Is this watch basically a gen movement away from being called a genestein? Or is "genestein" not something really applicable to AP offshores?
Technically a genstein or genestein refers to a watch which has been put together with gen parts and so you’re correct in your assumption that if the watch above has a gen caliber, rotor and datewheel it will qualify as a genstein.
The term can apply to any watch which falls within the same definition.
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