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MTF
[PuristS]
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PuristS In Conversation: Peter Speake-Marin

All photos by V.L. Kong.

PSM: Peter Speake-Marin

PPro: PuristSPro

Peter Speake-Marin has been a busy boy recently; he is literally "going around the world in 40 days" to meet partners, clients and investors. Peter has already visited a number of cities in China, Taiwan, Japan and Singapore; you can read about a social gathering in Singapore click here

But there was work involved too and Peter set aside some time to have a serious conversation with PuristSPro. As usual, his answers were candid and pragmatic.


 

Even before the "interview", I noted that he seemed calmer than the last time we met. I believe this was because a number of business issues and personal angst had been resolved or at least clarified in his mind. 

I could feel the energy as Peter spoke with revived vitality as a watchmaker, creator and businessman. This can only bode well for PuristS and horology buffs in future.

Calm and steady watchmaker hands: Which watch model is that?

Ostensibly, there are three main themes to convey during this world tour:

1) Progress of the '1 in 20' Collection

2) A new Collectors' Club for investors

3) Marin 1 production model hints

Other topics were mentioned "off the record" so we won't go into those for now. 


 

1 in 20 Collection

The 1 in 20 Collection is an issue of 20 watches (in total) using the first 20 pieces of the new SM2 base movement. The proceeds from this issue will be used to fund the regular production of the Marin 1 model also using PSM's own movement.

Each owner can specify the materials and design of the 1 in 20 watch. The choices so far have ranged from simple time-only designs to perpetual calendars. Theoretically, there could be 20 different watches but some design motifs are popular. Although there are 20 watches in the collection, they are not designated numerical serial codes thus nobody has precedence over another...

The dials have been either 4-part enamel or engraving or lacquer art.  Yes - you read that right - I did say 4-part enamel for that multi-layered look.  Some brands have been proud to show off their 2 or 3-part enamelled dials recently, and quite rightly so because those are excellent achievements.  PSM has said that 4-part enamel dials are so difficult to make and with high attrition rates because of the additive failure at each firing means that very few will be finished.....er....3 pieces?

Although Don Corson has been showing the different 1 in 20 pieces on this forum, we will put them all in one posting update soon.....watch this space.

Collectors' Club as first hinted at on this forum click here

PSM is raising CHF 1,000,000 by issuing shares in his company. The current valuation is CHF 2,500,000 before new issue and Mr & Mrs PSM are the current shareholders. There are three levels of new investment and apart from the share-holding in the company, there are other perks:

Level 1 investment entitles you to buy one PSM watch per annum at a massive discount.

Level 2 investment entitles you to buy two PSM watches per annum at a massive discount.

Level 3 investment entitles you to buy three PSM watches per annum at a massive discount.

There is no Level 4 investment because that would be enough to buy the whole company and PSM is NOT going to sell. 

This is actually a serious point because he does not want to be an employee again nor does he want to lose control of the Peter Speake-Marin brand or product vision like many of his predecessors viz Dubuis, Muller, Parmigiani, Others-We-Cannot-Name, etc...

I believe that the affirmation in his mind to reject offers to buy 'The Watch Workshop' is why PSM has found his inner watchmaker peace and is revitalised. Paradoxically, I think it was actually an easy decision to make, even if difficult to walk away from a pile of cash. The creative juices of a 'createur independent' cannot flow freely when neutered by a board of majority shareholders. It is pragmatic to raise enough cash to reach the next milestone and re-capitalise.

This forum is not the appropriate place to have a discussion about risk-adjusted investment strategy or financial details but as a rough guide, if you can buy a PSM watch, you can afford to be a Level 1 investor. If you can buy 2 PSM watches, you can afford Level 2 and so on.... 

To invest, please contact PSM directly at The Watch Workshop....er...he's travelling but Daniela Speake-Marin will answer. Or catch PSM when he visits your area; your local dealer should know when that is.

I must declare no personal fiscal interest in The Watch Workshop as per PuristSPro guidelines

From rough estimates, PSM expects the total offering to be subscribed by end-September if the uptake from the Asian tour continues in the other regions.

Marin 1

The Marin 1 regular production model should be similar to the simple time-only watch first seen in the 1 in 20 Collection. The latter can be seen on PSM's wrist in the photos below.

But first, its a case of "You check out mine whilst I check out yours" !

What is PSM inspectiing?

 
PuristSPro ABR has a 42mm diameter and 11mm height so that should give some scale to judge the 1 in 20

Please form two orderly lines here.......one each to purchase either of these Loved-by-PuristS watches!  

Height

Diameter

All the elements of PSM motifs are here.

Piccadilly case, Screwed fluted lugs, Conical fluted crown, PSM-Spade blued hands.

The Marin 1 production watches will be of similar outline but details to be finalised.

Layered enamel dial - close up

Layered enamel dial - closer


 

Layered enamel dial - closest

Layered enamel dial - right hander view

Crown and lugs on mirror-finished case

Lug detail

SM2 movement

The unique PSM rotor is the thing

See all those pointy concave bevels to polish?

Buckle detail

Regards,

MTF

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