OPINION: Is ‘unobtanium’ turning off watch buyers?

Exclusivity and unattainability are two words that have become synonymous with the luxury watch industry. 

To create ravenous demand, watch brands and retailers tightly control supply of their most sought-after models, implementing opaque waiting lists and restricting access to only their most VIP (highest spending) customers.

It’s a model that works so well there’s even a dedicated word for it in watch culture: unobtanium, slang for a watch that’s extremely hard — or practically impossible — to buy at retail, even if you have the money. 

The term originated in the aerospace industry in the 1950s to describe materials that theoretically exist, but are difficult to get hold of. It was later adopted by science fiction writers and even appeared in the 2009 film Avatar as a key plot point.

Of course, it’s not only the watch industry that likes to control supply and demand through unobtanium. Ever tried to buy a Birkin? You have to buy a lot of Hèrmes sandals, scarves, and coffee services to come within sniffing distance of that Togo leather. 

The same goes for certain Porches and Ferraris, particular Nike drops, and even sought-after concerts — Swifties who had previously bought bucketloads of merch and records got first access to Eras tour tickets. Increasingly, you have to pay to play in this world. 

But are watch buyers now getting tired of all the unobtanium? It was a thought that struck me as I was being shown the latest releases last week at Watches and Wonders, trying on models that would probably never make it to a shopfloor. Incredible timepieces that, even if they have the cash for the RRP, the most devoted watch fans would most likely never get their hands on. Is that fair?

Unobtanium is certainly off-putting to those just starting to dip their toes in the world of watches. Too much friction can kill enthusiasm — especially when you’re eager to get going in your new hobby. Being told there’s no stock, or to come back in two years, or to buy something else first, is understandably a deterrent. With that in mind, having to buy a load of products — other models or jewellery or merch — that you don’t necessarily want in order to be able to purchase the item you do want is nothing but highly wasteful. Even if you can afford it, so much excess consumption is hardly doing wonders for our planet. 

The opacity and game playing involved in obtaining the supposedly unattainable is also enough to put many people off. And it’s not how many watch fans want to buy these days. While Swiss watch exports are down, values are up, meaning buyers are purchasing fewer watches but investing carefully. There’s also a culture shift at play: timepieces are being bought with long-term wear in mind, with younger people in particular also gravitating towards smaller cases, cleaner lines, and recognisable designs — not a flashy piece to flex on the wrist because they had FOMO.

Of course, the culture of unobtanium isn’t killing the watch industry per se. Strict control over supply and demand keeps prestige brands highly desirable, and maintains their resale value while also attracting wealthy buyers who like to play the exclusivity game. But what about everyone else who is no longer interested in coming out to play?