Bucherer's Competitor Buys Prominent Watch Media

(Photo credit: Watches of Switzerland)

If high-end watch boutiques favor locations like Bond Street, Rodeo Drive, Bahnhofstrasse and les Champs Elysées for its foot traffic and prestige, online retailers have to go about it a different way: attract traffic through (high-quality) watch content.

Watches of Switzerland, UK’s biggest Rolex retailer, just acquired the 5th Avenue version of online real estate when it announced this week it had bought watch publication Hodinkee, following a strategy employed by other e-commerce of poaching prominent watch writers. “The acquisition of Hodinkee directly supports our e-commerce business by increasing traffic,” CEO of Watches of Switzerland Brian Duffy said in a statement.

Watches of Switzerland's biggest competitor, Bucherer, which is now run by Rolex, also sells watches online, including certified pre-owned Rolex since Dec. 2022. Bucherer could do worse than follow suit to attract more clients to its website. Doing otherwise in a nine-consecutive-quarter market decline is a luxury it may not have.

Rolex Archives: Wilsdorf Considered 'Nautilus' for the Submariner Name

Hans Wilsdorf. (Photo credit: Keystone/IBA-Archiv)

According to Rolex archives unearthed by author Nicholas Foulkes for a recently published book about the Submariner, Rolex founder Hans Wilsdorf — who was already in his 70s when the Submariner was being tested both by the Royal Navy and an avid diver-photographer named Dimitri Rebikoff — suggested several names for the watch, and none of them were “Submariner.”

Excerpts from a letter written by Wilsdorf on Jan. 12, 1953, and addressed to Rolex director René-Paul Jeanneret are published in the first Rolex authorized book, titled “Oyster Perpetual Submariner: The Watch that Unlocked the Deep.”

“Your letter Re Mr Rebikoff is very interesting, and it seems to open fresh possibilities for Rolex becoming well known for our waterproof watches,” Wilsdorf wrote. “I like the name Deep Sea Special better than Frogman. I am sure Nautilus is already registered.”

Wilsdorf was right. Nautilus had been registered two years earlier by a small watchmaking company named Juvenia. It's unclear how Jaeger-LeCoultre then acquired the name in the 1950s and whether Rolex could have done the same. Patek Philippe acquired “Nautilus” decades later when JLC likely let it lapse.

It was in a Rolex technical meeting on May 28th, 1953, that Jean Huguenin decided “this piece will carry the name: ‘SUBMARINER,’” according to the book.

Borg Reveals Why He Wanted to Be a Rolex Brand Ambassador

Newcombe (L); Borg (R). (Photo credit: R. Hartmann)

In an interview published Monday in German magazine Der Spiegel, Björn Borg revealed why he wanted to become a Rolex Testimonee — and that he kept McEnroe from becoming part of the Rolex family.

Borg has been wearing Rolex watches long before he became a brand ambassador. “You need hobbies in life,” Borg said in the interview. “It can be fishing, collecting stamps. I like watches.” The tennis team captain was spotted wearing a green-dial Day-Date, reference 118138, during the Laver Cup less than two weeks ago.

It was on the wrist of John Newcombe in the 1970s that Borg saw a Day-Date for the first time, he said. In the Rolex ad, the Australian tennis player — feared for his offensive game and likely his mustache, too — was firmly holding the racket in one hand, eyes on the ball, his polo shirt unbuttoned. Above the picture, the Rolex tagline: “John Newcombe's tournament play, like his Rolex, is unmistakable.”

Borg admitted he was jealous of Newcombe. He thought one day he will have a contract with Rolex, too. His dream came true almost forty years later, in 2013, when Rolex finally signed the Swedish tennis legend. He was 57. Today, it is his eternal rival and friend John McEnroe’s turn to be jealous. “He asked me if he could become part of the Rolex family,” Borg said. “I said no.”

'Moonwatch Only' Authors Release New Daytona Book

(Photo credit: Montres de Luxe)

A book about the Rolex Daytona is being released this month by the acclaimed authors of Moonwatch Only, which received high praises from Omega collectors 10 years ago.

The book comes on the heels of Rolex's first authorized book about the Submariner written by Nicholas Foulkes.

The Daytona book released this month — on Amazon in the U.S. in November — is available in French and English and contains over 350 illustrations. The book is entirely devoted to automatic models Daytona, from 1988 to the present day. The first volume dedicated to manual-winding Daytonas was released a year ago. They can now be ordered as a set on the authors’ website.

Authors Anthony Marquié and Grégoire Rossier said the methodology used was based on “the rigorous databases” they've built up over the years as they did with previous works.

From “Rolex Cosmograph Daytona Vol. 1”

Revealed: Rolex's Secret Navy Partnership in Submariner History

Rolex Explorer 6150 linked to the Royal Navy; the HMS Reclaim diving team that would test it. (Rolex Archives)

On March 11, 1952, a representative from Rolex U.K. drove to a remote location in Scotland and hand-delivered “three steel Rolex Oyster Perpetual watches” to a Royal Navy crew conducting deepwater training in a nearby loch, according to archives unearthed by author Nicholas Foulkes for a new book about the Submariner titled “Oyster Perpetual Submariner: The Watch that Unlocked the Deep.”

This rare military partnership with the Royal Navy was unknown until now in the history of the development of Rolex's most famous dive watch. The correspondence between the navy and Rolex executives was kept buried in Rolex’s archives in Geneva. As the divers took the watch to considerable depths, it provided the brand with a great opportunity to gather data from real-world tests and improve the watch.

(Credit: Rolex Archives)

Still, in 1952, the Rolex watches on the wrists of the elite Royal Navy divers were not called Submariner but were known as Explorer models, reference 6150. That the Submariner was born from the Explorer is another revelation from the archives about the origin of Rolex’s dive watch.

The Explorer model 6150 would be improved upon thanks to the Admiralty with a larger dial and a rotating bezel, according to the book, even becoming at some point “the official Royal Naval divers’ watch,” waterproof down to 400 feet.

Don't Bother Bidding on This Watch. Rolex Will Likely Buy It

The first Rolex watch to land on the surface of the moon is available for sale, and Coronet believes it is too historically important for Rolex to ignore it.

The news broke yesterday that Lunar Module Pilot Edgar Mitchell's flown Rolex GMT-Master 1675 worn on the Apollo 14 mission is being auctioned off. The caseback is engraved, “Worn by Cdr. E. Mitchell on Apollo 14, 1971, To Karlin My Daughter.” The watch looks unpolished.

The auction for Mitchell’s watch, which opened on Sept. 26, 2024, comes with a certificate of authenticity signed by the astronaut himself. Nick Gould was first to publish the news.

The first Rolex moon watch is also the first watch on the moon to be self-winding. It is likely Rolex will participate and win the auction. The last and only time a Rolex moon watch was put up for auction was in 2009, when Apollo 17 Command Module Pilot Ron Evans' Rolex GMT was sold for $131,450. The watch was bought by Rolex.

For the First Time, Rolex Hints at Production Numbers in New Book

Oyster Perpetual Submariner: The Watch that Unlocked the Deep (Foulkes, 2024)

Rolex, unlike many other watch manufacturers in the luxury segment, does not publish any figures on production.

But in the first Rolex-authorized book about the history of the Submariner watch, the author is including the exact production number of each Rolex Submariner, Sea-Dweller and Deepsea variant. The book will be made available for international purchase starting on Oct. 1st at ACC Art Books and at major retailers in the U.S. on Oct. 28.

With 646,613 examples, the 16610 takes the crown as the most produced Submariner followed not by the no-date variant, but by the 116610LN, at 414,905. The least produced Submariner was the 116649EMBR, an 18-ct white-gold version with an emerald and diamond-set bezel, at 51 examples.

The 116610LV “Hulk” was produced almost twice as much as the 16610LV “Kermit,” 228,710 and 128,835, respectively.

Another interesting data is how much more popular the Submariner with a date complication is, likely a reason lovers of the brand have renamed the Submariner Date simply “Submariner.”

When comparing steel versions only, the date reference 16610 was produced almost three times more than its no-date counterpart, the 14060 (combined with 14060M production numbers). About the same production ratio is found when comparing the 114060 to the 116610LN, 153,437 and 414,905, respectively.

Rolex said this book “is the first in a series of titles exploring the brand’s unique watches.” Subsequent titles could tell us more about production data, including for the Daytona and the GMT-Master.

Federer Gifts Tennis Pals Borg, McEnroe GMTs

(Photo credit: GQ Sports)

Roger Federer gifted John McEnroe and Björn Borg Rolex GMT-Master II watches in their final Laver Cup as captains.

Since the first edition in 2017, Borg and McEnroe have led Team Europe and Team World, respectively, rekindling their intense rivalry from their tennis careers, when they faced each other 14 times between 1978 and 1981.

Federer, the driving force behind the Laver Cup, picked a Rolex model matching the team color, McEnroe scoring a Pepsi while Borg receiving a Batman, each engraved with the message “Laver Cup, Team (Europe/World) Captain, 2017 - 2024.”

In 2025, Andre Agassi will lead Team World, while Frenchman Yannick Noah will lead Team Europe.

Strong Franc Challenges Swiss Watch Industry

Cost of Swiss franc in US dollar. (Data: Yahoo Finance)

The Swiss watch industry is facing new headwinds as the Swiss franc trades at record levels.

Rolex CEO Jean-Frédéric Dufour had predicted a “challenging year” for the industry, “a phase in which all manufacturers were doing well is coming to an end,” he said in April at the opening of Watches and Wonders.

The most recent figures published by the Federation of the Swiss Watch Industry underscored the severity of a China-led slowdown that’s rippling across the industry. Exports to the country, the second-biggest market behind the U.S., slumped almost 6% YoY while shipments to Hong Kong slid 11%, as a downturn in real estate values weighed on sentiment.

Now, with the Swiss franc trading close to $1.20, the watch industry and La Convention patronale — a trade union representing watchmakers, including at Rolex — warned this week of a significant drop in demand that’s hurting Swiss watch brands and putting jobs at risk. They called on the Swiss National Bank to take steps to weaken the strong franc, which has pressured the industry.

While no layoffs have been reported at Rolex, other major brands are using the government supported “short-time” work program to furlough employees, including at Girard-Perregaux and Ulysse Nardin, for example, which have put about 15% of workers on furlough, the company’s chief executive officer told Bloomberg News last month.

Rolex’s New Patent: Blockchain-Based Authentication

In a patent released last month by Rolex, the brand said it wants to improve on how Omega and other watch brands use NFC chips in warranty cards to access information about the watch.

Rolex said it doesn't want owners to download third party apps or create user accounts which could be susceptible to security breaches.

Rolex wants to use blockchain technology to store information that can be displayed on a website once a watch certificate card is scanned. It’s unclear if the final product will reveal personal information about ownership. But it could be a way for current owners to communicate with Rolex Service Center for warranty work, according to the patent.

More importantly, future Rolex watches could have unique identifiers for the case, movement and bracelet each. The “string of alphanumeric characters comprising of eight random digits” for each part of the watch could be stored via blockchain technology and engraved in a way that can be scanned, the patent said.

Rolex to Release First Official Book on Submariner

Rolex is preparing to release its first official book on the history of the Submariner. The 252-page book available Sept. 16 in French and English will be the first in a series about its legendary watches, the brand said.

Written by London-based historian Nicholas Foulkes, Oyster Perpetual Submariner: The Watch that Unlocked the Deep takes a look at the Submariner from its inception through the present day — and how as an archetype of the divers’ watch, it unlocked the deep as it accompanied the development of underwater exploration.

“The new and original photography, alongside historic photos from Rolex, illustrates accounts from renowned witnesses to the timepiece’s illustrious 71-year history,” Rolex said.

To learn more about the Submariner book, please read Coronet's multiple-article coverage.

Rolex Foundation Could Save Swiss Newspaper Amid Layoffs

(Photo credit: Tamedia)

The Tribune de Genève, Geneva’s largest daily newsprint, could soon be financed by the Hans Wilsdorf Foundation.

The news industry was hit hard last week when Tamedia, a Swiss media group and owner of the Tribune de Genève among several titles, announced it would close two printing plants and lay off 290 people as it plans to focus on four other titles in its portfolio.

The layoffs are likely to be the death knell for the Tribune de Genève, founded in 1879. But some in Geneva say the Hans Wilsdorf Foundation could be stepping in, as it did with two other Geneva publications, as previously reported by Coronet.

The foundation, financed completely through Rolex sales, has a media component named Aventinus whose purpose is to “support ... mainly in Geneva ... the existence of an autonomous, diversified and quality press ... for the proper circulation of information and the functioning of democracy,” according to Aventinus’ website.

A luxury company financing a news publication is not unique as the luxury industry tends to be highly protective of its image. LVMH in 2007 bought Les Echos, France's largest business newspaper.

Exclusive Rolex Daytona Seen in the Wild for the First Time

(Photo credit: @RogerFederer/Instagram)

The Rolex Daytona 100th Anniversary of Le Mans in yellow gold made its public debut on the wrist of brand ambassador extraordinaire Roger Federer Tuesday, when the retired tennis legend attended the quarter finals of the US Open in New York.

This watch, first released in 2023 in white gold then re-launched in yellow gold 10 months later, is extremely rare, not only for its availability but design. Unlike the white-gold Le Mans, the yellow-gold version is off-catalog and not advertised by the Crown.

Rolex tends to eschew anniversaries and even more vintage aesthetics. In the Daytona Le Mans, however, the sub-registers have the square pointers made famous by the exotic dial of the “Paul Newman” Daytona.

Federer rocked the GMT-Master II Batman at Roland Garros and the Wimbledon-dial Datejust at, well, Wimbledon. The yellow-gold Le Mans ref. 126528LN has been a ghost, except briefly on the wrist of Rolex CEO Jean-Frédéric Dufour during a RTS news segment at this year’s Watches and Wonders.

Rolex Exited F1 Amid Contract Dispute Over Term Length

(Photo credit: Rolex)

After 11 years as a Global Partner and the Official Timepiece of Formula One, Rolex will give way to LVMH at the beginning of next season, in 2025. The news first broke on Coronet in early July.

At the time, Rolex did not say why it was walking away from a sport whose audience had doubled in the past decade, reaching 1.5 billion viewers in 2023, the fourth most watched sport worldwide.

But Coronet is now reporting Rolex did not want to renew the contract because of a dispute over the contract’s duration. While F1 wanted Rolex to sign for ten years, Rolex did not want to commit beyond five years, according to sources.

F1’s carbon footprint has continued to garner attention, a reason Rolex could have requested shorter terms. Each year, 10 teams and thousands of workers travel around the world to compete in 24 races in the name of entertainment, a carbon footprint estimated at 223,031 tCO2e per season, 49% of that coming from travel logistics alone, according to F1’s most recent report.

Watches & Wonders 2025: Smaller Brands to Move Behind Rolex

The Watches and Wonders Geneva Foundation has just sent a new contract to its exhibitors, according to sources in Geneva, including a new four-installment payment plan due before the fair in April 2025.

Among the other changes in the contract is the new location for exhibitors at the Carré des Horlogers and La Place. This is affecting some 28 smaller, independent brands, which will be relegated behind the Rolex booth.

Until now, the Carré des Horlogers and La Place were centrally located at the fair, essentially splitting Watches and Wonders in two: The incumbent of the fair formerly known as SIHH, the Richemont group on one side; on the other, Rolex and Patek Philippe.

The loss of visibility and access is not insignificant and seems like a downgrade for those smaller brands. But Rolex said it won’t be blocking the visibility to the area. It’s unclear what brand will take the spot at the Carré des Horlogers and La Place though some in Geneva are speculating it could be Bulgari.

When a Rolex Brand Ambassador Gets Robbed of His Watch

(Photo credit: Rolex)

Sir Ben Ainslie, the British Olympic yachtsman and a Rolex brand ambassador, has been robbed of his watch at knifepoint in Barcelona.

The yachtsman, who is in the city to lead the U.K.’s Ineos Britannia team in the America’s Cup, reported the theft to local police in Barcelona on Monday. The Telegraph was first to report the news.

Coincidently, Rolex released on Monday a new video featuring Ainslie. But the video is about the 34th edition of the Maxi Yacht Rolex Cup, not the America's Cup.

“Like in all big cities, you can be affected by opportunistic crime and my situation is no different,” Ainslie told The Telegraph.

Ainslie was cornered by a gang and robbed of the Rolex watch reportedly worth €20,000 ($22,250) on Saturday, Spanish police said. In light of the mugging, the police said they will bolster security at the America’s Cup, which began on Aug 22.

The police did not reveal the exact Rolex model. On its website, Rolex says Ainslie wears a Yacht-Master 42 in 18 kt white gold.

Bitcoin Stabilizes at Record Level. Rolex Is Still Dropping

Bitcoin prices. (Data: Yahoo Finance)

The last time the cryptocurrency rallied, in 2021, it presaged a bubble in Rolex preowned prices, as many “crypto bros” diversified their portfolios by buying and flipping Rolex watches.

While Bitcoin in the past six months has reached and stabilized at levels higher than its 2022 record, the drop in the preowned watch market has not reversed.

“We have now experienced a nine-consecutive-quarter decline,” said Hamza Masood of WatchCharts.com on the Openwork podcast of Aug. 19. WatchCharts.com tracks watch value on the preowned market, including the top 30 models within Rolex. “We have not hit an inflexion point where we can confidently say prices are no longer falling. We are not near that bottom yet,” Masood said.

That Rolex preowned prices haven't reversed trends despite Bitcoin’s recovery is good news for enthusiasts of the brand; they no longer have to compete with speculators to get their hands on Rolex watches. “Bitcoin bros,” once bitten twice shy, seem to have slipped away from the Rolex market.

Still, Rolex enthusiasts are keeping a close eye on which models retain their value and are reluctant to splash out on a watch that is dropping in price secondhand, further depressing demand.