BREGUET PRODUCES no more than 10,000 watches a year. No wonder upcoming models are eagerly awaited, sometimes for years, by long queues of collectors. Martin Ganz, Swatch Group vice-president in charge of the Breguet brand, tells of a Hong Kong-based banker's wife who has had her eyes on the Queen of Naples, launched two years ago. The watch, recreated with the egg-shaped face of one of Breguet's old pocket watches, requires such detailed work on the guilloche of the face and the diamond settings on the inside and outside of the bezel that it costs HK$193,000 in yellow gold and $206,000 in white gold. Price, apparently, is not an issue. Supply is. The banker's wife has been in touch with the dealer almost every other day for the past two years, but to no avail. Breguet makes so few watches because it insists on a complex aesthetic process that it calls tradition. One such intriguing process involves using silver to cover the 18-carat gold it uses for its dials. Every watch dial has the dotted guilloche synonymous with Breguet. Dials have to be in 18-carat gold, which is easier to engrave than other metals, and are then covered with silver for aesthetic purposes. 'It cannot be seen but people know it is there. They know we don't cut corners,' Mr Ganz said. Between the entry level price of HK$45,600 and the top price of $1.84 million, Breguet timepieces cost an average of $150,000 to $160,000. Entry-level watches launched this year are the Marine line, redesigned for a sporty look and priced from HK$71,800 to $80,600, and the Type XXI series, which features minute hand of the chronograph on a big dial, a 24-hour indicator and a fly back chronograph (HK$59,400 and $68,100). 'We are a high-end brand,' he said. 'People who are looking for a classical watch will have a Breguet in there. 'It is a watch for the collector who doesn't want to be seen with what everybody has, and may be someone who's proud to wear something that other people don't know about. 'Our clients are very knowledgeable about watches and it [Breguet] is not the first thing they buy.'