Seiko

More and more people are coming to the opinion that Seiko, a Japanese company, is the world's greatest watchmaker. 

 

For about a century, after the American watchmaking industry fell apart, Swiss watches have generally been regarded as the state of the art. Three Swiss brands, Patek Philippe, Audemars Piguet and Vacheron Constantine, are often referred to together as "the Holy Trinity," reflecting the opinion that they are as good as it gets. Recently, however, Jaeger-LeCoultre, a fourth Swiss brand, has been mentioned as being equal to or even better than the Holy Trinity, as has A Lange & Soehne, which is not even Swiss, it's a German brand, one of several in the small town of Glashuette in the former East Germany.

And then of course are the many, many people who say that Rolex is the best. We laugh and pat them on the head and get back to what we were discussing before they interrupted us. Rolex watches are good. They're not the very best. And they're overpriced. And even if you pay full MSRP for a new and soght-after Rolex model, you're going to be on a waiting list. For years, sometimes. 

Why? Because when you ask most people to list off luxury watch brands, they'll say, "Rolex... Uhmmm..." If people literally don't know that your competition exists, you will outsell your competition.

And then there's Seiko, which is a bit different from all the other brands mentioned so far. All of them are exclusively luxury brands, offering watches for four figures and up. Some people are surprised to hear Seiko being compared to Swiss luxury brands, because they believe that Seiko make inexpensive watches.

And they do. The thing is, they make luxury watches too. You can get a Seiko for $50, or $500,000 or at every price point in between. That alone makes them unique. What makes them great is that they offer the best value at any price point. You can get a great Seiko watch for $200. By "great" I mean, quite simply: better than anything else on sale for $200. You can get one for $400. Or $1000. Or $5000. Etc. And in each and every case, the Seiko will be the best that can be had for that much money. 

Tissot says, "They say a high-end Swiss mechanical watch can't be had for less than $1000. Let's keep proving them wrong." Audemars Piguet says, "People who are willing to spend $10,000 for a watch look to us to provide the ultimate in horological luxury. Let's keep refining and deepening that experience." And both Tissot and Audemars Piguet are both accomplishing great things. But Seiko says, "Let's keep beating everybody at everything." They're not just in their own league. They're playing a completely different game.

How do they do it? Experts are mystified. Seiko don't skimp on materials. They don't run sweatshops. Their highly-skilled employees are compensated as well as they would be at other firms.

I'm taking a guess here: maybe Seiko's prices are the best because they have a firm policy that their prices will be the best. Maybe, before a Seiko model is introduced, Seiko looks at the prices of comparable watches, and offers their for less, period, whether they're taking a big loss short-term or not, and it all comes out all alright for them because the prices are one of the reasons for Seiko's huge sales and extremely loyal repeat customers.