The Formex Reef 39.5mm “Bahama Blue” (SKU 2201.1.6367.910), nicknamed the “Baby” Reef, is the downsized version of Formex’s 42mm Reef dive watch. Its 316L stainless steel case measures 39.5mm in diameter, 11.0mm in height and 45.5mm from lug to lug, with a 22mm lug width, and the case alone weighs 75g. The light blue dial is made in Formex’s own dial workshop in the Swiss Jura: a coloured lacquer is applied over a mirror-polished surface, then seven coats of transparent lacquer are layered and polished down for a deep shine. Gun-metal, hand-applied triangular indices and broad hands are filled with Super-LumiNova BGW9, under a sapphire crystal with anti-reflective treatment. The watch is powered by a COSC-certified Sellita SW300-1 automatic movement with 25 jewels, a 56-hour power reserve and a custom skeletonised rotor with thermally blued screws. Water resistance is 300 meters, with a screw-down crown.

The Reef shows hours, minutes, central seconds and the date in an angled window at 6 o’clock with a colour-matched date wheel. Its 120-click unidirectional bezel carries a “Bahama Blue” zirconium oxide ceramic insert, polished with diamond paste and with numerals hand-filled in black resin, and it can be pulled off by hand and swapped for one of the other Reef 39.5mm bezels (blue, black, green or steel). It comes as standard on a black rubber strap with Formex’s carbon-fibre composite deployant clasp and patented micro-adjustment of up to 7mm, and is also offered on a stainless steel bracelet with screwed links and the same fine adjustment. Every strap and bracelet uses Formex’s tool-free quick-release system. Formex lists the Bahama Blue at USD 2,085 on rubber.

Reviewers welcomed the 39.5mm Reef as a more wearable take on the substantial 42mm original, with Fratello noting that Formex had also refined the finishing on these models. Hands-on coverage singles out the crisp 120-click ceramic bezel that can be changed in seconds, the tool-free micro-adjusting clasp and the thin 11mm case for a COSC-certified 300m diver, and it is often cited as one of the best-value Swiss dive watches under $2,000. Formex re-tests the rate of every certified movement after assembly. The Bahama Blue is currently shown as completely sold out on Formex’s official store, while the other Reef 39.5mm dials remain available.