Would Zach trade his Credor Eichi II for the new Grand Seiko SBGZ011 ‘Majestic Waterfall’?
Zach BlassWhen we visited Grand Seiko at Watches and Wonders this year, of course, the Ushio Diver was the star of the show. But if I could have walked out of the room with one watch on my wrist, it would have definitely been this Grand Seiko SBGZ011. As someone far down the Grand Seiko rabbit hole, repeatedly called Time+Tide’s resident ‘Seikophile’ in each YouTube review I host for any Seiko or Grand Seiko watch, the Grand Seiko catalogue and its expansive price range are something I completely understand. However, I can appreciate that those who have not spent years following the brand, memorising reference numbers by heart, and have yet to learn that zaratsu polishing is not a samurai sword polishing technique may struggle to understand how something branded Seiko, even bundled with the word Grand, could command prices anywhere from US$2,600 to US$400,000.
When introducing people to Grand Seiko, of course, staples like the SBGA211 ‘Snowflake’, SBGA413 ‘Shunbun’, and SLGH005 ‘White Birch’ are go-to models to shout out. But when it comes to showing just how grand and premium the brand’s offerings can get, showcasing the pinnacle of its watchmaking mastery, it is Micro Artist Studio creations like this SBGZ011 ‘Mystic Waterfall’ that really make it crystal clear.
The case
This is not the first time we have seen a platinum Grand Seiko Masterpiece model with an engraved case, even one where the pattern extends fluidly onto the dial like the SBGZ001 ‘Snowflake’ and SBGZ009 ‘Majestic White Birch’.
However, this is notably the first time we have seen Grand Seiko create an engraved platinum 44GS case instead of the more rounded ‘Elegance’ case style. On the wrist, it wears well, measuring 40mm in diameter, 9.6mm thick, which is notably the same case thickness as the original 44GS case from 1967, and 46.2mm across the wrist lug-to-lug. By modern standards, it certainly has a fan-favourite diameter, respectable slenderness, and compact enough lug-to-lug span that, all considered, flatters most wrists whether smaller or larger.
A signature characteristic of the modern 44GS case has been its shoulder blade lug profile, distortion-free, mirror-polished, and instantly eye-catching. So it is, in some respects, shocking to see a 44GS without that element. It really is that mirrored lug that best showcases what zaratsu finishing achieves, with people often resting their watch on top of a book or magazine to show the reflected text can be seen with zero distortion. Even when you visit the factory, the brand has a picture on the wall that demonstrates exactly that. But hey. I am definitely not mad. The hand-engraving performed on this case is absolutely exquisite. It may not be everyone’s cup of tea aesthetically, but it is undeniably a work of art – something that could be showcased in any venerated museum.
The dial
This engraved masterpiece is not just distinct in its usage of a 44GS case, but also in its dial execution – and I don’t just mean the new ‘Mystic Waterfall’ pattern. New depth is introduced to the dial, with an outer minutes track that is devoid of any engraving pattern, which makes the carved hashes for the minutes easier for the eye to discern. The same can be said for the carved Grand Seiko logo beneath the 12 o’clock hour indexes and the carved ‘Spring Drive’ and eight-pointed star above the 6 o’clock hour index, denoting it is a special dial that makes use of 14k white gold for the hours and minutes hand and the full set of diamond-cut hour indices. This is an interesting evolution, but one that I see why the brand did as Grand Seiko heavily emphasises legibility in its designs, and the brushed backdrop makes each of these elements far easier to read.
This setup creates a chaptered, centre medallion effect for the dial, and the ‘Majestic Waterfall’ pattern is certainly easy to get lost in. The swirled lines hand-engraved into the dial are said to be inspired by the Tateshina Waterfall that can be found in the heart of a forest in Shinshu near the Micro Artist Studio. Lines radiate out in different directions, creating a spotted effect as the dial is reoriented under light. When you see it in person, it is really quite mind-blowing.
The straps
The Grand Seiko SBGZ011 is offered with two straps, both of which utilise the included platinum three-fold clasp. The first keeps things tamer and more classic, a black crocodile leather strap that lets the case and dial be the focal point of the overall look. The other option is a leather strap that is as stimulating as the watch itself. This strap, with metallic accents and a design inspired by the shimmer of splashing water, is made by KYOTO Leather. Grand Seiko explains that KYOTO Leather is known for fusing “the traditional craftsmanship of kimono – such as Nishijin weaving and gold leaf techniques from Kyoto, an ancient capital of Japan – with tanners from Himeji, one of Japan’s leading leather-producing regions.” This creates a special leather strap that embodies the distinction of Japanese craft.
Though there are no quick-release tabs on either of the 19mm width straps, there are drilled holes in the lugs that, at the very least, make it easier to remove the strap should you wish to do it yourself. That being said, you’d better have a steady hand when putting one of the straps on. I can only imagine the remorse someone would have if they scratched such a beautiful case. Probably best to visit your local watchmaker should you wish to swap between them.
The movement
Exhibited inside the SBGZ011 is the in-house manually-wound Spring Drive calibre 9R02, Grand Seiko’s take on the 7R14 used by Credor in watches like the Eichi II. Those familiar with the Eichi II will recognise shared elements like the richly hairline-brushed bridges and elegant mile-wide bevelling performed on them. You also have the openworked barrell with a hand-finished bellflower motif – the emblem of the Micro Artist Studio.
However, the bevelling near the glide wheel is more rounded than what you would find on the 7R14 and also adds the step of a sharp internal angle between two jewels that creates an image of a frog’s eyes. Internal angles are the most difficult aspect of bevelling to perform, so, as much as I love my Eichi II, I would argue the 9R02 finishing is even better than the 7R14’s finishing. Totally subjective, of course, but man, do I love that added internal angle.
Other elements you would not find on the Credor 7R14 are the golden, hand-engraved Micro Artist placard and its 84 hours of power reserve compared to the 7R14’s 60 hours of power reserve – indicated by a differently styled power reserve indicator. This is due to the fact that Grand Seiko utilises stacked twin barrels in its 9R02. Factor in the humbly quoted second per day accuracy, you would be hard-pressed to find a more beautiful and high-performing manual calibre than this.
The verdict
Though I believe we’ve far left behind the notion of Switzerland being the sole nation capable of producing very high-end watches, at least those of us within the watch community, I firmly believe that watches like this SBGZ011 irrefutably prove that Grand Seiko can go toe-to-toe, head-to-head with the best watchmakers in the world. Between the beautiful, painstakingly hand-engraved case and dial, and on a platinum case no less, plus a Spring Drive calibre with unparalleled accuracy and a level of decoration that even Philippe Dufour would Leonardo DiCaprio Gatsby-style raise his glass for, Grand Seiko’s label of this watch as a masterpiece is absolutely appropriate. Incredibly, Grand Seiko is even limiting this design to 50 pieces, where most brands making a watch of this level would probably not dare go beyond 10. A grail-watch level creation in my book, 100%.
Grand Seiko SBGZ011 ‘Majestic Waterfall’ pricing and availability
The Grand Seiko SBGZ011 ‘Majestic Waterfall’ will be available beginning in July 2026 as a limited edition of 50 pieces. Price: US$84,000
| Brand | Grand Seiko |
| Model | SBGZ011 ‘Majestic Waterfall’ |
| Case Dimensions | 40mm (D) x 9.6mm (T) x 46.2mm (LTL) |
| Case Material | Hand-engraved 950 platinum |
| Water Resistance | 30 metres |
| Dial | Hand-engraved Majestic Waterfall “Special Dial” |
| Crystal | Sapphire front and back |
| Bracelet/Strap | Black crocodile leather strap, 900 platinum three-fold clasp Additional leather strap created by KYOTO Leather |
| Movement | 9R02, in-house, manually-wound, Spring Drive |
| Power Reserve | 84 hours |
| Functions | Hours, minutes, seconds, power reserve indicator (movement side) |
| Availability | Limited to 50 pcs. |
| Price | US$84,000 |