Mark in Paris[Purist]
10488
Amazing thread Magnus.
Mar 10, 2016,08:23 AM
Pure Purists stuff.
Even if studies and market change permanently it is very informative and educational. Many things to follow in the coming months and years.
I guess that we'll also get "underground" opinions at baselworld about how people from the industry feel.
Of course, it is hard to know how high-end horlogy stands in that context.
I was really interested by how the Apple watch is perceived compared to a brand like Rolex. Of course people who know about what's behind a Rolex won't have the same feeling but they represent a so small percentage that it is nearly negligible. The "luxurious" feeling and status object seems to be very high for the Appel display. We only can congratulate their teams for the job. That's a clever market understanding.
If I wasn't into mechanical watchmaking (because this is what I'm looking for, precisely) then I would definitely have an Apple watch with the metallic bracelet. Even without an Iphone. It is truly beautifully designed.
About future developements, I think it is the difficult choices between cherishing and saving historical knowledge and know-how, decorations, finishing, type of complications and going for something unseen with newer materials, other types of complications etc...
I think we need both but the question today seems to be "mustn't we go the latter way in order to gain market shares and save this watchmaking industry". I absolutely have no answers.
I like what I'm looking for today (indies and traditional watchmaking) but I imagine there is room for evolution too (especially if it is "evolve or die").
This being said, I don't see why, if traditional watchmaking continues to put forward the strong historical values and skills it is known for, it won't bring new clients in the future, thus enable this "classical "side to keep on living.
I don't think it should be one or the other. However the traditional industry must be careful not to be pushed back as an old dusty place.
That's why Marketing is also important in order to promote these aspects of traditional watchmaking for they are not buried by "youth and hi-tech" stuff. What you called "conveying the message and fascination of a mechanical watch".
What a great work Magnus to be bookmarked. Thank you.
Cheers, Mark
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Huge thanks Magnus!
By: dr.kol : March 10th, 2016-07:46
It's rare to read something so well written here than your post. I need to spend an hour in the evening, read everything through and start "meditating". My gut feeling, looking at the general global economy, has been that the watch industry is heading tow...
Thanks for the wonderful info!
By: Horology75 : March 10th, 2016-07:59
Interesting to read all the factoids .. Markets are under pressure and I feel more offerings to the same target audience . Hence value for money will come in play whereby manufacturers will have to offer more to get consumers dollars .. Best ,
Amazing thread Magnus.
By: Mark in Paris : March 10th, 2016-08:23
Pure Purists stuff. Even if studies and market change permanently it is very informative and educational. Many things to follow in the coming months and years. I guess that we'll also get "underground" opinions at baselworld about how people from the indu...
Exchange rates
By: wover : March 10th, 2016-11:23
Magnus, Thanks for your elaborate and insightful post! Just a couple of remarks: If many currencies fall against one other, isn't it better to say that that currency has gone up? The Swiss willingly let the Franc get more expensive in January of 2015 and ...
Great and elaborate business report!
By: Arie - Mr Orange : March 10th, 2016-12:41
What I do not understand however, and this goes for all businesses and industries, is why a decrease in sales is always met with negativism and terms as \'crisis\'. If you have a sustainable business (model) there really isn\'t a problem is there? As long...
I never
By: tom2517 : March 12th, 2016-22:29
Believed smartwatch buyers will eventually buy into mechanical watches. Smartwatches offers completely different functionality, functions that mechanical watches cannot replicate. This is not like Rolex buyers start to move up to Patek or whatnot.
excellent summary
By: J K : March 10th, 2016-13:58
Well written thread with a lot of good points. Thanks JK
Macro- and Micro- economic spikes?
By: MTF : March 10th, 2016-14:59
Thanks Magnus for your summary. I am trying to understand how it is affected by the coincidental stimulus started by the European Central Bank today. Surprisingly, the stock markets plummeted!?! What value is confidence, I ask? Regards, MTF
At least one manufacturer has already . . .
By: Dr No : March 10th, 2016-15:53
. . . anticipated your fifth recommendation, Magnus. Omega announced cessation of spare parts to third party suppliers in '14, which went into effect at the end of last year. From now on, those who wish to have their vintage Omegas serviced will be increa...
Could be risky at the same time
By: KMII : March 10th, 2016-22:16
Many watchmakers servicing Omegas now cannot do so anymore and it could lead to vintage ones simply disappearing in drawers as opposed to being fixed and worn...
A few comments
By: jkingston : March 10th, 2016-16:18
First on the decline of the Hong Kong and US markets and the rise of Tokyo and Europe. Currency explains this easily. The Euro is in the tank. So is the Japanese Yen. So Chinese buyers have by and large cut way back on purchases in HK and US (both dollar ...
I echo Jeff's thoughts. Perfectly said.
By: agyzace : March 15th, 2016-08:10
On a macro level, the thing that is difficult to assess is whether today\'s 10year olds will register in their radar a mechanical watch or whether it will not even register, simply due to lack of exposure in real life or the media. I like to think that th...
Ups and downs
By: Ruffian : March 10th, 2016-16:18
What an essay. And great food for thought. I think the mechanical watch industry is headed for a tough time, but that's not necessarily a bad thing. It will weed out the wheat from the chaff, and force the brands to focus on honest watchmaking. On smartwa...
You nailed it
By: Horo_Traveler : March 11th, 2016-23:06
This is the fundamental issue. Swiss watchmaking is unfortunately for the most part, an artisanal craft trapped within the unrelenting growth expectations of a public company. I believe public companies have an important role to play, but for arts and cra...
Not the same product exactly
By: tom2517 : March 12th, 2016-22:32
I never understood why some people compare smartwatches to quartz watches, they are not the same thing. Quartz watches were just watches that was invented to be more accurate than mechanical watches like you said, but it doesn't offer anything more than t...
Well...
By: Arie - Mr Orange : March 14th, 2016-13:56
I think so. At least were I live the younger generation is much more involved and aware with the environment(al problems) than we ever were. So taking that into account I do feel that they are definitely concerned with durability. Regarding watches? I don...
Nice write up and detail analysis.
By: iceheller 1945 ✌️ : March 15th, 2016-07:28
Mann it took me 5mins to read through on my iPhone and kill some of my spare time. Have a lot of same sentiment with regards to using new materials on watches and watch brands needing to innovate rather coming out with same old grand complication that is ...
Thanks for thr report.
By: watch-er : March 17th, 2016-11:47
It was only a few years ago the Watch CEOs were not at all concerned about Smart Watches. Consumers would buy luxury watches when they graduate form the Smart Watches. Clearly, this was a train wreck for mechanical watches. The price point of Smart Watche...
Very good article!
By: Geo : March 18th, 2016-23:56
Thanks a lot for all the work you put into this excellent post. Personally I really wonder if the Apple watch has a lot to do with it, since I see it more as a toy to have next to a real watch. I have one myself and LOVE it, but it will never, never, neve...