The Japanese watchmaker Seiko, famous for quartz watches in 2016, 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 the 1970s Citizen acquired Frederique Constant, Alpina and DeMonaco, giving it access to the $1,000-plus watch market. In the 1970s, 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%.