It may seem like owning a private plane is the pinnacle of personal luxury, but many of those who can afford to do so are actually opting out.
Over the past few years, fractional private jets have become more appealing to the ultra-rich, Bloomberg reported on Wednesday. Operators of such jets saw a 5.2 percent increase in flights this year through September, according to the industry analysis firm WingX. And in the past four years, the growth of fractional flights has outpaced that of both charter flights and corporate-owned jets. “Some people moved up into fractional programs, some people moved down,” Richard Koe, the managing director of WingX, told Bloomberg. “The result is you’ve got these operators doing better than ever.”
What Koe means is that some wealthy travelers tried out charter flights during the pandemic, and now they’ve upgraded to fractional ownership, which gives them a bit more access to and flexibility with flights. Meanwhile, some business travelers are looking for more privacy, and they’ve slightly downgraded to fractional jets as a way to avoid scrutiny by those who track corporate jets. The fractional ownership model allows someone to buy as little as 1/16th of a plane in exchange for flying time. For example, a mid-size Challenger 3500 may charge $2.7 million for that share and offer 50 hours of flight time a year. On top of that, there would be a fee of $32,000 per month and a cost of $9,500 per hour of flying, Nick Copley, the president of the luxury website Sherpa Report, told Bloomberg.
While that may be a steep total for some, the companies behind fractional jets deal with all the extraneous needs of owning a plane, including pilots, maintenance, insurance, fuel, and hangar space. With direct ownership, those costs could range from $1.1 million to $6.3 million, according to Vault Aviation data cited by Bloomberg. During the pandemic, in particular, many travelers opted for private travel as a way to avoid crowded airports and fly at their leisure. While demand for some fractional companies has dipped since the height of the pandemic, they’re still seeing an increase in interest. In fact, groups like Flexjet and NetJets have waitlists for people looking to grab a piece of the plane.
“It’s like trying to get into a country club and they tell you, ‘Sorry, we have a waiting list,’” Kenn Ricci, who owns Flexjet and other private-plane companies, told Bloomberg. “Well, that’s the club you want to get into.” And once you make it in, you can say bye-bye to long security lines and middling airport food.
Few watch enthusiasts would be unfamiliar with Jaeger-LeCoultre and its enduring Reverso collection. Since 1931, the Reverso has been celebrated as one of the great dress watches of the 20th century.
In recent years, the watch has gone from strength to strength—in 2023 alone, we received the new Reverso Tribute Chronograph, the impressive Duoface Tourbillon, and the slimmer Reverso Tribute Small Seconds—capturing the imagination of casual observers, collectors, and those looking to scale the horological ladder.
It is also part of the cultural conversation thanks to exceptional branding experiences, such as ‘Reverso Stories’, a travelling experiential trunk show. Jaeger-LeCoultre is again summoning its movable experience to Australia, this time in the heart of Sydney’s CBD. For a limited time, eager fans can glimpse the Reverso collection up close via a multi-sensory exhibition tracing the history of this remarkable timepiece.
Presented in four chapters ( Icon, Style and design, Innovation, and Craftsmanship), the Reverso story will be told through the lens of Jaeger-LeCoultre’s expert watchmakers, who combine nine decades of craftsmanship, inventiveness, and design into one interactive experience.
As a bonus, guests will be privy to a large-scale art installation by Korean artist Yiyun Kang—commissioned by the Maison under its ‘Made of Makers’ programme—and the launch of three exceptional new Reverso timepieces, yet to be revealed. These watches will showcase skills such as enamelling, gold-leaf paillonage, and gem-setting, mastered by the manufacturer’s in-house Métiers Rares (Rare Handcrafts) atelier.
Completing the immersion into the spirit of Art Deco, guests will be able to enjoy a complementary refreshment post-experience at the pop-up Jaeger-LeCoultre 1931 Café.
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‘Reverso Stories’ will be held in Sydney’s Martin Place from 10–19 May 2024. It will be open daily from 9 a.m. to 7 p.m. (and 5 p.m. on Sundays) and free to the public. Visitors are welcome to book online here or register upon arrival.
Over the last few years, watch pundits have predicted the return of the eccentric TAG Heuer Formula 1, in some shape or form. It was all but confirmed when TAG Heuer’s heritage director, Nicholas Biebuyck, teased a slew of vintage models on his Instagram account in the aftermath of last year’s Watches & Wonders 2023 in Geneva. And when speaking with Frédéric Arnault at last year’s trade fair, the former CEO asked me directly if the brand were to relaunch its legacy Formula 1 collection, loved by collectors globally, how should they go about it?
My answer to the baited entreaty definitely didn’t mention a collaboration with Ronnie Fieg of Kith, one of the world’s biggest streetwear fashion labels. Still, here we are: the TAG Heuer Formula 1 is officially back and as colourful as ever.
As the watch industry enters its hype era—in recent years, we’ve seen MoonSwatches, Scuba Fifty Fathoms, and John Mayer G-Shocks—the new Formula 1 x Kith collaboration might be the coolest yet.
Here’s the lowdown: overnight, TAG Heuer, together with Kith, took to socials to unveil a special, limited-edition collection of Formula 1 timepieces, inspired by the original collection from the 1980s. There are 10 new watches, all limited, with some designed on a stainless steel bracelet and some on an upgraded rubber strap; both options nod to the originals.
Seven are exclusive to Kith and its global stores (New York, Los Angeles, Miami, Hawaii, Tokyo, Toronto, and Paris, to be specific), and are made in an abundance of colours. Two are exclusive to TAG Heuer; and one is “shared” between TAG Heuer and Kith—this is a highlight of the collection, in our opinion. A faithful play on the original composite quartz watch from 1986, this model, limited to just 1,350 pieces globally, features the classic black bezel with red accents, a stainless steel bracelet, and that creamy eggshell dial, in all of its vintage-inspired glory. There’s no doubt that this particular model will present as pure nostalgia for those old enough to remember when the original TAG Heuer Formula 1 made its debut.
Of course, throughout the collection, Fieg’s design cues are punctuated: the “TAG” is replaced with “Kith,” forming a contentious new brand name for this specific release, as well as Kith’s slogan, “Just Us.”
Collectors and purists alike will appreciate the dedication to the original Formula 1 collection: features like the 35mm Arnite cases—sourced from the original 80s-era supplier—the form hour hand, a triangle with a dot inside at 12 o’clock, indices that alternate every quarter between shields and dots, and a contrasting minuterie, are all welcomed design specs that make this collaboration so great.
Every TAG Heuer Formula 1 | Kith timepiece will be presented in an eye-catching box that complements the fun and colour theme of Formula 1 but drives home the premium status of this collaboration. On that note, at $2,200 a piece, this isn’t exactly an approachable quartz watch but reflects the exclusive nature of Fieg’s Kith brand and the pieces he designs (largely limited-edition).
So, what do we think? It’s important not to understate the significance of the arrival of the TAG Heuer Formula 1 in 1986, in what would prove integral in setting up the brand for success throughout the 90’s—it was the very first watch collection to have “TAG Heuer” branding, after all—but also in helping to establish a new generation of watch consumer. Like Fieg, many millennial enthusiasts will recall their sentimental ties with the Formula 1, often their first timepiece in their horological journey.
This is as faithful of a reissue as we’ll get from TAG Heuer right now, and budding watch fans should be pleased with the result. To TAG Heuer’s credit, a great deal of research has gone into perfecting and replicating this iconic collection’s proportions, materials, and aesthetic for the modern-day consumer. Sure, it would have been nice to see a full lume dial, a distinguishing feature on some of the original pieces—why this wasn’t done is lost on me—and perhaps a more approachable price point, but there’s no doubt these will become an instant hit in the days to come.
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The TAG Heuer Formula 1 | Kith collection will be available on Friday, May 3rd, exclusively in-store at select TAG Heuer and Kith locations in Miami, and available starting Monday, May 6th, at select TAG Heuer boutiques, all Kith shops, and online at Kith.com. To see the full collection, visit tagheuer.com
Aston Martin will forever be associated with James Bond, ever since everyone’s favourite spy took delivery of his signature silver DB5 in the 1964 film Goldfinger. But there’s a lot more to the history of this famed British sports car brand beyond its association with the fictional British Secret Service agent.
Let’s dive into the long and colourful history of Aston Martin.
The origin of the Aston Martin name
The company that would become Aston Martin started out as a car dealership. In 1912, Englishmen Robert Bamford and Lionel Martin partnered to sell cars, but soon after they decided to build their own models. Their first prototype debuted in 1915, named in honour of Martin, a racing driver, and his favourite racing venue, Aston Hills. Thus, the name Aston Martin was born.
A speed-demon co-founder banned from driving
Aston Martin co-founder Lionel Martin wasn’t just a keen racing driver—he was an all-out speed demon. As a student, Martin won numerous gruelling bicycle racing records, including riding nearly the full width of England in one 22-hour stretch. He competed in motorcycle and sidecar races and automotive hillclimb competitions. It seems he also brought that need for speed to the public roadways: In 1909, having neglected to pay a previous speeding fine, Martin was caught driving 41.5 km/ph in London and was banned from driving for two years—during which he set yet another cross-country bicycle record.
A tractor company takes over
The years after World War I were tumultuous for Aston Martin, with financial difficulties and numerous takeovers. In 1947, Aston Martin went up for sale and was purchased by David Brown Limited, a company that specialised in farm tractors and industrial gears. Sir David Brown, grandson of the company’s founder, was a lifelong car enthusiast and racer, having built his own competition cars while working as an engineer at the family company. The first car built by Aston Martin after this takeover was called the DB1, named after the tractor company (and the man) that had saved the carmaker.
An indirect connection to Bentley
Around the same time that Sir David Brown took over Aston Martin, he purchased another struggling British carmaker, Lagonda. The company was developing a revolutionary twin-cam six-cylinder engine called the LB6, and Sir David wanted the engine for his new line of Aston Martin sports cars. The Lagonda engine had been designed by none other than W.O. Bentley—the man who co-founded Bentley Motors, who had long since been pushed out of the company bearing his name.
The history of the DB Series
Aston Martin built seven vehicles named in honour of owner Sir David Brown: The DB1, DB2, DB3, DB4, DB5, DB6, and the combo-breaker DBS all bore Sir David’s initials. In 1972, Sir David sold the car company, and the new owners ended the DB series of vehicles, but the name was revived in 1993 with the DB7 in honour of Sir David—who himself was given an honorary position at the company that same year.
Bond, James Bond
Of course, the most famous Aston Martin of them all is the DB5. Just over 1,000 examples were built between 1963 and 1965, but millions worldwide know this as the James Bond car. In the books, author Ian Fleming had specified an earlier Aston Martin DB Mark III as Bond’s car. Still, the DB5 was introduced in the 1964 Bond film Goldfinger, equipped with gadgets including machine guns, smoke screens, oil slicks, an ejector seat, and rotating license plates. Bond has driven several Aston Martin models over the years, including a V8 Vantage, a V12 Vanquish, and two DBS models, but the original DB5 will always be considered the quintessential Bond car.
The angular years
Today, the Aston Martin badge is most closely associated with swooping, evocatively curvy car designs, but in the 1970s the company was obsessed with angular, wedge-shaped designs. The trend began in 1976 with the Aston Martin Lagonda, a shockingly unconventional four-door luxury sedan with “folded-paper” body styling and the world’s first all-digital instrument panel. The Lagonda’s styling was further evolved in 1979 with the Bulldog, a radical concept car with gullwing doors and a sharply pointed nose. The Bulldog was meant to become the fastest road car on earth, but the project was abandoned before production could begin.
For Bond’s eyes only
While most of James Bond’s Aston Martins have been commercially available to anyone who could afford one, the DB10 seen in the 2015 film Spectre was exclusive to 007. As Aston Martin executive Marek Reichman explained to Variety, director Sam Mendes, producer Barbara Broccoli, and Bond star Daniel Craig were touring Aston Martin’s design studios when they saw a concept sketch on the wall. The Bond team insisted that this should be 007’s next car, and Aston Martin spent the next six months furiously working to turn the drawing into a real-world car. The DB10 was unveiled during the launch of the film Spectre, and eight of the 10 examples built were featured in the movie, with the remaining two used for promotional appearances.
Visiting the Floating City just got a bit more expensive.
Venice is officially the first metropolis in the world to start implementing a day-trip fee in an effort to help the Italian hot spot combat overtourism during peak season, The Associated Press reported. The new program, which went into effect, requires travellers to cough up roughly €5 (about $AUD8.50) per person before they can explore the city’s canals and historic sites. Back in January, Venice also announced that starting in June, it would cap the size of tourist groups to 25 people and prohibit loudspeakers in the city centre and the islands of Murano, Burano, and Torcello.
“We need to find a new balance between the tourists and residents,’ Simone Venturini, the city’s top tourism official, told AP News. “We need to safeguard the spaces of the residents, of course, and we need to discourage the arrival of day-trippers on some particular days.”
During this trial phase, the fee only applies to the 29 days deemed the busiest—between April 25 and July 14—and tickets will remain valid from 8:30 am to 4 pm. Visitors under 14 years of age will be allowed in free of charge in addition to guests with hotel reservations. However, the latter must apply online beforehand to request an exemption. Day-trippers can also pre-pay for tickets online via the city’s official tourism site or snap them up in person at the Santa Lucia train station.
“With courage and great humility, we are introducing this system because we want to give a future to Venice and leave this heritage of humanity to future generations,” Venice Mayor Luigi Brugnaro said in a statement on X (formerly known as Twitter) regarding the city’s much-talked-about entry fee.
Despite the mayor’s backing, it’s apparent that residents weren’t totally pleased with the program. The regulation led to protests and riots outside of the train station, The Independent reported. “We are against this measure because it will do nothing to stop overtourism,” resident Cristina Romieri told the outlet. “Moreover, it is such a complex regulation with so many exceptions that it will also be difficult to enforce it.”
While Venice is the first city to carry out the new day-tripper fee, several other European locales have introduced or raised tourist taxes to fend off large crowds and boost the local economy. Most recently, Barcelona increased its city-wide tourist tax. Similarly, you’ll have to pay an extra “climate crisis resilience” tax if you plan on visiting Greece that will fund the country’s disaster recovery projects.
The starters are on the blocks, and with less than 100 days to go until the Paris 2024 Olympics, luxury Swiss watchmaker Omega was bound to release something spectacular to mark its bragging rights as the official timekeeper for the Summer Games. Enter the new 43mm Speedmaster Chronoscope, available in new colourways—gold, black, and white—in line with the colour theme of the Olympic Games in Paris this July.
So, what do we get in this nicely-wrapped, Olympics-inspired package? Technically, there are four new podium-worthy iterations of the iconic Speedmaster.
The new versions present handsomely in stainless steel or 18K Moonshine Gold—the brand’s proprietary yellow gold known for its enduring shine. The steel version has an anodised aluminium bezel and a stainless steel bracelet or vintage-inspired perforated leather strap. The Moonshine Gold iteration boasts a ceramic bezel; it will most likely appease Speedy collectors, particularly those with an affinity for Omega’s long-standing role as stewards of the Olympic Games.
Notably, each watch bears an attractive white opaline dial; the background to three dark grey timing scales in a 1940s “snail” design. Of course, this Speedmaster Chronoscope is special in its own right. For the most part, the overall look of the Speedmaster has remained true to its 1957 origins. This Speedmaster, however, adopts Omega’s Chronoscope design from 2021, including the storied tachymeter scale, along with a telemeter, and pulsometer scale—essentially, three different measurements on the wrist.
While the technical nature of this timepiece won’t interest some, others will revel in its theatrics. Turn over each timepiece, and instead of a transparent crystal caseback, there is a stamped medallion featuring a mirror-polished Paris 2024 logo, along with “Paris 2024” and the Olympic Rings—a subtle nod to this year’s games.
Powering this Olympiad offering—and ensuring the greatest level of accuracy—is the Co-Axial Master Chronometer Calibre 9908 and 9909, certified by METAS.
A Speedmaster to commemorate the Olympic Games was as sure a bet as Mondo Deplantis winning gold in the men’s pole vault—especially after Omega revealed its Olympic-edition Seamaster Diver 300m “Paris 2024” last year—but they delivered a great addition to the legacy collection, without gimmickry.
However, the all-gold Speedmaster is 85K at the top end of the scale, which is a lot of money for a watch of this stature. By comparison, the immaculate Speedmaster Moonshine gold with a sun-brushed green PVD “step” dial is 15K cheaper, albeit without the Chronoscope complications.
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The Omega Speedmaster Chronoscope in stainless steel with a leather strap is priced at $15,725; stainless steel with steel bracelet at $16,275; 18k Moonshine Gold on leather strap $54,325; and 18k Moonshine Gold with matching gold bracelet $85,350, available at Omega boutiques now.