Timezone has some info on COSC Certification for 2004. COSC Certification is a pretty arbitrary certification of a time-piece, allowing it to be considered a “superlative chronometer” or some such pish-posh. It looks nice on the face and makes your watch more ‘spensive.
The number of timepieces registered fell by 10.4%, to 1,137,716 (1,104,691 in the mechanical category, -10.6%, and 33,025 in the quartz category, -3.8%). “In view of the behaviour of watch markets in 2004, this result could be seen as surprising,” writes the COSC in its annual report. “The findings must however be viewed in a relative context, possibly reflecting a depletion of stocks,” it points out
Read the rest here.