Is the PS Horology Tsuba the right watch for Peter Speake’s independent comeback?
Borna Bošnjak- Peter Speake launches his second foray into high-end independent watchmaking with the Tsuba, a Japanese-Vietnamese-inspired piece.
- With a complex, cushion case and integrated bracelet design, the Tsuba looks to wiggle into the niche pseudo-sports watch market.
- It’s powered by an ultra-thin Vaucher micro-rotor, with prices starting at CHF 19,500.
If you’ve spent any time researching all the hottest independent watch brands of the noughties, chances are you’ve come across the name Peter Speake. Other than being the co-founder of Speake-Marin, the brand that he participated in between 2002 and 2017, his name crops up here and there, including Harry Winston’s Excentre Tourbillon and the very first MB&F watch in 2007, the Horological Machine 1. That’s already a pretty excellent portfolio, only made better by his co-creation of The Naked Watchmaker (a project he departed in 2022), and whose deconstructions I still often refer to. More recently, Speake has worked with Frederique Constant on the Slimline Perpetual Calendar, though his involvement with it was on the design, rather than manufacturing, front. In 2022, Speake launched PS Horology, his return to independent watchmaking, and now we’re seeing the first signs of what that might look like with the new Tsuba Blue and Tsuba Dong Son.
Starting with what to me seems like the overarching theme are the dials, with a multi-layered construction that adds depth to an otherwise simplistic design. The sector-style printing for the Tsuba Blue is applied onto a sapphire crystal blank that is then fitted over a lacquered base. The logo is minimal and unobtrusive, fitting neatly into the lollipop hour hand when aligned at 12 o’clock, with the only other text sitting in the bottom corners of the dial, in an unfortunately stock Microsoft Word-looking script.
On the Dong Son dial, things are drastically different. Picturing the motifs of the Dong Son, a bronze age Vietnamese civilisation inhabiting the Red River in current northern Vietnam, it’s a hand-carved piece of 18k gold inspired by Dong Son drums, while the hands are shaped like their spears. The scene itself is a depiction of the Dong Son circle of life, with the sun in the centre as the most important aspect of the agricultural society, surrounded by dwellings and animals, set against a slate or dark blue backdrop. Why choose a bronze age culture for inspiration? For the Tsuba Dong Son, Speake is working with Vietnamese retailer Miluxe to celebrate the country’s 80th national day, and at the same time the centenary of the civilisation’s rediscovery.
The Tsuba case leverages Japanese inspiration, an ornate guard fitted to katanas, giving it a really complex-looking design that’s accentuated by multiple contrasting-finish surfaces. At 38.3mm across, its sizing is well-measured, and the 8.91mm thickness is commendable despite the Tsuba housing an automatic movement (more on which shortly). A word I wouldn’t use to describe the Tsuba is simple. In fact, the multiple facets, undulating lines, and side protrusions are a lot, especially when considering the bracelet.
So then, this is another take on the integrated bracelet sports watch, right? Well, with 30 metres of water resistance and no lume on the dial, I’m not sure I could categorise it as such – hence the choice of words in my introduction. For me, it slots into the segment occupied by the likes of the Parmigiani Tonda PF, and not just because they share movements.
Even though it’s only a single-link design, each link is impressively bevelled (do they remind anyone else of Batarangs?), finishing in a butterfly deployant clasp. For now, only the Tsuba Blue is available on the bracelet, though PSH says you’ll be able to add a bracelet to the Dong Son by mid-2025. The Dong Son is only available on a synthetic strap that PSH interestingly points out is humidity-resistant. Having spent time in Vietnam during the warmer months, that is a niche, but valuable selling point. The steel clasp is simple, with a rounded buckle depicting the PS Horology logo, and a two-blade folding closure.
No matter the angle, the Tsuba is full of design quirks, and the caseback is no different. The Dong Son has a commemorative engraving on the left side, with the right taken up by an ovoid sapphire window that shows off the micro-rotor and free-sprung balance of the Vaucher 5401. As mentioned before, this is the movement you’ll find in watches by Gerald Charles, Laine, and Kikuchi Nakagawa, essentially being a third-party variant of Parmigiani’s PF700 line produced by the brand’s Vaucher Manufacture Fleurier. At 2.6mm in height, it’s wonderfully slim, and the 48-hour power reserve is decent, if somewhat of a tradeoff given the thickness. In the Tsuba, the 5401 gets a blue (unsure if heat-blued) rotor and some pretty basic decoration that’s present on the base grade, straight from the factory. Coincidentally, you can see a full Vaucher 5401 deconstruction by The Naked Watchmaker here.
Thus far, PS Horology is a far cry from the ‘classical but with a twist’ style of Peter Speake’s original, eponymous brand. I can only wish Speake success, as there could never be too many unique independents to choose from. I’ll be totally transparent and say that the Tsuba is not my cup of tea at all, but what gives me hope is that this sort of execution suggests that Speake is back on track, and will not be wasting his talents by associating with something like Stoic Watches. That said, I do hope that we’ll see Speake pursue a more individual design language, focusing on unique signatures that made his other watches stand out, such as the Piccadilly case and spade handset. While the Vaucher micro-rotor is a fine calibre and the Tsuba is priced competitively, I see (read: hope) that it serves PS Horology as a smart business decision, an entry-level piece that’s relatively easily available and will make the brand money, allowing Speake to exercise his talents without needing to sacrifice profitability – something that marred his earlier attempts at independence.
PS Horology Tsuba Blue and Tsuba Dong Son pricing and availability
The PS Horology Tsuba Blue and Dong Son are available now. The Tsuba Blue will be made in 100 examples in 2025, with 99 available for purchase directly from PS Horology, Miluxe in Vietnam and Martin Pulli in the US. The Tsuba Dong Son is limited to 80 pieces, available from PS Horology and Miluxe only. Price: CHF 19,500 (~US$21,500, Tsuba Blue), POA (Tsuba Dong Son)
| Brand | PS Horology |
| Model | Tsuba Blue Tsuba Dong Son |
| Case Dimensions | 38.3mm (W) x 8.91mm (T) |
| Case material | Stainless steel |
| Water Resistance | 30 metres |
| Crystal(s) | Sapphire front and back |
| Dial | Printed sapphire, lacquer (Blue) Engraved gold, ultramarine or slate base (Dong Son) |
| Lug Width | Integrated |
| Bracelet and strap | Steel bracelet, butterfly clasp Synthetic strap, folding clasp (Dong Son only) |
| Movement | Vaucher 5401, micro-rotor automatic |
| Power Reserve | 48 hours |
| Functions | Hours, minutes, seconds |
| Availability | 99 pieces in 2025 (Blue) 80 pieces (Dong Son) |
| Price | CHF 19,500 (Blue) POA (Dong Son) |