This Underrated Dive Watch Adds an Interesting Arrow to Its Quiver

I’ve not seen this feature anywhere else before.

Formex

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By Johnny Brayson

Published April 2, 2026

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The Formex Reef, like the rest of the Formex lineup, doesn’t get the attention it deserves.

The diver is the whole package. It’s attractive, well-built, extremely capable and affordable. Most notably, the Reef is arguably the most innovative dive watch on the market, especially at its sub-$2,500 price point.

It’s packed to the gills with Formex’s trademark inventions, including the brand’s patented fine adjustment clasp and its groundbreaking interchangeable bezel system.

Now, Formex has made the 39.5mm version of the Reef even more futuristic by dropping a new version that uses lightweight forged carbon for both the dial and bezel insert.

Stainless steel Formex Reef chronometer watch with black textured dial and rotating bezel on black stones. — Forged carbon adds a new material to Formex’s innovative interchangeable bezel system.

Forged-mex

The choice of forged carbon was an aesthetic one rather than a performance enhancement, according to Formex, but I don’t see how the addition of the lightweight material could possibly be a detriment. The marbling in the carbon, created by the compression of carbon fibers with resin, creates a pattern that is unique to each dial and bezel.

As far as I know, this is the first interchangeable bezel to feature forged carbon. Formex’s previous interchangeable bezels were all in ceramic or steel, and those used by Nivada Grenchen on its Chronomaster are aluminum.

Close-up of a Formex Reef chronometer watch face with silver hands and markers on a textured black dial. — Forged carbon’s mesmerizing swirl patterns are unique on every dial and bezel.

What’s more, the new bezel is fully lumed with BGW9 Grade A Super-LumiNova, which appears to be another first as Formex’s other interchangeable bezels are only lumed at the pip. This accomplishment was no easy feat.

First, the bezel’s numerals and markings had to be engraved with a femtosecond laser that removes material without generating heat, so as not to warp the forged carbon. Then, these markings were filled with lume by hand using a pneumatic syringe under a microscope.

The bezel can be swapped out without the use of any tools thanks to Formex’s ingenious system, yet it still offers 120 unidirectional clicks, making its action indistinguishable from a traditional dive bezel.

Black Formex Reef chronometer watch with glowing blue hour markers and hands on a black strap. — The bezel’s forged carbon is fully lumed with BGW9 Grade A Super-LumiNova.

The dial is made of forged carbon to match the bezel, and its hands and applied indices sport a gunmetal finish to complement the black and gray material. Both are filled with the same blue-emission BGW9 Grade A Super-LumiNova found on the bezel. The date display at 6:00 is color-matched to the dial for minimal visual interruption, and it retains the beveled style seen on other Reef dials despite the delicate nature of the carbon material.

Outside of the presence of forged carbon on the dial and bezel, this is the same Reef 39mm as before. Its compact 39.5mm case is in stainless steel and measures just 11mm thick and only 45.5mm lug to lug. It is available on either a sharply finished, flat-link, three-row bracelet or on a variety of rubber, fabric or leather straps. Every strap and bracelet option is equipped with quick-release spring bars and the brand’s proprietary on-the-fly fine adjustment system.

The caseback is solid and screws down, as does the crown, and the water resistance is an impressive 300m. The crystal is made of sapphire with anti-reflective coating, and the movement inside is a Sellita SW300-1 automatic that’s been certified by COSC as a chronometer.

Silver dive watch with black textured dial and black rubber strap worn on a wrist with a black knit sleeve. — Because the bezel is interchangeable, you can switch up the look of your watch with ease. Here it is with a steel relief bezel.

Availability and pricing

For the level of finishing, the amount of work that’s done in-house (Formex’s family of brands includes its case, dial, bracelet and clasp suppliers) and the level of innovation on display, the Reef Forged Carbon, like all Formex watches, costs a lot less than you’d think.

On the fitted bracelet, the diver tops out at just $2,230, an all-in price that includes all tariffs, duties and shipping; everything but any local tax you might owe. On a strap, it’s just $2,085. While not a limited edition in the traditional sense, the watch’s first batch is limited to 100 pieces.

Stainless steel Formex Reef chronometer watch with black marbled dial and rotating bezel.

Formex Reef 39.5 Forged Carbon

Specs

Case Size	39.5mm
Movement	Sellita Cal. SW300-1 automatic
Water Resistance	300m

$2,230 at Formex

About the Author:

Johnny Brayson is an editor at Gear Patrol mostly covering watches. He enjoys watches that are packed with blink-and-you’ll-miss-’em details and believes nearly every watch could stand to be a tad smaller.

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