Wednesday, March 23, 2016

Trench Watches' 100th Anniversary, Part II

By Bruce Shawkey

In the evolution of the man’s wristwatch from a novelty to a rugged piece of military hardware, several components of the wristwatch needed to be improved or, in some cases, invented. Let’s take a look at each of those components now. In this installment, we'll look at movements and dials. Cases, crystal guards, and bands will be examined in the next installment.

Movements.  Of all the movement sizes available by American manufacturers at the time, the war department decided that the 3/0 size was the most optimal size for a man’s wristwatch. Other sizes were certainly available, and we see surviving examples today, including 0-size, the 6-size, and even up to a giant 12-size in rare instances. But I would say that most of these larger sizes were seen on officers’ watches that were bought and paid for by the officers themselves. For the military issued watches for your average “grunt” on the ground (and the few pilots in the air) the 3/0 was the size of choice. Three companies --- Elgin, Waltham, and Illinois – made 3/0 movement that had proven reliable. Let’s see what effect the war had on production.


Click on this image to see it full size

Here is Waltham’s 3/0 grade 365, probably the most used movement in Waltham trench watches. Look how production spikes in 1917 to 45,000 units from 7,550 the year before.

Click on this image to see it full size

Here’s another Waltham movement, the 3/0 size grade 310. Production spiked from 21,000 units in 1916 to 40,000 units in 1917.

Similar spikes in 3/0 size production can be seen with Elgin and Illinois. Hamilton, by the way, was not in the game. They had just introduced a 0-size wristwatch in 1917 and produced them in very limited quantity, just 500 units in 1917. They did not offer a wristwatch with a 3/0 size movement.

Before we move on to the next component, you should be aware when considering a trench watch purchase that the AGE of the movement, as reflected by the serial number on the movement, must be consistent with war time production. With Waltham, for example, serial numbers should be somewhere between 20,900,000 and about 22,000,000. Serial numbers can be easily found for all American watch companies on a number of online databases. Nothing kills the value of a trench watch to a true collector than a transplanted movement from a different era. Unfortunately, this occurred all the time, and still occurs to this day. Watchmakers would routinely transplant movements in customers’ watches where the existing movement was too much bother to fix. And the practice, unfortunately, persists to this day by dealers and careless collectors who replace movements with age-incorrect ones, or make up a watch using pieces from disassociated watches.

By the way, there is nothing wrong or incorrect about transplanting an AGE-CORRECT movement into a watch whose current movement is beyond repair. This is restoration, as opposed to jury-rigging, and it is performed all the time with collectibles across the gamut. It would be no different than replacing an engine in a Model T Ford with another factory-made, age-correct Model T engine. You would not, however, replace a Model T engine with the Ford Flathead V8 from a 1932 Model B Roadster! You get the idea. In any event, be aware of “put-together” watches in this genre. Perhaps no other types of watches have been so “fiddled with” than trench watches, due in great part to the fact they have simply been around longer than any other wristwatch!

Dials. At first, 3/0 movements were used in ladies wristlets or pendent watches. Dials were white enamel with fairly delicate Arabic or Roman numerals. The first wristwatches for men often kept the same dials, so this is perhaps one more reason wristwatches were considered too feminine for men.

Typical dial from an early man's wristwatch


But as the war clouds gathered and it became evident that America would join in the Great War, dials for men’s watches became bolder to make them easier to read. Watch manufacturers, including Waltham, Elgin, Illinois and Hampden came out with dial designs with larger, heavier numerals. Minute tracks became bolder to more easily tell time to the minute. Hour, minute and second hands became fatter with a more masculine look.




The most widely manufactured dial, however, and the one specified by the U.S. military, was the luminous dial for its ability to be read in the dark. This is the dial (below) you will see most frequently on World War I trench watches. Notice how much of the old luminous has flaked off the dial. This is perfectly normal, and many collectors prefer original dial to having the dials "re-lumened," but this comes down to a personal choice by the collector.



To be continued.

Want to learn more about WWI trench watches? My good friend and fellow historian, Stan Czubernat, has recently published his second book on Waltham WWI trench watches to compliment his first book on Elgin trench watches of the Great War. Together, these two volumes comprise a wealth of information about trench watches. The books are "must-haves" if you are thinking of collecting these great old watches. Click on the image below to obtain ordering info, and also have a look at the watches Stan has for sale.

 click on the image to go to the website



Monday, March 14, 2016

Trench Watches Mark 100th Anniversary; NAWCC Bulletin Status

By Bruce Shawkey


This blog entry is adapted from a lecture, “Happy 100th Birthday Wristwatch” that I presented at the NAWCC 2016 Mid-Winter Regional in Lakeland, Fla., on Feb. 13. The lecture was not video recorded, and there were only about 12 people in attendance. So I am publishing it here in three parts to give it a little wider exposure. I hope you enjoy it.

The 100th anniversary of the trench watch (the archetype of modern man’s wristwatch in my opinion) is right around the corner in 2017, and I thought I would give my readers a little “heads up” notice. Why? Because I think the value of these early wristwatches is going to jump in the next year in conjunction with the 100th  anniversary of World War I. It wouldn’t be the worst idea in the world to pick up a few of these watches before prices increase. The media will no doubt hype the war’s centennial anniversary and cover all facets of it, including wristwatches. All it will take is for Brad Pitt or Christian Bale or some other big star to wear a period watch in some blockbuster movie, and thousands of movie fans will suddenly want a trench watch! Meanwhile, the glossy watch magazines will be all be all over this significant anniversary, and I have little doubt that watch companies will come out with reproductions, which will only increase the value of actual trench watches.

Now I know what many of you are already thinking: The man’s wristwatch is already a good century old and then some. And you’d be correct. Many of us have heard the stories of wristwatches being used by soldiers in the Boer war (1899-ish), and seen pictures of British infantry units wearing wrist-type watches (some going as far back as 1879).

Officer in middle of front row is clearly wearing some type of watch strapped to his wrist.
Source: National Army Museum, London


And we know that Elgin introduced its first fully finished man's wristwatch in 1911, with Waltham following in 1912.



 Elgin left and Waltham right. (Source: author’s image collection)


We also know that Europe was a few years ahead of America in introducing finished watches to the public, notably Omega and Longines, in the 1905 -- 1910 area.



Early wristwatches by Omega and Longines
(Source: author's image collection)

So I am ready to concede that men’s wristwatches appeared before 1917. But I would argue that wristwatches for men up to that point were little more than a novelty … specialty items for tennis, sporting, motoring, or technical applications. They were fragile; some even called them “toys.” And, most of all, wristwatches were considered feminine. Few self-respecting gentlemen of the day would be caught dead wearing one as an everyday timepiece. In fact Hamilton, which by that time had established itself as the timekeeper of railroad accuracy, steadfastly refused to even offer such a watch for sale.

All of that that changed in 1917.

It is no small coincidence that this anniversary also coincides with the year in which America entered the war, and what had been called the “War in Europe” was now World War I. As is the case so often, war is the catalyst by which public tastes and values change, and technology advances or at the very least shifts in some way. Think about most any invention – from M&Ms and microwave ovens, to global positioning systems and antibiotics, and you can trace their roots to the military.

But I digress. It was the outbreak of World War I that brought the wristwatch out of obscurity and into the mainstream. This is certainly well known among watch historians. But I don’t think it’s ever been well documented just how quickly and dramatically the man’s wristwatch changed in just two short years, from 1917 to 1919, to become more masculine looking and indeed the archetype for the basic man’s wristwatch that we know today, 100 years later. So let’s take a closer look.

First of all, how did the necessity for a wristwatch come about? The war in Europe had been raging since 1914. Many of the techniques and hardware of traditional warfare up to that time had proven ineffective in this new form of trench warfare. This was the first mechanized war in which motorized vehicles – tanks, troop carriers, and ambulances -- replaced horses and wagons. Long rifles proved cumbersome in tight quarters. And perhaps for the first time, it was necessary for coordinated movement of troops that might be scattered along a zig-zag trench or isolated from one another. It would be completely inefficient and unwieldy for a soldier to reach into a pocket for a watch. The time had come for a wristwatch suited to the trenches, and the American military needed thousands and  thousands of them … and quickly.

Several components had to come to together to make this new "trench watch," and we’ll look at those components in the next installment.

Resources: My good friend and fellow historian, Stan Czubernat, has recently published his second book on Waltham WWI trench watches to compliment his first book on Elgin trench watches of the Great War. Together, these two volumes comprise a wealth of information about trench watches. The books are "must-haves" if you are thinking of collecting these great old watches. Click on the image below to obtain ordering info, and also have a look at the watches Stan has for sale.



NAWCC Bulletin "Wristwatches" column

It is with regret that I announce I am no longer writing the the "Wristwatches" column for the Watch & Clock Bulletin, the bimonthly journal of the  National Association of Watch & Clock Collectors. It has been a great run for the past 19 years. But under new editorial leadership, the publication has adopted new policies and procedures with which I do not agree. I hope you continue to enjoy my work in this and other venues.

Wednesday, June 18, 2014

Showers and Watches Just Don't Mix

There are two occasions where a man (or woman) should never wear a watch.
 
One is while making love. (It's just bad form.)
 
The other is while in the shower. It's just an all-around bad idea.

And if you're wearing a watch while making love in the shower, please exit this blog immediately and tune in to the all pro wrestling TV channel, because this is going to be way over your head.

So let's just focus on the shower. I am continually asked if a certain watch I am selling (a vintage watch, no less, because that's all I sell) is OK to wear in the shower, bathtub, or whirlpool.  Here's a recent example, from an eBay buyer who was thinking of bidding on a  near mint condition circa 2000 Zodiac Sea Wolf of mine:

Hello:
Regarding your Sea Wolf, I want to be able to wear the watch when I take a shower. I guess I expect that level of waterproof from a dive watch. Is there a reason I should know about that you made the statement that you do not guarantee the watch to be water resistant? Are you just covering your self? Do you think the watch will be OK for everyday use, including showering?

Thanx

James

I replied and also posted this response in the auction:

James: Yep, it's definitely a CYA (cover your a**) thing. Even though the watch is close to new old stock condition, you have to remember that the seals and gaskets in the watch are probably 15 years old or more (I estimated late 1990s or early 2000s for date of production). So I couldn't guarantee that the watch would be good for showering. I think the watch is fine for the occasional splash, getting caught in a rainstorm, perspiration, and so forth. But I can't/won't guarantee it against a constant, sustained shower of water

Sorry,

Bruce




OK, let's for a moment set aside the whole "how lazy/ADD/OCD do you have to be to need your watch in the shower?" types of questions, and just look at the practical reasons why not to:

1. Water resistant watches, even diver watches, are built for cold water, not hot, and not for steam. Hot water and steam soften gaskets, and steam can get into places water can't. Many are the stories I've heard of people with a brand new diver watch seeing fog under the crystal after repeated use in the shower.
2. Soap and shampoo also soften/dissolve seals and gaskets.
3. You can't thoroughly wash the area of your wrist covered by the watch, which tends to be dirty and/or sweaty anyway from being covered with the watch. Kind of like showering while wearing an athletic cup. (Sorry; too graphic?).

Points one and two go double for a vintage watch, even one that was originally "waterproof" or water-resistant from the factory. Over time, the seals and gaskets have become brittle and/or have shrunk, and whatever "water resistance" may have been there to begin with is now severely compromised.  It amazes me that anyone would even think of taking a vintage watch near water. It's a little like using a restored 1956 Chevy Bel Air to haul garbage to the dump, I mean, yeh, it's possible, but why would any sane person do it?

Now, onto the weird rationalizations guys (in particular) use to justify showering avec montre-bracelet:

1. I don't want lose it. Good God, man, it's not like your watch is the size of your wedding band, especially today's manhole-cover-sized watches. Put it next to your toiletries on the sink, or on the hook below your towel. The wear and tear on your watch aren't worth it.
2. Someone might steal it. Um, here's a thought: If you're in a public place like a gym, lock it up in your locker. If your watch is that valuable that someone might steal it, why would you subject it to undue wear-and-tear in the shower?
3. It looks cool. Honestly, Bubba, who are you trying to impress? Are you trying to be like 007 or Jason Bourne? Well, stop it. I've seen the movie scenes, and both Daniel Craig and Matt Damon look equally ridiculous wearing their watches in the shower.

So c'mon guys. Take it off. Your watch doesn't belong in the shower. Next to texting while driving, it's probably the dumbest idea ever. Your wife/partner/lover will not think you any less (or more) sexy if you exit the shower with a bare wrist. If you've got a body like the guy above, the wristwatch isn't going to make a damn bit of difference. And if you've got a body like mine (think Jack Black, only more body hair) it's not going to make a difference, either!

Cheers,

Bruce



Monday, May 26, 2014

Hitting Paydirt in Oklahoma

I just returned from a successful buying trip in Oklahoma City ... 980 miles each way from my hometown of Evansville, WI.

Which is good because I gotta tell you, and with apologies to the 650,000 people that call this place home, the city itself was kind of a downer. The primary industries there are based on agriculture and energy (oil and natural gas) so the city has a very industrial/agricultural "feel" to it. Nearby Tinker Air Force Base, which employs 6,000 military and civilian personnel, adds elements of high security and miles upon miles of barbed wire fencing. The two main traffic corridors through the city -- Interstate 35 and Interstate 40 -- are a nightmare to navigate, with frontage roads that often require one to exit past a desired destination, turn around, and exit from the other side of the Interstate.

My motel, a Day's Inn facing Interstate 35, was adequate, but I have never in my life seen an Interstate exit so totally bereft of any restaurants within walking distance. There is almost always at least one or more of the "usual suspects" at any Interstate exit located within a major metropolitan district ... a Denny's, Waffle House, an IHOP ... that will do in a pinch if you simply need to put something in your stomach. But the closest eateries of any kind required hopping on the Interstate, and doing a crazy loop-de-loop to get back. The good news is that the place was only $45/night, proving once again the old adage that you get what you pay for. And for what I required of a motel while there -- basically a place to flop -- it was fine. 

Add to that 90 degree (or better) heat each day I was there, with a near constant 20 mph wind blowing out of the south. So it was like walking around in a convection oven, not that I was out in it much. And it didn't help that my arrival coincided with the one-year anniversary of the tornado that wiped out Moore, Okla., just down the road from me, which was plastered all over the local news. And of course the coup de grace: Reminders of the 1995 Federal Building bombing are everywhere, including a national memorial and museum. Now there's a real upbeat attraction for you.

Fortunately, I hit a few good restaurants for dinners while I was there -- an authentic '50s cowboy café in the old stockyard district, a good rib joint, and an Italian place that served a fair facsimile of NY-style pizza. But a few good restaurants alone would not provide an incentive for me to hop in the old Prius and return to this city stuck smack dab in the middle of Tornado Alley.


You wouldn't think this a likely location for a watch dealer/collector looking to sell out, but here he was, born and raised here, with parents born, raised, and buried here. A genuine Okie. And since he didn't want to mail the stuff, or travel to see me, I had to come to him. I was rewarded with a nice cache of perhaps 200 or so watches, plus about the same number of movements, and various parts, watch bands, etc. All the stuff that I like ... affordable, middle of the road type stuff. Some will be on my website soon, a lot will end up on eBay, and I'll be taking a big box of the stuff to the National for my mart table. The seller seems to be having a little case of seller's remorse, so I am still trying to smooth things over. It's just going to take a little patience. The guy is definitely a few bricks shy of a full load, but I've known him for years and he just takes a little extra massaging. Not that I swindled the guy by any means, in fact quite the opposite. I was quite generous with him because I know he is in financial straits.

Thursday, May 1, 2014

NAWCC Library Archives Reveal Mido Treasures

Die-hard collectors of vintage Mido wristwatches are no doubt aware that the company produced a series of novelty watches in the late 1920s with cases modeled after the radiator grills of various cars produced at the time, including Buick, Bugatti, Fiat, Ford, Excelsior, and Hispano-Suiza:


These models are highly prized by not only vintage watch collectors, but car collectors as well. What you may not know (or at least I didn't) was that Mido was famous for producing numerous novelty watches through the years. I uncovered several of these during a visit this past week to the NAWCC Library & Research Center in Columbia, Pa. I try to visit the library every couple of years or so to mine raw date for my articles and, now, my blog. My visit this time around gave me a chance to meet the new Library Director, Sara Dockery, as well to visit with Nancy Dyer, Librarian/Archivist and longtime friend. I also got a chance to meet the the new Watch & Clock Bulletin Editor, Monica Elbert, with whom I was very impressed and am confident will carry on in the best tradition of the magazine, and add her own unique interpretation to it as well.

These latest watches were unearthed by going page-by-page through old issues of the Swiss Horological Journal (SHJ) from the 1920s, '30s, and '40s, which are kept in bound form in the Library's archival section. This blog entry (and more to follow) shows just how valuable this resource is to NAWCC members. The portion of NAWCC members' dues that goes to preserve this resource is money well spent and, sadly, is an under-utilized resource by members. Seriously, if you're an NAWCC member, and your travels take you anywhere near Columbia, Pa., stop in and pay a visit to the Library and Research Center. Visit, don't call! Treasures await the person who is willing to browse in person!

Anyway, the first little treasure I found was the Mido "Radiotime," described in a 1940s volume of SHJ:


It is described in the magazine thusly:

"We wish to draw our readers' attention to a new watch which has come at the right time: the Mido Radiotime, presented by Mssrs. Mido S.A. of Bienne. Every day, millions of people listen the time signal given over the radio or telephone by different observatories. They set their watches as best they can, naturally with more or less precision as no watch, up to now, has allowed the exact registration of the time signal.

"The Mido Radiotime fills this gap: is is the first watch rendering possible the simultaneous registrations of the exact time, (minute and second) by simply pressing a pusher fitted in the crown. This can be done four times per hours, each 15, 30, 45, and 60 minutes. It's functioning is very simple and exact, the three hands are immediately and simultaneously adjusted on the moment desired.

"In this era of the radio, the mew Mido creation will certainly be warmly welcomed."

The watch has pictured in the annual "Complete Price Guide to Watches," but its operation has never been explained, nor have I even encountered one. If you have one of these watches, please contact me with any further information you may have.

Mido also produced a series of encapsulated/hermetic watches, some of which are shown below from a 1936 issue of SHJ:


Three more models of encapsulated pocket watches were created for poker and domino aficionados and shown in a 1937 SHJ issue:



as well as a more more generic model that would be worn as a fob:


Also, many collectors may not know that Mido created a number of more traditional chronographs in addition to the "Multicenter Chronograph" that most people are familiar with, where all the hands of the watch and chronograph are mounted on the center post. Here are three more traditional chronograph models shown in a 1937 issue of SHJ:


Last, but not least, I draw your attention to a little-known encapsulated pocket watch with cutout bezel that Mido made for a while under the model name "Melik Mido." I contacted the company a few years back, and they assured me, having gone so far as to consult with a surviving member of the the founding Schaeren family, that the company never made such a watch. But evidence points to the contrary, as I found not one, but two, mentions of the model in a 1935 issue of SHJ:


I have an example of the lower model in my own collection, which led me to contact the company. You will notice in the upper example that the world "Melik" was hastily blocked out by SHJ editors prior to printing the magazine. However, they missed the "Melik" in the lower example. My guess is that shortly after producing this model, the company decided to pull it. Why, we do not know. And we have no explanation as to the meaning of "Melik." A Google search of the word reveals that it is principally a word of Armenian origin, indicating a noble title. But in any event, this evidence confirms, at least in my mind, that Mido did produce this watch, if only for the briefest period of time!

I hope you have enjoyed this little journey through some of the more unusual models produced by this great watch company, now owned by the giant Swiss watch conglomerate, Swatch Group.

Bruce








Tuesday, April 22, 2014

Shinola CEO hints at possible mechanical watch

A Shinola mechanical watch could soon be a reality, according to Steve Bock, CEO of Shinola, Detroit, makers of quartz watches, bicycles, leather goods, and soon furniture.

In an interview at Baselworld 2014, Bock told me that the pieces to the puzzle are basically in place; it's just a matter of timing (no pun intended), and how a mechanical wristwatch fits into the company's overall vision of being a "design company" and not just a "watch company."

Steve Bock


"Where we will obtain the mechanical components, and how we will retrain our assembly staff will be two big issues," says Bock. "But we have no reason to believe that either will be a stumbling block. With our success so far, we have people knocking at our door to help us in any direction that we wish to go."

Shinola's big news at Baselworld 2014 was the announcement of their new limited lifetime warranty, which goes into effect not only for all new Shinola quartz watches sold, but is retroactive for all watches sold previously. In case of defects, all components (excluding battery, leather strap and buckle)  are covered by the warranty, and will be repaired (or the watch will be replaced) free of charge. If the exact model is not available for replacement, a watch of equal value and similar style will be provided. A copy of the receipt and/or your completed warranty card is required as proof of purchase. A check or money order payable to Shinola/Detroit, LLC in the amount of $25.00 as service and handling fee must be included for all warranty and repair services. The fee is subject to change.

A "Runwell" model from the company's collection.



Shinola says the warranty is unique in the industry, and Bock says it speaks to the confidence not only in the watches themselves, but to the company's confidence of being around for a very long time.

Another issue will be price. Shinola's current entry level price for a quartz timepiece is about $500. While Bock declined to get into specifics, it's a sure bet that a mechanical wristwatch could not be produced at that price level, at least not one of any quality. Currently, the entry price for a man's watch with a Swiss-made automatic mechanical movement is about $1,000.

"It (producing a mechanical watch) is over the horizon, but not that far over the horizon," says Bock. "If you come back and talk to us a year from now, I think we would have a more specific answer for you."

Shinola's next big announcement will be its launch into the furniture business, which will bring back a manufacturing sector long crippled in the USA by migration of that industry to Asia. The move is designed to further enhance Shinola's goal of being known as a "design company," rather than just a watch company, though watch sales currently make up about 85% of Shinola's business, according to Bock.

Look for my complete story on Shinola in the May/June issue of the NAWCC's Watch & Clock Bulletin, out in about a week.

Bye for now,

Bruce

Wednesday, April 2, 2014

"We're All Mad Here ..."

... said the Cheshire Cat to Alice, in the Lewis Carroll classic, when she lamented that she didn't wish to mingle among the crazy. In describing my impressions of the current-day watch market. I have to say I feel a little bit like Alice who fell into the rabbit hole and landed in Wonderland.

I certainly do not wish to bite the hand that, literally, fed me this past week. As an accredited member of the media, I was well cared for by the folks at Baselworld 2014 (BW2014): complimentary admission (worth $165 all by itself); soup, sandwiches and beverages every day for lunch (saving me from a fate of energy bars that I had brought from home to avoid the mafia prices for food by the fair concessioners); and a very nice media center with work stations, Wi-Fi, and restrooms.

But I have to be honest: Prices for new watches are simply ridiculous.

I knew going into BW2014 that prices on new mechanical watches are incredibly higher -- sometimes by a factor of 10 times or more -- than a vintage piece by the same manufacturers.  I gladly concede that some of this is due to better materials (both movements and cases), and just plain old inflation. A nice Omega Seamaster in stainless steel that cost $145 in the year 1955 would be roughly equivalent to $1,266 in 2014.

But try to find an Omega Seamaster in the 2014 catalog for anywhere near that price. The most basic stainless steel Seamaster with an automatic movement and a leather strap will run you about $5,400 at full manufacturer's suggested retail price (MSRP).

And the reason for that became abundantly clear at BW2014:

Marketing.

I have no way to prove this, but I feel fairly certain that once upon a time in the not too distant past (let's say the 1950s) that marketing/advertising made up 10 or maybe 15% of a watch's retail price. Today, that percentage is 50% or better for the vast majority of the brands (with a few exceptions), and I challenge anyone to prove me wrong. An industry insider at BW2014 told me, off the record, that it's not unusual for a watch company to take their total cost of the actual material that goes into a watch, and multiply that by a factor of eight or even 10 to arrive at MSRP.

Modern watch marketing is filled with components that company founders and their second- and even third-generation heirs could not possibly have imagined ... celebrity endorsers, high profile (and high cost) sports sponsorships, movie tie-ins, and image advertising in high priced luxury magazines. One watch company, Jacques Lemans (which I have never heard of, by the way), is using Kevin Costner as its celebrity endorser.

Kevin frickin' Costner.

I mean, c'mon Kevin. You're a likable enough guy. Loved you in "Dances With Wolves," and "Tin Cup," among other movies. But for Christ's sake, stick to what you know, will you? Did you really need a quarter million dollars (or whatever they gave you) and a free watch?

So I really don't know where this is all headed, but I'm of the firm belief that the Swiss watch industry, after nearly being extinguished by the quartz revolution of the 1970s and early '80s, is headed for another crisis, but this one of sheer gluttony. There are simply way too many diners at the table grabbing for a slice of a pie that isn't nearly as big as industry promoters are making it out to be.

Many people seem to think that Asia is the new pie in which everyone will stick their forks. I have my doubts. Yes, Asia certainly has the sheer population. But the number of people there who can afford a $100,000 watch, or a $10,000 watch, or even a $1,000 watch, is very small.

The other troubling phenomenon that is taking place is the decision by many watch companies to open their own "boutiques" -- small stores where only their own product is offered. This is just plain bad news for the consumer, and more bad news for the independent jewelry store industry. So not only will customers pay exorbitant prices for watches, they won't even have a chance  to compare features and value among multiple brands.

So to sum up, I feel tremendously fortunate to have had this chance to visit Wonderland. Every watch aficionado should try to make this pilgrimage once in his or her lifetime. But having seen what is happening in the world of modern watches, I'm even more content to play in my little garden of vintage wrist watches, and steer clear of the rabbit hole.

Bruce