In the ‘70s and ‘80s, Swiss watchmaking was decimated by the so-called “quartz crisis.” Japan began selling more accurate watches for a fraction of the price, powered by a quartz crystal and a battery. The Swiss responded by doubling down on the high-end mechanical market, adopting alpine-high pricing and limited supply as a business model. Today, some mechanical watches sell for millions. 60 Minutes’ Jon Wertheim checks out a timepiece priced at $2 million that is somehow just 1.75 millimeters
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In the ‘70s and ‘80s, Swiss watchmaking was decimated by the so-called “quartz crisis.” Japan began selling more accurate watches for a fraction of the price, powered by a quartz crystal and a battery. The Swiss responded by doubling down on the high-end mechanical market, adopting alpine-high pricing and limited supply as a business model. Today, some mechanical watches sell for millions. 60 Minutes’ Jon Wertheim checks out a timepiece priced at $2 million that is somehow just 1.75 millimeters
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In 1974, Japan didn’t just make watches, they changed time itself. ⌚🇯🇵 The Quartz Crisis nearly wiped out the Swiss watch industry, all because of one invention from Seiko. Mechanical to battery-powered, luxury to affordable… this was the revolution that made time tick differently forever. #quartz #quartzcrisis #watches #luxurywatches #seiko #swisswatch #indianvlogger #japantravel | Boyonglobe
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In 1974, Japan didn’t just make watches, they changed time itself. ⌚🇯🇵 The Quartz Crisis nearly wiped out the Swiss watch industry, all because of one invention from Seiko. Mechanical to battery-powered, luxury to affordable… this was the revolution that made time tick differently forever. #quartz #quartzcrisis #watches #luxurywatches #seiko #swisswatch #indianvlogger #japantravel | Boyonglobe
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