Master Collection Chronograph

The Master Collection Chronograph 40mm is a flyback chronograph in a dress-watch package, powered by the L687 movement (Longines-finished ETA A08.L11) and wearing the tri-color subdial layout that immediately identifies the line. At 40mm with 30m water resistance, it sits in a useful middle ground: formal enough for a suit, capable enough to time a lap. Collectors come here for Swiss flyback function at a price well below Swiss manufacture alternatives.

What it is

Longines introduced the Master Collection Chronograph in the early 2000s as the flagship of its revived dress-watch line, with the 40mm steel reference L2.673.4.78.3 entering the catalog and running continuously to the present. The movement inside is the ETA A08.L11 , a column-wheel flyback caliber produced at ETA and finished to Longines spec as the L687 , unchanged through most of the production run. Steel, yellow gold, and two-tone variants have all been offered, with dial colors spanning silver, black, and blue across different years.

The tri-color subdial (black 30-minute register, silver 12-hour register, outer running seconds) has remained a constant visual signature. No major movement revision has occurred since introduction; what you buy today is functionally the same caliber as a 2005 example.

Buying notes

Verify the flyback function actually works: depress the pusher mid-run and the hands should snap to zero and immediately restart without a stop-reset cycle. Hesitation or sluggish reset suggests worn or dirty column-wheel components. Inspect the tri-color subdials closely for fading on the black 30-minute chapter ring, which can mottle on older examples exposed to sunlight.

The two-tone variants use a rolled-gold process on the bracelet center links, not solid gold, so check for wear-through on high-contact surfaces before paying any two-tone premium. Confirm the chronograph pushers are not sticky or mushy; they should give clean positive feedback, and gummy pushers often indicate dried lubricant that will accelerate wear if left unserviced. Finally, check the date alignment at midnight, as the L687 date mechanism can slip on worn examples.

Market read

Steel examples in excellent condition trade between roughly $1,500 and $2,500 depending on condition, box-and-papers, and dial color; blue-dial steel examples have shown consistent demand at the upper end of that range. Two-tone references carry a modest market premium over steel but are harder to move because the rolled-gold wear issue puts buyers off. Solid yellow gold variants (L2.673.8.78.3 and similar) trade separately and command materially more, though they represent a small share of available inventory.

The L2.673.4.78.3 specifically remains plentiful enough that there is no urgency; patient buyers can find excellent examples with papers without chasing.

Service expectations

The L687 (ETA A08.L11) is a well-documented movement with broad service support at both authorized Longines service centers and independent watchmakers familiar with ETA column-wheel chronographs. Longines recommends a service interval of approximately 5 to 7 years; full chronograph service including movement cleaning, lubrication, and gasket replacement typically runs $400 to $700 at an independent, more at a Longines service center. Parts availability is strong given the ETA base caliber, so even out-of-warranty examples are not difficult to service.