The rising price of Seiko’s NH series (NH35, NH36, NH34 GMT, etc.) is something a lot of microbrand and modding enthusiasts have noticed over the last few years. Here are the main reasons:
1. Global Demand Surge
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Microbrand boom: Hundreds of new small watch brands rely on the NH series because it’s affordable, reliable, and easy to service.
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Watch modding trend: The NH35/36 especially became the default choice for Seiko mods, which added big aftermarket demand.
2. Limited Supply & Capacity Constraints
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Seiko Instruments (SII/TMI) produces these movements in Japan and Malaysia, but capacity isn’t unlimited.
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Seiko prioritizes its own watches (like Presage, Seiko 5, etc.), which means fewer movements are left for third-party supply.
3. Increased Production Costs
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Labor and material costs in Asia have gone up steadily.
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Higher QC standards and refinements (especially for newer calibers like the NH34 GMT) add cost.
4. Currency & Import Factors
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Exchange rate fluctuations (JPY vs. USD/EUR) make movements more expensive for overseas buyers.
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Shipping and import costs also rose after the pandemic.
5. Strategic Positioning by Seiko
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Seiko may be deliberately raising NH movement prices to push microbrands either upmarket (toward Miyota or Swiss movements) or closer into Seiko’s own watch price territory.
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The NH series became too popular in cheap watches, and Seiko doesn’t want its technology undercutting its own lineup.
✅ In short: demand went up, supply stayed tight, costs rose, and Seiko is controlling the market strategically.
