The OG, Phipe Defor has taken on a new apprentice, Daniela, who also happens to be his 24year-old daughter. >> I really have a kind of deep relationship with my father. And so I was super curious about all the time he was spending in the workshop.You see the magic operating is in the front of his bench working on something that you cannot even see without a loop. And uh you just listen a little. [snorts] I made it.[laughter] >> Sigh of relief. >> Yes. And then you see the the heart of of the the watch beati ...

We all know that what we do is totally pointless. What do you mean. >> A mechanical watch is totally pointless today.It was pointless in 1972 when the quartz era arrived. And so anybody who tries to tell you yes, a mechanical watch has a point except for emotional art and artisanship. I don't think so.364 components in the movement, 92 components in the case. Buser's company has grown to the point he recently sold a 25% share to the Chanel brand, but it's small enough he still interviews clients before sell ...

In the 70s and 80s, Swiss watchmaking was decimated by the so-called quartz crisis when Japan in particular began pedalling more accurate watches for a fraction of the price run on a quartz crystal and a battery. The Swiss response watch always different, always new. They launched the quartz powered Swatchwatch, plastic and chic, but then doubled down on the high-end mechanical market, adopting Alpine high pricing and limited supply as business model.>> It's only 1.75% mm thick. >> At Rishard Meal, we tried ...

Antoine Lutra turned his family barn into a watchmaking studio. That was in 1833. Now it houses the global brand Ja Lutra.The work is segmented. Each employee tasked with one of 180 watchmaking crafts. Adjusting springs, sure, but also >> turning caterpillar secretions into glue for jewel bearings.This artisan reproduces masterpiece paintings on the back of the watch with a onethread brush. The back of the watch is prime real estate at Jja Lutra, best known for a model called the Reverso. Originally made fo ...

Venture an hour north of Geneva and wedged between ridges of the Jura Mountains, baby cousins of the Alps, you'll enter the Valley Deju. Don't be lulled by the green meadows and grazing cows. This is a global manufacturing hub.Has been since the 17th century when local farmers needed a side hustle during harsh winters and started tinkering with big hands and little hands. Bigname watch brands came of age here as did solo master craftsman like Philipe Dufour. >> When I arrive the morning here, light my pipe, ...

60 Minutes overtime. >> What we create has to be reliable for decades, hundreds of years. You buy a mechanical time piece, your great great great great great grandchildren will be able to enjoy it.There is a responsibility, but at the same time, as a creator, don't take yourself too seriously. Our story for 60 minutes this week is about handcrafted Swiss mechanical watches. Max Buser is like a mad scientist who has diverted his uh creativity to watch making.His watches look like pieces of art that just so h ...

Group 1: Tariff Policy Changes - President Trump announced significant tariff cuts on various food items, including beef, coffee, and tropical fruit, to combat rising grocery prices and ease inflation concerns [2][3] - The removal of tariffs has been met with mixed reactions, with companies like Starbucks and Hormel Foods potentially benefiting from lower input costs [3][4] - The market's immediate response to the tariff rollbacks was characterized by volatility, with the Dow Jones Industrial Average dropping nearly 800 points (1.7%) on November 13, 2025, and continuing to decline the following day [4] Group 2: International Trade Agreements - The U.S. reached a significant trade deal with Switzerland, reducing tariffs on Swiss goods from 39% to 15%, with Swiss companies pledging to invest $200 billion in the U.S. by 2028 [5][6] - Uzbekistan committed to purchasing and investing $35 billion over the next three years, potentially exceeding $100 billion in the next decade, across various U.S. sectors [6][7] - These trade agreements are aimed at increasing economic engagement and countering the influences of Russia and China [7] Group 3: Market Reactions and Economic Impact - Analysts have noted that Trump's tariffs were labeled as the largest U.S. tax increase as a percentage of GDP since 1993, projecting a 0.6% reduction in U.S. GDP [9][10] - The market experienced significant turmoil in early 2025, with the Dow suffering losses exceeding 1,500 points following the announcement of new tariffs [10][11] - The "on-again, off-again" approach to trade policy has left analysts scrambling, with some suggesting that a cessation of certain tariffs could materially upgrade growth forecasts for the second half of 2025 [11][12]

Trade Agreement Overview - The US has agreed to cut tariffs on Switzerland from 39% to 15% as part of a new trade pact, which aims to improve economic ties and support Swiss exporters [1][2] - The agreement includes a "non-binding memorandum of understanding" following bilateral talks and lobbying by Swiss firms [1][2] Tariff and Quota Details - The new deal aligns US tariffs on Switzerland with those on the European Union, providing Swiss exporters with competitive parity [3] - Switzerland will reciprocate by reducing tariffs on a range of US products, including industrial goods, fish, seafood, and non-sensitive agricultural products [3] - Specific quotas for US goods exported to Switzerland will be established, including 500 tonnes of beef, 1,000 tonnes of bison meat, and 1,500 tonnes of poultry [3] Implementation and Economic Impact - The implementation date for the new tariffs and quotas is yet to be finalized, with coordination between the US and Switzerland to ensure simultaneous customs duty reductions [4][5] - The deal is expected to encourage Swiss companies to invest approximately $200 billion in the US by the end of 2028 [6] Corporate Engagement - Leading Swiss executives met with the US President to finalize the deal, indicating strong corporate interest in the new trade relationship [6] - Rolex, a prominent Swiss luxury watchmaker, has engaged with the US administration, highlighting the personal interactions between corporate leaders and government officials [7][8]

Core Points - The U.S. and Switzerland have reached a trade agreement to lower tariffs on Swiss goods from 39% to 15% [1] - Switzerland is committed to investing $200 billion in the U.S. during Trump's second presidency, including $70 billion next year [2] - The total goods trade between the U.S. and Switzerland was estimated at $88.4 billion in 2024, with Swiss watch exports to the U.S. growing significantly [4] Trade Agreement Details - The agreement aims to reduce tariffs on luxury exports from Switzerland, which include jewelry, coffee, and chocolate [1] - U.S. trade representative Jamieson Greer indicated that the agreement is "essentially" finalized [1][3] Investment Commitments - Switzerland plans to invest heavily in U.S. sectors such as pharmaceuticals and gold smelting, with Roche pledging $50 billion [2] - The commitment includes purchasing more Boeing commercial planes [2] Impact on Goods Trade - Swiss exports to the U.S. have been growing at a rate of 14% annually since 2019, significantly outpacing the global average [4] - Swiss watch exports surged 18.2% overall, with shipments to the U.S. increasing by 149% following the announcement of tariffs [4]

Core Insights - Christie's Rare Watches auction will feature two significant Rolex watches with notable provenance, scheduled for November 10 in Geneva [3][7] - The first watch is a circa 1970 Rolex Daytona reference 6262 with a "Tiffany & Co." inscription, estimated between $130,000 and $250,000 [3][4] - The second watch is a 1967 Rolex Daytona reference 6239, nicknamed "The Doctor," with an estimate of $510,000 to $760,000 [7] Group 1: Rolex Daytona Reference 6262 - The watch was purchased by actor George Peppard in 1972 as a gift for his son, featuring an inscription on the caseback [4] - Fewer than five examples of the reference 6262 with the Tiffany & Co. signature are believed to exist today, making it extremely rare [4][5] - The watch is double signed with both the Rolex and Tiffany & Co. signatures, enhancing its rarity among steel reference 6262 models [5] Group 2: Rolex Daytona Reference 6239 - The 1967 Rolex Daytona reference 6239 is known as "The Doctor" due to its pulsations dial, designed for medical professionals [7][8] - This specific configuration of the watch has not been seen at auction for a decade, with only a handful of examples believed to exist [7] - The watch is described as being in "superb condition" and features a unique aesthetic compared to standard models [9]