You really need a watch wardrobe - The Financial Times

Is there evidence to indicate that women are taking mechanical and complicated watches seriously? Some watchmakers are convinced women are only after two things - good looks and diamonds. Yet if the answer is in the affirmative it could spell huge opportunities for the watch industry in coming years.

Mark Hearn, Patek Philippe's UK managing director, claims sales of women's mechanical watches are up and is confident this trend is set to continue. "Women routinely buy gentlemen's models, indicating the market may even be larger than we think," he says. This week Patek Philippe launches a women's version of its patented Annual Calendar - with the option of 156 flawless diamonds on the bezel and crown, mind you.

Mr Hearn believes women's changing choices in watches reflect a social trend. "The lines between the sexes are blurring," he observes. A notion given further credence by Hedi Slimane, creative director at Dior Homme, who has added diamonds to a quarter of his newest Chiffre Rouge's bezel.

Others maintain women's choices are still predominantly a factor of design. Jamie Fraser, managing director of Hamilton and Inches, responsible for the one of UK's finest selection of watches outside Bond Street, says: "Our recent success with Cartier, whose models hark back to all that is elegant and feminine, suggests that for women, looks are paramount."

There are certainly few signs that women's perennial love of jewellery-inspired and fun statement watches is abating and watch wardrobing is now the norm. The dial, bezel and case of the bejewelled interpretation of Audemars Piguet's iconic Royal Oak are littered with flawless diamonds. Sometimes colourful straps and gems do the seducing, as with Chopard's high jewellery watches, some of which are cost above Pounds 300,000.

Significantly more affordable, Links of London's cocktail watch, the Mini Broadband with diamond pave dial comes with straps in a gamut of summer colours as does Asprey's delicate A-line watch. All these contain quartz movements.

Joshua & Sons, a one-year-old British owned brand, has already enjoyed huge American success with its bold, daring watches - each a talking piece in its own right, including one sporting a spinning casino wheel dial - worn equally by men and women.

According to luxury specialist Ledbury Research, wealthy women buy watches more frequently than wealthy men and their motivating factors include the pleasure of being quizzed by their friends on where they bought items.

The trend for bigger watches - made popular by models such as Elle McPherson who wears a Rolex Daytona, has facilitated the move towards women favouring mechanical movements, since smaller mechanical movements tend to be temperamental.

Yet two watch companies stand out from the crowd in their unique recognition of women's power in today's watch market - Zenith and IWC Schaffhausen.

"Almost as complicated as women but on time" and "keep your hands off our Cohitas, malt whisky and watches", recent ad campaigns declare. IWC has cleverly reached out to women, fully aware that they are buying, borrowing and stealing men's timepieces. To be sure, IWC has now enlisted mountaineer Annabelle Bond, whose IWC Pilot chronograph will accompany her on her Seven Summits challenge, and who insists she carries lipstick in her backpack at all times.

Zenith, at the other extreme, has created the first women's tourbillon made with its famed El Primero movement. Three years in the making and at Euros 275,000, this is haute couture horlogerie at its most opulent.

"Men and women are influencing each other," says Thierry Nataf, Zenith president, although he acknowledges his figures "prove women are not mechanical aficionados in the same way as men".

Jaeger-LeCoultre, Breitling, Harry Winston and Maurice Lacroix have all recorded increased sales in women's mechanical watches and their new releases bear out this trend.

"Women are definitely showing an increased interest in minor complications," says Leonard Thompson, UK brand manager for Vacheron Constantin, A. Lange & Sohne and Panerai.

Glashutte Original will show a revamped women's collection this week. The word is Parmigiani too has re-thought its women's collection and is preparing to launch a collection soon.

Antiquorum of Geneva, the world's leading watch auctioneer, estimates women represent 20 per cent of watch collectors and claims women are regular online bidders at sales.

Women are the biggest online buying community," says Frederic Polli, founder of www.121time.com.

Women are increasingly accompanying their husbands to auctions, says Karin Tasso of Antiquorum. Regulars include a keen Patek Philippe collector and his wife - a woman mad about Vacheron Constantin and already the proud owner of more than 100 men's models.

No doubt she has her BlackBerry marked for Antiquorum's Vacheron Constantin 250th anniversary sale tomorrow.