Coming here to Lausanne, and reflecting on the theme of this Forum, I asked myself a very simple question: imagine a young man, between 18 and 24 years old, just an ordinary young man, not some golden boy. What does he know about fine watches and true luxury? What does he think of them? I rather fear that his knowledge amounts to little or nothing. At the very least, he knows nothing of what we know both fine watches and true luxury to be. Or perhaps he has his own opinion that we need to study and understand.

Every year since 2010, the Swiss watch industry has trained a record number of apprentices. In 2013, 385 of them obtained either a federal vocational education and training diploma (certificat fédéral de capacité/CFC), or a federal vocational education and training certificate (attestation fédérale de formation professionnelle/AFP). Ten years earlier, this figure was just 206.

It's something we repeat over and over, to the point it has become almost a mantra: a fine watch contains not just mechanical perfection, beauty and the precious nature of the materials of which it is composed: it holds stories, loves and memories too. These are the self-same stories which day after day fuel the collector's passion. Those who already possess watches worthy of interest and those who are making their first acquisitions, somewhat haphazardly. They are the collectors of tomorrow, and as such we must afford them particular attention by helping them recognise the stories and values that give fine watchmaking its full significance.