'Soul' is what separates 'art' from 'entertainment'...

Jan 15, 2012,11:10 AM
 

and here is where the watch industry is in great danger to get their knickers in a twist.


In the former days horological production was constrained by material and skill but also by the pride of the craftsmen and -women. You could to that, but you don't because it does not fully fulfill your own aesthetic and technical standards.

That changed (well, there are a few, perhaps two, companies who still insist on the old proudness...).

Much, too much recently has been done because its possible, not because it makes sense. The world of horology is a crowded place nowadays, and everybody is desperately screaming for attention. 

To a large extent the industry is the victim of their own success. It grew and grew, thanks a great deal to new customers. At the same time the customer base got more and more educated, also because of the existence of knowledge hubs such as this very site. And got more demanding! In-house movements and complications are mainstream now and not enough to attract interest. Many buyers are not really watch enthusiasts and its difficult to build a long-lasting relationship with them on the basis of freesprung balances and flying tourbillons.

Thus out-of-the-world complications and designs are devised and exotic materials are employed to address the very problem that oh so many watch owners plague, like the low efficiency of power generation a watch achieves when a cat sneaks her fur along the left side of the case... ;-)

In the consequence, watch companies lost a bit of touch with their inner voice, a voice that would have told them when enough is enough for the benefit of identity. Watch companies are - like any industry - managed by professional managers who (naturally) love their yearly bonus more than a fine watch - more profit rules.

Watch companies are thus very sensitive to the lure of mammon and are in great danger to prostitute themselves on the altar of sales as sales go. This is a self-enforcing cycle.

And artful industry turned into an entertainment channel. In a very recent and excellently thought-provoking thread initiated by pplater I presented my personal proposal for an healthy exit which would necessitate to take the word horology serious...:

  • Have the guts to give us a simple, well-designed and executed watch. Done in an original way this is exiting, trust me!
  • Order a ban on all hyperbole used in advertising, this is an insult to the more educated part of your audience
  • Rediscover the handicraft and skills involved in creating a watch, instead resorting to (nano-) chemical processes that are easily (and rather sooner than later) to be adopted by any me-to brands out there
  • Omit all star(let) testaments and sponsoring of 'exclusive' events for the selected few, its us who pay for this... (but for how long?)
  • Listen less to you accountants when drawing up the 2012 price lists
  • Open your hearts (and promises (and booths)) to the watch-loving audience, we are quite nice guys, mostly not a nuisance and certainly much more than cows to milk!
  • Gain insights into the essence of your brand, understand it and let it flourish instead of brabbling about its 'DNA'
  • You should not fear the words 'emotion' and 'romance'. But consider that those can't be ordered or planned - let your restraints go and you'll see!

I am saving this for spring 2013...

Cheers,
Magnus

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Comments: view entire thread

 

An Industry in Danger

 
 By: SteveH : January 13th, 2012-08:21
First a quick update. For those who don't know, I left MB&F in December to pursue opportunities outside of the watch industry. As such, I am just a regular Purist once again. My opinion clearly is not representative of any brand, and in fact I can definit... 
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Interesting Post, Steve. A few other thoughts

 
 By: jkingston : January 13th, 2012-09:27
First one correction. 10 years ago a Patek perpetual chrono did not cost $35K. List price was about double that--$70K (I am assuming you are talking about the 3970, which was the model then in existence). I share your worry about prices however. I am seei... 
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There's no question there are great products right now

 
 By: SteveH : January 13th, 2012-09:33
You know that I love watches and will continue to. But the industry is doing their best to kill the goose laying the golden eggs. Customers are leaving and not coming back. You know a lot of collectors - don't you already see the burnout? I certainly do.
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Jeff

 
 By: Mostel : January 13th, 2012-10:13
I feel that Steve was talking about something more personal than Omega movements... Omega came to mind, too, for me, when Steve mentioned 9K. But as good of quality as the Omega may be... it is a soulless watch in my opinion, utterly. Sorry! But I feel th... 
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Quod demonstrandum erit ...l

 
 By: Marcus Hanke : January 15th, 2012-10:22
" ...Look at Omega's new chronograph movement: free sprung balance, co-axial escapement, silicium hairspring, column wheel control, vertical clutch, co-axial minute and hour counters and date indication." Beyond doubt,all - or most of this - is new. But i... 
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I agree with you

 
 By: dr.kol : January 13th, 2012-09:47
and I am trying my best to focus on other fields of activities. It is quite insane that i.e. Patek's 5140P is costing the average two years net salary of an academically educated Finn. And still Finland is among the richest countries in the world. When th... 
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Thank you Steve

 
 By: Mostel : January 13th, 2012-09:57
This quote describes much more than the watch industry. "95% of the artists are untalented dilettantes who in most cases don’t even understand what art is and that it is their job to make it. " Your candor is really appreciated, it makes someone lik... 
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Where art is in watches

 
 By: Dje : January 13th, 2012-10:18
Hi Steve, I can't say I disagree with what you wrote, even if I agree largely with what Jeff wrote (if Mr Kingston allows me to call him Jeff). Yes prices are getting insane (even if those prices pay my trip to Geneva monday, I realize that). I'm an educa... 
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Very interesting post SteveH

 
 By: emcquillan : January 13th, 2012-11:18
And I have been thinking the same thing. Pricing is out of control, 99% of the products are awful and there is a massive bubble, which will take a decade or two to recover from when it bursts. That's why I buy very selectively only what I truly love so if... 
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Not calling for death of...

 
 By: SteveH : January 13th, 2012-11:55
Not calling for death of retail, just a rethinking of the approach! Some do a great job, many do not, all could benefit from some structural changes sent from my phone
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...and another bubble lurking after the first one...

 
 By: nickd : January 13th, 2012-12:01
Hi Steve, Nice post. I gave up following new watches a few years back as the prices went up in proportion to the square of the increase in their diameters, and am more than happy in the relatively sane world of clocks. I suspect there's a second bubble wa... 
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58 years later and on my wrist

 
 By: Nonpedestrian : January 18th, 2012-03:23
Was cleaning a drawer at my mother's home, found a 1950's Le Coultre Futurematic that was probably in a drawer for 20 years. Brought to my local watchmaker. He smiled from ear to ear. Few hundred dollars later, fully lubed and tuned, while lacking 50 year... 
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i think the general concensus s that prices are too high, and may not be sustainable

 
 By: Hororgasm : January 13th, 2012-12:51
but the quality of watches are in general better then a decade ago...perhaps the fun is to separate the chaff from grain. to me, my greatest peeve is those brands like Linde Werdelin who use generic movements warehoused on so so case, and selling at INFLA... 
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Lol Horogasm. We might be kindred spirits. Benders are buckets of fun [nt]

 
 By: emcquillan : January 13th, 2012-19:36
No message body
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Very true mate...:)-

 
 By: Hororgasm : January 16th, 2012-19:54
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Where is the debauchery when you want one?

 
 By: MTF : January 13th, 2012-20:43
There I was....bored to tears at home and you had DE-BAUCH-ERY? Yah Boo Hiss! I'm only a phone call away........ MTF
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Can we plan one for the end of Feb party?

 
 By: Hororgasm : January 16th, 2012-19:51
Themed as horological debauchery!! Best, Horo
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Enough of the beary hm4 ok.... LOL [nt]

 
 By: ArthurSG : January 13th, 2012-22:55
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Definitely true Steve

 
 By: ticktockforever : January 15th, 2012-03:46
I agree with your thoughts on the pricing trend of most brands. In fact, brands that are part of the bigger groups are probably the ones "guilty" of upping the pricing. Since when does a 3 handed ETA movement watch goes for $4k list? But I guess the brand... 
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That will be such a

 
 By: ArthurSG : January 16th, 2012-20:36
good fit don't you reckon. A chewy HM3, a H-Wing HM4, A couple of LM1s or whatever moniker they go by on each side of Princess Lea's head... An R2HM2 and a CPHM1... and all with a nice star wars fantasy story as a selling angle.
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Your post seems to be a good sign of this site´s independence, Horo ...

 
 By: anaesdoc : January 16th, 2012-02:27
as your "peeve" - LW - used to advertise on this page for quite a while ! Kind regards, anaesdoc
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And all to the credit of people like TM and MTF etc...

 
 By: Hororgasm : January 16th, 2012-19:47
None of the senior people here have ever instructed me or others, as far as I know, to do otherwise. Cheers, Horo
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That´s really great and precondition for this site´s future! [nt]

 
 By: anaesdoc : January 17th, 2012-03:47
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Great post Steve and an appreciated viewpoint from an "insider"

 
 By: Mel : January 13th, 2012-14:33
Thanks so much for your insight. I agree with every one of your points. I often wonder who's buying all these new watches from all these new and established watchmakers and it seems that anyone with graphic skills can CGI a watch, test the market, then se... 
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Yes indeed; some subtleties

 
 By: Nomer : January 13th, 2012-15:14
Steve, thank you for the excellent post. The watch industry today reminds me a bit of the portable tape players of the '70s and '80s. There were many versions of the Walkman, but they were all, well, tape players. A similar analogy is that the industry is... 
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Thanks for sharing your thoughts

 
 By: iim7v7im7 : January 13th, 2012-18:28
Steve, Some thoughts in response to your post... Regarding prices, yes they have gone crazy. It has been accelerated by devaluing currency and market demand. To quote Warren Buffett: "Only when the tide goes out do you discover who's been swimming naked."... 
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Thanks for all the great comments

 
 By: SteveH : January 13th, 2012-18:52
I enjoyed reading through them. It seems many of the points hit home for many people. Perhaps I should have titled point 2, point 1a. I am not calling for the death of retail. It is great to have great dealers. However, if we agree that Watches in general... 
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A very provocative post!

 
 By: Gary G : January 13th, 2012-21:14
One of the immediate thoughts that it spurred was that the very thing that a lot of collectors -- including myself -- are doing may be getting us into more trouble. I refer to the "flight to quality," in which we sell a number of modestly priced and mid-p... 
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Very interesting read, Steve.

 
 By: dxboon : January 13th, 2012-22:02
Thanks for your perspective. State of the industry aside, tell me, do you still LOVE watches themselves as passionately as you did before becoming an industry professional? Cheers, Daos
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I have more appreciation for...

 
 By: SteveH : January 13th, 2012-22:12
I have more appreciation for some and less for some. Overall I am slightly less interested now but that has nothing to do with in or out - I love the learning aspect about a new hobby and feel a bit out of that phase with this one. sent from my phone
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Certainly understandable.

 
 By: dxboon : January 13th, 2012-22:22
I look forward to your next phase in hobbies, and hope you'll share your experiences with us! Daos
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"most of this stuff is shit"

 
 By: ArthurSG : January 13th, 2012-22:56
whilke I am sure we read different meanings in to this, just on the surface level of this statement to watches, I must say I generally agree.
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'Soul' is what separates 'art' from 'entertainment'...

 
 By: Ornatus-Mundi : January 15th, 2012-11:10
and here is where the watch industry is in great danger to get their knickers in a twist. In the former days horological production was constrained by material and skill but also by the pride of the craftsmen and -women. You could to that, but you don't b... 
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I agree 100% and ...

 
 By: nilomis : January 15th, 2012-14:24
Magnus, A large portion of the current lack of soul is a simple consequence of the lack of watch education of the newcomers (or new money). If you look on the advertising material of the past, they had, give or take, an educational content. They used to e... 
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I wonder

 
 By: Roger Kint : January 15th, 2012-16:25
The prices do seem more inflated as I have walked through ADs over the years. At the same time, I have spent less time in ADs over the years because most of the watches do seem so similar with one brand or product line blending into another. However, I ag... 
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Sounds like you and I need to have another lunch, Steve! [nt]

 
 By: CaliforniaJed : January 15th, 2012-17:13
No message body
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thank you

 
 By: optionc : January 15th, 2012-22:15
Steve, Thanks for your thoughtful post. I agree w/ much of your commentary around the price increases that seem to outpace reason... but not demand. Short-sightedness by an industry that has reset it sights on 'new markets'. And an explosion of brands and... 
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"Felt" consent

 
 By: anaesdoc : January 16th, 2012-03:19
Dear Steve, I am no expert in the watch business nor in watch making, just a dedicated amateur attracted by these lovely little wrist marvels. I do not possess high-end watches like some of the folks around here, just plain, simple timepieces. So I cannot... 
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Fantastic reading.

 
 By: VMM : January 17th, 2012-04:46
I'm IN the watch industry, for five years now, and I have to agree with many of your comments and words. This post gives me wings (even more) to go ahead with a new project I have had in mind for a very long time, thanks. Best. Vte
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Same feeling with you

 
 By: Albert.J : January 17th, 2012-11:53
i was very surprised at the price when i was new to watches. what made me more surprised than the retail price was the rate of inflation and the period of inflation. some of my favourite brands (im not sure about all other brands) has been raising the pri... 
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My thoughts on price

 
 By: Albert.J : January 17th, 2012-12:11
i was very surprised at the price when i was new to watches. what made me more surprised than the retail price was the rate of inflation and the period of inflation. some of my favourite brands (im not sure about all other brands) has been raising the pri... 
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