Market Report

Discovering Breguet’s Rich History in Paris

By Roberta Naas

While Paris is a city rich with art, culture and history, there are still intriguing discoveries to be made. One such discovery is right inside the Breguet boutique at 6 Place Vendome. While the façade of the boutique states simply enough “Breguet” it masks a treasure trove that goes above and beyond the display and sale of the brand’s newest luxury watches and jewelry.

Venture inside the boutique, take the staircase to the right and a world of timekeeping history unfolds. The second floor of the boutique houses a unique museum that pays tribute to Abraham-Louis Breguet and the brand – complete with timepieces dating back centuries, and archives filled with original Breguet drawings, as well as company ledgers dating back to 1787 delineating sales to some of the most famous royalty.

Considered the forefather of so many great watchmaking inventions, Abraham-Louis Breguet had a tireless thirst for perfection in timekeeping and is credited with creating the world’s first tourbillon (a watch with an escapement that compensates for the errors in timekeeping due to the effects of gravity when the watch is in certain positions). That invention was first conceived of by Breguet in 1795, though he did not patent it until 1801 (and did not actually put it into production in a timepiece until 1805).

Additionally, Abraham-Louis Breguet was admired in all the Royal courts of Europe in the 18th century, and became the principal watchmaker for the elite of the world’s royalty, diplomats and military. For his most prestigious clients, including Napoleon, he would create several very special pieces. Napoleon’s younger sister, Caroline Murat -- Queen of Naples -- had been particularly fond of the genius watchmaker – and had ordered an amazing 34 watches from him (pocket or pendant watches, with the exception of one requested for the wrist) throughout her reign. That one watch for the wrist is considered to be the first-ever wrist watch.

It was in 1810 that Caroline Murat wrote to Abraham-Louis Breguet requesting him to create a watch for her wrist – with a bracelet made of hair and thin threads of gold. That watch was delivered in 1812, though throughout history it has been lost. Still, the archives have it well documented. The watch was created in an oval shape and required 34 operations over the course of more than two years to complete. It was built as a quarter repeater regulator watch and came in 200 francs under budget – at a pricey sum (at the time) of 4,800 French francs. Those archive entries (along with ledger entries of sales to Marie Antoinette) can be viewed today in the books kept in a temperature-controlled vault in the Paris museum above the boutique.

Additionally, the museum houses approximately 70 of the brand’s most illustrious 18th and 19th century complication watches, as well as some important 20th century Type XX chronographs, and other watches. The museum is well worth the visit and one can spend at least an hour or two marveling at early key-wound watches, as well as at one of the earliest renditions of a keyless wind (stem-wound) watch, a perpetuelle watch and many other pieces that have inspired more recent collections.

Around Paris

Real watch lovers can create an entire Breguet Day in Paris – if not two days -- by visiting other intriguing spots such as wandering by the original building where Abraham-Louis Breguet first set up his watchmaking shops at 39 Quai de l’Horloge (today the building houses an art gallery), or by meandering through the famed Pere Lachaise Cemetery where he and family members are laid to rest.

Other places wherein the Breguet name resides: Museum lovers will find 10 examples of Breguet watches on display in the Louvre. Visitors to the Eiffel Tower may be interested to note that at the first level base of the tower are the names of 72 French scientists – one of which is Breguet. In fact, Abraham-Louis Breguet’s grandson, Louis-Francois Breguet, is memorialized on the Tower for his work in telegraphy and watchmaking. He was awarded in 1845 with the Legion d’Honneur and was made a member of the French Academy of Sciences in 1874.
 
Next, the adventurous soul should visit the Petite Trianon, private home of Marie Antoinette (also a patron of Breguet). This stunning home on the grounds of Versailles has been completely refurbished to its original state that Marie Antoinette enjoyed while living there – thanks largely in part to Breguet, which funded the restoration.

An Austrian princess with an arranged marriage to the French king Louis XVI, the not-so-loved Queen sought refuge from the Paris city center – making the Petite Trianon (which had been built by Louis XV on the grounds of Versailles) her own personal place of pleasure. She had private quarters built for her, including two billiard rooms (her favorite hobby) and a personal boudoir with hide-away roll down mirror panels.

Breguet’s restoration project of Petit Trianon was one that occurred almost via happenstance. When the late Nicholas G. Hayek re-created the now-famed Marie Antoinette watch for the brand; he learned that a centuries-old oak on the property that Marie Antoinette had loved was dying. He asked to buy the wood from the tree to make a very special box for the new exclusive collection of watches. While the wood would have been happily donated to the cause, Hayek said Breguet insisted on paying for it and asked what was needed. He then embarked on funding the restoration. It took several years to complete and cost more than $7 million. Thus, Hayek quipped that the box for the Marie Antoinette watch was the most expensive ever made in the world.

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Market News

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UAE boosts high gold jewellery demand

The high gold jewellery consumption in the UAE made an economic contribution of over $2 billion to the local economy last year, one of the highest in the world. New data released by the World Gold Council (WGC) indicated that the economic impact of gold jewellery consumption in the country was estimated to be in the region of $2.5 billion, the fifth highest in the world after China, India, United States and Russia. The UAE is one of the top 13 gold consuming countries, with its gold jewellery consumption amounting to 50 tonnes, the sixth highest globally as of 2012.

Dubai Duty Free sales growth by 11% sales up in ten months

Dubai Duty Free is looking to achieve double digit sales growth for the year as sales up to the end of October reached Dh4.71 billion ($1.29 billion), representing an 11 per cent increase over the same period last year. The latest sales figures put the operation on track for year-end sales of an estimated Dh6 billion ($1.6 billion).The Perfumes category, which accounts for 15 per cent of total sales at Dubai Duty Free, retained the No 1 spot as sales rose to Dh727 million ($199 million) in the ten-month period. All sales figures have been recorded across all three Terminals for both departing and arriving passengers.

Company News

MOMODESIGN opens flagship store in Abu Dhabi

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S.T. Dupont opens its first flagship boutique in the Galleria Mall in Abu Dhabi

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Bell & Ross to participate in Dubai Air Show 2013

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London Business School and Walpole British Luxury launches programme in 'Luxury Management'

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Jaeger-LeCoultre is the official sponsor of 120th Argentine Polo open of Palermo

Jaeger-LeCoultre enjoys the honour of becoming the official sponsor and timekeeper of the 120th Argentine Polo Open of Palermo – the oldest polo tournament in the world, which is celebrating its 120th anniversary this year. From November 16th to December 7th 2013, polo aficionados will be able to enjoy this fascinating championship featuring three weeks of competition pitting the world’s eight best teams against each other.

Greubel Forsey launches the new “Tourbillon 24 Secondes Contemporain”

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Product Launch

Vacheron Constantin presents Patrimony Contemporaine Ultra-Thin Calibre 1731

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Mouawad presents La Griffe Watch collection

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Baume & Mercier commemorates the UAE National Day with a Capeland Watch

On the occasion of the UAE’s 42nd National Day, Baume & Mercier shows its love for the nation with a limited edition timepiece; the Capeland. The limited edition watch was especially designed to represent the colours of the UAE flag and is a true reflection of Baume & Mercier’s dedication to the nation. The UAE Edition Capeland flyback chronograph has a diameter of 44mm. Engraved with “UAE Edition - 001/100” highlighting the exclusivity of this exceptional edition.

Girard-Perregaux presents Hawk Collection

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RJ-Romain Jerome receives “Campaign of the Year” award

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Strom unveils the latest addition to the Agonium collection

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Visconti presents Limited Edition Pen for the UAE 42nd National Day Anniversary

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Exhibitions & Events

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The 4th edition of World Luxury Expo comes to Doha

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Christie's to auction the world's largest fancy vivid orange diamond in the world

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Celebrity News

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