Openwork: Inside the Watch Industry

Episode 47: The Industry's Most Important Watches – From the Quartz Crisis to Today
August 18, 2025
Hosted by: Asher Rapkin (B) & Gabe Reilly (A), Collective Horology

Overview

This episode is a deep dive into the business-shaping, culture-defining watches released from the start of the quartz era (late 1960s) through to the present. Asher and Gabe hand-pick a set of watches that fundamentally transformed the industry—not necessarily for their mechanical merits, but for how they changed the business landscape, collector culture, and the ways brands operate today. Beyond the watches, they examine the executives who made the biggest impact during this era and discuss emerging themes for the future.

Key Discussion Points & Insights

1. Setting the Stage: Why These Watches?

• Focus: Most important watches (Quartz crisis to the present)
• Approach: Draft-style picks, chronologically, to tell a story of industry evolution
• Context: Less about the technical specs, more about the ripple effects on the industry (business models, culture, collecting)
• Gabe (A) [02:47]:

  "We're going to be talking about the industry's most important watches... not the watches themselves, but what they meant to the watch industry."

2. Seiko Astron 35SQ (1969): The Quartz Earthquake

• Chosen by Asher (B) [05:20]
• First Quartz Watch: Released Christmas Day, 1969
• Impact: Initiated the Quartz Crisis; challenged Swiss mechanical supremacy
• Industry Repercussion: Forced Swiss brands to redefine themselves as luxury goods manufacturers
• Technological Leap:
  • ±5 seconds/month—a revolution in accuracy
  • Only 100 made; highly collectible
• Globalization: Helped industrialize watchmaking across Asia, paving the way for Chinese manufacturing dominance
• Quote, Asher (B) [07:12]:

  "What the quartz revolution... effectively spawned was a real era of self-questioning among the Swiss in particular... What do you do when accuracy is no longer your competitive advantage?"

• Quote, Gabe (A) [09:16]:

  "It also put the Japanese watch industry on the map. From the 70s, really the 80s onwards, Seiko, Casio, Citizen are global brands, household names..."

3. Swatch Originals (1983): Switzerland’s Colorful Rebirth

• Chosen by Gabe (A) [12:43]
• Swiss Answer to Quartz Crisis: Fun, affordable, analog, and Swiss-made
• Business Impact: Rescued the Swiss watch industry; Swatch Group’s template
• Cultural Impact: Made watches playful, collectible, and mainstream again; redefined “Swiss Made” as cool and desirable
• Societal Context: Paralleled other Swiss icons (army knife, chocolate) gaining pop culture cachet in the 1980s and 1990s
• Quote, Gabe (A) [14:03]:

  "These watches were fun, they were playful, they were cheap and cheerful, but... they were radical departures for what people expected from Swiss watchmaking."

• Quote, Asher (B) [16:04]:

  "Swatch is a portmanteau of the words Swiss Watch... it aligned with this redefinition of Switzerland as a manufacturing hub."

4. Omega De Ville Co-Axial (Mid-1990s): The Movement Tech Arms Race

• Chosen by Asher (B) [20:32]
• First Commercial Use of Co-Axial Escapement: Invented by George Daniels
• Industry First: Technical innovation as a visible selling point, not just an internal detail
• Prelude to Independent Watchmaking: Omega spotlighted an outsider’s invention, indirectly legitimizing independent technical creativity
• Kick-Starting Celebrity Tech: Helped start the modern era of “in-house” and movement innovation posing as brand differentiators
• Quote, Asher (B) [22:02]:

  "It was a public and visible statement that a unique piece of technology was integrated into that watch. And... it was attributed to George Daniels."

• Quote, Gabe (A) [25:59]:

  "Starting with co-axial... Omega and Rolex in particular... have been in this arms race of one-upsmanship over movement technologies..."

5. Panerai Luminor Marina, PAM 21 (1997): The Birth of the Modern Watch Community

• Chosen by Gabe (A) [28:36]
• Business Significance: Relaunch under Vendome/Richemont, mass luxury
• Paneristi Phenomenon:
  • First major organized online community of brand-focused collectors
  • Prototype for today’s enthusiast groups
• Template for Industry Behavior:
  • Serialization/manufactured scarcity as a business model
  • Early embrace of accessories/strap culture as up-sell vector
  • “Proto-collabs”: Official community editions
• Quote, Gabe (A) [29:44]:

  "What’s important here is not just that Panerai becomes part of the luxury watch culture writ large... more important than that is the Paneristi."

• Quote, Asher (B) [34:12]:

  "Manufactured scarcity. That’s very relevant and that is a playbook the industry still runs on to this day."

6. MAD 1 (2021): The New Era of Brand-Led Creators

• Chosen by Asher (B) [39:02]
• Brand: Max Büsser’s “accessibly wild” sub-brand
• Innovation:
  • Created first for owners (the “Tribe”), then released by lottery
  • Evoked MB&F’s creative vision, democratized by price and availability
• Key Lesson: Proof that brand identity/purpose is now a bigger differentiator than mere technical execution. In a commoditized production world, ideas and story sell watches.
• Quote, Asher (B) [40:57]:

  "It was a demonstration of the power of brand... there is a very clear reason for existing and a very clearly articulated value proposition. In other words, a brand."

• Quote, Gabe (A) [43:27]:

  "The modern era... brands aren’t defined by price positioning, they’re defined by an idea and by creativity."

7. Harry Winston Opus 1 (2001): The Mainstreaming of Independents and Collabs

• Chosen by Gabe (A) [45:25]
• Creative Direction: Max Büsser (again)
• Concept: Collaboration with legendary independent watchmakers (FP Journe, Kari Voutilainen, etc.)
• Industry Impact:
  • Elevated independent watchmakers to global luxury status
  • Began the high-profile, cross-brand collaboration trend
  • Set the template for modern “collective” or community-driven projects
• Quote, Gabe (A) [45:53]:

  "It not only put those watchmakers on a pedestal, but it put independent watchmaking on a pedestal... really brought what was a backwater of watchmaking into the limelight."

• Quote, Asher (B) [48:54]:

  "It’s a good reminder that change—both positive and scary—is a constant in all forms of business... things can come out of nowhere to break the mold."

Key Themes Spanning All Picks

• The Power of Community: From Paneristi to Tribes, collector groups define business success
• Manufactured Scarcity & Upsell: Serialization, limited runs, strap culture as modern business tools
• Rise of Collaborations: Co-ops, community editions, and mainstream brands aligning with independent talent
• Shift from Technical to Conceptual Differentiation: Brand story and curated experience now often trump pure mechanics or heritage
• Swiss Identity and Government Influence: Swiss-made as cultural shorthand for quality, sustained by strategic intervention

Notable Quotes & Moments (with Timestamps)

• [09:16] Gabe (A): “It also put the Japanese watch industry on the map. From the 70s, really the 80s onwards, Seiko, Casio, Citizen are global brands, household names…”
• [14:03] Gabe (A): “These watches were fun, they were playful, they were cheap and cheerful, but... they were radical departures for what people expected from Swiss watchmaking.”
• [22:02] Asher (B): “It was a public and visible statement that a unique piece of technology was integrated into that watch. And... it was attributed to George Daniels.”
• [29:44] Gabe (A): “What’s important here is not just that Panerai becomes part of the luxury watch culture writ large... more important than that is the Paneristi.”
• [34:12] Asher (B): “Manufactured scarcity. That’s very relevant and that is a playbook the industry still runs on to this day.”
• [40:57] Asher (B): “It was a demonstration of the power of brand... there is a very clear reason for existing and a very clearly articulated value proposition. In other words, a brand.”
• [45:53] Gabe (A): “It not only put those watchmakers on a pedestal, but it put independent watchmaking on a pedestal...”

Honorable Mentions

• Apple Watch: The world’s best-selling watch by units; changed what a “watch” means for the public
• Rolex ‘Paul Newman’ Daytona: Turned auctions (and Rolex) into cultural phenomena
• Omega Seamaster Professional 300m: Set the template for modern watch marketing via James Bond placement

Key Industry Executives

Gunter Blumlein

• Chosen by Asher (B) [52:09]
• Roles: Steered the revival/reinvention of IWC, JLC, and Lange
• Contribution: Pioneered the transformation of Swiss (and German) watchmaking into modern luxury/heritage-driven brands

The Swiss Federal Government

• Chosen by Gabe (A) [56:27]
• Contribution: Engineered the Swatch Group’s formation by merging conglomerates in crisis; ongoing heavy influence on protecting and shaping the industry

Closing Thoughts

The stories behind the modern era’s most important watches aren’t just about technical leaps—they’re about business reinvention, brand building, and cultural shifts. Whether it’s a seismic technological innovation, a radical design, the birth of community-driven collecting, or the emergence of independent voices, each milestone has added new layers to what it means to make, sell, and collect watches today.

Tune in next time for live coverage from Geneva Watch Days and more in-depth industry analysis.

[For further reading and visuals, check the episode’s show notes at collectivehorology.com/blog.]