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Fantastic question Don!

 

.. and Damien hit it on the nail!

For the question of whether a watch without a full in-house movement have it's value reduced, we only have to look at the following watches for an obvious answer, to name a few:

Patek 5070/5970
Speake Marin Piccadilly, and
Voutilainen Observatoire

Having said that, I don't mean that it's absolutely irrelevant. But we can see that the merit of a watch depend on many other factors. The movement is only one part of the watch (although it is the engine, but like cars how much value is diminished in shared platforms?). And as FX said, I'm sure we'd prefer one based on a reliable existing movement, than a problematic in-house movement.

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