What Does Your Watch Say About You?

As an indicator of one's status or taste -- or lack thereof -- watches have become the new shorthand. Since the Great Watch Revolution of the 1980s, when mechanical timepieces returned in force as a backlash against cheap-and-nasty quartz, and when vintage watches started to appear in auctions in greater numbers, awareness of the wristwatch has acquired a new significance.

Previously, anything more obscure than a Timex or an Accurist was appreciated only by cognoscenti. Watches were far too small to be in-your-face indicators of serious wealth -- not like the Ferrari 212 Barchetta or Maserati 300S that a Porfirio Rubirosa or a Roberto Rossellini might have parked in front of Monaco's Hotel de Paris.

Take Rolex. While everyone now recognizes the name, back in the 1950s and 1960s the brand was known almost exclusively by the pilots and professional divers who actually needed the functions the watches offered. Today, watch literacy has soared and the hugely popular television series, Mad Men, even uses watches to trace the ascent of hero Don Draper. By Series Three, Draper is seen wearing a Rolex Explorer.

As for brands such as Patek Philippe, Audemars Piguet, Vacheron Constantin and even the ineffably famous and recognizable Cartier, they were only understood by aristocrats and the gentry. Yes, there were exceptions: Duke Ellington, Miles Davis, Gene Autry, Howard Hughes (allegedly) and other iconic celebs wore Patek Philippes. Marlon Brando and Che Guevara owned Rolexes, while Steve McQueen foreshadowed the modern watch fanatic with his Rolexes and TAG Heuers. Now, the red carpet at the Oscars is a watch-lover's orgy. But this is not to suggest that populism nor egalitarianism have overtaken the prestigious image such watches impart. What has changed is that now everyone from the cab driver to the doorman, to the dentist to the divorce lawyer -- especially the divorce lawyer -- knows the difference between fine timepieces and those sold to mere mortals.

As a result, one's choice of watch is as important as the quality of the handbag, the cut of one's suit, the appropriateness of a tie's pattern, the height of the heel. If such things matter, you might consider watches fitting both your personality and the occasion.

The Italians advise three timepieces at the very least: One that suits your occupation, a dress watch for sober, formal or evening wear, and a robust watch for sport or holiday. And as for finding a watch to suit your personality, or even the one you wish to project, read on. And if you are still in doubt, just buy a Rolex Air-King.

The Fashion Icon

Dior VIII (from GBP 3,050)

John Galliano's psychotic outbreak notwithstanding, Dior is on a roll, especially with its watches. It is part of a welcome trend wherein the fashion and jewelry houses making watches have decided to offer something worthy of an illustrious name, rather than put their logos on sub-par swill sold through shopping centre jewelry stores.

Of course, in fashion, the name is everything, and The Fashion Icon will have her own preferences: For Dior, you could also read Chanel, Chaumet, Cartier (the absolute perennial favourite), Graff, Harry Winston or another great label making serious timepieces. But Dior VIII, a family of watches with heavily faceted bracelets and bezels, available with or without diamonds, in two sizes (33mm and 38mm), and with automatic or quartz movements, offers something else dear to Fashion Icons: It's so new that it's tomorrow.

The Traveller

Vogard Timezoner (from GBP 3,500)

What distinguishes The Traveller's timekeeping needs from those whose forays abroad are less frequent? For one afflicted with wanderlust, nothing less than a 'world-timer' will suffice, for it allows The Traveller to know the time, at a glance, in any time zone on the planet. And while nearly every watch manufacturer produces a wristwatch able to show the time in two or more zones, Vogard makes nothing but world-timers.

Two features in particular make the Vogard so appealing. The first is the watch's patented method of changing the home or destination time so quickly and easily. The second is the option for ordering the watch with any of 24 cities or locations engraved on the bezel.

The Banker

Patek Philippe Calatrava (from £12,980)
Given the current public mood, the banker should err toward the style of his pre-1980s forebears: That of sobriety. Whereas once bankers and other executives in the financial sector were encouraged to 'power dress'. To do so today is inadvisable. Bankers now rate somewhere between al Qaeda and lawyers in the public eye. In these straitened times, The Banker must possess an air of discretion, of solidity, of dependability. To achieve this, there is one, and only one watch: The Patek Philippe Calatrava. In continuous production since 1932, born in the Depression, as it were, the Calatrava combines no-nonsense functionality with elegance. To the untrained eye, it is anonymous. To the individual who knows, it says that the wearer prefers Romanée-Conti to, well, anything else.

The Entrepreneur

Richard Mille RM038 (£380,000)

Unlike The Banker, The Entrepreneur has to inspire potential investors, and nothing suggests pending success like existing success. Better still, The Entrepreneur knows the value of a personal detail, such as a watch, for breaking the ice. Amongst the high-fliers in an exclusive bar in Tsim Sha Tsui, in the nose of the 747 or at the links at St. Andrews, a bold watch speaks volumes.

You don't need to know anything about watches to appreciate that a Richard Mille timepiece is something out of the ordinary.

This particular Richard Mille oozes high tech. It is a tourbillon made to withstand the shocks and abuses of The Entrepreneur's most important selling tool: A round of golf.

Developed for Bubba Watson, to wear on the links, the RM038 follows on from another Richard Mille watch subjected to cruel and inhuman punishment: Rafael Nadal wore one while winning Wimbledon.

The Bohemian

Van Cleef & Arpels (£77,500)

Inspiration? The free spirit with limitless imagination. Execution? A blend of techniques, including champlevé enamel and mother-of-pearl inlay, as mastered by one of the world's greatest jewelry houses. The 19th Century writings of Jules Verne, the father of science fiction, have stirred Van Cleef & Arpels to create a series of limited edition timepieces with dials illustrating four of his novels, but most notably, Five Weeks In A Balloon.

Bohos love whimsy. Is there any mode of transport more evocative of the so-called century of Bohemianism than a hot-air balloon?

At the dial's centre, the balloon rises slowly above Zanzibar. What better than its anchor and a seagull to act as retrograde hands for minutes and hours?

A white gold case, a Jaeger-LeCoultre 846 mechanical movement, severely limited production this is the watch of an individualist.

The Daredevil

Panerai Luminor Base Logo (£3,100)

As the name suggests, The Daredevil is fearless, probably to the point of absurdity. No challenge is too threatening, no risk too great. Hang gliding, surfing, off-roading, snowboarding think Tom Cruise rock climbing at the opening of Mission Impossible 2.

The watch to withstand all that has to be either incredibly cheap-and-cheerful (Casio sells millions of G-Shocks for good reason), or over-engineered and, well, scary.

Designed for the Italian Navy's underwater saboteurs in the 1930s, Panerai's Luminor re-surfaced to become THE cult diving watch of the 1990s and onward. Its patron saint? Sylvester Stallone, who wore them in a number of his more macho films. Not only that, but he gave one to Arnie, who featured it in Eraser. Go on: Try breaking one.
The Spy

Bremont Supermarine 500 (from £2,995)

Imaginative James Bond inspired watches with built-in lasers, homing devices, suspension cables, magnets and the like are, alas, pure fiction. And, as any real spy would not want to call attention to his or her presence, anything too large or too flashy would call attention to the wearer. Equally, a spy's watch must be dependable, functional, accurate to the second and able to serve a number of roles in difficult situations. So, if the Bremont Supermarine 500 is rugged enough for Bear Grylls, precise enough for chronometer certification, legible underwater, secure to 500m and resistant to magnetism, it should survive Messrs Bond, Bauer, Bourne and the like. And Bond himself would appreciate one other feature: It's British.

Asia's Banking Bonanza: Resource Deals

Deals involving natural-resource companies helped drive investment-banking revenues for the Asia-Pacific region to a record in the first quarter, despite a decline in share sales, another key revenue source.

Underscoring the depth of Asia's interest in acquiring mining, energy and other resources, China's Minmetals Resources Ltd. said Monday it intends to offer 6.3 billion Canadian dollars (US$6.5 billion) for Australian-based copper-miner Equinox Minerals Ltd. More deals look likely.

'Given the rise in commodities prices, we see the natural-resources sector leading the way [in deal-making]. National oil companies are really scouring the market for opportunities and we think they will find several in the coming months,' said Rob Sivitilli, head of mergers and acquisitions for Southeast Asia at J.P. Morgan Chase.

U.K. oil giant BP PLC's acquisition of oil and natural-gas assets controlled by India's Reliance Industries Ltd. for up to $9 billion, depending on the success of future exploration, is one of the largest M&A deals in the region so far this year, according to data provider Dealogic.

Investment banks generated $3.8 billion in revenue across the Asia-Pacific region from M&A, syndicated loans and equity and bond deals in the first three months of the year, up from $3.5 billion in the same period a year earlier, according to Dealogic estimates. Excluding Japan, revenue was $3.0 billion, up 35% from the $2.2 billion a year earlier and a record for the first quarter of a year.

While M&A was strong, share sales, including initial public offerings, fell. So-called equity-capital-market deals around the region fell to $66.2 billion from $77.5 billion a year earlier, hit by a 53% slide in Japanese deals to $12.5 billion from $26.6 billion a year ago, according to Dealogic. Several deals were withdrawn in the wake of the March 11 earthquake in Japan, including real-estate investment trust United Urban Investment Corp.'s plans to raise about 65 billion yen (about $750 million).

Excluding Japanese share sales, volume stood at $53.7 billion across 518 deals, up 5.5% from a year earlier. The region's biggest share deal for the quarter was Hutchison Port Holdings Trust's $5.4 billion IPO in Singapore.

Bankers said the first quarter seemed relatively quiet after the busy autumn of 2010. One reason for the drop in activity was that the flood of money from global investors that flowed into Asia last year streamed back into U.S. and European markets because of fear inflation was rising in countries such as Indonesia and China.

This year through March 30, investors pulled a net $5.9 billion from the Asia-Pacific region, although capital flowed into the region in the final week of the period, according to data from EFPR Global.

Bankers hope the flow of cash picks up enough momentum to support the growing band of global brand names seeking Hong Kong listings.

Headline deals expected in the coming months include offerings from the Italian fashion house Prada SpA and the Swiss commodities company Glencore International AG.

Steven Barg, Goldman Sachs Group Inc.'s co-head of equity capital markets for Asia excluding Japan, said 2011 should rival 2010 in terms of IPO volume, with most deals coming towards the second half of the year. Goldman was the busiest firm in the region excluding Japan during the first quarter measured by the value of equity-capital-markets deals.

In anticipation of a flood of deals later this year, UBS AG is raising its investment-banking staffing for the Asia-Pacific region by 20% this year, said Matthew Hanning, the bank's regional head of investment banking. The bulk of the new hires will work on share sales for Chinese companies. In volume terms, equity-capital-markets business from Chinese companies reached the highest level for any first quarter on record. A total of $28.1 billion was raised via 150 deals, up 30% from a year earlier.

UBS remained the top-ranked bank in terms of investment banking revenue from M&A, syndicated loans and equity and bond deals for the Asia-Pacific region excluding Japan, according to data from Dealogic.

The Asia-Pacific area made up about 22% of revenues for banks globally. Mr. Hanning calculated that the region's share of the global revenue pie has been growing at about six times the global average, attracting more banks to the region.

'I think there must be nine or 10 banks that see being within the top three in Asia as a core part of their strategy,' he said.