The best-documented match for this story is Horage’s Lensman 2 Exposure, a mechanical watch linked to award-winning photographer Brian Griffin. WatchPro reported standard and Brian Griffin special editions, signed photography boxes and preorder prices from CHF 4,900 to CHF 6,450. However, no verified source identifies the speaker, percentage or original interview behind the phrase “really poor” margins, and the available evidence does not establish that Griffin is a watchmaker.
What the documented launch actually is
Horage’s Lensman 2 Exposure is a physical mechanical watch built around photography as its central story. The strongest available reporting, from WatchPro, connects the model with award-winning photographer Brian Griffin and describes two broad product versions: a standard edition and a Brian Griffin special edition.
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The special-edition proposition extends beyond the watch itself. Buyers could choose a signed photographic presentation box in one of four categories: Music, Film, Portrait or Artist Selection. That makes the launch a collectible pairing of horology and photography rather than a conventional camera accessory or a watch advertised solely through a celebrity endorsement.
The wording matters because the available account supports “photographer collaboration,” not every element implied by the headline. It does not establish that Griffin designed the movement, manufactured the watch or spoke publicly about the company’s margins.
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Preorder prices and edition structure
WatchPro published two preorder tiers. VIP preorders were listed at CHF 4,900 and CHF 5,900, while early-bird preorders were listed at CHF 5,450 and CHF 6,450. The report presents each tier as a two-price range for the available versions; it does not provide enough detail to assign every figure to a particular photo-box category.
| Preorder tier | Published prices | What the report establishes |
|---|---|---|
| VIP preorder | CHF 4,900 / CHF 5,900 | Two prices were reported for the launch versions; the source does not map each amount to a specific box category. |
| Early-bird preorder | CHF 5,450 / CHF 6,450 | Two prices were reported for the launch versions; the source does not map each amount to a specific box category. |
These are published preorder prices, not a verified current retail price, resale value or delivered cost in any particular country. Currency conversion, taxes, duties, shipping and later availability can change what a buyer ultimately pays.
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What “really poor margins” can—and cannot—be established
No verified source available for this story supplies a margin percentage, identifies the person who used the phrase “really poor,” or reproduces the original interview in which it appeared. It would therefore be inaccurate to present the quotation as a measured financial result for Horage or for independent luxury-watch brands generally.
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“Margin” can refer to several different calculations:
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- Gross margin: selling price minus direct production costs such as movement, case, crystal, assembly and packaging.
- Contribution margin: what remains after variable costs, potentially including payment processing, fulfillment and commissions.
- Operating margin: the result after fixed costs such as engineering, tooling, staff, marketing, rent, warranty work and administration.
- Maker’s share of the retail price: the amount left after distributors, retailers, taxes and other channels take their portions.
A limited mechanical watch can have a high ticket price while still producing weak operating results if development, tooling, photography, packaging, small production runs or unsold inventory absorb the revenue. Conversely, a low-volume direct-to-customer launch may retain more of the retail price than a wholesale model, but that does not prove the business is profitable.
The CHF figures above show what customers were asked to pay at preorder. They do not reveal unit cost, production volume, retailer terms, warranty reserves, advertising spend or net profit. None of those figures is supplied in the published account.
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How the launch compares with other photographer-watch partnerships
Other documented partnerships show that luxury-watch companies use photographers in more than one way. They should not be treated as confirmation of the unverified margins quotation.
| Example | Collaboration type | Product purpose | Edition or pricing information |
|---|---|---|---|
| Horage Lensman 2 Exposure with Brian Griffin | Photographer-linked special edition and signed presentation material | Collectible mechanical watch with photography-led storytelling | Standard and special editions; VIP CHF 4,900/5,900 and early-bird CHF 5,450/6,450, as reported by WatchPro |
| Panerai with Rafael Fernández Caballero | Field-testing and ambassador-style professional partnership | Underwater expedition and dive-watch use | Panerai’s official announcement dated 8 June 2026 names Caballero as a new Field Prover and says his inaugural expedition used the Submersible PAM02683; pricing was not stated |
| Certina with Tobias Friedrich | Partnership with an award-winning underwater photographer | Professional underwater photography context | Certina’s partnership page says Friedrich has more than 50 prizes and first place in 30 competitions, including Underwater Photographer of the Year 2018; launch pricing was not stated |
The comparison is useful because it separates three different commercial ideas: a photographer-branded collectible, a professional field-use relationship and a broader brand partnership. None supplies audited profitability data for independent watchmaking.
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What buyers should verify before ordering
- Confirm the edition. Ask whether the quoted amount is for the standard watch or the Brian Griffin special edition.
- Confirm the presentation box. Check whether Music, Film, Portrait or Artist Selection is available in your market and whether the signed box is included in the stated price.
- Check the payment terms. Preorder pricing is not the same as an in-stock retail price. Verify deposit, balance-payment date, cancellation and delivery conditions.
- Calculate the landed cost. Add destination-country tax, customs duty, shipping and any currency-conversion fee to the CHF price.
- Request product specifications. Before paying, obtain the movement, case materials, water-resistance rating, warranty terms and service arrangements in writing.
- Separate collectible value from financial claims. A signed photographic box may increase the item’s appeal, but neither the launch report nor the partnership announcements establish future resale value or profitability.
The bottom line on the headline
Lensman 2 Exposure is the clearest documented answer to the question about a new watch involving an award-winning photographer: it is Horage’s photography-linked mechanical watch associated with Brian Griffin. The launch had standard and special editions, four signed photo-box choices and published preorder prices ranging from CHF 4,900 to CHF 6,450 depending on tier and version.
The “really poor margins” part remains unverified. Without the original speaker, accounting definition, period and underlying financial statements, the phrase cannot support a margin percentage or a conclusion about whether independent luxury watches are profitable.
