This year sees the 50th anniversary of Seiko Watches Grand Seiko. This classic timepiece first appeared on the market in 1960 and has "long been recognised by collectors, watchmakers and industry observers as one of the greatest watches in the world".

The Grand Seiko is only manufactured in Japan due to the expert skills that are required to produce such a high quality timepiece. As well as quartz movements this watch also possesses spring drive technology. "Hands are made with razor edge precession. Even materials are special; the main springs are made of Spiron which delivers maximum power reserve and durability".

It was at Baselworld last week that Seiko Watches chose to announce that the Grand Seiko will now be available in some selective international markets with the major one being Australia. Seiko have introduced this change of policy due to their increased production capacity.

Seiko Watches chose the annual trade fair, Basel world, to launch the new Seiko Quartz Astron to commemorate the 40th anniversary of the introduction, by Seiko, of the world’s first quartz watch.

When Seiko Watches first launched the original quartz watch back in 1969, it was seen to revolutionise the conventional watch. At the heart of this watch was a crystal oscillator coupled with an open step motor allowing Seiko to produce the most accurate timepiece on the market.

The new Seiko Quartz Astron incorporates the original design, but with the advancement of technology in recent years, Seiko has introduced new and improved concepts such as, a high torque stepping motor with a precise alignment of the second hand. Once again Seiko watches have produced a highly reliable and precision piece of technology creating new standards of timekeeping.

The Baselworld trade fair opened its doors this week to watch companies, raw producers and shop owners. All the major watch companies are scheduled to attend including Seiko watches, Rolex and Fossil.

This show is a highly acclaimed global event. It not only brings all the elements for watch manufacturing together but also allows companies to showcase new products and to promote original and fresh ideas in response to current trends.

With sales in decline over the past year, watch companies have noticed a gradual turnaround. The fragile world economy is still recovering from the recent current financial crisis so small steps are required. Sylvie Ritter, Managing Director of Baselworld adds that "the current economic climate was challenging for most of 2009 and of course this has a negative effect". The watch companies however, remain optimistic.

In October 2008 Seiko watches unveiled a new timepiece that was out of this world! The Spring Drive Spacewalk watch was designed by Seiko watches for space tourist Richard Garriot on his inaugural space trip to the International Space Station.

As the watch was to be worn on the outside of the spacesuit it had to go through rigorous tests to ensure that it could withstand extreme radiation and pressure. A Spring Drive movement was selected as it could be exposed to temperature ranges of minus 20c through to plus 70c.

The watch has a traditional face with a date function; it is constructed in a high intensity titanium casing and has a specially designed nylon strap. Only one hundred of these high specification watches were made. They went on sale for $28,000 in February of this year. Last September one was auctioned in New York raising $45,000 for charity.

This weekend sees the onset of daylight saving time. All wrist watches and clocks will be put forward one hour in order to save an hour of daylight as we enter into spring.

But what is time? Albert Einstein said "space and time are bound up with each other". Time organises our actions and thoughts. Historically timepieces can be traced back through the centuries with the introduction of calendars and sundials to mark time.

With development in recent technology, time is big business. Modern timepieces like wristwatches and digital clocks are constantly being updated. Companies such as, Seiko watches, Tissot and Citizen are always competing to be the first to get the most up to date watch on the market. But if time is relative as some believe, whatever timepiece you own, time flies by for some whilst others see time as dragging!

Gone are the days when you could buy a fake watch off a man on the street, nowadays there is global demand for phony timepieces.

The stigma of wearing a replica watch has gone, to a certain extent. Some people chose to save their designer brands for special occasions and wear an alternative watch for everyday use. Others buy one out of curiosity, to impress their friends or as an inexpensive gift. However, these people are buying because of a brand not because they want a quality watch and that shows a lack of integrity on their part. If their watch is fake what else is fake about them!

This multi million pound business is bad news for manufactures of the legitimate products. It has been estimated that over 30 million counterfeit watches are sold each year with £600 million lost in revenues for companies such as, Seiko watches, Omega and Rolex.

Many fakes don’t last long, even if they work at all. When you invest in a classic timepiece you are buying quality and craftsmanship, a watch that can last a lifetime. So what better way to invest in time than buying the genuine article?

There may be a recession on but watches are big business, the industry is booming. Men in particular appear obsessed it owning not only the latest must have, but the traditional and classic styles too.

Annually watch companies from Seiko watches through to Tag Heuer, introduce a new range of men’s and ladies watches. They are particularly aimed at grabbing the attention of the male consumer. The watch must be designed with the latest advanced technology and possess numerous functions to satisfy mans need for gadgets!

Men are further enticed into buying the latest timepiece through the power of advertising. Millions of pounds are pumped into marketing these products. Men’s magazines such as, GQ and Esquire litter their pages with glossy ads. Men are further drawn in by the sportsmen and celebrities who endorse the watch. They want to feel part of the glamorous image the watch portrays and the intrigue and power it projects.

Just as women buy designer handbags, men invest in classic timepieces. They are not merely timekeepers but are seen as a reflection of a man’s personality. Gone are the flashy sports cars and in are watches, the new portable status symbol.

Pocket watches were the first portable watches to be introduced. They were initially carried by the upper classes and were used not just as timepieces but were regarded as a symbol of class and refinement.

In the early 20th century, watches worn around the wrist were launched and rapidly gained in popularity. Initially adorned by women, wrist watches were redesigned not only as a fashion accessory but marketed as an essential addition to modern day life.

Over the decades, watches using the latest technologies have been designed and improved on, ranging from wind up to quartz precision and digital to linear motion. Traditional watchmakers such as Seiko watches, Casio and Timex have all stood the test of time adapting to changing technologies and trends. They are still around today producing up to the minute timepieces.

There is an exhausting range of ladies and men’s watches on the market to choose from. Just as you think technology has reached its ultimate peak the watch makers surprise us with the introduction of a new range of high tech watches in contemporary designs.