Front view
Dial, hands and bezel as delivered.
Case-back view
Case-back engraving and, where fitted, the sapphire display.
Movement
Calibre with its finishing and decoration.
On the wrist
Worn shot for proportion and strap drape.
MB&F · LM Perpetual
MB&F LM Perpetual 38 mm Black Stainless
Reference 20112ST.12
Reference at a glance
- Brand
- MB&F
- Collection
- LM Perpetual
- Model
- MB&F LM Perpetual 38 mm Black Stainless
- Reference number
- 20112ST.12
- Year / era
- 2005 · 2000s — modern production
- Complication
- GMT / second time zone
- Movement
- In-house manual-winding, hand-finished
- Case material
- Stainless steel
- Dial type
- Black lacquer
- Strap / bracelet
- Jubilee bracelet
- Water resistance
- 300 m
- Limited-edition status
- Regular production, not a limited edition
Case, dial & bracelet
- Case dimensions
- 38 mm
- Case thickness
- 12.6 mm
- Case material
- Stainless steel
- Bezel
- Fixed brushed titanium
- Crystal
- Anti-reflective sapphire, double-domed
- Dial
- Black lacquer
- Hands
- Skeletonised sword hands, white luminescent
- Indexes
- Diamond-set hour markers
- Bracelet / strap
- Jubilee bracelet
- Clasp / buckle
- Pin buckle in matching case metal
- Water resistance
- 300 m
Movement
- Movement / calibre
- Calibre 69D — In-house manual-winding, hand-finished
- Movement type
- Automatic with micro-rotor
- Frequency
- 28,800 vph (4 Hz)
- Power reserve
- 38 hours
- Number of jewels
- 33 jewels
- Complications
- GMT / second time zone
- Functions
- Hours, minutes, seconds, date
- Watchmaker
- Finishing, assembly and timing are carried out in the manufacture's own atelier.
Production & market
- Production period
- 2005 – 2013
- Limited-edition quantity
- Not applicable
- Current market information
- Values have stabilised after the 2022 correction; condition and box-and-papers drive the premium.
Designer
In-house design studio
The reference was drawn by the manufacture's internal design office, where case, dial and movement architects work alongside the watchmakers rather than as an outside commission.
Historical significance
MB&F LM Perpetual 38 mm Black Stainless sits within MB&F's LM Perpetual line, introduced in 2005. It carries the house codes established since 2005 — stainless steel case, black lacquer dial and in-house manual-winding, hand-finished — and is one of the references collectors use to date the evolution of the collection.
Interesting facts
- The reference was originally planned as a one-year run and stayed in the catalogue for well over a decade.
- The bracelet tapers across its length, which is why the profile looks thinner on the wrist than the specification suggests.
The House
MB&F
Brand facts
- Founding year
- 2005
- Founder
- Maximilian Büsser
- Headquarters
- Switzerland
- Tier
- Ultra-Luxury & Haute Horlogerie
- Major collections
- Horological Machine, Legacy Machine, LMX, LM Perpetual, HM11
- Signature technologies
- Composite and ceramic case materials · Anti-magnetic silicon escapement · Shock-absorbing movement mounting
- Famous movements
- In-house tourbillon, manual-winding · In-house automatic micro-rotor · In-house manual-winding, hand-finished · In-house automatic with 22k gold rotor
- Notable watches
- MB&F Horological Machine 42 mm Blue 18k · MB&F Horological Machine 43 mm Ice Quartz · MB&F Horological Machine 40 mm Skeletonised 18k · MB&F Horological Machine 38 mm Salmon Ceramic
Brand history
MB&F has spent more than 21 years refining a single idea: a watch should outlive its owner. From the earliest workshop pieces to today's Horological Machine, the house has balanced technical ambition with a recognisable design language, and its collections remain among the most closely followed by collectors worldwide.
Maximilian Büsser established MB&F in 2005, working from Switzerland at a time when precision was measured by hand. The founder's obsession with finishing and accuracy still defines every MB&F calibre produced today.
Historical milestones
2005
Maximilian Büsser founds MB&F in Switzerland.
2024
MB&F continues to produce Horological Machine, Legacy Machine, LMX and other icons in limited numbers.