The watch was powered mechanically through springs up until the 1960's when quartz watches took over in the lower-end market. Expensive watches kept their finely tuned mechanical engineering. There was a boom on watches in the 1980's because the prices went so low (digital), but then the prices jumped up again as the "Quartz Crisis," hit. It wasn't a matter of there not being enough quartz as there was plenty, it's just that mining production hadn't caught up to demand.
Watches began as pendants hanging around peoples' necks then in 1810 the Queen of Naples was seen with a wristwatch. It became popular among women but men primarily used pocket watches until the Civil War. In some circles pocket watches remained popular until the early 1900's. It was more expensive than a wristwatch so generally men of wealth still used them.