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French innovator aims to consign ticking quartz watches to history
(usa.watchpro.com)
This is a most excellent place for technology news and articles.
Higher beat quartz watches do exist, like Bulova's Precisionist watches (which I believe do beat 16 times per second like you mention).
My understanding is that they are not more common because moving the hands more frequently like this uses battery a lot faster, so the watches either need to be bigger for more battery or require more frequent battery changes.