Introduction
In the frothy world of microbrand watches, few names have generated as much heat as Studio Underd0g. Founded in 2020 by Richard Benc, this British upstart has carved a niche with playful, colorful dials and a distinctly modern take on vintage chronographs. The Series 01 Chronograph is their flagship — a watch that has become a cult favorite among young collectors who value Instagram appeal, limited production, and a good story over heritage and in-house movements.
But here’s the thing: the Series 01 isn’t just a pretty face. It’s a serious tool watch with a manual-wind chronograph movement that punches well above its weight. With a 40mm case, a domed acrylic crystal, and a dial that screams “look at me,” it’s a watch that demands attention. And in the secondary market, it’s commanding prices that make you wonder if the hype is sustainable or if we’re in a bubble.
I’ve been tracking this model since its launch, and I’ve seen it go from a $600 curiosity to a $1,200+ flip on the grey market. Is it a smart investment? Or just a fun watch that will eventually settle back to earth? Let’s break it down.
Brand History
Studio Underd0g was born from a simple idea: make affordable chronographs that don’t take themselves too seriously. Richard Benc, a graphic designer by trade, wanted to create watches that were fun, colorful, and accessible. The brand’s first release, the Series 01, dropped in 2020 and sold out almost instantly. Since then, Studio Underd0g has released limited batches, each with new dial colors, building a loyal following that rivals much older microbrands.
The brand is based in the UK, but the watches are assembled in China using Swiss and Chinese components. The movement is the Seagull ST1901, a Chinese-made column-wheel chronograph that’s a direct descendant of the Venus 175. It’s not in-house, but it’s a proven workhorse that’s easy to service and cheap to replace.
Movement Analysis
The Seagull ST1901 is the heart of the Series 01. It’s a manual-wind, column-wheel chronograph with 22 jewels, a 38-hour power reserve, and a beat rate of 21,600 vph. The movement is visible through a display caseback, decorated with Geneva stripes and blued screws. It’s not haute horlogerie, but it’s attractive and functional.
In practice, the winding action is smooth, and the pushers have a satisfying click. The chronograph starts, stops, and resets reliably. The lack of hacking seconds is a minor annoyance, but for a chronograph, it’s not a dealbreaker. Accuracy is average — expect +15 to +25 seconds per day out of the box. A quick regulation can bring it to within +5 seconds.
Specifications
- Case: 40mm stainless steel, 12.5mm thick, 48mm lug-to-lug
- Crystal: Domed acrylic
- Water resistance: 50m
- Lume: Super-LumiNova C3 (green) and custom red lume on Watermelon dial
- Strap: Leather or NATO, 20mm lug width
- Clasp: Pin buckle
The acrylic crystal is a deliberate choice — it gives the watch a warm, vintage look and keeps weight down. But it scratches easily. A tube of Polywatch is your friend. The 50m water resistance is fine for splashes but not for swimming. This is a desk diver, not a dive watch.
Wrist Feel and Presence
On the wrist, the Series 01 is a joy. The 40mm case wears smaller due to the short lugs, and the 12.5mm thickness is well-proportioned. The acrylic crystal adds a slight distortion that’s charming. The watch is light — around 60g on a strap — so it’s comfortable for all-day wear. The leather strap is soft and breaks in quickly, though some collectors prefer a NATO for a more casual look.
The dial is where the magic happens. The Watermelon variant (green dial with red subdials) is the most sought-after. The colors are vibrant, and the red lume on the subdials is a unique touch. The Desert Sky (blue and orange) is a close second. These are not subtle watches — they demand attention. But they do it with style, not aggression.
Accuracy and Daily Use
Out of the box, expect +15 to +25 seconds per day. That’s within spec for a Seagull ST1901. If you’re a stickler, a local watchmaker can regulate it to +5 seconds for about $50. The 38-hour power reserve means you’ll need to wind it every day if you wear it, or every other day if you rotate. The crown is easy to grip, and winding is smooth.
The chronograph function is a joy to use. The column-wheel mechanism provides a crisp start/stop and a clean reset. The 30-minute counter at 3 o’clock and the small seconds at 9 o’clock are easy to read. The lack of a date complication keeps the dial clean and symmetrical.
Occasions
The Series 01 is a daily wearer for the bold. It works with casual outfits — jeans, t-shirt, hoodie. It can dress up with a blazer, but the colorful dial might clash with formal attire. It’s not a dive watch, so leave it at home for pool parties. It’s perfect for coffee shop meetings, weekend brunches, and Instagram wrist shots.
Reference Variants
There are four main variants: Panda (white dial, black subdials), Reverse Panda (black dial, white subdials), Watermelon (green dial, red subdials), and Desert Sky (blue dial, orange subdials). The Watermelon is the most hyped and commands the highest premium on the secondary market. The Panda is the most versatile and often the easiest to find at retail.
Investment Value
At an MSRP of $600, the Series 01 is a steal. The secondary market has seen prices climb to $700-$1,200, with the Watermelon variant often hitting $1,200. The trend is appreciating, driven by limited drops and growing brand recognition. If you can get one at retail, hold it — it’s a fun watch that’s likely to hold its value or even appreciate. But don’t expect Rolex-level returns. This is a microbrand, and hype cycles can be fickle. If you’re flipping, sell within the first year after a drop for maximum profit.
No major auction history, but private sales on Reddit and Chrono24 show consistent premiums. The brand’s limited production (often 100-200 pieces per drop) ensures scarcity.
Service and Maintenance
Service interval is every 5 years. Cost is around $250 at an independent watchmaker. The Seagull ST1901 is widely serviced, and parts are cheap. No need for authorized service — any competent watchmaker can handle it. The acrylic crystal can be polished with Polywatch for $10.
Pros and Cons
Pros
- Stunning, unique dial colors that stand out in any collection
- Excellent value at MSRP — a genuine column-wheel chronograph for under $1k
- Lightweight and comfortable for all-day wear
- Strong community and resale demand
- Easy to service and maintain
Cons
- Acrylic crystal scratches easily
- 50m water resistance is limiting
- Movement accuracy is average out of the box
- Limited availability — hard to get at retail
- No hacking seconds
Final Verdict
The Studio Underd0g Series 01 Chronograph is a triumph of microbrand watchmaking. It delivers a genuine column-wheel chronograph with a personality that’s hard to find elsewhere at this price. The hype is real, but so is the quality. If you can snag one at retail, do it — you’ll enjoy wearing it, and you can flip it for a profit if you get bored. Just don’t expect it to fund your next Patek.
For the trust-fund-baby buyer: this is a low-risk, high-fun addition to your rotation. Buy it, wear it, and when the next drop comes, sell it to fund the next hype piece. That’s the game.
