Sector Time Display
The case, in 18kt white gold, measures 45mm x 13mm. It has an AR-coated sapphire crystal, a sapphire display back and is water resistant to 10 meters. Individually numbered and engraved with "A LA VIEILLE RUSSIE - NEW-YORK 2011" on the caseback.
Movement is the Swiss hand-wind Parmigiani in-house caliber PF321 with 33 jewels, 18,000 vph and a power reserve of 45 hours. The main plate and bridges are hand-bevelled and the repeater strikes cathedral chimes. It features display of the hour and minutes per sector and and minute repeater complications.
The time is displayed in a half-moon aperture, comprising 60-minute indexes with each quarter-hour sector in 5-minute subdivisions. The hour (1 to 12) has an Arabic numeral display, whose progress can be tracked from the first to sixtieth minute, before the next hour appears. The module incorporates a rotary system comprising three planetary gears with four arms, each end of which bears a number. Directly meshed with the hour wheel, the set of discs is driven via a cam system, which brings up the next hour as soon as the previous one has run its course.
The dial is white mother-of-pearl and the leather strap is by Hermes.
Thanks for the info Jorge and TZ.