>>18486040>The industry literally intentionally raised prices and created an artificial luxury/novelty marketing campaign to survive being btfo by quartz watches.Or maybe because the market for automatic watches shrinked, they had to raise the price to stay in profit, while also keeping the jobs in Europe (unlike pretty much any other industry in this period).
Then it became a circle, raising the price making the market even smaller, a smaller market forcing to raise the price (because of economy of scales, a watch-making machine having to make money on a fewer number of watches produced) and so on.
Because of all this, it was all logical that the watch market became a luxury market, as watch brands also have strong identities, culture and traditions.
tdlr; it was not not just "huuurr dhuuuur!! they raised the price out of nothing! #absolutescam!!!"