Taylor-Joy, who became an ambassador for the brand in 2022, follows the late Queen Elizabeth (who wore the 101 for her 1953 coronation), in wearing the spectacular piece. In addition to all its diamonds, the watch is powered by the Calibre 101, which remains the world’s smallest mechanical movement – hiding its face amid the rows of glistening diamonds.

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Leigh Zagoory, head of important watch auctions at Sotheby’s New York, says while the trend for cocktail watches has always waxed and waned, renewed vigour for dressing up is impacting their popularity right now.

“Cocktail watches tend to come and go with trends. I think there has been a recent resurgence post-pandemic now that people have started to attend events again and are no longer confined to their living room and loungewear attire, and are excited to get out and dress up again,” she says.

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Today, Jaeger-LeCoultre has built on the heritage of the classic 101 with models such as the 101 Bangle, 101 Snowdrop and the 101 Feuille.

“For women, I think there is a real need for meaning and emotion in a piece. It can be through complications for some, and it can be through poetic interpretations for others. It also often comes with métiers rares (rare watchmaking skills), and obviously the settings and the stones. We see that the beauty and the meaning the product brings are important drivers of choices for women.”

A chic example of one such “secret” watch is Van Cleef & Arpels’ Cadenas (padlock) watch. The art deco piece first debuted in 1935 and has an inclined dial on the bracelet, allowing its wearer to discreetly check the time. It was inspired by the incomparably elegant and indubitably infamous Duchess of Windsor.

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Julie Clody, managing director of Van Cleef & Arpels Hong Kong and Macau, notes that the role of the jewellery watch has changed since that time.

The maison’s breadth of styles, from high jewellery watches – with heavier diamonds and precious stones such as the Ludo and Snowflake – to timepieces in fine jewellery collections like the Perlée and Alhambra, has broadened the clientele, embracing younger customers. Meanwhile, breakthroughs in technique – some after years of work – have added to the transformability in jewellery watches too. This gives more versatility to an investment piece.

“Instead of just a timepiece to be worn on the wrist for telling time, we try to maximise the wearing possibility by creating transformable jewellery timepieces,” says Clody, pointing to the Ludo bracelet, on which the wearer can replace the dial motif with a hexagonal mesh buckle set with precious stones to create a new piece of jewellery.

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The rose-shaped motif can also be transformed into a clip, or a pendant threaded onto a long chain. “All these will require special attention to the clasp and security systems, which are hidden inside the motif. The jewellers will also need to install ingenious secret mechanisms to conceal the dials, while maintaining the flexibility and fluidity of each piece,” she adds.

Antoine Pin, managing director of Bulgari’s watch division, says the marriage of jewellery and fine watchmaking allows the brand to fully express its savoir faire and spirit. “We are now undertaking a new step with the development of mechanical calibres for women, which gives us a unique positioning on the market. We say that Bulgari is a Roman jeweller of time, a name that combines the best of the two areas,” he says.

As Pin notes, jewellery watches have always been part of Bulgari’s DNA, with its first jewellery watches created in 1918. The same essence of exuberance and boldness found in its jewellery is fully realised in its jewellery watches too.

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“Nowadays, Bulgari makes high-end jewellery watches in the same ateliers as high jewellery and therefore they feature the same incredible stones that can be found on the necklaces. Exquisite colour, unexpected shapes and unique character are what drives the search for our stones,” he says.

Pin believes jewellery watches are a way for clients to express themselves, and that need not be limited solely to the evening: “Our customers come to Bulgari to find creations that express their personality – pieces which are joyful, colourful, extraordinary,” he says. “These pieces are created to indulge oneself in beauty, but at the same time can be worn with a casual style – jeans and a T-shirt as much as with a more fancy outfit for a cocktail party.”

Zagoory agrees that the “rules” around cocktail watches certainly need not apply.

“Cocktail watches were originally very small – almost in line with a tennis bracelet – to give the effect that someone is wearing jewellery and not a watch,” she says. “Nowadays, they are larger in diameter and do not necessarily need to be adorned with diamonds. They are not only wearing these watches at cocktail and black tie events, but also at basketball games and more casual settings to dress up a pair of jeans.”

So when it comes to wearing a jewellery watch now, the answer is really, do so however, and wherever, you fancy – because a little sparkle is always a good idea.