Phillips in Association with Bacs & Russo is thrilled to welcome you to The Hong Kong Sessions, Fall 2023, online auction, running from 6:00 PM HKT, Thursday, September 21, to 6:00 PM HKT, Thursday, September 28. Featuring more than 130 different high-end luxury wristwatches, the sale covers everything from A. Lange & Söhne and F.P. Journe to Audemars Piguet and Patek Philippe. It even includes the TAG Heuer Carrera "Dato" Limited Edition for Hodinkee featured in this story.
– Logan Baker
TAG Heuer introduced a new range of Carrera Chronographs at Watches & Wonders this year that were meant to signify the start of a new generation for TAG Heuer’s flagship chronograph.
Social media pundits and members of the horological media were quick to pronounce them as some of the best TAG Heuer watches in years. I don’t necessarily disagree – but it’s worth understanding how we got to this point.
The Carrera had struggled to find an identity within the TAG Heuer catalog for much of the 21st century – torn between serving as an identifiable entry point into the TAG Heuer with a safe-yet-uninspired aesthetic (cc: much of the Calibre 5 and Calibre 16 generation) and satisfying hardcore lovers of vintage Heuer watches that only appreciated Jack Heuer’s original design for the family.
The 2023 TAG Heuer Carrera is the model that finally succeeds at appealing to both segments, the neophytes and the enthusiasts. It’s the culmination of eight years of work at TAG Heuer, and the result of 10 previous Carrera watches aimed at the enthusiast market.
Those 10 previous Carreras were known to collectors as featuring a “Glassbox” design. I’m unsure if TAG Heuer was the original source of that nickname, but the first time I can recall seeing it used was on the well-known Heuer-lover Jeff Stein’s dedicated website, OnTheDash.
The first-generation “Glassbox” Carrera comprises 10 special or limited edition TAG Heuer Carrera wristwatches released between 2015 and January 2023, all featuring 39mm stainless steel cases with faceted lugs and a domed sapphire crystal that reflects the use of plexiglass crystals on vintage Carreras of the 1960s and ‘70s.
These 10 different Carreras were some of TAG Heuer’s most popular releases in the late 2010s and early 2020s, with the high watermark likely coming when an example of one of the more exclusive releases sold for more than four times its MSRP at a Phillips Geneva auction, in May 2021. It’s rare for modern TAG Heuer watches to appear at auction – and it’s unheard of for them to perform that sort of multiplier over the original list price.
These 10 TAG Heuer watches are some of the most interesting and attractive of the modern era, spawning the serial-production collection that was introduced at Watches & Wonders 2023. Here’s a rundown of all 10, plus a closer look at the second-generation “Glassbox” family.
2015: TAG Heuer Calibre 18 Telemeter Ref. CAR221A
The first “Glassbox” Carrera came in summer 2015 with the special-edition Calibre 18 Telemeter, featuring a two-register “panda” dial and a telemeter scale running along the periphery of the dial. The ref. CAR221A introduced the 39mm case and “Glassbox” crystal but is also unique in the first-generation “Glassbox” series for being the only non-limited release and for being one of three of the original watches to use the Sellita-based Calibre 18 rather than the in-house Heuer Calibre 02 movement. The original retail price was USD $5,900; long discontinued, it can now typically be found on the secondary market for between USD $4,000 and $5,000.
2017: TAG Heuer Carrera Skipper Limited Edition For Hodinkee Ref. CAR221B
The most desirable “Glassbox” Carrera is a limited-edition revival of the legendary Heuer “Skipperera” ref. 7754 that was produced in collaboration with Hodinkee, the well-known New York-based online media and e-commerce company. A limited edition of just 125 watches, the Skipper “Glassbox” featured a bright blue dial with a multi-color sub-dial at nine o’clock that functioned as a yacht timer.
Alongside the previous Telemeter special edition, the Hodinkee Skipper is one of three “Glassbox” Carreras outfitted with the Calibre 18 rather than the Calibre Heuer 02 movement. Given the high demand and small production quantity, the Skipper has remained the most sought-after of the first-generation “Glassbox” models, with the most impressive result coming in May 2021 at a Phillips Geneva auction. Examples rarely come up for sale, and if you see one available – grab it. The original MSRP was USD $5,900.
2017: TAG Heuer Carrera Chronograph ‘Blue Dreamer’ Limited Edition For The Rake & Revolution Ref. CAR221C
Following quickly on the heels of the Hodinkee collaboration, TAG Heuer revealed a second reinterpretation of the Skipper format with Revolution and The Rake, two magazines owned by Singaporean media magnate Wei Koh. Rather than a direct re-edition like the Hodinkee Skipper, the “Blue Dreamer” Carrera reimagined the yacht-timing design with a heavy emphasis on blue tones.
Said to be inspired by the beautiful setting of the French Riviera, the Blue Dreamer was a limited edition of 100 watches – the smallest number of any first-generation “Glassbox” Carrera. It was also powered by the Calibre 18 movement and had an original MSRP of around USD $5,900. Although not as sought-after as the Hodinkee Skipper, the Blue Dreamer tends to trade over its original retail price, with the most recent results coming between USD $8,000 and $10,000.
2018: TAG Heuer Carrera Heuer 02 By Fragment Design Hiroshi Fujiwara Limited Edition Ref. CBK221A
Another collaboration, the fourth "Glassbox" Carrera was created in partnership with Hiroshi Fujiwara, the legendary Japanese streetwear designer and musician, and his current label, Fragment Design. Easily the most modern-looking and experimental of any of the original "Glassbox" Carreras, the ref. CBK221A was introduced in 2018 in a run of 500 watches. The watch is very much a contemporary reinterpretation of the 1960s ref. 2447N Carrera, with a fresh perspective on the dial's typography and layout. The watch also skips the use of vintage-inspired "fauxtina lume," opting instead for an extra-clean and modern bright white for the hands and printing on the pitch black dial.
The Fragment Design Carrera was also the first "Glassbox" Carrera to incorporate the in-house Calibre Heuer 02 movement – as such, it carried a much higher MSRP than its "Glassbox" predecessors, of USD $8,100. Prices on the secondary market have tended to be all over the place – I've seen examples transact for everything from the USD $6,000 range to upward of $10,000.
2020: TAG Heuer Carrera Heuer 02 160th Anniversary 'Silver' Limited Edition Ref. CBK221B
TAG Heuer, née Heuer, notched a significant birthday in 2020 – the 160th anniversary of the founding of the original Heuer firm. Although the Carrera didn't appear at Heuer until around the brand's centennial, it served as the centerpiece of TAG Heuer's anniversary celebrations that year, starting with the TAG Heuer Carrera Heuer 02 160th Anniversary 'Silver' Limited Edition.
The most straightforward "Glassbox" to date, the monochrome "Silver" Carrera paid tribute to the 1960s Carrera ref. 2447SD. It received plenty of plaudits from vintage Heuer lovers for its authentic, minimalist style. TAG Heuer created a total of 1,860 examples of the ref. CBK221B. It had an MSRP of USD $6,450 – and you can find one secondhand these days for approximately $5,000.
2020: TAG Heuer Carrera Heuer 02 160th Anniversary 'Montreal' Limited Edition Ref. CBK221C
The second "Glassbox" Carrera of 2020, TAG Heuer surprised everyone when it pulled an esoteric chronograph from its archives – a watch that was never a part of the Carrera family – and reinterpreted its design cues into the modern "Glassbox" Carrera platform. The original Heuer Montreal from 1972 had more in common with the Autavia family than it did the Carrera. Its oversize format and bright colors seemed to be the opposite of the more straightforward Carrera. But TAG Heuer was able to successfully bring the funky flavor of the original '70s Montreal to life. The use of white, blue, red, and yellow on the dial shouldn't work as well as it does. TAG Heuer made 1,000 examples of the "Glassbox" Montreal, with a list price of USD $6,750 – today, you should be able to find an example on the market for somewhere in the range of $5,000 to $7,000.
2021: TAG Heuer Carrera Heuer 02 'Dato' Limited Edition For Hodinkee Ref. CBK221D
TAG Heuer's second limited-edition collaboration with Hodinkee, the Carrera Heuer 02 "Dato" Limited Edition was the souped-up sequel to the success of the Skipperera, featuring the application of the in-house Calibre Heuer 02 and inspiration taken from 1965's historic ref. 3147, which was the first Carrera outfitted with a date function. In fact, not only was it the first Carrera with a calendar, but it was also one of the first chronograph wristwatches ever to include the now-standard rotating date wheel display. Nicknamed the "Dato 45" for its combination of an elapsed 45-minute register at three o'clock and date display, the vintage ref. 3147 has always been desirable for its good looks and simple charm – so it only makes sense it was brought back to life at some point. Hodinkee and TAG Heuer did a fantastic job with the final product, and all 150 examples sold out in minutes.
The Hodinkee Dato's original price tag was USD $7,250 – and examples have since traded all over the place, from the mid-to-high four figures, up to the low five figures. The example currently available in the Phillips Hong Kong Sessions, Fall 2023, Online Auction currently has an estimate of HKD $30,000 - 60,000 (approx. USD $3,800-7,700 at time of publication).
Fun fact: Despite being introduced in February 2021, the Carrera Heuer 02 "Dato" Limited Edition for Hodinkee features TAG Heuer's special 160th anniversary rotor also found on the Silver Carrera and the Montreal Carrera.
2021: TAG Heuer Carrera Heuer 02 With 'Green' Dial Limited Edition Ref. CBK221F
This green-dial Carrera (some collectors descrive it as having a teal-colored dial) was added to the TAG Heuer catalog in May 2021, in a limited-edition of 500 watches. It's effectively the same watch as 2020's hit silver-dial "Glassbox" Carrera (ref. CBK221B) but with the addition of a glorious on-trend, full-green hue that renders the dial, all the sub-dials, and the tachymeter scale in the same vibrant viridescent shade. My favorite detail, however, is only visible through the caseback. TAG Heuer outfitted the Calibe Heuer 02 with a column wheel gear colored the exact same green shade as the dial. Five hundred examples were produced at a list price of USD $6,650. The pre-owned examples I've seen on the market are typically within a ballpark price range of $5,500 to $7,000.
2022: TAG Heuer Carrera Heuer 02 With 'Red' Dial Limited Edition Ref. CBK221G
This crimson Carrera has a similar story to the previous green dial watch. Its entire dial is executed in a bold shade of red, while the "Glassbox" case and crystal and the Calibre Heuer 02 movement all remain the same. And yes, TAG Heuer did opt to color the column wheel red.
Six hundred total examples were produced for a list price of USD $6,750. I haven't seen very many of these Carreras land on the secondary market yet, but the ones that have seem to have remained close in value to the watch's retail price.
2023: TAG Heuer Carrera Heuer 02 '60th Anniversary' Limited Edition Ref. CBK221H
The tenth and final of the first-generation "Glassbox" Carrera models, the TAG Heuer Carrera Heuer 02 '60th Anniversary' Limited Edition ref. CBK221H was introduced in January of this year (2023) to kick off the Carrera's diamond jubilee.
A beautiful recreation of the "Panda" dial ref. 2447 with a lovely vintage aesthetic, all in that same compact 39mm case with the in-house, self-winding Calibre Heuer 02 inside. Six hundred examples were built, at a list price of USD $7,400.
The Second-Generation TAG Heuer Carrera 'Glassbox' Chronograph
The 60th Anniversary "Glassbox" Limited Edition from January was the last of the first-generation, limited-production 39mm Carreras. Taking note of the success of each new "Glassbox" release, TAG Heuer decided to shift its Carrera strategy entirely at Watches & Wonders this spring, introducing a new generation of the "Glassbox" Carrera format that immediately entered serial production. It's now the standard bearer for the Carrera family, pushing the once-ubiquitous Calibre 16/18 (Sellita-based) Carreras to the side.
The new-generation "Glassbox" Carrera consists of two serial-production 39mm chronographs (pictured above and below), with either a black "Panda"-style dial or a solid blue one, as well a tourbillon-equipped chronograph that uses a Glassbox style case in new 42mm dimensions (ref. CBS5010). TAG Heuer introduced a new sapphire crystal on the model that is intended to decrease the distortion of the crystal on the periphery of the dial, as well as a streamlined case profile with a thinner top section. Interestingly, the dial also now has a concave flange that curves alongside the perimeter of the watch nearly flush with the crystal.
TAG Heuer also used the occasion to launch an updated version of the in-house Calibre Heuer 02, the Calibre TH20-00. I'm a big fan of the Calibre Heuer 02 – it's been the best-value-for-money in-house automatic chronograph in the watch industry for much of the past decade. It had a fully integrated architecture that ran in 33 jewels, at a beat rate of 28,800 vph, with an impressive power reserve of up to 80 hours, all stored in a single barrel thanks to a longer-than-average mainspring.
The entire Calibre Heuer 02 construction consisted of just 168 components, a remarkably small figure compared to automatic chronograph movements of the past. The use of fewer total parts in the movement is beneficial to the end-user as it typically translates to less wear over time and a more straightforward servicing experience. It's an impressive piece of kit – you can't find any better in Switzerland in the mid four-figures.
So I was curious at how and why TAG Heuer decided they needed a change. Luckily, all the updates are for the better. One of the most highly regarded horological minds in all of Switzerland, Carole Forestier-Kasapi, formerly in charge of high-end watchmaking at Cartier, joined TAG Heuer as the company's Movement Director in 2020. She simply saw further ways the Calibre Heuer 02 could be improved.
Much remains the same in the Calibre TH20-00. The frequency, the power reserve, and the jewel count are all identical to the Calibre Heuer 02, but the oscillating weight has a brand new design and can now wind bidirectionally (instead of only in one direction). It's also said to offer a much smoother, quieter, and more responsive winding experience for the end user. Thanks to the updates, TAG Heuer was able to extend the warranty on all chronographs with the Calibre TH20-00 to up to five years of customer protection, compared to the two years previously offered for watches with the Calibre Heuer 02.
TAG Heuer has continued the Carrera's hot streak since Watches & Wonders. A new generation of the Skipperera, the ref. CBS2213, was finally introduced, in July of this year, offering the beloved Carrera Skipper styling in the new-for-2023 "Glassbox" format. And it's not a limited edition! Although TAG Heuer specifies it has a smaller production count than the other new Carrera variants, it's not limited to any specific number.
And then, even more recently, in early September 2023, TAG Heuer revealed the latest result of its ongoing partnership with Porsche, the innovative Carrera "Chronosprint" that uses the new 42mm "Glassbox" case and a fascinating chronograph seconds mechanism that starts extremely fast (covering one-third of the dial in 9.1 seconds), before gradually slowing down the rest of its way around the dial until hitting 12 o'clock, where it then speeds up once again. Why? Well, it's inspired by the 0-100 km/h speed of the original Porsche 911: 9.1 seconds. TAG Heuer took that inspiration and turned it into a bit of a mechanical easter egg. No, it has no practical purpose, but it's neat to see TAG Heuer investing in experimental new chronograph functions and displays.
TAG Heuer's "Glassbox" Carrera hasn't even existed for a full decade yet, but I think it's fair enough to crown it the most collectible and continuously interesting collection at the brand in recent years. And the best part? Now that the "Glassbox" has a more formal presence in TAG Heuer's catalog, there's nowhere to go but up for the Carrera.
You can learn more, place a bid, and view the entire Hong Kong Sessions, Fall 2023, catalog here.
About Phillips In Association With Bacs & Russo
The team of specialists at PHILLIPS Watches is dedicated to an uncompromised approach to quality, transparency, and client service. Phillips in Association with Bacs & Russo holds the world record for the most successful watch auction, with its Geneva Watch Auction: XIV having realized $74.5 million in 2021. Over the course of 2021 and 2022, the company sold 100% of the watches offered, a first in the industry, resulting in the highest annual total in history across all the auction houses at $227 million.
About Logan Baker
Logan has spent the past decade reporting on every aspect of the watch business. He joined Phillips in Association with Bacs & Russo at the start of 2023 as the department's Senior Editorial Manager. He splits his time between New York and Geneva.
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