Remember that back when I bought my Rolex Switzerland was watchmakers to most of the world and made all grades of watches, all the way from Timex grade pin lever junk watches on up to the top end. The USA also had a sizeable watch industry with Elgin, Hamilton, Waltham, Bulova and others. My first reasonable quality watch was a Bulova Accutron Astronaut, bought circa 1964 as I recall. Bought in Hong Kong, way prior to the Chinese counterfeiting quality watches. Back when I bought mine the Rolex was basically the available, and reasonably affordable, equivalent to the Casio G shock, about the ruggedest readily available watch you could buy. Rolex offered automatic winding and water proofing, relatively rare when they introduced them as standard on men's Rolex and Tudor watches. What moved most of the surviving factories in Switzerland to move into the super expensive mechanical watch category was the development of the affordable Quartz watch, which devastated most of the Swiss watch industry. With Swiss labor costs they could not compete and started an advertising campaign that tried to make the mechanical watch into a deluxe item for many with more money than sense. On average today's quartz watch is more accurate than the average balance wheel mechanical watch, no matter where made.