The Role of Master Watchmakers in Today’s Horology
The Role of Master Watchmakers in Today’s Horology
Dear Friends,
In the world of high-end horology, there are the great houses such as Patek Philippe, Vacheron Constantin, Audemars Piguet, and Rolex. Alongside them exists another fascinating universe of the independent master watchmakers. They are not always known by the wider public, yet among serious collectors, they are some of the most coveted names in watchmaking.
After doing some research and observing the industry for many years, I would say that the modern era of independent watchmaking can roughly be divided into four generations.
The first generation emerged in the late 1960s and 1970s with three legendary figures: George Daniels, Gérald Genta, and Philippe Dufour.
The second generation appeared in the late 1990s and early 2000s with watchmakers such as Kari Voutilainen, François-Paul Journe, De Bethune, Roger Smith, and Stepan Sarpaneva. This wave of independent watchmakers began redefining modern horology. They proved that a small workshop could rival the finishing, creativity, and technical excellence of the largest Swiss maisons.
The third generation, which I would place around the 2010s, includes names such as Laurent Ferrier, Rexhep Rexhepi (Akrivia), and Raul Pagès.
The newest generation has emerged between 2015 and today, with talented watchmakers such as Vincent Deprez, Theo Auffret, Sylvian Berneron, Petermann Bédat, and Simon Brette.
Some of these watchmakers have sadly passed away, but many of them today are between 30 and 60 years old. Over the years, I have followed their work and witnessed their rise as they create extraordinary watches with remarkable movements and distinctive aesthetics.
What makes them so exclusive is not only the excellence and creativity of their work but also the very small number of watches they produce. For example, F.P. Journe manufactures roughly 1,000 watches per year, while someone like Theo Auffret produces only around 12 to 15 watches annually.
Another element contributing to their success is the strong performance of their watches at auction. Looking at recent results from Sotheby’s and Phillips speaks for itself. Because F.P. Journe produces more watches than many independents, they appear more frequently at auction, and their hammer prices have recently exceeded estimates.
Some examples include:
Sotheby’s – F.P. Journe Octa LE Platinum Estimate: $100,000 to $200,000. Hammer: $406,000
Sotheby’s – F.P. Journe Octa Jour et Nuit Estimate: $100,000 to $200,000. Hammer: $335,000
Sotheby’s – F.P. Journe Tourbillon Souverain Estimate: $200,000 to $300,000. Hammer: $1,143,000
Phillips – F.P. Journe Réserve de Marche Souscription No.17 Estimate: $120,000 to $240,000. Hammer: $774,000
Phillips – Kari Voutilainen Observatoire Estimate: $100,000 to $200,000. Hammer: $533,000
Bonhams UK – Voutilainen 28SC Estimate: $67,000 to $95,000. Hammer: $383,000
Over the past few years, I have had the opportunity to interact directly or indirectly with several of these remarkable watchmakers and their companies, which has given me a deeper understanding of their world.
My first experience was with François-Paul Journe’s company a few years ago while thinking about how to celebrate an upcoming milestone birthday. As a watch enthusiast, acquiring a special timepiece seemed like the perfect gift. I made contact through an appointment with William Newman, the store manager at the New York boutique.
He is a very warm person, and we had a wonderful conversation about watches, why F.P. Journe, which model I might order, and how the company approaches new clients. As many collectors know, one generally begins with a selection of simpler pieces before being considered for more complicated watches.
William shared the story of the company, its beginnings, the number of boutiques worldwide (13), and its annual production (1,000 pieces per year).
This conversation helped me understand something important. F.P. Journe wants to ensure that clients buy their watches out of genuine passion, not simply to flip them for profit. They have developed an interesting strategy. They encourage clients to return once a year for a conversation and invite them to their monthly “First Tuesday” cocktail gatherings, where collectors meet other F.P. Journe enthusiasts. Next year will mark my fourth year on the waiting list. It is a slow process but a very enjoyable one. Meeting other collectors and sharing conversations about watches creates a sense of belonging to a community.
During our most recent meeting, William mentioned that the company is planning to narrow the list of watches available to first-time buyers. It seems that F.P. Journe is refocusing on its production, new designs, and future models. It is a very exciting moment for the brand.
Encouraged by these positive experiences, I also began interviewing independent watchmakers. One of these interviews was with Theo Auffret during a visit to France (Newsletter dated April 2024). Unfortunately, family obligations required me to pause these interviews for a time as they often involve travel.
My next memorable encounter was completely unexpected. A few weeks ago, I attended a presentation by Kari Voutilainen at the Horological Society of New York. I was deeply impressed by the design and mechanical beauty of his watches.
Two weeks later, while traveling to Switzerland, I decided to reach out and see if it might be possible to visit his manufacture. To my great surprise, Kari personally replied and invited me to meet him in St. Moritz, where he happened to be skiing that week.
We met with his lovely wife, Terttu, and shared a delicious Swiss meal together. Kari explained how he started his company, his acquisition of the former restaurant Chapeau de Napoléon, which he transformed into a boutique, and his recent acquisition of a second establishment housing all of the traditional guilloche machines.
When speaking with Kari, you quickly sense how deeply he reflects before answering questions. It also becomes clear how essential Terttu is to the company. Together with their daughter Venla and approximately 35 watchmakers, they form a remarkable team.
Kari showed me a watch he had made for Terttu featuring a dial created by Japanese artist Tatsuo Kitamura. At that moment, the philosophy of his workshop became very clear to me. This was not simply watchmaking; it was a collaboration between crafts, cultures, and generations.
In addition to his undeniable talent as an artist and watchmaker, what also impressed me was Kari’s focus on the well-being of his watchmakers. He believes that respecting and supporting them is essential to the company’s success.
Recently, he reorganized production so that each watchmaker assembles an entire watch themselves, rather than dividing tasks. This philosophy is reminiscent of traditional craftsmanship, similar to when Rolls-Royce engineers signed their engines. It will also allow him more time to focus on developing new movements, especially following the discontinuation of the Voutilainen 28 collection, which was based on the Vingt-8 caliber introduced in 2008 and remained a cornerstone of the brand until the end of 2025. At the same time, he is focusing on new designs and new creations. With the acquisition of additional guilloché machines, I am confident that we will see new dials with exceptional colors in the coming years.
The company currently produces around 75 watches per year, and the goal is to reduce production to about 55 pieces annually in order to further increase quality and perfection. As a reminder, everything is done in-house at Voutilainen. Speaking with Terttu, she believes that part of Kari’s success comes from his approachability. Clients can call him directly and speak with him, which is very different from large brands where your contact often changes every few years.
I do not know what the next step for the company will be, but I am very excited to see what is coming. Kari is extremely proud to remain independent. As he explained, owning the company gives him the freedom to create without outside pressure. For him, that freedom and the ability to remain as a small company is what true luxury is about.
While in Geneva, I also had the opportunity to visit Akrivia, founded by the independent master watchmaker Rexhep Rexhepi. I met with Alex Ballmer, the head of customer relations. Walking through Geneva’s old town, you can see six Akrivia workshops, each dedicated to different aspects of watchmaking, including case manufacturing.
The team was extremely welcoming. We met in their showroom, which perfectly reflects the company’s aesthetic and attention to detail. Knowing that Rexhep himself was involved in its design makes you appreciate his talent even more.
Rexhep was born in Kosovo and came to Switzerland during the Yugoslav war. He trained at Patek Philippe before founding Akrivia. Today, at just 38 years old, his achievements are remarkable. Alex presented three watches to me, and the level of detail, from the movements to the cases and dials, was simply astonishing.
Akrivia currently produces about 55 watches per year, with the goal of increasing production slightly in maintaining the level of quality and craftmanship.
Alex also proudly explained that the company welcomes watchmaking students who divide their time between school and the workshops. Today, one student is enrolled in the training program, and the goal is to add another one in 2026 to keep an average of 2 to 3 students per year. Once again, you sense the desire among these talented watchmakers to share their knowledge and preserve their craft.
These interactions reinforced my belief that we are witnessing a fascinating new chapter in horology.
The great maisons such as Patek Philippe and Vacheron Constantin will always remain pillars of the industry. Yet a new generation of collectors is increasingly drawn to something different. Watches that are rare, artistic, and deeply personal.
Independent watchmakers represent that spirit. Their watches are not simply instruments for measuring time; they are works of art born from human craftsmanship and creativity.
Perhaps one day I will own one of these watches, or perhaps not. But simply knowing that they exist is already inspiring.
What struck me most after meeting several of these watchmakers is the sense of camaraderie between them. There is very little competition. Each expresses his own vision through his creations, and sometimes they even collaborate. It is rare and remarkable.
Independent watchmaking may very well be the purest form of horology. No massive production targets or quarterly results to satisfy. Just a small group of artisans pursuing mechanical perfection, one watch at a time.
For collectors, the waiting lists can be long and the watches almost impossible to obtain. But perhaps that chase is part of the charm. In a world where almost everything is available instantly, these watches remind us that some things are still worth waiting for.
