I'm not suggesting Parnis has charted a new course intentionally; this year, most watch companies will jockey for a place inline due to the global shortage of quality watch movements . The result? Watchmakers will adapt their designs to available movements like Miyota. It's a game changer.
Shortage of Watch Movements
For the last 75 years, Swiss companies provided movements to the rest of the world. It worked well with each company competing for global business. Beginning in 1983, competition among them almost ceased as the government and banks rolled up failing watch factories into one manufacturer known as Ebauches, SA and later renamed ETA, SA. The Swiss government intervention amounted to a consolidation with a single maker supplying everyone.
Imagine if only one company made windshields for every car in Europe. If a fictitious firm called EuCars bought the windshield maker and refused to supply anyone but themselves, other car manufacturers would have to scramble for suppliers probably from Asia. That's the situation with watch movements. ETA sold movements to everyone, but today, reserves all production for their own brands.
Parnis had a special relationship with a Seagull supplier. Parnis Seagull movements are factory refurbished. I've never seen that disclosed.
Seagull is one of the three global suppliers of Swiss quality watch movements outside of ETA. Two years ago, Seagull became part of a new holding company with no special relationships. With demand from larger companies for Seagull movements, Parnis may no longer have a chair at the table. A strong, increasing demand for Seagull movements in Europe exists, especially in Germany.
In addition to Germany's demand, Swiss companies, like Claro, purchase Seagull parts and assemble them in Switzerland. The ST-2130 sells at a premium since it's as a clone of ETA's workhorse 2824-2 movement.
To Whom Do They Turn?
Citizen Watch Company of Japan (Miyota) owns the the next largest maker of movements in China after Zhuhai SMH Watchmaking Co., Ltd. (ETA China).
Miyota sells to Germany, but doesn't sell to the Swiss. In the vacuum left by ETA, Seagull, Citizen/Miyota became the de facto source of movements for new Asian watchmakers including Parnis. Why? They have the most modern facilities in China and have been there since 1988.
Parnis has also used some Hangzhou movements in watches that exclusively used Seagull in the past. Hangzhou, owned by PTS of Hong Kong, makes drop in replacements for Parnis cases. PTS, however, does not produce the turnover of Seagull or Citizen.
Transitioning Period
If you want one of those beautiful Parnis Portuguese or Marini Militare watches, ask a seller, "who makes their movements? For example, Seagull ST 3600's without the swan-neck regulator have been replaced with the Hangzhou 6497.
Below, you can see three movements. The one on the left is a Seagull ST 3600. It's a world class movement parts exchangeable with an ETA 6597. In the middle, you can see same watch without the swan-neck - still a ST-3600.
On the right you can see the Hangzhou. This movement drops into Parnis cases as a replacement. You can spot it easily. Hangzhou's logo sits on one of the bridges. I see this movement in older Parnis watches.
Is the Hangzhou a good replacement for the Seagull? It's a good replacement, but it's not a Seagull. If you have a chance to buy a Parnis with a Seagull movement, then buy it.
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False Rumors About Parnis
Parnis is not a brand made by a small watch assembler/manufacturer in Guanzhou, China. Unlike other companies in the region, Parnis does have a global trading strategy. They sell to distributors, who retail Parnis watches.
One of their distributors in Germany has written,
The manufacturer of Parnis watches keeps a low profile. They don't maintain a website and consequently market through distributors like me. They hardly speak a word of English.That's not our experience.
For some unknown reason, rumor has it that several manufacturers use the Parnis label. According to the rumor no Parnis factory exists. That's not true. Parnis is a trademark owned by Xiao Jianhong of Shenzhen. The factory operates in Guanzhou.
OK. What's Going On?
Many collectors, myself included, buy Parnis watches, because they rival many Swiss brands. Instead of paying $1250- $2000 for a Swiss Watch, I find a similar quality watch for about 10%.
To write it another way, I can strap a Chronometer on my arm for 10% of what I paid for a high-end Swiss Made "Regulator Auto". Why wouldn't someone buy a Parnis? We're talking apples to apples - not cheap Chinese watches to high-end Swatch brands.
You think all Swiss Made watches are made in Switzerland? Well, Zhuhai SMH Watchmaking Co., Ltd. (ETA China) furnishes movements and parts to their parent with watch cases made by another Swatch subsidiary in Thailand. They then label the product "Swiss Made". (That's like saying Swiss cheese is Swiss Made).
Racing to the Finish Line
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| Parnis with Miyota Quartz Movement |
On the left, is an example of a new Parnis with a Miyota quartz chronograph movement. It sells for a little more than the watch below - my Parnis with a Seagull 2540 mechanical: automatic.
The Parnis Models below have Seagull ST 25 movements, 316L Marine Grade Stainless Steel milled cases with Hardlex or hardened fronts and backs.
Keep these in mind as you shop for Parnis. Who knows how long dealers will have them in stock.
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