This is an edition of the newsletter Box + Papers, Cam Wolf’s weekly deep dive into the world of watches. Sign up here.
So, imagine you’re standing at a horse’s butt. That’s where the new Hermès Arceau Rocabar de Rire—one of 2025’s finest and most painstakingly constructed watches—places you. There’s a handsome steed depicted on the dial, brought to life by the maison’s skillful artisans using a combination of miniature painting, engraving, and horsehair marquetry (in which literal strands of mane are carefully arranged to create a design). He’s staring back at you with a goofy expression—eyes shining, ears perked up, maw slightly agape. (That look, an Hermès representative told me at Watches and Wonder, was inspired by the gazes the brand’s clients receive from their horses when they’re feeling lazy and don’t want to leave the stables.) Press the button at 9 o’clock, and the timepiece triggers a mechanism designed for the sole purpose of making the wearer squeal with joy: The horse sticks its tongue out.
For the pleasure of experiencing that tongue wagging yourself, you’ll need to cough up between $157,100 and $162,600, depending on your preference of gold. And that’s if you’re allotted one of the 12 pieces in existence.
The Arceau Rocabar de Rire exemplifies the new spirit of luxury permeating the watch market. Luxury is always top of mind in the opulent world of high-end timepieces, of course, but rarely have there been so many distinct flavors of luxury to choose from. During Parmigiani Fleurier’s presentation at Watches and Wonders, the brand’s representatives brought up the idea of “private luxury”—the idea that these are objects intended to bring joy exclusively to the person wearing them and understanding and appreciating the craftsmanship. In his newsletter Unpolished, GQ contributor Tony Traina categorized several of the tradeshow’s new releases under the umbrella of “opulent simplicity.” And then there’s the stream of luxury I’m most fascinated by: what I’m calling artisanal whimsy, in which brands leverage their highly skilled artisans and watchmakers to make the most fun and silliest watches ever.