When quartz watches came up the makers of mechanical watches struggled. Quartz watches are cheaper, more accurate in many cases and servicing is usually restricted to replacing a battery. However some people appreciate a good mechanical watch (and the status symbol aspect of course) and nowadays the mechanical watch market is flourishing. Something similar happened with artificial fabrics (polyester, acrylic) and cheap made clothes, there’s a market for handmade clothes that use natural fabrics.
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