see if the value of your jewelry is within the maximum dollar limit your insurance carrier will pay if an item is lost or stolen.
Brady Insurance Group is a proud agent for JIBNA Personal Jewelry Insurance. A JIBNA standalone policy provides broader jewelry coverage than typical homeowners policies. Unlike homeowners policies, JIBNA doesn’t require a new appraisal every two years. They use patented software that analyzes the value of each item while keeping premiums to a minimum. This analysis is done at renewal time, so you’ll know your coverage is appropriate. Like all our 50+ A-rated companies, the JIBNA premiums are highly competitive.
JIBNA Personal Jewelry Insurance files are claim ready with all the relevant docs like appraisals and lab reports. Download the JIBNA product information brochure to learn more then call the dedicated team at Brady Insurance Group –(click to call if you are on a cell phone) 866.764.1944 and let us guide you through the jewelry insurance process.
The Story Behind the $8 Million Vacheron Constantin Pocket Watch
There have only been a few times in history that a watchmaker has claimed they’ve built the most intricate timepiece ever manufactured. This past September luxury watchmaker Vacheron Constantin revealed to the world a most elegant pocket watch Reference 57260, which they say took an entire team of master watchmakers and dial specialists eight years to design and build.
An anonymous American collector of impeccable taste commissioned the watch, who experts say comes with an $8 million price tag. The wealthy American turned to the Atelier Cabinotiers Division of Vacheron Constantin with a challenge: to create the most complicated watch the world has ever seen. He stipulated that it must have a Hebraic perpetual calendar plus a unique split-second chronograph which would simultaneously time multiple events. These technically advanced innovations have never before been integrated into a watch.
This exquisite watch measures about 2 inches in diameter and is made with an 18-karat white gold case, weighing about 2 pounds. This remarkable timepiece has nearly doubled the number of complicated features of the previous record-holder: 33. Inside there are more than 2,800 minuscule components that comprise its revolutionary movement. These mechanical pieces alone took almost two years to assemble. In all, ten new patents resulted from creating this extraordinary timepiece.
The Reference 57260 (named in honor of its 57 complications and the 260th anniversary of Vacheron Constantin) is without a doubt a remarkable feat of craftsmanship, precision, and technology, but it does beg the question: “Why is someone willing to wait eight long years for their watch to be made?”
The answer lay in the 1920s and 1930s when two of the wealthiest Americans banker Henry Graves and automotive giant James Ward Packard commissioned the top two watch brands, (Patek Philippe and Vacheron Constantin, respectively) to produce the most complicated and intricate watch in the world.
Both took years to build, but the result was that two incredible works of art were created. In fact, the Supercomplication pocket watch that Henry Graves commissioned from Patek Philippe, which was finally unveiled in 1932, sold for a record $24 million at Sotheby’s Geneva in November 2014.
Vacheron Constantin CEO, Juan Carlos Torres said, “This challenge harks back to the great collectors of past decades. They are credited with encouraging brands to reach for the heavens in creating the unimaginable. Many of the most renown watches of all time were produced as a result. That it is another American who commissioned this work of art is fascinating.”
The pressure to push the limits of creativity, design, and technology was incredible. “Since the most intricate watch before this one included 33 complications, our goal was for 36 complications,” said Dominique Bernaz, who heads the Atelier Cabinotiers division. “As the process unfolded, I would often ask the team if they honestly thought we could accomplish this, and they would grin and nod yes.
We were mid-way through development before we understood just how many complicated mechanisms the watch would end up having, simply because the project kept changing and evolving. “Every complication is an amazing achievement,” added Bernaz, “but combining all 57 of them within one timepiece, that was the biggest challenge.”
The question now is, “Will this pocket watch set off a new rivalry in innovative watchmaking among the wealthiest collectors of the 21st Century?” We will see in time.
Whatever your taste in watches or jewelry, make sure it is insured. Call (click to call if you are on a cell phone) 866.764.1944 and let the Brady Insurance Group dedicated insurance professionals guide you through the jewelry insurance process.