In the store windows of Old England 12 Boulevard des Capucines (IXe), cashmere jackets will soon yield the way to luxury watches. The windows are screened, but the facade, a listed building will be preserved.

In recent weeks the rumors ran. It is now official. "We will open in Paris on the world's largest store for luxury watches," announces Jörg Baumann, director of marketing and brand development Bucherer.

Swiss Family Group founded in 1888, with 1,200 employees in 26 stores spread between Switzerland, Germany and Austria, Bucherer is not his first attempt. His watch store in Lucerne (Switzerland), on 1200 m2, already carries the biggest sales of the world in this sector. With the opening in early 2013, its flagship store in Paris in the heart of the Opera, between the Place Vendome and the Boulevard Haussmann, which will have 2000 m2 on three levels, the results will explode.

The area of ??the Opera is a strategic

The sign Old England occupied the premises for 144 years. But Albert Goldberg, son of the founder Façonnable , who had acquired it from the Richemont Group, may not have been sufficiently profitable investment. "The rents are very high and we are 50 employees," said one employee. Here, we expect a social plan for March 31, 2012 closure. But in the shop, the British phlegm is required and the smile of vendors remains irresistible. "This is the time that does it. Even the best brands of old Europe will not last forever, "sighs one of its customers elegant at the news. Place now for the Chinese and Asian customers, which will make its next stage of shopping. The area of ??the Opera is strategic to capture these tourists with high purchasing power. Coming out of the Rue de la Paix and the spaces before entering the luxury Printemps and Galeries Lafayette, the address will be ignored.

It is ultimately the Richemont Group - owner of Jaegger Lecoultre, Cartier and Piaget - which took over the walls. He has entrusted to Bucherer. "We signed a lease ... long term," says Jörg Baumann. Rolex, Piaget, Breitling and the Swatch Group, have already agreed to participate in the adventure. Chopard, TAG Heuer, Baume & Mercier, Longines and Gucci are already working long association with the Swiss group. "We focus on the refinement of the framework, the design, service quality and relevance of advice," says Group CEO, Jörg G. Bucherer. "Paris is the capital of luxury and the preferred destination for tourists worldwide. The growth potential is still very important, "says Bucherer home to explain his first establishment in France.

Memovox Tribute to Deep Sea :
a re-edition in tribute to the legend of diver’s watches

There are some watches that leave an indelible trace on our collective memory because they have written a page in history. The Memovox Deep Sea, the first diver’s watch ever made by the Manufacture Jaeger-LeCoultre, undoubtedly belongs to the select circle of such milestone  instruments. After presenting in 2008 two faithful interpretations of historical diver’s watches, the Memovox Tribute to Polaris 1965 and the Memovox Tribute to Polaris 1968, the Grande Maison in the Vallée de Joux is pursuing its journey through time and returning to the very roots
of the diver’s watch by introducing a re-edition of the 1959 Memovox Deep Sea, logically named Memovox Tribute to Deep Sea. The distinctive characteristic of the original model lay in the fact that it was interpreted in two versions: one intended for European sports enthusiasts and the other for American divers. In homage to its rich past and to the delight of fine watchmaking connoisseurs, the Manufacture Jaeger-LeCoultre is unveiling a faithful limited-series re-edition of the two 1959 Memovox Deep Sea models.

Rebirth of an icon
The Memovox Tribute to Deep Sea faithfully replicates the original model, except in one respect: the stainless steel case has been slightly enlarged from 39.8 to 40.5 mm in order to match contemporary requirements – and wrists. The case-back carries the motif appearing on the 1959 watch, featuring a frogman surrounded by bubbles. And, as one would expect from a new creation paying homage to its illustrious predecessors, the Memovox Tribute to Deep Sea also comes in two versions, each bearing the appearance of one of the historical variations.
While the European model features a matt black dial with luminescent hour-markers, its American counterpart is distinguished by a two-tone black/grey execution surrounded by an external ring comprising a scale with five-minute graduations and simply signed “LeCoultre”. The two versions offer the same range of functions: hours, minutes, central seconds and an alarm. A crown at 2 o’clock serves to wind and set the alarm, while another at 4 o’clock is used to wind the movement and set the time. Both models are driven by Memovox Calibre 956, an automatic movement incorporating the latest technological developments from the Manufacture and which has decisively demonstrated its reliability over the years. This descendant of the first manually-wound Memovox calibre beats at a rate of 28,800 vibrations per hour and is endowed with a 45-hour power reserve.

In the early 1950s, humankind was fervently dedicated to building a new world. Modern individuals were dynamic and intrepid, embodying the values of a future-oriented era and keen to set off on the discovery of new territories focusing on the unexplored heart of continents, the infinity of the cosmos, and the ocean depths. In 1957 the USSR launched the first artificial satellite of the Earth. A few months earlier, Jacques-Yves Cousteau and Louis Malle had unveiled the fascinating mysteries of underwater life in the film entitled The Silent World and which was acclaimed by critics at the Cannes Film Festival and subsequently by the public at large.
Commander Cousteau’s passion was soon shared by a growing number of eager scuba diving fans, especially once the simultaneous invention of a revolutionary diving bottle fostered the spread of this promising young discipline. A new kind of sports enthusiast emerged, requiring
instruments suited to the exercise of their recently developed passion and able to help them successfully undertake their adventurous missions below the sea.

In order to meet demand from American enthusiasts of this booming sport, Jaeger-LeCoultre launched a daring project in 1959 involving the development of a diver’s watch. This represented largely uncharted territory at the time, with no criteria stipulating the demands that should be met by this unprecedented category of timepieces, and almost 20 years were to elapse before the adoption of the NIHS norms applicable to diver’s watches. The watchmakers and technicians of the Manufacture immediately set to work and that same year presented a watch endowed with a degree of reliability and performances that were truly exceptional in that early period of underwater exploration. The Memovox Deep Sea was the world’s first diver’s watch equipped with an alarm function. Jaeger-LeCoultre engineers devoted the full measure of their inventive skills to transforming the alarm generally featured on Memovox watches into an acoustic signal designed to warn divers that it was time to begin their progressive ascent to the surface. In keeping with an essential principle consistently upheld by the Manufacture, functionality was already dedicated to serving security.

The new timepiece in both versions met with spectacular success on either side of the Atlantic.
This iconic diver’s watch soon sold out and became a legend of which only a rare few collectors
were able to glimpse the reality.

The Memovox tribute to Deep Sea is issued in two limited series: 959 reproducing the “Jaeger-LeCoultre Classique 1959” intended for the European market; and 359 inspired by the “LeCoultre Spécial Amérique 1959”. The last two digits of each edition echo the birth year of
this legendary watch. And finally, driven by a determination to pay homage to one of the treasures of the company heritage, the watchmakers of the Manufacture have chosen to protect the dial of the Memovox Tribute to Deep Sea with a Plexiglas watch glass absolutely identical to
that which equipped the historical models – exactly the kind of detail that connoisseurs will appreciate at its true worth.

Memovox Tribute to Deep Sea
Replica of the “Jaeger-LeCoultre Classique and Amérique 1959”

If you wish to understand much more about the re-issue of the Jaeger-LeCoultre Memovox Deep Sea, here you will find a fine article by AMANICO at WatchPurist, click on this link: WatchProsite

Omega's astute sense of timing has helped the Swiss watchmaker to clock up successes in the Chinese market, the Olympic Games and even outer space. Its president Stephen Urquhart explains. By Chuang Peck Ming

APPARENTLY, no one working at Swiss watchmaker Omega is allowed to utter the name of any competitor watch brand while on duty. Not even the boss. And giving an interview to a reporter absolutely counts as being on duty. What you say will go into print and reach your staff and the big boss.

'I can't mention names,' Omega president Stephen Urquhart says guardedly. 'We're not the only one, don't get me wrong. There are other brands that have core values - there are a few top brands that will come out of this strongly. You know what I mean,' he says, jabbing the Rolex on my wrist with his finger.

We are chatting about the big blow which the 2008-09 recession has dealt on the watch business. Other than being reticent about mouthing the names of other big watch brands, Mr Urquhart, who kicked off his career at Omega in 1968, speaks his mind freely.

Many wannabe watchmakers, who jumped on the bandwagon when the industry was booming, have now dropped out of sight, or will soon disappear, according to Mr Urquhart. Only those with strong core values have been left standing.

Omega, part of the multi-watch brand Swatch Group and by many estimates the world's largest watchmaker, is of course among the survivors. Watch names with substance are now more appreciated by customers, says Mr Urquhart. These are not necessarily those that are the oldest in the business, but they are 'the most consistent, the most coherent in their approach'.

'In all modesty, I don't think another company could handle the Games. You're talking about 300 people on site, plus 100 going there a year in advance to prepare. There are thousands of kilometres of cables to lay. It's a big, big enterprise to time the Games.' -- Stephen Urquhart

The Great Recession has rid the industry of its excesses. 'What the economic turmoil did, this is good for the consumer, good for business in general,' says Mr Urquhart, who worked from 1974 to 1997 for top-end watch label Audemars Piguet, before rejoining the Swatch Group to head its high-end Blancpain brand.

It used to be that the higher the price of a timepiece, the more sought-after it became. 'I remember being told by people around the world about the Russians coming in and saying they wanted to buy an Omega. They would look at the watch and say, 'Why $10,000? Don't you have one that's $100,000, $200,000?',' relates Mr Urquhart who became Omega's president in 1999.

Watch buyers have now become more knowledgeable - often more so than the salesmen - and saner, according to him. 'I see a bit of a return to value, which is a good thing. Let's keep our feet on the ground, let's not go crazy.'

While total sales of luxury timepieces were slashed by up to a third last year, Mr Urquhart says that Omega's were up. 'Our own boutiques' worldwide - the best barometer of real sales, because here there are no discounts - were up 17 per cent in 2009 over 2008, which is fantastic, a very strong figure,' he says.

Industry observers say it helped that Omega's exposure to the American market - where Swiss watchmakers saw their exports plunging 38 per cent last year - was small. Omega has a bigger presence in the Asian market, which continued to grow during the 2008-09 global slump.

While the industry is now trying to regain sales lost in the downturn, Mr Urquhart says that Omega's sales in Singapore have already surpassed pre-recession levels. 'We're doing a good job here. We have good distribution - we have cleaned up distribution. We have three to four boutiques.'

Mr Urquhart is proud of Omega's big product base, perhaps the biggest in the business. But it's the distribution that he finds most challenging, and where he says Omega is putting its 'biggest efforts'.

'I think the watch distribution network is where I've been most active,' he told the watch-fan website PuristSPro in September. 'Obviously, marketing is very important; product development obviously. The Planet Ocean (model) was a great success, the Hour Vision is a fantastic product, the ladies mechanical movement was a real breakthrough for us. All that's very important, but without proper distribution, you defeat your purpose.'

China connection

Omega's smartest move was probably to move into China before its rivals do. 'We knew the potential. What is incredible is the middle class in China,' says Mr Urquhart, who holds Swiss and British passports. It still has a long way to go before it can catch up with Japan or America, but the Chinese middle class is strong - and it has expanded 'quite' quickly, according to him.

'I can't imagine any luxury brand today surviving in this environment without the Chinese consumer,' Mr Urquhart says. 'You have to be blind not to see China's potential.'

Apparently, many were. And so when the big names in watchmaking rushed into the Chinese market when it opened up in the 1990s, Omega already had a good headstart.

The Swiss watchmaker actually first stepped into China over a century ago. 'We've been there all those years, and even during the years when the mainland was closed to the world,' Mr Urquhart says. 'We made our first watch there - I have it in our museum - for the Chinese Railway. It's a pocket watch.'

Omega also struck up a connection with the Chinese government, supplying it with watches to give away as official gifts. Today, Omega is the No 1 luxury watch brand in China - and China is its No 1 market, Mr Urquhart says.

'But we have to fight for it, we have to be very vigilant. Don't get me wrong. We're not completely fixed on China, but it's such an incredible market and has such potential. It's not just Beijing or Shanghai, it's the whole country. We still have plenty of room to grow.'

Sure, he concedes, the Chinese consumer who buys an Omega timepiece today will advance up the income ladder and upgrade to a pricier brand. But Mr Urquhart says that many others will also move up from the bottom and want to own an Omega. Besides, he adds, Omega has such a wide range of models that it can easily cater to those who have progressed from middle to upper-middle income.

The Beijing 2008 Olympic Games was a new high for China; it also helped lift Omega's standing in the eyes of the Chinese consumer.

'Obviously, to be part of the Games in Beijing for us was an incredible opportunity to make the brand known in China,' Mr Urquhart said last year in an interview with E&T magazine, a British publication targeted at engineers and technologists.

'For the Chinese, it was such an important event for them,' he said. 'We saw the result there: We saw the build-up, during and after. If the brand is strong today in China, then the Olympics has doubled our strength there.'

Olympic achievement

As the official timekeeper for the Olympics, Omega's name and logo appeared in virtually every event of the Games. The brand was clearly visible to every Chinese consumer while the Games were on in Beijing, and also to billions of sports fans around the world who watched the event live on TV every night.

'Though I can't prove to you that it (the exposure given to Omega by the Olympics) relates to sales, I'm 99 per cent sure that it adds to the overall positive image of the brand, very positive,' says Mr Urquhart, who was in Singapore for the inaugural Youth Olympic Games.

Omega, the first-ever watch brand to be commissioned by the International Olympic Committee (IOC) as its official timekeeper, has been linked to the Olympics since the Games kicked off in 1932 - and it has recently inked a timing deal with the IOC that will last until at least 2020.

Omega has been the Olympics' official timekeeper for so long that not many people remember the other two watch brands - Swatch and Seiko - that had briefly played that role. In more recent years, the Japanese brand was the timekeeper for the 1992 summer Olympic Games. Swatch took over in 1996.

'One of the first things that I pushed for when I took over Omega in 1999 was to get Omega back in that role, especially when we knew that the Games were going to be in Beijing,' Mr Urquhart recalls. 'Beijing is a very important market for Omega.'

He sees the Olympic Games as part of the brand's DNA. Tying up with the Olympics has helped Omega to build an image of seriousness, reliability and quality, he says. 'We don't sit down and ask ourselves, 'Do we as part of our strategy sponsor or become a partner for the Olympic Games?' It's part of our future and it goes without saying.'

He's pretty confident that Omega today has got the Olympic Games deal locked up for good - at least for a long, long while. 'Nothing is guaranteed in life, but honestly today, in all modesty, I don't think another company could handle the Games.'

Mr Urquhart is talking about the know-how, the infrastructure and the organisation that the official timekeeper of the Olympic Games is saddled with these days. The job would be too massive for another watch brand to handle.

'You're talking about 300 people on site, plus 100 going there a year in advance to prepare. There are thousands of kilometres of cables to lay. It's a big, big enterprise to time the Games.'

When Omega first started as the official timekeeper for the Games, it sent only three representatives armed with just a hand-held stopwatch each to clock the races. Today, it's a big exercise that involves research and development, high technology and an army of planners, engineers, technicians and workers.

'It's a whole system,' Mr Urquhart says. And Omega's job today is not just simply to time the Games accurately; it is also involved in many of the technical developments - the photo-finish cameras, the touch-pad and kick-pad for swimming, and a whole list of things.

It is responsible for the back-up system and also for making the races 'more meaningful' for the world audience to watch.

The IOC pays Omega for its services and the watchmaker buys back from it the marketing and commercial rights. 'It's all part of the deal, a win-win situation,' Mr Urquhart says.

Omega's marketing foray also extends into golf, sailing and other sports. But Mr Urquhart says that they are nothing like the Olympic Games. 'The Olympics is every sport, every medal. It's all timed by Omega. That's why we put the Olympics on a different level from any other sport.'

The Olympics provides Omega with the TV coverage worldwide. 'We're the only brand visible on TV - the only one,' Mr Urquhart says. 'I don't have any proof but I'm convinced it's important to the brand. It would be the last investment we scrap.'

Moon landings

Along with Omega's linkage with NASA, perhaps. Its Speedmaster watch model, in particular, is famously worn by the astronauts in the United States' moon-landing and space programme. In fact, Omega marked the 40th anniversary of the moon landing last year with a new limited-edition timepiece, pumping more money than usual into a TV commercial using the late president John F Kennedy to sell it.

'The JFK TV commercial was fantastic,' Mr Urquhart told US WatchTime magazine soon after the advertisement made its debut. 'It seemed as though every TV station had big, long programmes on the moon story. I don't remember seeing those 10 years ago. Maybe the fact that we were in the middle of a financial crisis made this a message that the American people related to - nostalgia for a better time, some good news, not some damn broker saying the stock market would go down.'

peckming@sph.com.sg

Stephen Urquhart
President, Omega

Jaeger-LeCoultre delivers the first Master Compressor Diving Alarm Navy SEALs Beverly Hills Boutique Incursion Editions at the Jaeger-LeCoultre Navy SEALs mini BUDs delivery event in Coronado.


Since the announcement of the partnership between the US Navy SEALs and Jaeger-LeCoultre with the unveiling of the Master Compressor Diving Navy SEALs collection in 2008, two US Navy SEALs have been using the Master Compressor Diving Navy SEALs alarm during their deployments and operations around the world, gathering performance information about the watch in an operational and tactical environment.
January 2010, Jaeger-LeCoultre had the pleasure to announce the extension of their Navy SEALs line with timepieces exclusively created for its Beverly Hills Boutique. The natural progression for the Master Compressor Diving Navy SEALs line was to create the Incursion Edition for the Jaeger-LeCoultre Beverly Hills flagship. The geographic proximity to the Navy SEALs training base in Coronado has created a particularly strong following for the Master Compressor Navy SEALs collection. Due to this strong US following of the Navy SEALs and Jaeger-LeCoultre partnership, the Beverly Hills Boutique set out to create a penultimate edition for its most passionate enthusiast.


The original Master Compressor Diving Alarm served as the optimal base platform housing a majority of the purposed needs for the Incursion Edition. Jaeger-LeCoultre’s perpetual quest for innovation, further adjustments and improved design details were employed to create subtle yet important changes to further optimize this Edition for its required usage.


Highly symbolical, these very exclusive limited editions pay tribute to the origins of the Navy SEALs as this elite unit was established by President John Fitzgerald Kennedy in 1962. This monumental point in history was a big inspiration to the Incursion Edition theme, with the final number of pieces being a permutation of the numerals “1962”, with 19 pieces for the black titanium version and 62 for the grey pvd version.


Such a dynamic watch deserves nothing short of an explosive delivery. Last week, Jaeger-LeCoultre and CEO Jerome Lambert hosted the first Jaeger-LeCoultre Navy SEALs event in Coronado, California for friends and enthusiasts of the brand. Both Navy SEALs who have tested and evaluated the Master Compressor Diving Navy SEALs timepieces were present to give a brief look into the world of this elite group of men to discuss their experiences with the watches. Guests were given the opportunity to truly see the integrity, strength and pride that goes along with being a SEAL. A lucky few participants were presented the first delivered Incursions by the SEALs to wear with the knowledge that these same qualities were used in making their timepieces.




The SEALs will continue to wear the watches, give feed back, and document their experiences in order to advise Jaeger-LeCoultre on further Master Compressor Diving Navy SEALs editions to come.


Technical characteristics of Jaeger-LeCoultre Master Compressor Diving Alarm Navy SEALs Beverly Hills

Movement: Mechanical automatic Jaeger-LeCoultre Calibre 956, crafted, assembled and decorated by hand; 28,800 vibrations per hour; 45-hour power reserve; 268 parts; 23 jewels; 7.45 mm thick

Case: 44 mm in titanium with black pvd coating or grey pvd coating

Functions: hours, minutes, seconds, date white numerals transferred against a black background, alarm

Dial: Color accents: Orange or yellow on the second hand tip and compressor crown arrows with addition of the same color to inner ring numerical five second interval markings.
- Black outer ring with stamped and luminescent hour-markers and numerals,
- Charcoal grey inner alarm ring with circular finish matching the case

Hands: hours and minutes with trapeze-shaped, open worked, luminescent

Crowns: one black rubber-molded crown at 2 o’clock equipped with a compression key, for winding the alarm, adjusting it and fast date adjustment.
one black rubber-molded crown at 4 o’clock equipped with a compression key, for starting the watch and adjusting the time.

Straps: black leather with matching orange or yellow stitching and PVD buckle. Diving strap in black Cordura.

Accessories: Unique packaging that goes hand in hand with the theme of Incursion Edition.

Hayek had left succession orders at the Swatch Group, where he served as chairman, and business activity had already been handed over to his son in 2003, the Swatch Group said, according to the SDA news agency.

Born in 1928 in Beirut, Hayek became a key figure on the Swiss business scene after he merged watchmakers that were being liquidated and formed Swatch in 1985. At the time the Swiss horology industry was in crisis, in part because of cheaper competition from Asia. The company now employs over 24,000 people and has annual sales of over 5 billion dollars. Nicolas Hayek himself became known for his cigars, multiple watches, outgoing style and comments on politics and economics.  (Communiqué END from Earth Times)

More from the The New York Times

Nicolas Hayek Dies at 82; His Swatch Saved an Industry

By MARGALIT FOX - Published: June 28, 2010

Salvatore Di Nolfi/KEYSTONE, Via Associated Press
Multiple Print Captions: Nicolas Hayek was asked to help
shut the troubled Swiss watch industry, but instead he revived it by introducing the Swatch.

Nicolas Hayek, a Lebanese-born business consultant who is widely credited with having saved the Swiss watch industry with the introduction of the Swatch, the inexpensive, plastic — and, as it transpired, highly collectible — wristwatch that made its debut in 1983, died Monday in Biel, Switzerland. He was 82.

Mr. Hayek, a founder and the chairman of the Swatch Group, died of heart failure while working at the company’s headquarters, according to an announcement on the company Web site.

The formation of the Swatch Group, which in addition to Swatch today comprises high-end watch brands like Breguet, Omega, Longines, Tissot, Calvin Klein and Mido, made Mr. Hayek one of Switzerland’s wealthiest men. The exquisite irony is that the company came about after Mr. Hayek was brought in to help shut the foundering Swiss watch industry altogether.

A flamboyant figure with a roguish sense of humor, Mr. Hayek was “a rare phenomenon in Europe — a genuine business celebrity,” as The Harvard Business Review described him in 1993.

Nicolas Hayek was born in Beirut in 1928 and moved to Switzerland as a young man. After studying mathematics, physics and chemistry at the University of Lyon in France, he started a consulting firm, Hayek Engineering, in Zurich in the early 1960s.

By the 1970s, the vaunted Swiss watch industry, a pillar of the national economy for centuries, was in jeopardy. Japanese watchmakers like Seiko had begun to undercut Swiss prices. And public tastes were shifting from the finely wrought analog timepieces in which Swiss artisans had long specialized to the pale flickering faces of mass-market digital watches.

In the early 1980s, with no apparent remedy in sight, a group of Swiss banks asked Mr. Hayek to compile a report on how the watchmaking industry might best be liquidated. Instead, he merged two of its former titans, Asuag and SSIH, which between them owned brands like Omega, Longines and Tissot.

Mr. Hayek bought a majority stake in the reorganized group, known as SMH — the Société Suisse de Microélectronique et d’Horlogerie. (He was fond of telling interviewers that the initials stood for “Sa Majesté Hayek” — “His Royal Highness Hayek.”)

In 1983, SMH introduced the Swatch. Lightweight, with vibrantly colored bands and breezy novelty faces, it was remarkably inexpensive to produce. (It had 51 parts, as opposed to the nearly 100 needed to make a traditional wristwatch.) It retailed for less than $35 when it was first marketed in the United States later that year.

The Swatch quickly became a sought-after collector’s item worldwide. It was very likely the first time that ordinary people had even considered owning multiple watches. (Mr. Hayek himself was known to appear in public wearing as many as eight — four to an arm — though at least a few of these were from his luxury brands.) Several hundred million Swatches have been sold since the brand’s inception.

The success of the Swatch also resuscitated the high-end brands under the SMH umbrella. The company, whose name was changed to the Swatch Group in the 1990s, generated about $4.9 billion in sales last year, The Wall Street Journal reported on Monday.

By redirecting consumers’ attention to Swiss watchmaking as a whole, the little plastic watch lifted all boats. Even the expensive brands, like Breguet, “we will continue to sell — and sell well,” Mr. Hayek told the publication Swiss News in 2008. He added, “We sell the mentality of Switzerland.”

Mr. Hayek stepped down as the Swatch Group’s chief executive in 2002 and was succeeded by his son, Nicolas Jr. His daughter Nayla sits on the company’s board. Information about other survivors could not be confirmed.

Over time, the humble Swatch itself was borne upward by its own success: the company has issued limited-edition Swatches designed by noted artists like Keith Haring. In 1992, The New York Times reported, a Swatch by Kiki Picasso, a pseudonym of the French artist Christian Chapiron, sold at auction at Christie’s in London for $28,000.

In January 2009, one of the bleakest months of the latest recession, a watch collector from the Middle East dropped $3.3 million on Piaget’s new, one-of-a- kind Tourbillon watch studded with 1,200 diamonds and shaped like a Mayan temple.

While such deals are rare, buyers from the Middle East, Asia and Latin America stepped up as the recession and rising gold prices damped demand from the Europe and U.S.

In the United States, sales of watches costing more than $100 fell by a third last year, according to market analysts NPD Group of Port Washington, N.Y. Swiss watch exports fell 22 percent in 2009, the biggest drop since 1932, according to the Federation of the Swiss Watch Industry.

"The decline of bonus culture had a big effect on the watch market," said Catherine Macdonald-Home, editor of Luxury Briefing, a trade publication. "A lot of guys would buy a watch with their first bonus. It was seen as a rite of passage."

The outlook for 2010 is a bit rosier, although the luxury segment is recovering more slowly than the rest of the industry. Swiss watch shipments, the industry’s barometer, rose 14 percent in February, led by sales gains in Morocco of 174 percent, Saudi Arabia of 157 percent, the United Arab Emirates of 68 percent and China of 50 percent.

"We’ve had a difficult year," said Francois-Henry Bennahmias, North American president and chief operating officer of Swiss luxury watchmaker Audemars Piguet. "It will take time to rebuild completely, but the true potential is much bigger than we think."

Complicated, limited-edition watches by top brands such as Rolex, Patek Philippe, Cartier and Richard Mille fared better than fashion brands such as Bulgari.

The Royal Oak Offshore collection's "Pride of Mexico" model
by Audemars Piguet, retails for $46,000 in rose gold, pictured, and $23,500 in titanium.

"Anything over $60,000 is holding up," said Macdonald- Home. "It has to be something that’s a limited edition or of a very high quality."

Piaget saw single-digit growth for the year ended March 31 after anticipating a slight decline for the year, said chief executive Philippe Leopold-Metzger.

"As a brand, in the last two to three years, the expansion in emerging markets has been generating momentum," Leopold-Metzger said in a phone interview.

The company, with watches averaging $25,000, has expanded in China to 14 stores from five two years ago. Of 11 new boutiques planned for the next fiscal year, five will be in China and three in the Middle East, he said.

For Audemars Piguet, whose watches average $35,000, Latin America was the only growth region last year, with 2009 sales up 25 percent. Two 2010 models are called "Pride of Mexico" and "Pride of Argentina."

"The Latin American market is booming," Bennahmias said in an interview at his Manhattan office. "I showed up at a dinner in Caracas for 30 people. Each had more than $150,000 on his wrist."

Luxury watchmakers cut production in 2009 to adjust to lower demand. Piaget made 18,000 watches, 10 percent below its typical output of 20,000, Leopold-Metzger said. Patek Philippe held thousands of watches in stock rather than force retailers that had ordered them to accept delivery. Audemars Piguet manufactured 23,000 watches, down from a projected 29,000.

Even wealthy clients aren’t buying as aggressively as they did during the boom years. While Roberto Chiappelloni, owner of Manfredi Jewels in Greenwich, Conn., sold a $690,000 watch by Greubel Forsey in December 2009, overall sales declined 15 percent from the previous year, he said.

Clients "have become a lot more selective about where they put their money,"
he said. "They negotiate harder than they used to."

To woo buyers, watchmakers are offering unusual designs and mechanical virtuosity.

Ikepod, a tiny Swiss brand that produces retro-futuristic wristwatches by designer Marc Newson, introduced a "Cannonballs" model by artist Jeff Koons. Instead of launching it at a watch fair, Ikepod released it at Art Basel Miami Beach, the biggest contemporary art fair in the United States. The platinum model comes in an edition of 10, priced at $48,614.

The "Cannonballs" watch was designed by Jeff Koons
for Ikepod. The platinum edition of 10 sells for $48,614.

Piaget is heralding its 2010 platinum Altiplano model as "the slimmest" automatic watch ever, at prices ranging from $18,900 to $22,000. Vacheron Constantin launched its own slimmest mechanical watch, for $22,900.

Anticipating a stronger year, Manfredi’s Chiappelloni doubled his orders from 2009, including four Chopard watches marking the Swiss maker’s 150th anniversary. He expects to sell them to a single collector for $480,000, he said.

"I thought they were very special and I got the whole set," Chiappelloni said. "Last year, I would not have dared to. I would not have had the confidence."

-- Bloomberg News

The AMVOX5 World Chronograph opens a new chapter in the partnership between Jaeger-LeCoultre and Aston Martin, and continues to combine horological expertise and automobile performance in a refined manner.

By selecting a city on the turning flange, instant visualisation of the time in any of the world's 24 time zones is possible at any moment. With a nod to the watch's automobile lineage, London is replaced by the town of Gaydon in Warwickshire, where Aston Martin's headquarters and factory are located.
With luminescent white indicators and numerals in the 270° display that has become a classic feature of the AMVOX collection, the partially open dial bears markings inspired by the radiator grille of a sports car. The time elapsed on the chronograph function is read on the central second hand and on the two 30-minute and 12-hour counters. The finishing touch is a movement operating indication that is visible through a dial opening at 6 o'clock, adorned with the famous Aston Martin winged emblem.

A splendid piece of mechanics, the Jaeger-LeCoultre 752 calibre that drives the AMVOX5 is exceptional in its precision and its resilience. In accordance with pure horological tradition, the hronograph, with its column wheel and vertical trigger, features a winding mechanism on lubricant-free ceramic ball bearings, a large variable inertia balance and laser-welded balance spring, all of which ensure its reliability.
This all-terrain calibre is inserted in a case made of high-tech ceramic combined with titanium and 18 carat pink gold. Completely integrated into the Jaeger-LeCoultre Manufacture, its production relies on some of the same innovative techniques and processes which are used in the aeronautical and medical sectors. Made by compacting yttrium oxides mixed with a binder and a small proportion of zirconium oxide under high pressure, the compound is then subjected to a temperature of 2,000°C. After fluoroscopic testing for homogeneity, the ceramic block is then shaped using special diamond-tipped tools. The intensely black case weighs much less than steel, yet is twice as hard, giving the AMVOX5 World Chronograph its infallible resistance.

The AMVOX5 World Chronograph will only be made in a limited series: 300 with a ceramic and titanium case, and 200 with a ceramic and 18 carat pink gold case.

A sure hit with car racing enthusiasts, two Racing models will be made in ceramic and titanium, with a black or white dial, each in a limited series of 100. Inspired by the performance of the meteoric LMP1 Aston Martin Racing prototype, these timepieces feature chronographic counters executed in carbon fibre, punctuated with a flash of orange on the world time disc, the chronographic second hand and the overstitching on the calfskin leather strap.

Technical description

- Calibre Jaeger-LeCoultre 752, self winding, 2,800 vibrations per hour, 65 hours of power reserve, 41 rubies, 279 pieces, 5.6 mm in height, 22 carats weight in pink gold. Ruthenium-plated movement bridges and plate
- Water resistance: 5 atm
- Case: 44 mm in diameter, 15.2 mm high, high-tech ceramic combined with grade 5 titanium or 18 carat pink gold
- Functions: hour, minute, operating indicator, chronograph (central second hand, 30-minute counter, 60-minute counter), world time (instant reading of 24 time zones), date
- Limited series
- Calfskin leather, alcantara-lined pilot style strap

More about the Amvox 5 and its first presentation at the championship race on the Paul Ricard circuit (Le Castellet) click here

 

One of the rarest Patek Philippe models in existence, a one-of-a-kind 18K gold perpetual calendar chronograph wristwatch with moon phases and tonneau-shaped case manufactured in 1943, is expected to fetch up to $2.5 million at Christie’s Important Watches sale in Geneva next month.

The historically important timepiece, ref. 1527, came to light when first offered at auction 20 years ago, and has since been known as Patek’s “large size, one-off perpetual calendar chronograph” among horology connoisseurs.

However, Christie’s notes, the designation doesn’t really do justice to the “highly important masterpiece and historically most interesting forerunner of future generations of complicated Patek Philippe wristwatches.” The watch is one of 90 Pateks being offered in the spectacular sale.

Posted by Shayne Heffernan on Apr 14th, 2010 and filed under Art & Collectibles, Connoisseur's Club, Latest News, Shayne Heffernan, Watches

A stay at The Rocco Forte Collection’s Le Richmond hotel in Geneva now offers its guests a complimentary Watch Butler service with the timepiece connoisseur Pierre Jacques.

The Watch Butler at Le Richmond is the first of its kind in the world and in addition to giving guests access to the expertise of Pierre Jacques, they also have the opportunity to browse a list of primarily Geneva-manufactured watches from which they may view pieces upon request.

Jacques, who is also the head of Les Ambassadeurs watch boutique, will be available for private appointments with guests at the hotel or at his boutique where they will be transported in a limousine.

In regards to watch-making, “Switzerland can claim an impressive array of firsts,” the company said in a statement, adding, “Geneva is nothing if not the best place in the world in which to invest in a luxury timepiece.”

The wristwatch, quartz watch and water-resistant watch are some of the firsts the Swiss watch-making industry can lay claim to.
Le Richmond also offers ‘The Art of Watch-making Package’, which includes Champagne, breakfast, the Watch Butler service, a private visit to a Swiss watch-maker manufacturing site, entrance to the Patek Philippe museum and dinner at Le Jardin.

For more info, visit: Hublot Official Website

Stolen Watch: Jaeger-LeCoultre Reverso Septantieme Watch Number: 489/500

The above two watches were stolen in February 2010 from the private owner.  We would appreciate any information that may help recovering those timepieces.  Please email me.

Thanks in advance for your kind cooperation.

Keywords: Stolen Watch Watches For Sale Watch Watches Wanted Watch Watches FS Watch Watches WTB Watch Watches FSOT Watch Watches Stolen Jaeger-LeCoultre Watch Watches Reverso Septantieme Reverso Geographique

This news is a huge deal for the watch industry. About two years ago the Swatch Group announced that its watch movement making division ETA would stop selling watch movements to watch makers who are outside of the Swatch Group brands in 2010. ETA is the largest and most popular watch movement maker in all of Switzerland - supplying movements to most Swiss watch brands and anyone else who utilizes Swiss movements. ETA makes a wide range of movements from high end mechanical movements to quartz movements.

Swatch Group brands include companies such as Swatch, Hamilton, Tissot, and Omega. These brands receive their movements from sister company ETA, while ETA also currently sells movements to outside brands. According to Chairman Nicolas Hayek of the watch group, that is all about to change. He is reaffirming Swatch Group's position that ETA will cease providing movements to competitors. The wisdom of the decision is arguable, but it looks like it is going to happen.

ETA has been under investigation by Swiss government authorities on whether this move is illegal and anti-monopolistic. Probes have been launched in the past as well to identify whether or not ETA was engaging in unfair pricing and related charges. The current probe is likely interested in whether such practices of shutting out Swiss watch brands that are important to the Swiss economy is a legal move by the Swatch Group.

A real question emerges of where watch brands will now go to get Swiss watch movements, or any movements for that matter. The move could spell death for legions of brands who are reliant on ETA to offer "Swiss Made" watches. In fact, it will likely spell death for many brands. At the same time it is a golden opportunity for competitors to come in and provide watch movements. While the creation of the tiny parts for movements is highly sophisticated, ETA does have Swiss competitors. Companies such as Sellita and Ronda may quickly step in ETA's shoes to fill the gap.

Most of ETA's high volume movements are not covered under intellectual property rights any longer. Such patent rights only have limited times of protection until their covered technologies can be produced by anyone with the skill. As such, ETA movements such at the 2824-2 have been "copied" by brands such as Sellita (with their SW200 movement) for a while. Plus, some brands might turn to the Japanese who have been making quality movements for years. While Japanese movements don't have the same special power to excite consumers that "Swiss Made" movements do, we may see watch companies turning to them out of sheer need.

Sometime in 2010 ETA will cease or begin to stop selling watch movements to outside Swatch Group brands and the market will have to adjust. We will wait until that time to see what the resulting watch industry reaction is.

Ariel Adams publishes the luxury watch review site aBlogtoRead.com.

Under the patronage of the Grande Maison in the Vallée de Joux, the team of three mountaineers –  Swiss guide Stéphane Schaffter, renowned Apa Sherpa and Little Karim Baltis – have successfully scaled virgin summit in Himalaya, christened Antoine LeCoultre’s Peak.

Three exceptional Jaeger Jaeger-LeCoultre timepieces have been part of the adventure: the famous 1958 Geophysic Chronometer; the Master Compressor Extreme Lab which became an instant watch industry sensat sensation when ion introduced in 2007; along with a third creation currently being prepared in the secret of the Manufacture workshops and due to be unveiled in January 2010.

Despite extremely tough weather conditions including a base camp covered with 40 cm of snow and daily avalanche risks, our adventurers have accomplished their mission by reaching this 6,589-metre peak that required an extremely delicate technical approach. In an age where it sometimes seems everything has already been discovered, conquering a virgin summit is an endeavour comparable to the famous expeditions undertaken in the mid-20th century with the aim of climbing the world’s greatest peaks one after the other.

Stéphane Schaffter, a Swiss alpinist who has scaled the fabled Bonatti Pillar, has been accompanied by Apa Sherpa, who has 19 ascensions of Everest under his belt; as well as Little Karim, who has accompanied many great sportsmen in their over 8,000-metre high-altitude expeditions.

All three men, who have displayed an indomitable spirit of adventure throughout their lives and know that limits are there to be surpassed, have naturally chosen Jaeger-LeCoultre watches as the timekeeping instruments in their daring undertaking.

Alongside the Master Compressor Extreme Lab, it is no coincidence that the Geophysic Chronometer was also part of the expedition.

The Geophysic Chronometer first launched in 1958 is one of the most important models in the history of Jaeger-LeCoultre, encapsulating the values of precision, resistance and aesthetic values. It was born within an historical scientific context to which it made a direct contribution.

The International Geophysical Year (IGY) was a large-scale scientific effort organised on the initiative of the United States as a follow-on to the 1882 and 1932 International Polar Years. It was the subject of a five-year preparation programme and lasted from July 1957 to December 31, 1958, timed to coincide with an expected peak of solar activity.

Tens of thousands of scientists working for 67 different countries took part in this 18 monthlong endeavour. They laid the foundations of global knowledge of terrestrial and spatial phenomena. The IGY was also the starting point for international cooperation in the Antarctic. Research covered a number of disciplines including geomagnetism, seismology, continental drift, solar activity, cosmic rays, longitude and latitude determinations, glaciology, hydrology, oceanography, meteorology, as well as gravity.

The technical characteristics of the Geophysic Chronometer by Jaeger-LeCoultre matched the needs of researchers, whether on polar base stations, in laboratories or during underwater expeditions. Behind this horological project was a determination to create a watch able to “withstand all trials”. The hostility of the polar climate called for people and instruments resistant to extreme conditions.

The Geophysic Chronometer was in particular equipped with a case resistant to magnetic fields, which also represented one of the main areas of scientific study during this period.

The precision, the resistance, and the reliability of the Geophysic Chronometer made it an emblem of excellence – to the extent that when a group of Genevan citizens, with the support of the municipal authorities, decided to honour the feat accomplished by the American atomic submarine Nautilus, which had just reached the North Pole, they chose the Geophysic Chronometer as a symbolic gift.

On December 16, 1958, two Jaeger-LeCoultre Geophysic Chronometers were officially presented to W.R. Anderson and J.F. Calvert, commanders of the Nautilus and the Skate, through the intermediary of F.B. Warder, commander of the submarine flotilla of the U.S. Navy Atlantic fleet. Their thanks were duly addressed to the Mayor of Geneva.

In 2009, for the conquest of a new peak, the three different above-mentioned Jaeger-LeCoultre timepieces, all “super sherpas” in their own right, have thus accompanied the three mountaineers throughout their ascension, constantly reminding them of the pioneering role played by the Manufacture in the Vallée de Joux in constantly pushing back the limits of precision while keeping pace with daring technical accomplishments.

Manufacture Jaeger-LeCoultre
Born of an invention, the Grande Maison has always been driven by the spirit of discovery; the need to create new, ever more accurate and more complex technical marvels. Year after year, knowledge and skills have been enriched, renewed and multiplied to serve the unique purpose of mastering the countless operations involved in manufacturing watch movements and cases – the fundamental prerequisite for rising to the most daunting technical challenges.

A major player in watchmaking history, Jaeger-LeCoultre has now celebrated its 175th anniversary. The Manufacture has an impressive range of world firsts, superlative creations and legendary models to its credit, including the Reverso, the Duoplan, the Master Control, the Memovox Polaris, the Gyrotourbillon I and the Atmos. In 2009, around 1000 people proficient in over 40 watchmaking professions and more than 20 cutting-edge technologies continue to pay tribute to the pioneering ardour of the company founders by creating new masterpieces proudly perpetuating the grand horological tradition. In 2010, as a further extension to the capacious premises now surrounding Antoine LeCoultre’s original atelier, Jaeger-LeCoultre will be inaugurating a new building providing 9,000 square meters of additional workshop space.

Photo: Tribune de Genève

©KEYSTONE
ATS | 22.10.2009 | 10:22

Le recul enregistré en septembre a atteint 26,1%, a indiqué jeudi la Fédération horlogère suisse (FH), dans son relevé mensuel. La baisse représente -25,9% sur les neuf premiers mois de l'année. Selon la FH, le résultat des exportations en est revenu au niveau qui était le sien en 2006.

Le résultat du mois de septembre ne laisse pas entrevoir de signes de sortie de crise. Il ne confirme pas l'apparence d'embellie enregistrée au mois d'août dans le rythme de contraction des exportations (-22%). Ce léger mieux intervenait après un recul de 25,9% en juillet et un plongeon de -32% en juin.

En extrapolant les chiffres sur neuf mois, les exportations horlogères pourraient se situer aux alentours de 12-13 milliards de francs sur l'entier de l'année. Bien loin du niveau record encore affiché en 2008, avec une valeur de 17 milliards, en dépit d'un dernier trimestre déjà affecté par la crise économique.

Segment du luxe malmené
Les montres en métaux précieux ont enregistré le plus fort recul de valeur en septembre. L'écoulement des montres en or a diminué de 34,9% en valeur à 308,7 millions de francs. En baisse de 28,5%, les ventes de montres en platine se sont élevées à 37,5 millions de francs.

Le recul pour les montres en acier (-27,1% à 434 millions de francs) a été supérieur à la moyenne de septembre, dans une moindre mesure cependant que pour les montres en métaux précieux. En recul de 11% à 73,4 millions de francs, les ventes de garde-temps en "autres métaux" ont mieux résisté.

Marché américain sinistré
Les exportations ont fortement régressé sur le marché traditionnel de Hong Kong (-29,9% à 185 millions de francs), et davantage encore sur le marché américain (-43,4% à 122 millions). Le marché européen s'est mieux comporté avec des reculs de près de 16% en France et en Italie, et de 12,8% en Allemagne.

Pour le deuxième mois consécutif, la Chine est apparue en septembre dans le rang des six principaux pays acheteurs de montres suisses. Par rapport à septembre 2008, les exportations vers ce pays sont restées stables compte tenu d'un faible recul de 1,1% à 74,8 millions de francs.

La valeur des exportations a diminué en septembre de 26% pour les montres de luxe d'un prix supérieur à 3000 francs. Le bilan est encore plus mauvais pour les ventes de produits de bas de gamme d'un coût inférieur à 200 francs, qui ont chuté de moitié. Ce plongeon correspond à un déficit d'exportation de 890'000 pièces.

Angelo Bonati © Kristian Haagen/Worldtempus.com
VIEW THE PHOTO-GALLERY OF THE JUPITERIUM

The impressive exhibition that contained several old telescopes, including  two surviving telescopes made by Galileo, astrological drawings and vintage Panerai watches,  celebrated the historical introduction in 1609 of Galileo’s landmark invention  – the instrument that changed the perception of the world.

Initially this exhibition was created by the Istituto e Museo delle Scienza in Florence –  also the home town of Officine Panerai. The exhibition marks the 400th anniversary of Galileo´s first celestial discoveries and is a unique occasion to experience one of the treasures of all time.

The Jupiterium © Kristian Haagen/Worldtempus.com
VIEW THE PHOTO-GALLERY OF THE JUPITERIUM

Not only is Officine Panerai sponsoring this unique event, but the watch company is also making its own unique contribution with a rather striking and extraordinary mechanical instrument, the Jupiterium. This is a watch that no Panerist expected to see. This is no tribute to Italian navy divers during Second World War. This is no Luminor, Radiomir nor the long awaited Mare Nostrum reintroduction. This is a mechanical instrument with a watch that shows time and has a manual-wound movement with a 40-day power reserve. The instrument also features a unique perpetual calendar that determines the exact date, day, month and year without any need for manual regulation, even in leap years.

Issued in a strictly limited edition of just three, the Jupiterium comprises a square wooden base that supports a glass sphere holding the Earth and planets on titanium arms. The constellation of the zodiac is picked out in superluminova on the surface of the sphere, shown as they can be seen both of Earth´s hemispheres.

 The Jupiterium © Kristian Haagen/Worldtempus.com
VIEW THE PHOTO-GALLERY OF THE JUPITERIUM

During an interview with Angelo Bonati, Panerai's CEO, he told Worldtempus about a new model that will be released at the SIHH in January. It appears that Panerai will produce a limited (probably 30-piece) series of a particular model offering the Equation of Time function, yet tailor made to the owner’s particular geographical location. This is indeed interesting yet surprising news, from the popular Florentine watch brand. And definitely something to look forward to, come January 2009.

New York--Rodolphe Cattin, founder of the Rodolphe Montres and Bijoux watch company and the Rodolphe and Co. design studio--two entities owned by the Franck Muller group--has announced he will be quitting all operational activities within the group come the end of October.

Cattin, however, will remain a minority shareholder in both Rodolphe Montres and Bijoux and Rodolphe and Co.

A press release issued by Cattin pointed to what he described as a "series of disappointments" endured over the last half of the four-year time period since the Franck Muller group acquired a majority share of Cattin's companies.

"It is with a mixture of sadness and relief that I am leaving the group with which we became associated four years ago, because I no longer sense that the group has any wish to develop the brand bearing my name," Cattin said in a media release. "The same is indeed true of all the other 'small' brands within the Franck Muller group."

Franck Muller did not respond to requests for comment.

Rodolphe Cattin is parting ways with the
Franck Muller group but will remain a minority
shareholder in the companies that carry his name.

Jaeger-LeCoultre
launches the first watchmaking school on iPhone in cooperation with Phonevalley.

They say you can't recapture lost time, but don't try telling that to Rachel Hasson.

MINUTE DETAILS. The assortment includes automaton clocks, adorned musical snuff boxes and a selection of scientific instruments. Photo: Courtesy

The artistic director of the L.A. Mayer Museum for Islamic Art in Jerusalem is still rubbing her eyes over the return and restoration of over 100 rare and priceless clocks that were stolen from the museum more than two decades ago.

The opening on Tuesday of The Mystery of Lost Time marks the culmination of a 25-year saga that would be more befitting of a nail-biting Agatha Christie mystery than a staid Talbiyeh museum.

"It's a miracle. I never thought I would see the missing pieces again," Hasson said last week, as she prepared for the opening of the exhibition which she curated. "It hardly ever happens that after 25 years, a stolen collection is found and is returned to its home."

But thanks to a prolonged investigation that included the Israel Police, the Mossad, Interpol, private detectives and a good bit of old-fashioned luck, the clock collection is back where it belongs - in an ultra-theft proof walk-in safe.

The more than 200 clocks were part of the one of the world's most impressive collections - owned by Sir David Lionel Salomons, who in 1855 became the first Jewish mayor of London. They were donated to the museum in 1974 by his daughter, Vera Bryce Salomons. She also provided an endowment the same year to found the museum, named after Leo Arie Mayer, a professor of Islamic art and architecture and rector at Hebrew University who had taught Bryce Salomons, and, by chance, also collected rare clocks.

"When I started working here, more than 40 years ago, fresh out of college, they told me that a new collection had arrived and I should be in charge of opening and cataloguing it," recalled Hasson.

"When I opened up the boxes and saw all those amazing clocks, I couldn't believe it - I felt like Alice in Wonderland. Every clock, every item was precious, I still remember the feeling."

The collection's most significant and special timepieces were a ground-breaking group of 55 clocks by 18th-century French clockmaker Abraham Louis Breguet. The inventor of some of the greatest technological innovations in modern watch-making, Breguet was among the most influential individuals in modern horology. Among his creations was a timepiece known as the 'Marie Antoinette.' Commissioned, according to legend, for the French queen by a lover, the clock was considered the crown jewel of Breguet's career and the highlight of the Salamons exhibit.

Other integral parts of the collection were a group of automaton clocks as well as gold musical snuff boxes adorned with enamel pictures, pearls and diamonds, the works of 19th-century craftsmen, particularly in Switzerland. The collection also features a selection of scientific instruments, such as barometric compasses, sundials and telescopes from the 17th to the 19th centuries, as well as a group of clocks manufactured in the 19th century in Europe for the Turkish market.

According to Hasson, Bryce Salomons was adamant that the collection - which any museum in the world would have been ecstatic at displaying - be stationed permanently in Jerusalem.

"She was a Zionist and wanted to expose Israelis to Islamic culture - and even though the clock collection had nothing to do with Islam, she knew it would bring people to the museum," she said.

That, it did, as the clock exhibition became the beacon attracting people to the museum in the late 1970s and early 1980s.

"It became such a staple of the museum that some people referred to us as the 'Clock Museum,'" recalled Hasson. "Despite us having seven other galleries of some quite amazing Islamic exhibits, the highlight was always the clocks. Diplomats, collectors and tourists would come to Israel especially to see it."

THEN IT all fell apart on April 15, 1983. At that time, it was called the biggest robbery in Israel's history. Overnight, between the museum's closing on Friday night and Shabbat morning, thieves pried open the bars on a small window, climbed into the building and drove away with over 100 items from the clock collection, including the Marie Antoinette; another priceless Breguet table clock from 1819 known as the 'Sympathique,' which ran on a system in which a watch placed in a recess of the clock was automatically set and reset; and an 11 cm.-long, gold "pistol clock" created at the beginning of the 19th century in France.

"I remember getting the phone call on Shabbat morning telling me that half of the clock collection had been stolen and I should come right away. As happy as I had been when the clocks arrived, I was in shock and mourning when they were stolen," recalled Hasson.

"When I walked inside and saw the empty spaces - that Marie Antoinette was missing, the gun and so many others - all the wonderful things that were there had simply vanished between Friday night and Shabbat."

Despite the prolonged multi-pronged investigation, for two decades authorities were unable to locate a trace of the missing clocks, and monetary rewards posted by the museum and its insurers went unclaimed - until August 2006.

A Tel Aviv attorney contacted the museum saying that she represented a woman from the US claiming to possess 40 of the stolen items, including the Marie Antoinette. The woman said she discovered the existence of the clocks upon the 2004 death of her husband, who had concealed them from her.

The husband in question was Na'aman Lidor, who in the 1960s had acquired the nickname in Israel of the "genius thief" for his successful burglaries both here and in Europe of various establishments, including banks, interior ministries and the gallery of artist Reuven Rubin.

According to Hasson, Lidor was suffering from cancer and afraid to die alone, so he married the woman a short time before his death and left everything to her in his will. Through questioning Lidor's mother, who still lives in the country on a kibbutz, the police located a safe in his name in Holland, and with the cooperation of the Dutch police, discovered another seven clocks there, along with a box of jewelry and forged passports. Additional stolen clocks and items were discovered in the widow's home in Los Angeles and in bank safes in France.

They found some in the wife's shoe closet and there were even some in an orange warehouse," said Hasson.

According to Hasson, Lidor managed to sell only eight or nine items in the collection because they were too well known in the art collection world.

"He tried to change the appearance of some things so they wouldn't be identified, and he dismantled a lot of the clocks to try and sell them part by part, but it didn't work," she said.

Refuting claims that the museum paid the widow a sum of money for returning the clocks, museum officials insisted no financial transaction was made and no criminal proceedings were initiated against the widow.

Little by little, the collection returned to Jerusalem, where the painstaking task of restoring the clocks to their initial state was undertaken - and was only recently completed.

The exhibition includes detailed information about the clocks, as well as a recorded tour guide in Hebrew and English.

For Hasson, the opening of The Mystery of Lost Time represents the closing of a big circle that takes her back in time to those days over 40 years ago when she first laid eyes on the Salamons clock collection.

"When I saw the restored Marie Antoinette clock, I burst into tears," said Hasson. "For me, it was a very exciting moment - to see almost the entire collection returned to its previous state. All the years we felt so bad and guilty that a rare collection like that disappeared from under our noses."

"It may have been the perfect crime, but in the end, it wasn't perfect - he wasn't able to complete the final stage of selling the stolen property."

The L.A. Mayer Museum for Islamic Art will be open from 10 a.m. to 8 p.m., Sunday-Thursday, and Friday-Saturday from 10 a.m. to 4 p.m. during the The Mystery of Lost Time exhibition. Call (02) 566-1291 for details.

Police in the Swiss canton of Zurich said Thursday that they have uncovered thousands of counterfeit rubbish bags carrying the region?s waste disposal tax and recycling label, smuggled in from Serbia.

Each 35 litre so-called ?Zueri-sack? is sold at about two francs (1.3 euros, 1.8 dollars) as it includes a tax levied by the cantonal waste disposal and recycling authorities.

Waste disposal services in the canton only collect the pre-taxed bags.

?A 37-year-old man has over several months smuggled thousands of fake rubbish bags from Serbia to Switzerland where they are sold,? said Zurich police in a statement, noting that the value of the offence reached 26,000 francs.

Cartons of trashbags were first discovered during border control checks on a tour bus coming from Serbia.

A Serbian man was found to have the fake bags at his grocery store in Zurich.

Police said experts found the fakes were ?relatively good? but that the bag tears more easily compared to the Swiss originals.

The main difference between the two was the colour, said police, noting that the counterfeits carried a darker blue than the original ?Zueri-blue.?

Police appealed for people who may have the fakes to return them to the authorities, who will ?replace them for free so that the rubbish can be correctly disposed of.?