I wanted to buy an FM in my early watchbug days (about 5 months ago). I was buying another brand (Lange) from a gray market seller who was highly recommended by WN folk (for good reason). He also had several FMs for sale and I also wanted one of those. Since we had corresponded for awhile and he thought I was a "serious" watch person (or on my way to becoming one) he told me the FM was not for me. He characterized FM as the "Master of Deceptions". So he did not sell me a $12K watch and it remained unsold the last time I dropped in on his website (a month ago). I will gladly provide you with his name and access because he is obviously not just doing it for the money.

Since then FM has come up several times on watch fora with almost the same conclusion. Once a rising star among watchmakers and highly regarded by watchnuts FM started his own company, joined the AHCI (the small independent watchmakers' group), and created fine complicated watches. With investor backing (and a booming world economy) FM concentrated on watch case and dial design (instead of movements) and a colossal public relations glamour campaign that included Formula 1 racing.

FM, a boutique watchmaker, went the Rolex route. Although there are still complicated FM watches at very high prices the vast majority are fancy cases, fancy dials (FM charges premiums for the different dials) combined in an almost modular way to offer variety for the "masses". So watchnuts are disappointed (FM is still a member of AHCI) and poo poo his products because their virtue is based on image (rather than intrinsic quality--say of an FP Journe or Philippe Dufour).

Perhaps it depends on one's viewpoint. Watchnuts admire the notion of individual geniuses toiling away at unique creations. And many nuts can afford to buy several of these creations. But I doubt that any of them had to earn a living making such baubles. They admire the individual and criticize the entrepreneur. Yet they themselves are probably more the latter than the former. It may be similar to groupies abandoning a musician once that person has "sold out" or "gone platinum".

Getting back to FM the problem may be because he still wants to have it both ways. His sales and profits are based on the "affordable" watches and yet he includes a few complications to maintain the image of the serious watchmaker. Maybe when FM is even more famous he can abandon the complications altogether and drop the self-aggrandizing title "Master of Complications".

In considering a watch for your wife there may be a parallel story with Patek Philippe's 24. That low horology (but pricey) bauble is responsible for a gigantic portion of Patek's profits. Its adverts are shameless--young and near-emaciated woman appears to be halfway between greeting and goodbye; on her wrist, a 24 sparkles ostentatiously. What is that supposed to mean? So here too is a watchmaker (the prima according to reputation) known for its complications that few can afford, offering a bit of that glamour to the hoi polloi. And the hoi polloi is not only a massive group, but able to pay the premium. In fact, Patek has been accused of creating an entire line of "mid price" minor complications to allow lower class men to pretend they have a fancy watch.

So watchnuts have criticized the great house of Patek for dilluting its brand as millions in profits are wheeled into the Geneva office. Well, that is just the way the luxury watch market has evolved and Rolex invented the hype. So if your wife is not a watchnut she might be very pleased with the FM (it is probably as reliable and as easy to service as a contemporary Rolex). Keep in mind that its value to her or anyone is based on an image that FM must be vigilant in sustaining.

Best wishes.
Robin