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The claims ledger

Figures the watch industry repeats, and what happened when we tried to trace them. Untraced does not mean false. It means nobody can show where the number came from — which is a different thing, and a checkable one.

59 claims · 1 disproved · 5 contested · 23 untraced · 30 traced

Disproved #

"In-house" has an agreed definition

There is no legal definition, no industry threshold, no register, no certification and no body that adjudicates a claim. Compare "Swiss made", which is protected in ordinance. "In-house" cannot be breached because there is nothing to breach.

Printed in The Dial Makers Nobody Names

Contested #

Master Chronometer certification requires 0/+5 seconds a day

That figure, printed on Tudor's own certification page among others, is METAS-N001's tolerance for category 1a movements only (fitting diameter over 26mm). The same table sets 0 to +6 seconds a day for category 1b (20–26mm) and 0 to +7 for category 2 (20mm or under) — a three-step scale collapsed into one number by most of what gets published about it, brand pages included.

Printed in COSC Tests the Movement. METAS Audits the Brand's Own Test. Here's What "Chronometer" Buys You.

Contested #

Master Chronometer testing is carried out by METAS, the Swiss government metrology institute

METAS's own N001 standard defines the "testing laboratory" — the entity that performs the tests — as one that "can be the applicant's in-house laboratory or the laboratory of a third-party entity commissioned by the applicant," acting under the applicant's own responsibility. METAS's stated role is to monitor that laboratory through statistical analysis of its results and periodic sample checks, not to run the day-to-day testing itself.

Printed in COSC Tests the Movement. METAS Audits the Brand's Own Test. Here's What "Chronometer" Buys You.

Contested #

Silicon hairsprings are more shock-resistant than metal ones

Depends entirely on what "shock" means. Some manufacturer language claims better rate-keeping through a shock event for specific designs; separately, and better documented, silicon is a more brittle material than the metal alloys it replaces and cannot be bent back once deformed. The two claims get run together in coverage and describe different things.

Printed in Silicon Hairsprings, Plainly

Contested #

That buying grey means giving up your consumer rights

It does not, where the seller is a trader. The Consumer Rights Act 2015 attaches to the contract between trader and consumer and says nothing about authorised distribution, so the statutory rights at a grey dealer and an authorised dealer are the same ones. What differs is the manufacturer's voluntary guarantee, which is a separate thing sitting on top.

Printed in Your Card Protects a £29,000 Watch. It Does Not Protect a £31,000 One.

Contested #

That the June 2026 increase passed through the rising cost of gold

Against the January list it cannot have: the metal moved $3.10 a gram between the two lists, and recovering $2,200 at that rate needs 710 grams of fine gold in the watch. Against an autumn 2025 baseline it comfortably can. Rolex publishes neither the baseline it prices from nor the weight of gold in the watch, so the claim cannot be tested from outside — which is a different objection from saying it is false.

Printed in Rolex Raised Gold Prices in June. Gold Had Already Fallen 18%.

Untraced #

A specific auction record for a shaped Cartier reference

Records are quoted constantly in the trade. A specific result needs a specific lot reference, and the sales in question are not all documented in a form a reader can be pointed at, so the piece cites the existence of specialist watch departments rather than a hammer price. The direction of the reappraisal is not in dispute; a number attached to it would need a citation we do not have.

Printed in Cartier Competes With Rolex on Desirability and Does Not Make a Sports Watch · If you can source this, tell us and we print the correction and name you.

Untraced #

Access to escapement parts has been restricted the way ETA movement supply was

No regulator has tested that question for oscillating components. The ETA restriction is documented and was wound down under a competition settlement; nothing establishes the same for the regulating organ, and this publication does not assert it.

Printed in The Most Important Company in Swiss Watchmaking Is Owned by a Competitor

Untraced #

Akrivia produces roughly thirty to forty watches a year

The figure the trade uses and the one Rexhepi's own comments about staying small are consistent with, but no audited or filed production number exists for a private Geneva atelier. Treated as the working assumption it is.

Printed in Akrivia: The Most Promising Independent Alive — Which Is Exactly the Problem · If you can source this, tell us and we print the correction and name you.

Untraced #

Any survival or failure rate quoted for that cohort

We have found no published rate whose method and cohort are stated. Every figure we have seen is asserted. If one exists with a traceable denominator, we will correct this and write the original piece.

Printed in The 2020 Microbrand Boom Raised Its Money in Public. Its Failure Rate Is Private. · If you can source this, tell us and we print the correction and name you.

Untraced #

Becoming an authorised service partner for one of the big groups' brands requires an equipment and tooling commitment of around £35,000

The figure circulates in trade coverage and in this masthead's own commissioning brief. We could not trace it to a published policy, a service contract, a filing or an authority's finding. COMCO's 2018 report records that independent watchmakers told it the required tooling and premises exceeded their means, and the General Court calls the investments "large" — neither puts a number on it, and the service contracts are not public.

Printed in Your Car Has a Right to Independent Repair. Your Watch Does Not. · If you can source this, tell us and we print the correction and name you.

Untraced #

How often the criminal provision in the ordinance has actually been enforced against a false Swiss made claim

Article 8 makes any breach subject to the criminal provisions of the Trade Mark Protection Act. We could find no published count of prosecutions or convictions. FH's anti-counterfeiting pages report seizures of fakes — a different offence — and the most recent figures there date from 2014. A rule is only as strong as its enforcement record, and this one's is not public.

Printed in "Swiss Made Is an Arithmetic Test. The Same Watch Scores 75% or 87%, Legally." · If you can source this, tell us and we print the correction and name you.

Untraced #

Nivarox-FAR supplies north of 90% of Swiss mechanical hairsprings

No filing, no regulator's finding, no company statement. It appears in trade coverage without attribution, gets repeated, and hardens into fact. Swatch Group's own page calls the company "the leading Swiss specialist" in oscillating and escapement parts, which is documented and sufficient; the percentage is not.

Printed in The Most Important Company in Swiss Watchmaking Is Owned by a Competitor · If you can source this, tell us and we print the correction and name you.

Untraced #

Rolex's hairsprings are "ten times more resistant to shocks" than a standard one

Repeated across trade coverage and attributed to Rolex, but neither of Rolex's own current pages for its two hairsprings — Parachrom (a metal alloy) and Syloxi (silicon) — states a number; both use only qualitative language. No dated Rolex statement carrying this figure could be located.

Printed in Silicon Hairsprings, Plainly · If you can source this, tell us and we print the correction and name you.

Untraced #

Rolex's own reason for the June 2026 increase

There is not one on the record. Reuters asked and reported that "Rolex declined to comment for this story", building the report instead on two luxury research platforms and two dealers; the trade coverage that followed carries no company comment either. Every published explanation of why gold prices rose is inference by people outside the company.

Printed in Rolex Raised Gold Prices in June. Gold Had Already Fallen 18%. · If you can source this, tell us and we print the correction and name you.

Untraced #

Seiko is the most vertically integrated watchmaker in the world

Establishing it needs component-level disclosure from every candidate, and none of them publish it. What is checkable is what Seiko demonstrably makes, which is a great deal; the superlative is not, and the piece describes rather than ranks.

Printed in Seiko Makes Watches From £80 to £8,000 and Cannot Explain the Difference

Untraced #

Seiko's reference availability differs materially by region

Real in the trade, and the pitch for the piece raised it. But the Prospex, Presage and King Seiko pages resolve identically across the company's own global, US, UK and Japanese paths, so it could not be evidenced from the record and was not printed as a finding.

Printed in Seiko Makes Watches From £80 to £8,000 and Cannot Explain the Difference · If you can source this, tell us and we print the correction and name you.

Untraced #

Ten watchmaking jobs go unfilled for every watchmaker available to fill one

Attributed on record to Jason Champion, AWCI's director of education, in trade coverage — a named source, not an invented one — but AWCI has not published the ratio itself or the survey it would come from, so it cannot be checked.

Printed in The Swiss Watch Industry Needs 3,835 More Watchmakers by 2026. Most Of Them Are Replacements. · If you can source this, tell us and we print the correction and name you.

Untraced #

The Yema Superman was launched in 1963

The date is repeated almost everywhere the watch is written about. It does not appear on Yema's own history page, which does not mention 1963 at all — the brand's Superman entry is dated 1967 and concerns the bezel-lock patent, and its collection page says only "first introduced in the 1960s". A brand that documents its own timeline in detail and omits the founding date of its most famous model is worth noticing.

Printed in Yema Tells You Exactly What "In-House" Means. Almost Nobody Else Does. · If you can source this, tell us and we print the correction and name you.

Untraced #

The annual revenue of any individual Swatch Group brand

No figure is published by the company, and the estimates that circulate are ones it says deviate on average by 24%, with four of twelve brands more than 40% off. The corrections it has issued are partial — a margin here, a retail share there — and cannot be assembled into a revenue line. Nobody outside the company knows, and the company has chosen not to say.

Printed in Swatch Group Won't Report by Brand. It Will Correct You by Brand. · If you can source this, tell us and we print the correction and name you.

Untraced #

The number of independent watchmakers in Europe has fallen sharply as a result of the parts restrictions

The General Court refers at paragraph 112 to "the reduction in the number of independent repairers affiliated to a national association of independent repairers" without quantifying it. CEAHR's own evidence put the fall in association membership in Germany and the UK at 15-20% between 2004 and 2010, and acknowledged that this measures membership rather than the workforce, since joining is not compulsory in most member states. No authority, trade body or register publishes a time series of independent watchmakers in business.

Printed in Your Car Has a Right to Independent Repair. Your Watch Does Not. · If you can source this, tell us and we print the correction and name you.

Untraced #

The number of watch brands that launched during the 2020 crowdfunding boom

No public figure exists that we can trace to a source. This is the denominator the commissioned piece needed, and its absence is why that piece is not this one.

Printed in The 2020 Microbrand Boom Raised Its Money in Public. Its Failure Rate Is Private. · If you can source this, tell us and we print the correction and name you.

Untraced #

The weight of gold in a modern Rolex Day-Date 36

Rolex publishes no case, bracelet or gross weight for any reference, in its own specifications or anywhere else. Dealers weigh individual watches and publish the result — one listed ref. 18238 at 129.4 grams gross — but an individual second-hand watch on a dealer's scale is not a factory figure, and no factory figure exists to check it against.

Printed in Rolex Raised Gold Prices in June. Gold Had Already Fallen 18%. · If you can source this, tell us and we print the correction and name you.

Untraced #

US watchmaker numbers fell from about 44,000 in 1953 to around 6,500 today

Circulates widely in trade coverage, attributed vaguely to "AWCI records" and "the Bureau of Labor Statistics." AWCI's own site publishes no such figures, and no specific BLS occupational series covering 1953 could be located.

Printed in The Swiss Watch Industry Needs 3,835 More Watchmakers by 2026. Most Of Them Are Replacements. · If you can source this, tell us and we print the correction and name you.

Untraced #

What the major Swiss manufacturers' warranties say about watches bought outside the authorised network

Rolex, Tudor and Omega all refused every attempt to read their published warranty terms — 403 to a browser user-agent at rolex.com and tudorwatch.com, and no response at all from omegawatches.com. The terms are published, and we could not reach them to quote them, so this piece makes no claim about what any individual manufacturer will honour.

Printed in Your Card Protects a £29,000 Watch. It Does Not Protect a £31,000 One. · If you can source this, tell us and we print the correction and name you.

Untraced #

Whether any individual "sold" price behind a platform's published aggregate can be independently verified by a reader, rather than taken on the reporting party's word

None of WatchCharts, Chrono24 or EveryWatch publishes transaction-level data. All three describe internal checks — WatchCharts' 30-day weighting, Chrono24's own-marketplace visibility, EveryWatch's "AI and manual processing" with "median effects" — but none allows an outside party to trace a specific published figure back to the sale it rests on, outside the auction-house portion of the market.

Printed in The Secondary Watch Market Is a $10.5 Billion Number. $680 Million of It Came With a Receipt. · If you can source this, tell us and we print the correction and name you.

Untraced #

Yema produced over 500,000 watches a year and was the largest French watch manufacturer in the 1960s and 1970s

Widely repeated, including on Wikipedia. We have not found a filing, an audited figure or a company statement behind it. Plausible for the period and the plant; still nobody's number.

Printed in Yema Tells You Exactly What "In-House" Means. Almost Nobody Else Does. · If you can source this, tell us and we print the correction and name you.

Untraced #

mb-microtec makes most of the world's tritium light tubes

The premise of our own commission, and widely repeated. mb-microtec's pages say trigalight are "the world's smallest" gaseous tritium light sources, which is a claim about size, not share. We found no production or market-share figure from the company, a regulator or a filing.

Printed in There Is a Licensed Radioactive Source on Your Wrist. The Smoke Alarm Gets the Label. · If you can source this, tell us and we print the correction and name you.

Traced #

A bank is not obliged to raise a chargeback

The Financial Ombudsman Service: "A bank or lender doesn't have to raise a chargeback. But if valid reasons exist, it can be good practice for them to do so." Chargeback is a card scheme rule, not a statutory right, and the schemes' rules differ from each other.

Printed in Your Card Protects a £29,000 Watch. It Does Not Protect a £31,000 One.

Traced #

An independent brand's silicon-hairspring supplier lost a patent case over it in 2019, five years before the underlying patent expired

Federal Patent Court case S2018_006: CSEM sued Cendres+Métaux Microtech over the CMK1 movement used in Horage's Multiply watches; the court found the patent valid and granted interim injunctive relief against the movement maker.

Printed in Silicon Hairsprings, Plainly

Traced #

EveryWatch's H1 2026 report puts total secondary-market sold value at $10.5bn (up 37.2%), from 795,000 watches sold via 650 dealers and 472 auction houses, of which $680m (6.5% of the total) was auction sales

JCK's 3 August 2026 report on the EveryWatch H1 2026 Secondary Market Report, corroborated by The Idea Farm's syndicated summary of the same report.

Printed in The Secondary Watch Market Is a $10.5 Billion Number. $680 Million of It Came With a Receipt.

Traced #

Gold fell below its 2 January level on 8 June, a week after the gold-only increase, and reached its low for the year at $3,993.55 on 16 July

Both read from the LBMA PM benchmark daily series. Rebased to the 2 January setting of $4,352.95, the July low is 8.3% below where the year began, and all fifty-one settings from 1 June to 10 August sit below the 5.0% the yellow gold list rose.

Printed in Rolex Raised Gold Prices in June. Gold Had Already Fallen 18%.

Traced #

Gold has roughly doubled in three years

It has more than doubled. The PM benchmark was $1,920.90 on 10 August 2023 and $4,335.55 on 7 August 2026, a rise of 125.7%. The trade's version of this claim is the one part of the explanation that survives checking.

Printed in Rolex Raised Gold Prices in June. Gold Had Already Fallen 18%.

Traced #

Gold reached an all-time high of $5,405 an ounce on 29 January 2026 and was $4,449.30 on 1 June, the day Rolex's gold prices rose

Both figures are the LBMA PM benchmark, read from the LBMA's own published daily series. The fall between the two is 17.7%.

Printed in Rolex Raised Gold Prices in June. Gold Had Already Fallen 18%.

Traced #

In the November 2025 Geneva auction season, results hammered at 99% of high estimate in aggregate (86% a year earlier); F.P. Journe hammered at 176% of high estimate; Rolex and Audemars Piguet did not reach 80%, down from 88% and 85% in 2024; and Patek Philippe, Rolex and Audemars Piguet together made up more than 60% of the total lots offered

Tony Traina's lot-by-lot analysis on Unpolished, relayed with the brand-level figures by SJX Watches; Traina's own newsletter is paywalled beyond the aggregate figures and methodology note, which were read directly.

Printed in The Secondary Watch Market Is a $10.5 Billion Number. $680 Million of It Came With a Receipt.

Traced #

Section 75 applies even if only part of the price was paid on the credit card

The Financial Ombudsman Service, in its own words: "it's the cash price of the goods or services that matters, not what you paid on your credit card or loan – for example, Section 75 applies even if you only made part of the payment using credit".

Printed in Your Card Protects a £29,000 Watch. It Does Not Protect a £31,000 One.

Traced #

Section 75 applies only where the cash price of the item is more than £100 and not more than £30,000

Section 75(3)(b) of the Consumer Credit Act 1974, in terms. The Financial Ombudsman Service states the same limits and adds that it is the cash price that matters, not the amount put on the card.

Printed in Your Card Protects a £29,000 Watch. It Does Not Protect a £31,000 One.

Traced #

Swatch Group reports two operating segments, with the entire watch and jewellery business as one line — CHF 2,951m in the first half of 2026 and CHF 5,934m in 2025

Read off the segment information notes in the half-year report and the 2025 annual report. Corporate is shown separately and is explicitly not a segment.

Printed in Swatch Group Won't Report by Brand. It Will Correct You by Brand.

Traced #

Switzerland's competition authority found it "not improbable" that watch manufacturers hold a dominant position in the secondary markets for after-sales service and spare parts, and that their service systems could constitute an abuse of it — then closed the inquiry without opening a formal investigation

COMCO Secretariat, final report of 8 May 2018, case 32-0256, paragraphs 189-190. The finding and the decision not to act on it are in the same document, on consecutive pages.

Printed in Your Car Has a Right to Independent Repair. Your Watch Does Not.

Traced #

The bracelet or strap is excluded from the 60% calculation entirely

Article 1 paragraph 3 of the ordinance removes the component that enables the watch to be worn from the definition of a watch. FH's guide states the consequence in terms, and adds that even a bracelet soldered on permanently keeps its costs out of the sum.

Printed in "Swiss Made Is an Arithmetic Test. The Same Watch Scores 75% or 87%, Legally."

Traced #

The foundational silicon-hairspring patent has expired, but the technology is not simply open

EP1422436B1 (CSEM, filed 2002) expired 25 November 2022. A narrower patent on a different crystal orientation, held by Master Dynamic Ltd and filed in 2016, runs to 2036. The Swiss Federal Patent Court upheld the original patent against a rival design as recently as February 2019.

Printed in Silicon Hairsprings, Plainly

Traced #

The number of brands refusing to supply spare parts to independent repairers rose, on CEAHR's own evidence, from 3 to 38 in Belgium, 12 to 39 in the Netherlands and 22 to 42 in the UK between 1985 and 2005 — gradually, in five-year steps, and at different rates in each country

European Commission, Decision C(2014) 5462 final, Case AT.39097 "Watch Repair", footnote 168, which reproduces the progression from CEAHR's submission of 20 July 2005, Annex 11, and records that Italy appears in the same table with no data. The figures are not in the 2017 General Court judgment; the decision is where they are set out.

Printed in Your Car Has a Right to Independent Repair. Your Watch Does Not.

Traced #

The same watch scores 75% or 87% Swiss depending on which permitted calculation method is used

Both figures are read off the Federation of the Swiss Watch Industry's own worked examples on page 18 of its guide, which set out Variant 1 and Variant 2 side by side on identical components and identical costs.

Printed in "Swiss Made Is an Arithmetic Test. The Same Watch Scores 75% or 87%, Legally."

Traced #

The unavailable-materials exclusion does not apply to the 50% parts-value test for movements

Stated by FH's guide, which says the effect is to prevent a weakening of the Swiss made concept. This is the provision that most rebuts a cynical reading of the label and it is why the piece does not offer one.

Printed in "Swiss Made Is an Arithmetic Test. The Same Watch Scores 75% or 87%, Legally."

Traced #

Thirty categories of material are on the industry's list of things unavailable in Switzerland, including 316-type steel and grade 2 and 5 titanium at semi-finished stage

Read off FH's own list, status 18 September 2025. The steel entries are numbered 18 and 19 at 90%; the titanium entries 22 and 23 at 95%.

Printed in "Swiss Made Is an Arithmetic Test. The Same Watch Scores 75% or 87%, Legally."

Traced #

Uncompensated silicon flexes enough with temperature to drift a watch by about 155 seconds a day, against a watchmaking requirement of around 8

CSEM's own 2002 patent states the figure directly: "the thermal drift of a spiral spring made of silicon is thus about 155 seconds/day... incompatible with watchmaking requirements which are of the order of 8 seconds/day." It is also why no commercial silicon hairspring ships as raw silicon — every one carries a compensating oxide layer.

Printed in Silicon Hairsprings, Plainly

Traced #

WatchCharts computes its daily "market price" from a 30-day window, using the transaction price if known, the last asking price otherwise, and, where transactions are scarce, prices of unsold listings

The company's own "About our Price Guide" page, archived 24 April 2024: "We use the transaction price if it is known, or the last asking price otherwise. In cases where an insufficient number of transactions exist, we may also supplement the data with prices of unsold listings." The live page could not be independently re-checked; see the sourcing note in the text.

Printed in The Secondary Watch Market Is a $10.5 Billion Number. $680 Million of It Came With a Receipt.

Traced #

Yema's mainplates and bridges are made in-house and its regulating organs are Swiss, with all caliber components made within 72km of Morteau

Stated by Yema itself, in those terms, on its in-house calibers page. Quoted rather than characterised, because the precision is the point.

Printed in Yema Tells You Exactly What "In-House" Means. Almost Nobody Else Does.