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Following its official announcement earlier this year at BaselWorld, Valbray has unveiled its collaborative EL1 celebrating 100 years of Leica photography. Employing the Swiss watchmaker’s Oculus diaphragm dial system – a composition of sixteen anti-friction-coated, 0.01mm thick blades that slide in and out with a turn the bezel – the EL1 takes its name from Leica founder Earnst Leitz and sees that bladed dial surrounded by a branded ring that recalls the look of the German manufacturer’s acclaimed lenses. Additional details include metallic honeycomb beneath the diaphragm, a trio of registers for the chronograph totalizers and the running seconds, a sapphire crystal caseback, open-worked rotor, automatic chronograph movement, 44-hour power reserve, and a single hour marker at the 4:30 position – a nod to the very first Leica and its fixed aperture of f/4.5. Available in two variations – brushed or blackened 46mm grade 5 titanium – and limited to just 50 individually numbered versions of each, the celebratory EL1 is set to hit Valbray retailers this June for €17,999 EUR (approximately $24,536 USD).