Why are men obsessed with watches

Watches are big business these days. And the past few years have seen extraordinary growth in the sector. The Swiss watch industry, for example, saw its exports grow from £2.5bn in 1986 to £10bn in 2008. Despite the fact that the primary function of the watch – to tell the time – has been rendered pretty much obsolete along with the invention of mobile phone. So why are we still buying them?

It wasn't so long ago that your father would hand you a gold-plated watch on your 21st birthday and that would be that. It never crossed a man's mind that he might need to add another two or three by the time he hit 30. And it certainly never crossed his mind that when he reached 40 he might be grateful to receive a smart wooden box with different felt-lined compartments in which to keep his "collection" of watches.

The fact that men are still buying and cherishing quality timepieces is of great comfort to an industry. The invention of the quartz watch might initially have been hailed a great technological achievement, but it wasn't long before it was also seen as the biggest challenge the traditional timepiece had faced since the wristwatch first became popular.

In the mid-1980s, a few forceful and inventive characters in the industry came back with a design philosophy and marketing program that brought the sector back from the brink. These horological pioneers decided that watches would not merely be timekeepers; they would be mini-masterpieces that showcased extreme craftsmanship, represented tradition, incorporated technology and embraced innovation. They would effectively be a Savile Row suit, Ferrari sports car, Mayfair member's club and NASA spaceship rolled into one package that could sit neatly on your wrist.

The idea that technology would deal a fatal blow to the watch, simply hasn't panned out. Men now own iPhone as well as, not instead of, their timepieces. Watches are one of the few items that a man can wear that he believes display true character; signal that he is a member of a particular club. Watches are the acceptable face of male jewelry. A Rolex or a Jaeger LeCoultre, whether it's gold, platinum or stainless steel, is viewed as wholly acceptable.

Whether it cost £50 or £5,000, men clock the watch in the same way some women might take note of another's shoes. It's what we do. And the watch industry is very happy about that.