Squale Matic Review: A True Dive-Watch Heritage for the Modern Wrist

The Squale Matic (ref. REFMATICGBKBK.MRBK) is a watch that wears its history on its sleeve — or rather, on its bezel. Squale, a name that once supplied cases to brands like Blancpain and Sinn, has re-emerged as a direct-to-consumer darling for collectors who crave tool-watch authenticity without the vintage premium. This particular reference, with its glossy black dial, gilt accents, and a bezel that could double as a prop in a Jacques Cousteau documentary, is a love letter to the 1960s dive watch.

But the real question for the modern wearer is: does it survive a week of real life? I strapped this 40mm automatic on my 6.75-inch wrist and wore it through commutes, coffee spills, gym sessions, and a weekend hike. Here’s how it held up — from lug-to-lug comfort to legibility in low light, and everything in between.

Manufacture History

Squale was founded in 1959 in Neuchâtel, Switzerland, but later moved to Italy. The brand became famous for supplying robust dive-watch cases to other manufacturers, including the iconic '101' case used by Blancpain and Doxa. Today, Squale produces its own line of heritage-inspired dive watches, with the Matic series reviving the classic automatic diver aesthetic.

Movement

Inside the Squale Matic beats the Sellita SW200-1, a Swiss automatic caliber based on the ETA 2824-2. It runs at 28,800 vph with 26 jewels and a 38-hour power reserve. The movement is not COSC-certified, but Squale regulates it in-house to within -10/+20 seconds per day. In my testing, the watch averaged +6 seconds per day, with positional variance typical of this caliber. The date changes crisply at midnight, and the winding rotor is quiet. For the price, it’s a reliable workhorse.

Specifications

  • Case Diameter: 40mm
  • Case Thickness: 12.5mm
  • Lug-to-Lug: 48mm
  • Case Material: 316L stainless steel
  • Crystal: Domed sapphire with double AR coating
  • Water Resistance: 200m (20 ATM)
  • Lume: Super-LumiNova C1 (green glow)
  • Bracelet/Strap: Stainless steel bracelet with folding clasp and diver’s extension
  • Clasp Type: Folding clasp with micro-adjust holes

Wrist Feel

At 40mm wide and 48mm lug-to-lug, the Squale Matic wears surprisingly compact for a dive watch. The case is relatively thin at 12.5mm, which helps it slide under a dress shirt cuff without protest. The 20mm lugs taper to 18mm at the clasp, giving the bracelet a vintage taper that hugs the wrist. On my 6.75-inch wrist, the watch felt balanced — not top-heavy like some 42mm divers, but still substantial enough to remind you it’s there.

The bracelet is comfortable, with solid end links and a signed folding clasp that includes a diver’s extension. The clasp is a bit long (about 50mm), which might overhang on smaller wrists, but the micro-adjust holes help dial in the fit. The bezel action is crisp with 120 clicks, and the crown screws down smoothly. Overall, it’s a watch that disappears on the wrist during daily wear, which is exactly what you want from a tool watch.

Accuracy

In a week of real-world wear, the Squale Matic ran at an average of +6 seconds per day. The Sellita SW200-1 is not COSC, but this example was well within acceptable tolerances. The movement is sensitive to position — crown up added about +8 seconds, while dial down slowed to +3. For a sub-$1,000 automatic, this is solid performance. Expect to lose or gain a minute per week, which is fine for a daily beater.

Occasions

The Squale Matic is versatile enough for daily wear, sport (swimming, hiking), travel (thanks to 200m WR and robust build), and even dress (the slim profile and gilt accents dress up nicely). It’s not a formal watch, but it can pull off business casual with ease.

Wrist Presence

4/5 — The glossy black dial and gilt accents catch light beautifully, and the domed sapphire crystal adds vintage depth. It’s not a wallflower, but the 40mm case keeps it from being a wrist monster. It gets noticed without shouting.

Reference Variants

  • REFMATICGBKBK.MRBK — Glossy black dial with gilt accents, stainless steel bracelet (reviewed).
  • REFMATICBLUBK.MRBK — Sunburst blue dial with white accents, stainless steel bracelet.
  • REFMATICGBKBK.MRST — Same black dial but on a black rubber tropic strap.

Family References

The Squale Matic is part of the brand’s modern automatic line, alongside the Squale 1521 (50 Atmos), Squale 101 (vintage reissue), and Squale 30 Atmos (entry-level).

Other Notable Models by Squale

  • Squale 1521 — The iconic 50 Atmos diver with a 41mm case and helium valve.
  • Squale 101 — A faithful reissue of the original 1960s case used by Blancpain.
  • Squale 30 Atmos — A more affordable 40mm diver with quartz or automatic options.

Similar Watches

  • Seiko SPB143 — Similar 40mm vintage diver with automatic movement, but at a lower price (~$1,200).
  • Longines HydroConquest 41mm — More polished Swiss diver with ceramic bezel, but double the price (~$2,000).
  • Christopher Ward C60 Trident Pro 300 — Another microbrand favorite with 40mm case, excellent bracelet, and COSC option (~$1,000).

Homages

  • Steeldive SD1970 — Direct homage to Squale 1521 case, NH35 movement, 200m WR, ~$150.
  • Addiesdive Submariner homage — Budget alternative for vintage diver look, ~$80.

Investment Value

MSRP is $890. Pre-owned prices range from $600 to $750. The trend is stable — not an appreciating asset, but holds value well for a microbrand. Buy it to wear, not to flip. No major auction history.

Service Interval

Every 5 years. Approximate cost $250. The Sellita SW200-1 is widely serviceable by independent watchmakers; authorized service is not required.

Pros and Cons

Pros: Excellent build quality for the price, comfortable 40mm case, vintage design, sapphire crystal, solid bracelet.

Cons: Movement not COSC, clasp long for small wrists, lume could be brighter, no quick-adjust clasp.

Final Verdict

The Squale Matic is a fantastic everyday diver that delivers on its promise of vintage charm with modern wearability. It’s not a groundbreaking watch, but it doesn’t need to be — it’s a well-executed tool watch that feels right at home on the wrist. If you want a Swiss automatic diver under $1,000 with real heritage, this is one of the best options out there.