The article is behind a pay wall, so may not be accessible to most. It describes the difficulty of the Swiss watch industry in remaining (or even becoming) relevant to Millennials and younger. The article is discouraging, but not nearly as much as most of the comments!

 

Never ever read the comments.

 

Everyone and I mean everyone is trying to crack millennials. Perhaps offering more affordable watches is a start....and +1 on the comments...

 

I agree, on most sites. WSJ still has an acceptable useful/rubbish ratio, but it's getting worse.

 

From the article:

"The decline has led watchmakers to lay off hundreds of workers and buy back thousands of expensive, unsold watches, prying off their jewels and melting down their metal components."

 

Wait what?

 

When the sheen on their technology starts to wear thin, the Millennials will eventually come around and appreciate all the things that we like about our watches, and what brings us here.

 

i disagree. i read a lot of the comments and found it interesting most of the people singing the praises of expensive, mechanical watches were people buying themselves a 50th birthday present or purchased one 30+ years ago to mark some occasion. the demographic shift as it relates to this hobby is real and approaching. it will impact everything, including the vintage market. IMHO.

 

https://www.wsj.com/articles/switzerland-buys-back-its-own-luxury-watches-1481209746

 

Further, I see this as only important from an investment perspective.

If the Millennials don't eventually like these watches, then the prices will likely drop. To me, the appreciation thus far on my collection is just icing on the cake. If they don't hold their value, I'm okay with that. That's not why I got into this.

 

Hey, I am a so called Millennial and I totally dig mechanical watches. Besides I hate the term millennial. I am from 1985 and a hell of a lot more sensible that someone born in say 1992 or even worse someone from 1998... eeewwww

I get that most young people do not want to spend a lot of money on a mechanical watch. The brain is not even fully developed before you are in your mid 20’s and preferences change a lot in those years. 10 years ago I had a Seiko and went to a local jeweller to have the battery changed and did not even think it was possible to change the strap. 15 years ago it was even worse. Young people do not have a lot of money but they have a lot that they want to spend it on.

 

Given the prices on mechanical watches, I can see why market penetration and adoption with younger folks is low. The swiss can't have it both ways; high price AND mass adoption. With the younger folks they are competing for limited luxury dollars with smart phones, cars, and travel. Actually needing a watch is diminishing since EVERYONE has a phone, so the watch, especially an expensive one, is really just jewelry at this point. I don't really think smart watches will be an enduring thing, but for now they are also competing for wrist real estate.

They really need to be trying to sell watches to kids so they get used to wearing one before the phone comes in (around 10-12 seems to be the average age for a kid to have a phone in my neighborhood) and eliminates the need altogether. I wear a watch more out of habit at this point than a need for timekeeping Of course my 5 year old has one of those digital game watch things, so maybe I'm raising him wrong

I'm more worried that mechanical watches at least will require a certain number of service centers around to maintain them, lest they fail and become useless. How robust is that industry? A quartz can often be serviced at a mall kiosk, not so with a mechanical.

 

I raised a mellinial who is currently in her last year of college (thank God). In my limited experience, seeing her and her friends grow up, they could care less about technology. Technology is expected, it isn’t special to them. My wife and I would be blown away with each new car we bought (for example) with bluetooth, nav, cameras, self parking, electronic safety aids, etc. daughter could have cared less as it was almost normal or expected.

The thing is, everything is disposable to them. They don’t fix anything, they buy the new model and move on. They tend not to take care of things, again, everything is disposable. She actually wants to lease a car, reason is she doesn’t want to own it when zero warranty, she will want the new model.

It’s a very different mindset.

 

Our little snowflakes. Let them get out of the house and pay for things themselves. They might sing a different tune. I make my kid take his assigned car in for service. He is terrified at the thought of having to cover this on his own.

 

This is off in the Millennial weeds so I'll jump in.
I have 2 millennial boys. '92 and '96. Both LOVE mechanical watches and wear them daily. Probably because of me. Sadly, every time they scratch one, they call me "What do I do?"
My sister lives in Italy. Millennial daughter. Student in architecture. LOVES mechanical watches but had to recently be taught how to read an analog dial

I think there is still a trend for "mid century modern" (vinyl records, etc). Watches are jewelry and worn as a fashion statement rather than to simply tell time. Oh, they also tell time.

 

I agree with the comment that there is going to be an issue with luxury products and mass adoptions among this segment of the population. I’m not sure the picture is so bleak after that though. My sense is that there remains a market among the youthful set for authenticity and things that endure. The Swiss may need to trim the sails a bit and maybe think more seriously about entry-level offerings, but highlighting their strengths may be an inroad with this demographic. Plus, they’ve been through this before...this seems very analogous to the 1970s “the quartz are coming” crisis.

 

I dunno. Seems like the expensive, high quality watches have always been a more mature person's game, when they have a little more perspective and disposable income. Best I recall, in the 1980s and 1990s people in their 20s were mostly wearing cheap quartz.

 

....................but I always dreamed of owning a Rolex.
"If I own a Rolex, I will never need another watch"
Yeah, that didn't happen.

 

There was once a day when people bemoaned the end of the horse drawn carriage. Just sayin'.

 

My millennial Granddaughter collects old typewriters because of their "soul". "A typewriter transcribes your thoughts, not your words". The keys strike cloth much like the hammer and chisel struck stone.

A mechanical watch shows us how the parts of the universe work together and effect each other, how they perform a great symphony, how a single flaw can affect all.
A watch tells a story of the passage of time and talks to us of what it has seen and where it has been.

Millennial's are swamped with efficiencies and accelerators and changes, I admire their capabilities.
Over time, they will continue to expand and uncover basic truths, recognize patterns, find comfort in old companions.

If it's not in our old watches, so be it, it's our hobby and may not be theirs. The old typewriter companies are all but gone.
The soul of Hemingway, Rowling, Twain, Williams and thousands more may be gone but will they be surpassed? No, just different.
Will Mr. Brandt or Apollo 13 be remembered?

I will bet that 30 years from now the millennials will be commanding data with their thoughts, processing infinite possibilities in nanoseconds........while looking at an old watch and thinking of their Grandfathers and being fascinated by the little spring spinning 'round and 'round.