The Wristwatch
The wristwatch is a relatively recent development in the history of horology. The early watches were pocket watches - the mechanics required for accurate timekeeping were too large for anything else. In addition, early watches were expensive luxury items rather than the commonplace products they are today.
History
The first wristwatches - "wristlets" - arrived towards the end of the 19th century, invented by Patek Phillipe. They were not initially seen as serious timekeepers, at least not for men. "Real men" carried a chunky gold pocket watch - wristwatches were reserved for the ladies.Things soon changed, helped on by the radid pace of technological innovation. Their acceptance was also helped by the fact they had pratical value to soldiers - they were easier to use than pocket watches under battle conditions. If they were good enough for soldiers then they could no longer be seen as toys for the ladies. Very often these early wristwatches were simply the movements from a small pocket watch squeezed into a different smaller case and given a leather strap.
The first true wrist watch as we know it today is credited to Louis Cartier. In 1907 Cartier met Alberto Santos-Dumont, an aviator. Santos-Dumont needed a watch that was both reliable and convenient to use when flying. Cartier responded with the first true, flat wristwatch - the basis for the now famous "Santos" design.
As technology continued to improve and prices fall, uptake of the wristwatch spread. However the mechanical watch suffered a major setback during the 1970s with the introduction of quartz.
Quartz technology allowed for reliable wristwatches at low prices. Even the "complications" so loved by horologists could usually be reproduced simply by adding a little extra circuitry. A watch became a disposable consumer item. The expensive mechanical watch seemed doomed.
Much of the traditional watchmaking industry was devastated, many manufacturers going out of business. Others survived by embracing quartz technology or by trading on their brand name.
Some watchmakers went up-market, and this seems to have been the life saver for the mechanical watch. The traditional watchmakers couldn't compete with quartz in terms of price or even accuracy, so instead they competed in terms of status and luxury. The result is that recent years have seen a resurgence of interest in the quality branded mechanical watch as a high-end product.
So the wristwatch has in a way - if you'll excuse the pun - come full circle. No-one today needs a mechanical watch for accurate timekeeping. Some of the famous luxury models are almost a piece of jewelry first and a timepiece second.
Most people today usually buy mechanical watches as luxury items and status symbols - or simply for the love of the art and craft of horology.