A sleeper watch may have the external attributes of something simple and understated, but the outward appearance of this two- or three-handed timepiece conceals a highly complex (and often equally expensive) overall package. Flip a sleeper over and you have turned a coin; complication and horological extravagance abound, concealed by a sober and elegant dial.
In other words, a sleeper is the watch equivalent of the Audi RS4, which looks like a perfectly attractive dog-walker’s car of choice when in fact it’s a growling track weapon. The sleeper isn’t something that merely looks cheap but is actually expensive; rather, it is something that looks simple but is surprisingly complex. That complexity flies under most radars—including enthusiasts with more than a passing interest in watches—yet it packs some serious horological firepower.