On 1 October 2026, during Milano Watch Week, Parmigiani Fleurier presented the Toric Petite Seconde Platinum Morning Blue, Ref. PFC940-2010008-300181: a 40.6mm platinum dress watch with a hand-grained blue gold dial, priced at CHF 56,500 and not limited. It joins the Toric Chronograph Rattrapante in rose gold, Ref. PFH951-2010001-300181, a split-seconds chronograph limited to 30 pieces since its April 2024 debut. The short answer: the PFC940 is the purest expression of the relaunched Toric and stays in regular production, while the PFH951 is the collection's technical flagship and, with only 30 made, the scarcer of the two on the secondary market.
Key facts
- The Toric was the first product line Parmigiani Fleurier presented, in 1996, the year Michel Parmigiani founded the brand.
- Parmigiani Fleurier relaunched the Toric collection at Watches and Wonders Geneva in April 2024, under CEO Guido Terreni, who has led the brand since January 2021.
- The Toric Petite Seconde Platinum Morning Blue, Ref. PFC940-2010008-300181, measures 40.6mm by 8.8mm in 950 platinum and is water resistant to 30 meters.
- The Morning Blue uses the hand-wound calibre PF780, with 18k rose gold bridges, with 157 components, 27 jewels, 4 Hz and a 60-hour power reserve.
- Parmigiani Fleurier lists the Morning Blue at CHF 56,500; Gear Patrol reported a US price of $68,200 on 2 October 2026.
- The Toric Chronograph Rattrapante in rose gold, Ref. PFH951-2010001-300181, measures 42.5mm by 14.4mm and is limited to 30 pieces.
- The PFH951 runs on the hand-wound calibre PF361-SLIM: 285 components, 35 jewels, 5 Hz (36,000 vph) and a 65-hour power reserve.
- The PFH951 launched at US$145,200 (aBlogtoWatch, October 2024); the brand site lists it today at CHF 140,000.
- On 5 October 2026, the lowest visible Chrono24 asking price for a PFH951 was $110,750, across two listings.
The Toric from 1996 to the 2024 relaunch
Michel Parmigiani founded Parmigiani Fleurier in 1996, and the company is owned by the Sandoz Family Foundation, according to Wikipedia's entry on the brand. The Toric was, in the words of Time and Watches, "the first product line presented by the Swiss brand in 1996." Ethos credits the first Toric to Michel Parmigiani himself and notes that "the knurled bezel has become a signature feature across Parmigiani Fleurier's collections."
The name and the bezel share one idea. A torus is the rounded molding at the base of a classical column, and Time and Watches links the design to Doric columns and the torus form; aBlogtoWatch describes the result as a "doric column-inspired fluted bezel." That fine knurling, visible on every Toric since, is what separates the line from the cleaner bezels of the brand's later collections.
The modern chapter started with Guido Terreni, CEO since January 2021. His first major move was the Tonda PF, a four-watch integrated-bracelet collection introduced for the brand's 25th anniversary in August 2021. SJX reported Terreni's stated aim as a "new direction for design, which is less ostentatious." The Toric relaunch at Watches and Wonders Geneva 2024 applied the same restraint to the dress watch. Parmigiani's own Watches and Wonders 2024 page quotes him directly:
"In crafting the new Toric collection, we drew upon the rich horological culture and expertise of Parmigiani Fleurier to redefine the essence of the men's dress watch."
Guido Terreni, CEO, Parmigiani Fleurier (Watches and Wonders 2024)
The 2024 launch comprised two models: the Toric Petite Seconde, in rose gold with a Sand Gold dial (Ref. PFC940-2010001-300181) and in platinum with a Grey Celadon dial (Ref. PFC940-2010004-300181), and the Toric Chronograph Rattrapante, Ref. PFH951-2010001-300181, in rose gold. Time and Watches recorded launch prices of CHF 45,000 and CHF 52,000 for the two Petite Seconde versions.
The new Toric Petite Seconde Morning Blue PFC940-2010008-300181
The Toric Petite Seconde Platinum Morning Blue, Ref. PFC940-2010008-300181, is a hand-wound, time-only platinum dress watch with small seconds at 6 o'clock and a hand-grained 18k white gold dial in a pale blue Parmigiani calls Morning Blue. According to the official product page, the 950 platinum case measures 40.6mm in diameter and 8.8mm thick, with ARunic anti-reflective sapphire on both sides and 30 meters of water resistance.
The dial finish is the story. Parmigiani uses grenage, a hand-graining technique that Italian Watch Spotter traces to the 17th century: a mixture of cream of tartar, sea salt, silver and demineralized water is worked into the gold to produce a fine matte texture. Applied indexes and alpha hands are rhodium-plated 18k gold; the small seconds hand is rhodium-plated steel, per Haute Time.
The movement is the calibre PF780, the same base used in the 2024 Petite Seconde. Its bridges are 18k rose gold, visible through the caseback. The brand lists it at 28.4mm across and 3.15mm thick, with 157 components, 27 jewels, a 4 Hz (28,800 vph) frequency and 60 hours of power reserve. The strap is Akoya Grey nubuck alligator with a 950 platinum pin buckle.
Haute Time reports the reference is not limited and is sold through authorized dealers. Parmigiani lists it at CHF 56,500; Gear Patrol gave a US price of $68,200. Terreni framed the release in the Haute Time coverage:
"With TORIC, we did not seek to revive the past, but to reformulate it."
Guido Terreni, CEO, Parmigiani Fleurier, quoted by Haute Time, October 2026
The Toric Chronograph Rattrapante PFH951
The Toric Chronograph Rattrapante, Ref. PFH951-2010001-300181, is a hand-wound split-seconds chronograph in 18k rose gold, limited to 30 pieces, and the most complex model in the relaunched Toric line at its 2024 debut. The official product page gives a 42.5mm diameter, 14.4mm thickness, ARunic sapphire front and back, and 30 meters of water resistance.
Inside is the calibre PF361-SLIM: 30.6mm across, 7.35mm thick, 285 components, 35 jewels, beating at 5 Hz (36,000 vph) with 65 hours of power reserve. The higher frequency matters for a chronograph. As Ethos notes, a 5 Hz chronograph with a double column wheel can measure to a tenth of a second. aBlogtoWatch described the PF361 as "the brand's first integrated chronograph movement," with skeletonized bridges in satin-finished rose gold.
The dial is hand-grained like the Petite Seconde, in a brown Parmigiani names Natural Umber. The three chronograph registers sit slightly recessed, which aBlogtoWatch described as sub-dials "recessed...ever so slightly into the watch face," keeping the dial calm despite the extra functions. A second split-seconds hand lies beneath the main chronograph hand and can be stopped independently to time an intermediate interval. The strap is light beige nubuck alligator.
Pricing has moved since launch. Time and Watches reported CHF 135,000 in April 2024; aBlogtoWatch published a US price of $145,200 in October 2024; the brand site lists CHF 140,000 today.
PFC940 vs PFH951: side by side
| Specification | Toric Petite Seconde Morning Blue | Toric Chronograph Rattrapante |
|---|---|---|
| Reference | PFC940-2010008-300181 | PFH951-2010001-300181 |
| Introduced | October 2026, Milano Watch Week | April 2024, Watches and Wonders Geneva |
| Case material | 950 platinum | 18k rose gold |
| Diameter x thickness | 40.6mm x 8.8mm | 42.5mm x 14.4mm |
| Water resistance | 30 meters | 30 meters |
| Calibre | PF780, hand-wound, 18k rose gold bridges | PF361-SLIM, hand-wound |
| Frequency | 4 Hz (28,800 vph) | 5 Hz (36,000 vph) |
| Components / jewels | 157 / 27 | 285 / 35 |
| Power reserve | 60 hours | 65 hours |
| Dial | 18k white gold, hand-grained, Morning Blue | Hand-grained, Natural Umber |
| Functions | Hours, minutes, small seconds | Hours, minutes, small seconds, split-seconds chronograph |
| Production | Not limited | Limited to 30 pieces |
| Retail price | CHF 56,500 / US$68,200 | CHF 140,000 (current); US$145,200 at launch |
Two points stand out. First, the two share a design grammar: knurled bezel, alpha hands, applied indexes, grenage dial and sapphire caseback. Second, they differ in nearly everything that drives value. The PF361-SLIM has 128 more components than the PF780 and runs 1 Hz faster, and the PFH951 has a hard ceiling of 30 pieces where the Morning Blue has none.
Which Toric suits which collector
The Morning Blue is for the collector who wants the Toric at its most essential. At 8.8mm thick, it slides under a shirt cuff; platinum gives weight without shine; and the pale blue dial changes character with the light in a way the photographs only suggest. A buyer who already owns a steel sports watch and wants one serious dress piece will find few more restrained options at this level.
The PFH951 is for the collector who values mechanics and scarcity. A split-seconds chronograph is one of the more demanding complications in traditional watchmaking, and Parmigiani built only 30 in this configuration. At 14.4mm thick, it wears as a substantial gold chronograph rather than a dress watch. The Natural Umber dial reads warm against rose gold and pairs naturally with tailoring in brown, olive or navy.
Collectors weighing either should apply the same discipline they would to any high-end purchase: confirm the reference, the serial and the set before anything else. Our guide on how to buy a pre-owned luxury watch covers the checklist. For this year's Geneva novelties, see our Watches and Wonders 2026 coverage.
What the market shows for the PFH951
With 30 pieces made, PFH951 supply is thin. On 5 October 2026, Chrono24 showed two listings for the reference, with the lowest visible asking price at $110,750. That is an asking price, not a transaction, and two listings is too small a sample to describe a market. It does show that a pre-owned example currently asks roughly $34,000 below the US$145,200 launch price.
The Morning Blue has no secondary market yet: it was presented on 1 October 2026. Because it is not limited, buyers can expect authorized dealers to be the primary source for the near term.
The PFH951 at Honeyrock
Honeyrock currently offers a Parmigiani Fleurier Toric Chronograph Rattrapante 18K Rose Gold 42.5mm, Ref. PFH951, one of the 30 pieces made, from 2024, with the full set. The listed price is $109,250. The official 30-piece series is stated on Parmigiani's product page. As with every piece we offer, it has been vetted by Honeyrock's physician-led vetting team and is covered by our lifetime Authenticity Guarantee.
Frequently asked questions
What is the reference number of the Parmigiani Toric Morning Blue?
The Toric Petite Seconde Platinum Morning Blue is Ref. PFC940-2010008-300181. It is a 40.6mm by 8.8mm platinum watch with the hand-wound calibre PF780, presented at Milano Watch Week in October 2026.
How many Parmigiani Toric Chronograph Rattrapante PFH951 watches were made?
The Toric Chronograph Rattrapante in rose gold, Ref. PFH951-2010001-300181, is limited to 30 pieces, according to Parmigiani Fleurier's official product page.
Is the Toric Petite Seconde Morning Blue a limited edition?
No. Haute Time reports the Toric Petite Seconde Morning Blue, Ref. PFC940-2010008-300181, is not limited and is available through Parmigiani Fleurier authorized dealers at CHF 56,500, or US$68,200 per Gear Patrol.
What movement is in the Parmigiani Toric Chronograph Rattrapante?
The Toric Chronograph Rattrapante PFH951 uses the hand-wound calibre PF361-SLIM, with 285 components, 35 jewels, a 5 Hz frequency and a 65-hour power reserve.
When was the Parmigiani Fleurier Toric first introduced?
The Toric was the first product line Parmigiani Fleurier presented, in 1996, designed by founder Michel Parmigiani. The brand relaunched the Toric collection at Watches and Wonders Geneva in April 2024.
What is a grenage dial?
Grenage is a hand-graining technique Parmigiani Fleurier uses on Toric dials: a mixture of cream of tartar, sea salt, silver and demineralized water is applied to the dial to produce a fine matte texture. Both the Morning Blue and the PFH951 use hand-grained dials.
Sources
- Parmigiani Fleurier: Toric Petite Seconde Platinum Morning Blue
- Parmigiani Fleurier: Toric Chronograph Rattrapante Rose Gold Natural Umber
- Parmigiani Fleurier: Watches and Wonders 2024
- Haute Time: Toric Petite Seconde Morning Blue, Parmigiani in Platinum
- Italian Watch Spotter: New Toric Morning Blue by Parmigiani Fleurier
- Gear Patrol: Today in Gear, October 2, 2026
- aBlogtoWatch: Hands-On, Parmigiani Fleurier Toric Chronograph Rattrapante Watch
- Time and Watches: Parmigiani Fleurier unveils the new Toric Collection
- Ethos Watches: Presenting the Parmigiani Fleurier Toric Petite Seconde and Chronograph
- SJX Watches: Parmigiani Introduces the Tonda PF Collection
- Wikipedia: Parmigiani Fleurier
- Chrono24: PFH951 listings
