On June 13, 1987, noted Parisian jewelers Pierre and Jacques Chaumet were taken into custody for bankruptcy, breach of trust, and fraud. The distinguished gentlemen would be convicted of all these crimes, losing control of the House of Chaumet, one of the most celebrated names in jewelry, as well as Breguet, which enjoyed a similar reputation in watchmaking. The story of the rise and fall of Chaumet is even more fascinating for what is not known about the case, however, and what it tells us about the modern aristocracy.
Chronographs are so popular that cheap fashion watches today often feature bogus subdials with non-functional hands and pushers. But once upon a time, a chronograph was a simple tool seen more as an advanced stopwatch than a true complication. What was once a utilitarian tool for soldiers became an upscale choice for doctors, then an iconoclast choice for young people, and now a sign of fine watchmaking.