Aegir CD-2 LE update

[t20569cald]

I just sent this out to the list, most of which (full address book) is lost forever in a massive computer crash. It died.

So I am posting it here as well.

Hello Gents,

It has been awhile, but a lot has happened. The problem is, there is always some wait for info.

So a lot to say, some good, some not so good. I do feel I owe the full story here though, or at least the short version.

I ordered the Mhvj cal 2005 around this time in 2010. I was lucky finding it, as I needed something to separate the Thomas Prescher name from the Soprod A10 based watch.
I tried several companies with upmarket movements, such as Vaucher. No luck, 300 min order, no exceptions. In fact Thomas Prescher tried getting a few from them at some point, to use as a base, and he was turned away. 300 min order.
I stumbled across Mhvj, and could not believe my luck when they agreed to sell me 16 movements, then I asked to take the order up to 25, and they said no problem.

It turns out, that they had no movements to sell! But I never knew this of course. It was in ''development''. The order was due to arrive with Thomas Prescher in Feb of 2011.
And to be fair, 2 movements did! No decoration, damaged screws, scratches, etc. They still billed me for them though. So then they said, '' they are movements to case with, to make sure all fits etc''
And nothing else ever turned up.

The due date came and went, the next date came and went, and so on. You all know this, as it came and went for you as well.

The movements arrived with Thomas about 12 months ago, and the finish was poor. They looked good, but the issue was down to the sand blasted bridges, which was so delicate, that the slightest touch to anything left a mark.
And marks they had. So they were sent back.

They argued with us, and demanded that they deliver them a few weeks later to Thomas Prescher and he pay cash on delivery. Keep in mind he is assembling, regulating and I am paying him, and he is not part of the project in terms of investment.
So they are now contacting him direct, which he is pissed about, and I can not blame him. These movements are costing me, a bit over $1100 AUD each, so to ask Thomas to pay cash, is just unheard of, and a bit rude.

I then involve Festina, who owns Mhvj, and Soprod, as well as many others.
I explain I am going to sue them, and they respond straight away at a very high level. The owner is informed, and all is looking good to sort the mess.

It then turns out, Mhvj have been hiding a little secret from their bosses, and that is the movement is not finished! The date wheel function has some issue. I heard this direct from Festina, but I already knew, as I had a back channel by this time.
Apparently is was not good, and someone did leave Mhvj.

So we agreed to change the finish, have a 3rd party help with the date wheel, and here we are.
A few weeks ago, the movements were delivered. Thomas found issues, with little bits here and there. But I think it was more a case of he was not any longer wanting to be part of it, and I do not blame him.
I think he made up his mind 12 months earlier, and wish he had of said something a little sooner.

So Thomas Prescher has decided to pull out at this point, and I agree with him. I would have 12 months ago. But this does not help me much!
The movements are ready, have been sent to Soprod, and they have cleared them. I for one have good dealings with Soprod, and love the A10, so if they are happy, then it should finally be sorted. 3 years is about the time it takes to develop a movement, and 3 years it has been!
Now, while this all sounds doom and gloom, and a deal breaker for some, many on the list do not even know who Thomas Prescher is, and the fact he has pulled out, makes the watch cheaper.

It was $3852 AUD and now will be $3000 AUD, which according to the online exchange currently, is approx $2880 USD or 2080 Euro, or 1780 GBP.
I am not making a cent, believe me, but at this point, I do not care.
The solid back will not be included, as I needed to mill them out to make new crystal ones, as it was the easiest way to take out the name of Thomas Prescher.
Still ships with Metta leather etc.

So,,,,,,, allegedly the movements are in transit to me now. Though they have not given a tracking number.

I expect many of you to pull out, and I would like to take this opportunity to first thank you for sticking with me to this point during a very trying time in this business. And secondly, I would like to offer my sincere apology that the planned watch was so log delayed, and not ever delivered.
I will now need to make a new list, for the non Thomas Prescher assembled watch, still with the same specs.
If you would all be so kind to let me know your intentions at this point, that would be most appreciated. If the movements are not here in 14 days time, then i will cancel the order and move forward, so no more delays!
A local watchmaker (Swiss trained) will assemble, and I expect to be shipping middle of next month.

It has been a journey, thanks all.

Regards,

Todd Caldwell
Aegir Watches

[andrema]

Wow...that is horrible that you had to go through all of that mess! As always, you are a straight shooter and honest to a fault!

You put out a great product and I am sure that the LE folks will get a fantastic piece either way!

[toxicavenger]

Holy shit Todd!!! I would have bought a case of asprin to put up with all of this b.s. or turned onto some oxy for daily parties.

Hope everything works out Todd and cudo's to you for being straight forward like always!!!

[hoppyjr]

Sorry it's been such a shit sandwich Todd, but kudos to you for providing the update. I hope it works out ok in the end.

[t20569cald]

Wow...that is horrible that you had to go through all of that mess! As always, you are a straight shooter and honest to a fault!

You put out a great product and I am sure that the LE folks will get a fantastic piece either way!

Thanks, and that was the short version by the way, there was so many other things, but then the update would be far too long

[unixshrk]

Wow what a headache

[carlodwc]

Sorry to hear of all these troubles but it's awesome that you persevered and are coming to a conclusion with some actual products.

[koda240]

Hope this works out for you. It's a bummer when something could have been an enjoyable and memorable process turns sideways. Good luck.

[lilhoody]

Todd,
I echo the admiration expressed here for the update and transparency. Honestly, I'm confused about the three projects, and have been for a while. I peeked in a few threads, but don't have the time to read them all, and I couldn't get on your website this a.m.

Would you post a condensed update for all products; price, options, availability? Or, point me in the right direction? Is the CD1 dead?

[t20569cald]

Todd,
I echo the admiration expressed here for the update and transparency. Honestly, I'm confused about the three projects, and have been for a while. I peeked in a few threads, but don't have the time to read them all, and I couldn't get on your website this a.m.

Would you post a condensed update for all products; price, options, availability? Or, point me in the right direction? Is the CD1 dead?

I will do that in a dedicated thread once these movements arrive and I ship out a few watches from the 25.
I will add here a very condensed one for you.

I have a few CD-2 watches, approx 10, plus 12 with crystal backs, that have not been assembled. 4 of those have the option for a blue accented dial (the second hand tip and the ''701M'' ) being in blue, dial still black.
They are all the same price, $1926 AUD for export.

I SHOULD have, in a couple of weeks, 24 watches assembled, with the Mhvj cal 2005, crystal backs and Metta leather with rubber Isofrane in the box.
These are $3000 AUD each, and when Thomas Prescher was involved they were $3852 AUD, but now $3000.
So far from my update 1 person has pulled out, 4 agreed to stay, 2 on the fence and 20 I have not heard from.
I will of course start to contact from Monday each person individually to build my list.

The CD-1 is going ahead, but I need to recover some money to do it. I have movements that arrived a short time ago, (A10) so that is fine, but tooling is quite a bit.
If I build 25, I will run at a small loss selling them at $1700 AUD each, but that will almost cover the tooling and production as a lot will carry over from the CD-2, so I am happy with that.
I still need to get some money back though, about 30k before I start with it.
I have a safe full of Metta straps, of which I paid 130 GBP each for them, and a heap of other stuff, so while personally I can find the money, I will not. I have spent a lot and it is not fair on my wife to continue, so Aegir needs to pay for it. And the small CNC I am buying to make buckles with. Nothing is cheap, but i hope we are in final stages of pre-production before the year is out.

[Graeme]

My hats off to you Todd!! Well done for keeping with it, I really hope everything works out soon.


Regards
Graeme

[Jamie]

Todd I wish you only the best mate

[t20569cald]

Thanks guys

[Brklynlarsons]

Todd,
I echo the admiration expressed here for the update and transparency. Honestly, I'm confused about the three projects, and have been for a while. I peeked in a few threads, but don't have the time to read them all, and I couldn't get on your website this a.m.

Would you post a condensed update for all products; price, options, availability? Or, point me in the right direction? Is the CD1 dead?

I will do that in a dedicated thread once these movements arrive and I ship out a few watches from the 25.
I will add here a very condensed one for you.

I have a few CD-2 watches, approx 10, plus 12 with crystal backs, that have not been assembled. 4 of those have the option for a blue accented dial (the second hand tip and the ''701M'' ) being in blue, dial still black.
They are all the same price, $1926 AUD for export.

I SHOULD have, in a couple of weeks, 24 watches assembled, with the Mhvj cal 2005, crystal backs and Metta leather with rubber Isofrane in the box.
These are $3000 AUD each, and when Thomas Prescher was involved they were $3852 AUD, but now $3000.
So far from my update 1 person has pulled out, 4 agreed to stay, 2 on the fence and 20 I have not heard from.
I will of course start to contact from Monday each person individually to build my list.

The CD-1 is going ahead, but I need to recover some money to do it. I have movements that arrived a short time ago, (A10) so that is fine, but tooling is quite a bit.
If I build 25, I will run at a small loss selling them at $1700 AUD each, but that will almost cover the tooling and production as a lot will carry over from the CD-2, so I am happy with that.
I still need to get some money back though, about 30k before I start with it.
I have a safe full of Metta straps, of which I paid 130 GBP each for them, and a heap of other stuff, so while personally I can find the money, I will not. I have spent a lot and it is not fair on my wife to continue, so Aegir needs to pay for it. And the small CNC I am buying to make buckles with. Nothing is cheap, but i hope we are in final stages of pre-production before the year is out.

Jeez, Todd, I love your watches, and I wish I could afford to buy one of your watches just to help you out. Seriously, what you've gone through sounds like an absolute nightmare. I wish you all the best.

[andrema]

Put me on your CD-1 list!


Sent from my iPad using Tapatalk - now Free

[t20569cald]

Todd,
I echo the admiration expressed here for the update and transparency. Honestly, I'm confused about the three projects, and have been for a while. I peeked in a few threads, but don't have the time to read them all, and I couldn't get on your website this a.m.

Would you post a condensed update for all products; price, options, availability? Or, point me in the right direction? Is the CD1 dead?

I will do that in a dedicated thread once these movements arrive and I ship out a few watches from the 25.
I will add here a very condensed one for you.

I have a few CD-2 watches, approx 10, plus 12 with crystal backs, that have not been assembled. 4 of those have the option for a blue accented dial (the second hand tip and the ''701M'' ) being in blue, dial still black.
They are all the same price, $1926 AUD for export.

I SHOULD have, in a couple of weeks, 24 watches assembled, with the Mhvj cal 2005, crystal backs and Metta leather with rubber Isofrane in the box.
These are $3000 AUD each, and when Thomas Prescher was involved they were $3852 AUD, but now $3000.
So far from my update 1 person has pulled out, 4 agreed to stay, 2 on the fence and 20 I have not heard from.
I will of course start to contact from Monday each person individually to build my list.

The CD-1 is going ahead, but I need to recover some money to do it. I have movements that arrived a short time ago, (A10) so that is fine, but tooling is quite a bit.
If I build 25, I will run at a small loss selling them at $1700 AUD each, but that will almost cover the tooling and production as a lot will carry over from the CD-2, so I am happy with that.
I still need to get some money back though, about 30k before I start with it.
I have a safe full of Metta straps, of which I paid 130 GBP each for them, and a heap of other stuff, so while personally I can find the money, I will not. I have spent a lot and it is not fair on my wife to continue, so Aegir needs to pay for it. And the small CNC I am buying to make buckles with. Nothing is cheap, but i hope we are in final stages of pre-production before the year is out.

Jeez, Todd, I love your watches, and I wish I could afford to buy one of your watches just to help you out. Seriously, what you've gone through sounds like an absolute nightmare. I wish you all the best.

It character building

[toxicavenger]

I agree, if I have the bank I would buy one or two watches also. But times right now aren't want they were. Wish you the best Todd like always.

[lilhoody]

I agree, if I have the bank I would buy one or two watches also. But times right now aren't want they were. Wish you the best Todd like always.

Time for another contract?

[t20569cald]

I agree, if I have the bank I would buy one or two watches also. But times right now aren't want they were. Wish you the best Todd like always.

I am not broke and have money enough, but I can not put more in from my own pocket.
And it always works out in the end, always has, always will

[hoppyjr]

Probably a stupid question, but I was curious:

Is there still a plan for the white dial with its larger diameter, or is that a couple years out still?

Well done on keeping the crew informed on the above stated developments and sorry things have turned this way.

[t20569cald]

Probably a stupid question,production. curious:

Is there still plan for the white dial with its larger diameter, or is that a couple years out still?

Well done on keeping the crew informed on the above stated developments and sorry things have turned this way.

It certainly is planned still.
As for a time scale, 6 months from start of production maybe less as a lot is already done.
Of course when said production starts is a matter of money.
If the Mhvj movements do not turn up by the 8th of November then I will cancel that watch.
If I can then get 25 pre-orders for the CD1 I will put my hand in my pocket and start straight away.
The pre-order would cost $100 deposit just to keep the list serious.

Have to see If they deliver

[lilhoody]

Probably a stupid question,production. curious:

Is there still a plan for the white dial with its larger diameter, or is that a couple years out still?

Well done on keeping the crew informed on the above stated developments and sorry things have turned this way.

It certainly is planned still.
As for a time scale, 6 months from start of production.
Of course when said production starts is a matter of money

Just start selling over priced homages to keep the train rolling.

[zepp21]

Probably a stupid question,production. curious:

Is there still a plan for the white dial with its larger diameter, or is that a couple years out still?

Well done on keeping the crew informed on the above stated developments and sorry things have turned this way.

It certainly is planned still.
As for a time scale, 6 months from start of production.
Of course when said production starts is a matter of money

Just start selling over priced homages to keep the train rolling.

MKIV

[hoppyjr]

Probably a stupid question,production. curious:

Is there still plan for the white dial with its larger diameter, or is that a couple years out still?

Well done on keeping the crew informed on the above stated developments and sorry things have turned this way.

It certainly is planned still.
As for a time scale, 6 months from start of production maybe less as a lot is already done.
Of course when said production starts is a matter of money.
If the Mhvj movements do not turn up by the 8th of November then I will cancel that watch.
If I can then get 25 pre-orders for the CD1 I will put my hand in my pocket and start straight away.
The pre-order would cost $100 deposit just to keep the list serious.

Have to see If they deliver

Sounds good and gives me time to get ready....

[sharkfin]

Sorry to hear and see you go through these tribulations Todd.
You are a good man and respect your candid updates.

All the best and continued success for building cool bad ass watches.