For Your Reference: Jaeger-LeCoultre Reverso
A real collector's guide to the flippable watch.
There are origin stories and then there’s the Reverso. Swiss businessman (César de Trey) travels to India, sees a polo match, gets inspired. Enlists the help of Jacques-David LeCoultre and a casemaker to create and patent a swiveling, reversible case. The Reverso (reversed, per my Catholic school Latin) is born.
The Reverso became one of the first serially-produced wristwatches from any manufacturer (think: Patek Philippe introduced the 96 in 1932).
But this is a collector’s guide, not a history. I have a lot of opinions on collecting the Reverso, so it’s fine if your taste disagrees.
Last week, Hodinkee published the last big project I was involved with, a nicely-edited video on the Reverso. We traveled to the Vallée de Joux to shoot at the Jaeger-LeCoultre manufacturer with Matthieu Sauret, director of product and heritage, and Jacopo Corvo, grandson of Giorgio Corvo. Think of this as a companion guide to collecting the Jaeger-LeCoultre Reverso.
Table of Contents
Unapologetically Art Deco
The Reverso is Art Deco, no doubt about it. Decorative but streamlined, bold but functional. The original Reverso case measures 39x21mm, roughly in line with the Golden Ratio.1 A slimmed-down ladies’ size (33x16mm) was also offered from the start.
All vintage Reversos have manual-wind calibers, and there’s something incredibly tactile about the wind of a vintage Jaeger-LeCoultre movement. The Reverso wears larger than a standard Cartier Tank (23x30mm), and works on a wide range of wrists.
“Timelessness,” whatever that means, is overrated. I didn’t always love the Art Deco design of the Reverso. Those stepped gadroons make for a case that, if you squint, might fit more in the Chicago skyline than on your wrist. It feels very 1920s—prohibition, flappers, Gatsby, Reverso. But I’ve come around. Nowadays, so many brands (or people) are looking for “timeless” style, and end up lacking any style or substance.
The Reverso is unapologetically of its era, which is why it’s still relevant.
Origins: First Generation Reverso
Apparently, de Trey and the boys knew what they had because production on the Reverso began before the patent was even published. LeCoultre and de Trey formed Spécialités Horlogères to market and distribute the Reverso. LeCoultre didn’t have a caliber that fit the rectangular Reverso, so they turned to Tavannes Watch Co. to supply movements for the first couple of years.
These First Generation Reversos have a few defining characteristics:
Tavannes (Lisica) movements
“Reverso” only dials
Jaeger-Lecoultre didn’t exist yet, so the model name was front and center.
The First Generation has two common dials: (1) solid lacquer in a variety of colors and (2) Gothic Arabic numerals. Usually, they’ll have sword hands. The plain black dial was dubbed “the dial of the future” in marketing. I strongly prefer these plain dials—their use in the modern “Tribute” Reversos shows LeCoultre was right to call it the design of the future. Those Gothic numerals feel old by comparison.
Since it was a sports watch, most early Reversos are Staybrite steel, an early stainless steel alloy. But, you’ll also see two-tone, where the rotating chassis is gold, and full gold.
Ladies Reverso. Smaller and slimmer, these almost feel like a horse pill you’d take when you can’t sleep. You’ll typically see dials with a mix of batons and simple Arabic numerals.
Two Executions. The Reverso was offered in two versions:
“Luxe”: Featuring a movement finished with Geneva stripes and a sapphire crystal. Sometimes they’re signed “Reverso Luxe” on the dial.
“Standard”: Standard movement finishing and a mineral crystal.
Honestly, I didn’t know the difference between these until learning about it in Jaeger-LeCoultre’s The Collectibles. I asked a couple of JLC collectors, and the market doesn’t really differentiate between “Luxe” or “Standard.” Condition and originality are more important.
Collector’s tip: I view this First Generation as the most collectible Reverso. Collectors always value the “origin of the species.” In addition, the First Generation Reverso was only produced for a couple of years, and don’t come for sale often. Aesthetically, the lacquer dials feel completely modern for the early ‘30s.
Market watch: Last December, I covered a First Generation Reverso with black dial in the Watchlist (the case was polished but the dial was pristine). “There’s no reason a 1931 Reverso in good condition shouldn’t be a $15-20k watch, especially given the stupid prices people are paying to chase Cartier,” I wrote before the sale.
That Reverso sold for $22k, one of the better recent public results for a standard First Gen Reverso. As more collectors learn to differentiate the First Generation Reverso, I’d expect prices to further separate from later examples.
The Patek Philippe Reverso
In 1932, casemaker Wenger sold eight Reverso cases to Patek Philippe (Jacques-David LeCoultre was on Patek’s board). Cartier, Hamilton, Favre-Leuba, and Vacheron Constantin also marketed “Reverso” watches under license. A Cartier-signed Reverso sold for $28k last June.
Second Generation Reverso
In 1933, Spécialités Horlogères acquired the rights to the Reverso, and in 1937 it was integrated into the merger of Jaeger and LeCoultre to form a single company: Jaeger-LeCoultre.
In the first half of 1933, LeCoultre also developed the caliber 410, a tonneau-shaped movement tailored to the Reverso, along with the smaller caliber 404 for the ladies’ Reverso.
The Second Generation Reverso began when Tavannes movements were phased out in favor of these manufacture calibers. LeCoultre soon added the center-seconds caliber 411.
There’s tons of variation in the Second Generation Reverso. Until 1937, the Reverso is typically branded LeCoultre, but we see Jaeger-LeCoultre after the merger. Then, “LeCoultre” is used for the American market—Americans, in the 1930s or 2020s, don’t know how to pronounce ZHEH-zhair.
Collector’s tip: As with the First Generation, I love the rich lacquer dials in a variety of colors. The center seconds is also called the “Doctor’s Reverso,” because it could be used to keep a pulse. Like a center-seconds Calatrava, I like the sporty take on what feels like a dressier watch today.
In The Collectibles, Jaeger-LeCoultre says “several thousand” Reverso watches were produced from 1931 to the 1950s. This is a guess, but I’d bet I see 4–5 Second Generation Reversos for every First Generation.
World War II came along during these years, and round watches asserted their ruthless post-WWII hegemony. Rectangular watches fell out of favor. By the 1950s, Jaeger-LeCoultre stopped making the Reverso.
Rebirth and the Corvo Reverso
That changed in the early 1970s. It’s a story I’ve written in full on the Mothership and serves as a focal point of the video. The Corvo family, JLC’s distributor for the important Italian market, discovered a batch of old Reverso cases at the Le Sentier manufacturer.
They then figured out a method for holding the small, oval JLC caliber 840 in the Reverso case, and made 200 Reversos for the Italian market, 100 with a grey dial and Roman numerals, and 100 with a white dial. These sold out in just a few months—in the early ‘70s, selling 200 of any mechanical watch was an achievement.
Collector’s tip: I prefer the gray dial Corvo Reverso to the white—it’s so different from any other Reverso, giving it a Cartier-like elegance. I’d never seen a white Corvo until Jacopo brought an example for the shoot, and even he said it was a recent acquisition.
It was cool having four Corvo Reversos in Le Sentier for the shoot.2 I’d never seen a photo of a gray and white Corvo Reverso together.
The serial number for Corvo Reversos begins 467xxx. Because these are old cases from the ‘40s, many have been swapped for older dials over the years. The story of the Corvo Reverso hasn’t become widely known until the last few years, so dealers and collectors likely thought they were just putting together a period-correct watch.
In the past year, I’ve seen a few Corvo Reversos listed, including one at The Keystone for $16,500.
With the formation of Richemont, the Corvos were bought out of their distribution in Italy. They used the funds to launch GMT Italy, a distributor and retailer of indies. GMT became early supporters of FP Journe, MB&F (knowing Max from his time at JLC), and others. Meanwhile, they had almost no contact with JLC for two decades, until Sauret moved into his current role and invited Jacopo and his father, Michele, back to the manufacturer a few years ago.
1980s: The Weird Bridge Years
After the Corvo, Jaeger-LeCoultre brought the Reverso back into full production.
This first of the Reverso’s revival is easily identified because the case has two gadroons (instead of three), using the same basic construction as the original case. I’d never handled one until the video shoot, and I have to admit: it feels flimsy compared to the updated Reverso case that would come soon after.
The Reverso from these “bridge years” can be found with mechanical or quartz movements (the “Reverso Q,” ref. 140.021.8).
The most interesting Reverso from this era is probably ref. 6184.21, featuring a yellow-gold case and a variety of dials—glossy black keeping most in-line with the original. It’s an interesting, brief era for the Reverso, but not the most collectible.
Jaeger-LeCoultre also introduced the Reverso II in 1983—a watch not really worth your attention.
Into the Modern Era
In 1981, JLC engineer Daniel Wild was tasked with redeveloping the Reverso case. It took four years, but in 1985 a new case with 55 components was introduced—ergonomic, sturdier, and waterproof.
Old vs. New. I love the vintage Reverso, but there’s no denying the modern case is simply better and more satisfying to flip over. A vintage flip is wobbly, while the modern feels smooth and secure from beginning to end.
How to Reverse a Reverso. Don’t press the chassis into the case, but push it to the end, then slide back into place horizontally. This reduces the stress on the pin snaps and will keep the case tight longer.
With the new case ready, Jaeger-LeCoultre introduced the Reverso Classique:
White dial, Printed black numerals
Traditional case dimensions
JLC Caliber 846
The aesthetic is a break from the colorful dials and simple indices of the original Reverso. The Reverso Classique (or Classic) continues to exist in the Jaeger-LeCoultre catalog today in more or less the same form.
This is also when Jaeger-LeCoultre began offering the option of a bracelet on the Reverso. It’s a well-made bracelet, but to me, the Reverso is a strap watch.
Collector’s tip: Jaeger-LeCoultre also offered a glossy black dial in a pink or white gold case, and it’s my favorite from this era—the Classique dial just doesn’t do it for me.
Grand Taille. Soon after the Classique, Jaeger-LeCoultre introduced the larger Grande Taille case (26x42mm). It’s a more modern take on the Reverso keeping the Golden Ratio, but still relatively wearable. In 1992, Jaeger-LeCoultre introduced the new caliber 822 in the Grande Taille—it’s the caliber still found in many time-only Reversos today. While it’s an updated movement, its architecture is similar to the original caliber 410 from the ‘30s.
The larger Grande Taille Reverso, suitable for brutish modern sensibility, is credited with making the Reverso more popular in the 1990s.
1990s: 60th Anniversary and Complicated Reversos
In 1991, Jaeger-LeCoultre celebrated the Reverso’s 60th anniversary by introducing the Soixantieme, the first-ever complicated Reverso, featuring a power reserve and beautiful gold movement visible through a sapphire caseback.
This is the era of Günter Blümlein, Sylvain Golay, Henri-John Belmont, and then of a young Max Büsser. It’s an era of incredible innovation for Jaeger-LeCoultre.
The Soixantieme was a limited edition of 500 pieces. In the video, Jacopo recalls visiting the 60th anniversary exhibit in Milan as a young kid—many of these limited edition Reversos were destined for the Italian market.
But the 60th anniversary wasn’t a one-year plan. Through the 1990s, JLC introduced six complicated Reversos, all with gold movements and limited to 500 examples:
1993: Reverso Tourbillon
1996: Reverso Chronograph
1998: Reverso Géographique
2000: Reverso Perpetual Calendar
The impact of this series is still felt today. It’s the foundation for crazy stuff like the Quadriptyque or the more mainstream Tribute Chronograph. Much the way the First Generation Reverso from the early ‘30s is the origin of the species, this series of limited-edition Reversos lays the groundwork for what the modern Reverso can be, a display of JLC’s capabilities as a watchmaker.
The Datograph gets a ton of attention, and rightly so as an in-house, integrated chronograph developed by Lange in 1999. But I don’t think it’s a coincidence that the Reverso Chronograph came just a few years prior.
Time-Only Taste
It wasn’t just complicated Reversos in the 1990s. A couple of my favorite time-only Reversos from this era are:
The Accessible: Reverso “Shadow.” This is one of the best modernish Reversos at capturing its classic, sports-watch appeal. It’s the same traditional size, with big luminous numerals and hands. The satin-finished chassis gives it a raw, almost unfinished feel (ref. 251.8.86).
The Ornate: Reverso “Art Deco.” On the opposite end of the spectrum is the Reverso Art Deco, featuring a guilloche dial, along with skeletonized and hand-engraved bridges visible through the sapphire caseback (caliber 822AD). It uses the larger Grande Taille case and has a salmon dial and white gold case or silver dial with rose gold. (refs. Q2773460 and Q2772420). Produced from 1992 through 2002: 900 in rose gold; 200 in white gold.
Finally, A Modern Reverso I Can Get Behind
This gets us to the 2000s, when the Reverso becomes a thoroughly modern watch. I didn’t love many Reversos in the modern collection, but that’s changed in the last few years. For collectors with serious cash, there’s now the Reverso Tribute Chronograph.
Then, JLC introduced the Reverso Tribute Monoface last year. It’s the first modern Reverso I’ve been really excited about, maintaining the classic dimensions of the Reverso. The silver opaline dial has a vintage-feeling, matte finish that we don’t see often.
Collecting Conclusions
I’ve long felt the vintage Reverso is underappreciated for its rarity and historical importance. But, collecting the Reverso is slowed down by a few factors: (1) they’re small, (2) not that many were made, and (3) they’re hard to find in good condition.
I’m reminded of a quote I mentioned from the Acquired podcast about Rolex: “It’s not that the mechanical watch market experienced a comeback, it’s that it turned out to be the perfect object for a completely different market.”
With the introduction of the Soixantieme in 1991, Jaeger-LeCoultre was able to pivot the Reverso firmly into this new market. Flipping the case to protect the crystal has long lost any sense of practicality. Instead, Jaeger-LeCoultre was able to reposition it as a blank canvas to put on display its watchmaking and complications.
Meanwhile, for collectors, the monoface remains a canvas for personal expression, the only real purpose for a watch nowadays.
Let me know what you think of the Reverso—vintage, modern, anything in between. Any favorites, and what’d I miss?
The Roundup
👀 Watchlist. Jaeger-LeCoultre travel clocks are great, even better when they’re signed Hermes (Buy on eBay). Also, check out this platinum rectangular Vacheron from the 1940s (Buy on eBay). This newsletter may contain affiliate links; if you buy something, we might earn a small commission.
👌 Breitling Navitimer Perpetual Calendar Chrono. Breitling released a stainless steel Navitimer Perpetual Calendar Chrono, a followup to last year’s trio of limited edition gold PCCs using the same movement. Offering a perpetual calendar chrono for $30k is impressive—if they can get the size down a bit more, I’m curious to see how it could be used in future Universal Geneve releases.
💼 Bloomberg journalist Andy Hoffman has joined Hodinkee. Andy should bring solid business reporting, especially now that he’s dedicated to the watch industry.
🌶 I’m not saying I agree, but a subscriber comment about brand perception from last week’s newsletter:
When I reflected upon the MAD1 Green, one distinction that became clear between indie and legacy brands is how they probably approach a product. Something along the lines of “how can we make this possible” for indies, and “how can we make this cheaper” for legacy brands.
Get in touch:
tony@unpolishedwatches.com
❣️ Tap the heart or leave a comment if you like this issue—seriously, it helps me know if Unpolished is working for you.
The 17mm lugs are kind of a pain.
JLC’s, Jacopo’s white and gray pair, and mine.
The white Corvo with baton indexes has my heart. Thanks for a great Sunday read!
I’m in love with that new Reverso Tribute Monoface released last year. Finally a modern Reverso I could see myself wearing