In the ‘70s and ‘80s, Swiss watchmaking was decimated by the so-called “quartz crisis.” Japan began selling more accurate watches for a fraction of the price, powered by a quartz crystal and a battery. The Swiss responded by doubling down on the high-end mechanical market, adopting alpine-high pricing and limited supply as a business model. Today, some mechanical watches sell for millions. 60 Minutes’ Jon Wertheim checks out a timepiece priced at $2 million that is somehow just 1.75 millimeters thick. #switzerland #swisswatch #mechanicalwatch #watches