The Japanese watchmaker Seiko, famous for quartz watches in the 1970s, is raising the average price of its mechanical Grand Seiko watches from $5,000 to $15,000. The company makes 100,000 Grand Seikos a year, against Rolex's 800,000 watches. The top watch in the range now retails for $58,000. Rolex has been making automatic movements since 1908, but it was not until 1954 that they began selling them as timepieces. In 2016 Citizen acquired Frederique Constant, Alpina and DeMonaco, giving it access to the $1,000-plus watch market. In 2016, Seiko, Citizen and Casio's global market reached a combined 10.2%.
The Japanese watchmaker Seiko, famous for quartz watches in the 1970s, is raising the average price of its mechanical Grand Seiko watches from $5,000 to $15,000. The company makes 100,000 Grand Seikos a year, against Rolex's 800,000 watches.The top watch in the range now retails for $58,000. Other Japanese firms are following the trend for superior mechanical timepieces. In 2016 Citizen acquired Frederique Constant, Alpina and DeMonaco, giving it access to the $1,000-plus watch market. In 2016, Seiko, Citizen and Casio's global market reached a combined 10.2%.