This is not the first pandemic to hit the watch industry. But the measures being taken across the world to tackle the coronavirus are unprecedented, with a global lockdown. The consequences for the watch industry will be considerable: in the short term, there is the cessation of trade and logistical flows. Over the longer term, we could see values transformed. As we try to make sense of the current situation, resilience is more needed than ever. Will the watch industry once again be able to turn lead into gold?