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Wristwatches by Bruce Shawkey (WI)

Eberhard “Our Product Is Our Testimony”

O

f all the watch companies whose pavilions I visited during my trip to Baselworld 2014, I was most impressed with Eberhard & Co. This small, quiet company has been making quality watches since its founding in 1887. Even during the dark years of the quartz invasion, when many watch companies went dormant or out of business entirely, Eberhard kept making watches, yes even quartz watches. The company is again doing what it does best: making mechanical watches. Eberhard currently makes about 16,000 watches a year. To put that in perspective, Rolex makes that many watches in about a week. But Eberhard never aspired to be a Rolex, nor does it want to be. “We see ourselves as a good-taste niche brand,” says Eberhard General Manager Mario Peserico. “We appeal to the consumer who is impressed with technical excellence rather than celebrity testimonials. At Eberhard, our product is our testimony.”  It’s not a formula for every watch manufacturer, but it has obviously worked for Eberhard. It sells almost every watch it makes. (There’s no annual sell-off of excess inventory, as many watch companies do.) Every year, a small but growing band of loyal followers makes the pilgrimage to the company’s pavilion (Figure 1) at the world’s premier watch show. (Eberhard started attending Baselworld 68 years ago in 1946 and has attended nearly every annual show since then, making the company one of Baselworld’s longest continuous exhibitors.) Visitors come not only to see the new watches Eberhard is making but also to admire the impressive collection of vintage timepieces the company displays from nearly every decade, beginning in the 1910s. A few of the watches from that display can be seen in Figure 2. This year’s

Figure 1. The author standing next to Eberhard’s pavilion at Baselworld 2014. display included a beautiful hermetic watch from the 1920s (Figure 3) that I had never seen before. The display is proof to its customers that Eberhard is proud and keenly aware of its heritage and serves as a reminder to the company to stay true to its roots. The company and its watches may not have the greatest brand recognition in the United States, but they are well known in Europe, especially Italy. Many people do not know this, but Italy is the sixth-largest market for watches in the world. Eberhard is also popular in Switzerland and Germany. Eberhard is most famous for its chronographs, though the company has made many beautiful time-only wristwatches through the decades and continues to do so today. But its real stock in trade—and where perhaps its inno-

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Figure 3. A rare hermetic watch from the 1920s— about the size of a silver dollar.

Figure 2. A sample of Eberhard’s amazing display of vintage watches at Baselworld 2014. The rare Sistema Magini is seen in the lower right corner. vation shines the most—is its chronographs.

Founder Started Company at Age 22 Founder Georges Eberhard (Figure 4) began his company in 1887, in La Chauxde-Fonds, Switzerland. His father, a Figure 4. Founder p r o m i n e n t Georges Eberhard. b u s i n e s s - COURTESY EBERHARD. man, had introduced Georges to watchmaking at an early age, so it perhaps is not surprising that Georges was  only 22 when he founded the company. We know little of those early years, but a booklet produced in 1947 to mark the company’s 60th anniversary describes Georges as very industrious and hard-working despite a comfortable life to which his family’s wealth could have afforded him. Early on, he identified Italy as a prime market for export and is said to have traversed the greater southern portion of the country on muleback to become acquainted with jewelers www.nawcc.org

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Figure 5, left. Eberhard’s impressive headquarters in La Chaux-deFonds, built in 1907 and used by the company until 1969. COURTESY EBERHARD.

and watchmakers and the needs of their customers. Perhaps this is why Italy has always been one of the company’s primary markets, even today. By 1907 the company was one of Switzerland’s largest watch manufacturers, and it built a new five-story headquarters in the heart of the La Chaux-de-Fonds business district (Figure 5). The Parisian-like structure, which took up an entire city block, was designed in distinctive Beaux Arts style, with a round tower topped by a large eagle sculpture. It became one of the city’s most wellknown landmarks, and for decades the company used photographs and drawings of the headquarters to adorn its catalogs and promotional literature. (Sadly, after the Eberhard family sold the company in 1969 its production facilities were moved to Bienne, Switzerland. The former headquarters building, on rue Leopold Robert, still stands and has been repurposed.) Early on, the company focused on watches with higher-quality adjusted movements (both time-only and chronographs) intended for scientists, technicians, physicians, and civil servants. But soon its watches caught on with those in the general public who were more impressed with technical excellence than pure fashion. A surviving catalog from the 1910s shows two watches (Figure 6) that no doubt reveal the pinnacle of technical excellent and complications at the time: a chronograph with quarter-hour and minute repeater function, and a similar model that added triple date and moonphase indicators. Another surviving catalog from 1915 (Figure 7) shows the company was also interested in ladies’ watches www.nawcc.org

and shows a variety of wristwatch designs cased in Figure 6. Two chronographs by Eberhard with additional platinum and 18 complications. COURTESY EBERHARD. kt. solid gold. We know little of the company’s lugs and a loop-through leather strap activity during World War I. The same as other companies were doing at the booklet mentioned earlier only hints time. Also during this time, the comthat the company was able to con- pany developed its very stylized name tinue supplying its customers with logo (Figure 10), with the “o” inside quality watches while other com- the capital “C” as the abbreviation panies had to slow or in some cases for “company,” a logo that Eberhard cease production due to scarcity of uses to this day. Many early wristmaterials. watches continued to be signed with By 1919 sons Georges (II) and the traditional block letters, but soon Maurice (Figure 8) had joined the nearly all dials were signed with the company. Recognizing early on the stylized logo, instantly recognized by shift of timepieces from the pocket Eberhard devotees. to the wrist, the company that same The 1920s were a glorious time for year came out with its first true wrist Eberhard (as for most watch compachronograph (Figure 9), built specifi- nies), with a post-war economic boom cally for the wrist and not just a pocket chronograph jury-rigged with wire Figure 7. A page from the company’s circa 1915 catalog, showing women’s watches in platinum and 18 kt. gold. COURTESY EBERHARD.

Figure 8. Georges (II) Eberhard (left, circa 1942) and Maurice Eberhard (circa 1947). COURTESY EBERHARD.

Figure 9, right. The company’s first wrist chronograph, circa 1919.

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© 2014 National Association of Watch and Clock Collectors, Inc. Reproduction prohibited without written permission.

Figure 10. The Eberhard stylized logo. providing many consumers with the means to purchase a watch, and more and more of these purchases were wristwatches (although sales of pocket watches continued to be strong for most companies—Swiss and American—into the 1930s). With the death of the founder in 1926, Georges (II) and Maurice took full control of the company and wasted little time in continuing the company’s tradition of excellence and innovation. To wit: 1935: Introduction of what is believed to be the industry’s first doublepusher chronograph featuring start and stop without having to reset the chronograph back to zero (Figure 11). 1938: Eberhard introduces its first chronograph with a third register to count elapsed hours (Figure 12). 1939: Creation of the company’s first split-second chronograph that allows two timing sessions to be displayed simultaneously (Figure 13). The company also produced during this time what I personally believe is its most beautiful vintage chronograph from an artistic standpoint, with hinged lugs (Figure 14). It has been referred to by some collectors as the “Luftwaffe model,” but this is pure fantasy created and promulgated by Internet urban legend. There is no evidence to suggest that Eberhard sold this watch—or any watch—to the German military (Luftwaffe or otherwise) under contract. The World War II years were, in fact, quite devastating to Eberhard, with its primary market (Italy) virtually cut off because of that country’s involvement—first on Germany’s side and then on the Allied side— with the war. The company’s overreliance on that single market in fact resulted in significant layoffs at the company during this time. The one remarkable watch that Eberhard supplied to the Italian air

Figures 11-13, left to right. Three impressive chronographs developed and released during the 1930s. From left: double-pusher chronograph featuring start and stop without having to reset the chronograph back to zero; the company’s first three-register chronograph; and the company’s first split-second chronograph that allows two timing sessions to be displayed simultaneously. COURTESY EBERHARD. Figure 14, left. A beautiful one-button chronograph by Eberhard, circa 1930s, with flexible lugs.

force (Figure 15) was a split-seconds pocket watch chronograph called the “Sistema Magini” (also known as the  “Metodo Magini”). It is rare and highly collectible. A specimen sold in 2012 at an auction in  Vercelli, Italy, for $70,000.

Post-War Boom & Ownership Transfer Another post-war boom, similar to the one following World War I, provided Eberhard another opportunity to prosper. A surviving catalog from 1947 shows the company was able to rebound quite quickly, at least with chronographs. That is also the year that Eberhard introduced its “Extra-Fort” line of chronographs, with increased moisture and shock resistance and the sliding lower “stop/ start” button that is a signature feature of many Eberhard chronographs to this day. Even as the company

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Figure 15. The rare “Sistema Magini” (aka “Metodo Magini”) split-seconds pocket watch chronograph, used by the Italian air force during World War II. COURTESY EBERHARD.

prospered, the Eberhard family suffered a series of misfortunes. The premature passing of Georges (II) in 1942 left brother Maurice in sole charge of the company. In an astute, but perhaps uncharacteristic move among family-owned Swiss businesses, he appointed a senior executive outside the family to cultivate new markets, notably Anglo-Saxon countries, to reduce its reliance on Italy and immediate surrounding countries. To some degree, the move was successful, but unfortunately, the United States was still largely passed by, due in great part to high import tariffs on watches with high-grade (adjusted) movements imposed at the behest of the American watch industry. Eberhard refused to compromise on quality, and thus its expansion www.nawcc.org

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Figure 19. Novelty (fancy shape): four modThe iconic els. “Contograph” Some select models from that catsports alog can be seen in Figure 16. I direct chronograph, your attention to a couple novelty introduced models from this period that have in 1960 and been sold on the Internet. Figure 17 re-created in a fiftieth shows a 1950s model that recently anniversary sold on eBay for $122, a steal in my issue. opinion that shows just how underappreciated some of these vintage Eberhard watches remain. Figure 18 shows a superb sports/casual model term Eberhard’s first true sports chrooffered for sale on a private website. nograph, the Contograph (Figure 19). It is designed with an ingenious outer The two-register chronograph watch case that protects the inner case from featured an extra-robust case with bumps, scratches, etc. I believe this heavy-duty steel bracelet, date indicacase design is unique to Eberhard, tor at 6 o’clock, and rotatable bezel ring because I have never seen it offered to provide an additional timer funcon any other watch brand. tion. It became one of Eberhard’s most Tragedy struck the Eberhard fam- recognizable models. So much, in fact, Figure 16. Sample watches from a ily in 1962 when a daughter, Dani- that Eberhard used the occasion of 1952 Eberhard catalog. elle, was killed in an automobile ac- Baselworld 2014 to unveil an anniverinto the English-speaking markets was cident, along with her husband An- sary edition Contograph, which is a largely limited to the United King- dré Montondon, leaving behind two virtual carbon copy of the original. dom and Canada, and to a lesser de- young children. Both Danielle and The turmoil in the watch market gree, Australia and New Zealand. But André were quite involved with the of the 1960s, with cheap disposable slowly and surely, the Eberhard name company by this time, and together watches and the soon-to-be omniwas being recognized outside of Italy. were the heir apparent to run Eber- presence of the quartz watch, dealt a South America also became an impor- hard when Maurice would eventually devastating blow to Eberhard. That, tant export country, due in large part retire. A second child of Maurice’s, a along with no apparent heir to run to a growing German population im- son named Maurice-André did not the company, forced Maurice, now migrating to countries there. A 1952 enter the company business and by age 69, to consider selling the compacatalog I was lucky enough to acquire accounts was esny. Then, quite by chance, shows 34 models of wristwatches as tranged from the Maurice met an Italian by follows: family. the name of Palmiro MonMen’s Chronographs: seven modOnce again ti, who was very active in els; alone to run the the Swiss watchmaking inMen’s Utility (time-only) models: company, Maurice dustry. Monti exhibited a one model; championed on. deep interest in the history Men’s Dress, round: 12 models; The year 1960 saw of Eberhard and eventuLadies’ Dress: five models; the introduction ally convinced Maurice of Ladies’ Utility: five models; of what I would his ability to represent the future of his beloved comFigure 17, below. A beautiful dress watch, circa 1950s, that pany. In 1969 Maurice sold recently sold on eBay for a mere $122. Figure 18, right. Eberhard to a group of priA very unusual double-cased Eberhard watch, circa 1960s, vate investors, led by Monprobably intended for utility use as the outer case protects ti, for an undisclosed sum. the watch against scrapes and bumps. Those first years were tough, with Eberhard conceding to making quartz watches for a time. (“Quartz watches were the only watches selling, so the company did what it had to do to survive,” says Peserico.”) It was not until www.nawcc.org

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© 2014 National Association of Watch and Clock Collectors, Inc. Reproduction prohibited without written permission.

1982 that market realities allowed the company to relaunch a mechanical watch, and they did so (appropriately enough) with a chronograph. The model was named the “Replica Marine,” the design of which harkened back to the designs of the 1930s. Things hummed along relatively smoothly for Eberhard for the next few years, including the introduction of several successful models: the “Chronomaster;” a limited edition Centenary model in 1987; a “Tazio Nuvolari” chronograph model in 1992 (which is still produced today); and others. In 1998 Monti laid down on paper a revolutionary design for a chronograph that would again seal the company’s reputation as a true innovator in the market. The watch would have four registers and rather than being placed around the circumference of the dial, would be placed in a horizontal row. In 2001 the “Chrono 4” was born (Figure 20). Its patented and registered design set the watch world on its ear. The four registers are 30-minute timer, 12-hour timer, 24-hour GMT time indicator, and constant seconds. The horizontal placement, along with an automatic movement, necessitated a larger-than-average case, at 40mm diameter. With larger watches coming into fashion at the time, the oversized watch was welcomed into the market, quite literally, with open arms. Monti died in 2004, and daughter Barbara—who had already been with the company for a time—took over and is the CEO and a major stockholder of the company. I have not met her, but word within the industry is that she is technically and financially savvy and is actively involved in the company and is not just a figurehead. She joins a small but growing number of women (Aletta Stas of Frederique Constant/ Alpina comes to mind) who are playing major roles in this traditionally male-dominated industry. (Women have been in the Swiss watchmaking

Figure 20. One of Eberhard’s most innovative designs, the “Chrono 4,” places all four registers in a horizontal row. COURTESY EBERHARD. industry since the 1800s, but until the last few decades, almost exclusively as low-paid assembly workers.) The company is often described today by the media as a maker of luxury, king-sized watches. Peserico agrees with the large watch description—a trend he says will continue for a while, though he believes the era of super-jumbo watches (50mm diameter and larger)—is coming to an end. (Thankfully, in my opinion!) He bristles at the notion that Eberhard is a luxury watch. “Luxury is a relative concept,” he says. “I tend to think of luxury as anything I cannot afford. So by that definition, a $100 watch is a luxury to someone who can only afford $50.” He tends to think of Eberhard— where chronographs start around $5,000—more as a maker of “attainable” watches. In other words, Eberhard watches are within the realm of acquisition to Eberhard’s target market: males, ages 35-55, above-average income (but not necessarily on the Forbes list of the 500 richest people in the world), and who know enough about watches to know that the technical features and quality built into an Eberhard chronograph typically cost thousands of dollars less than the company’s competitors. The company’s most popular watch today is the “Chrono 4” followed closely by the “8 Jours” (timeonly, 8-day power reserve), both equipped with movements featuring modules patented by Eberhard. The “Gilda” is currently the company’s only collection for women, owing to the fact that men’s watches comprise

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the vast majority (90 percent) of Eberhard’s market. To see the company’s complete model lineup, visit its website at www.eberhard-co-watches.ch. The company’s presence in the United States has remained sketchy since the rebirth of its mechanical watches in 1982. It has been represented at times by RABCO Luxury Holdings, LLC; and Swiss Watch Consultants, LLC; neither seemed to be able to find the right niche for Eberhard in the United States. Eberhard is currently represented in the United States by ABS Distributors of Yorba Linda, CA. “We have around 15 points of sales in the United States now,” says Peserico. “Our goal in the next four to five years is to have 60 to 70 points of sale.” The company sees annual production during the same period increasing from 16,000 pieces to about 20,000. Again, these are relatively small numbers compared with other watch brands, but the goal (if reached) will be sufficient, says Peserico, to make Eberhard a more recognized brand in the United States. In my opinion, all this bodes well for vintage Eberhard watches. Right now, they are a terrific bargain in the marketplace. But I believe that will soon change!

Acknowledgment I thank Raffaella Guerra, of Astor Time Ltd., for her help with this article, which included scanning numerous documents from the company’s archives.

Errata In my last wristwatch column on Edox watches, I incorrectly spelled the last name of company spokesperson Laurence Wiedmer. As one who experiences frequent misspellings of my own last name, I try to be particularly sensitive to this, but occasionally I slip. I regret the error and offer my most sincere apologies to Ms. Wiedmer.

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