News: Will the U.S. Economy Affect Baselworld? - Time Talk - Time Tech Talk

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Skipdawg
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Saw this and something stood out. I highlighted it. Amazing!!

Every year the watchmakers and jewelers converge on Basel, Switzerland in the spring for Baselworld and the SIHH show. It is the place where exhibitors display some of the most dazzling luxury goods in the world. But this year, fears over the U.S. economy may be dampening the usual excitement.

The show, like fashion shows, is one that looks ahead, trying to sell buyers on the goods they will want in their stores in September and October for the holiday season. Many are already predicting that the Christmas business of 2008 will be bad news for both the U.S. and Europe. The annual event has over 2,000 exhibitors and attracts around 100,000 buyers. According to Jacques Duchene, president of the BaselWorld Exhibitors Committee quoted in National Jeweler, last year was a boom year for Swiss watches: Swiss watch exports reached about $15.75 billion last year which was a 16 percent increase over the previous year, and a rise of more than 50 percent over the previous four years.

In this Reuters article, Rolf Schnyder, the chief executive of Swiss watchmaker Ulysse Nardin is quoted as saying that the slowdown in the U.S. market will generally affect the mid-range products. This reflects the general trend we have seen where luxury consumers at the top of the market are spending but those that are at the lower end of the affluence spectrum are cutting back.

For those who make watches and jewelry, bright spots can be found by looking east. Increased demand in Asia, Russia and the Middle East will likely provide most manufacturers with market growth even if other economies continue on their gloomy course. One thing that I will be curious to see is if the change in consumers will change the products. The big spenders in these markets often have particularly lavish tastes and a taste for diamond and jewel-covered watches as opposed to more subtle watches with elaborate complications. I wonder if in the next few years, the major manufacturers will be shifting their output to attract these customers.

Found here....

http://www.luxist.com/2008/04/03/will-the-u-s-economy-affect-baselworld/

scottran
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Skipdawg wrote: Saw this and something stood out. I highlighted it. Amazing!!

The big spenders in these markets often have particularly lavish tastes and a taste for diamond and jewel-covered watches as opposed to more subtle watches with elaborate complications. I wonder if in the next few years, the major manufacturers will be shifting their output to attract these customers.

Found here....

http://www.luxist.com/2008/04/03/will-the-u-s-economy-affect-baselworld/
Lord, I hope not! Anyhow, I think the Swiss will be partly to blame if sales are down due to the limited availability and increase in price of movements. Just my 2 cents.

KenC
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Skipdawg wrote: Saw this and something stood out. I highlighted it. Amazing!!

Swiss watch exports reached about $15.75 billion last year which was a 16 percent increase over the previous year, and a rise of more than 50 percent over the previous four years.

Skip, I believe that you, Oscar and Zippo are responsible for most of this increase...:)

Skipdawg
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KenC wrote: Skipdawg wrote: Saw this and something stood out. I highlighted it. Amazing!!

Swiss watch exports reached about $15.75 billion last year which was a 16 percent increase over the previous year, and a rise of more than 50 percent over the previous four years.

Skip, I believe that you, Oscar and Zippo are responsible for most of this increase...:)

OOPS!!!!

goofy

Foster
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Quite frankly I hope the Swiss take it in the ass this year.

Basel, while nice, is nothing more than a celebration of the industry's yearly outrageous and unecessary price increases.

I am getting sick of wathing grail after grail go out of my reach every year.

Maybe I should have picked a cheaper hobby

Skipdawg
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Oh I hear ya Foster. With the way Rolex had gone up the past 4 years i doubt I'll ever bother now and if I don't score a Chopard this year that may end up in the same boat. At least i have managed to grab a few over the last year.

I've even made levels of grail now for my list. LOL :D

Uber Grail - Graham

Grail - Chopard

sub-Grail - Korsbek

Foster
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I'm hoping for the dollar to recover so I can make at least one more strike.

Ebel 1911 BTR.....I'm gunning for you!

Skipdawg
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Foster wrote: I'm hoping for the dollar to recover so I can make at least one more strike.

Ebel 1911 BTR.....I'm gunning for you!

Foster I have my fingers crossed for the US dollar too. ;) And a fine target to have your sites on. I like that watch allot myself. hearteyes.gif

scottran
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Skipdawg wrote:
Foster I have my fingers crossed for the US dollar too. ;) And a fine target to have your sites on. I like that watch allot myself. hearteyes.gif
Skip, I dont think the dollar will recover. Seems like we are heading to something like the euro.... the Amero. Mexico, U.S., and Canada.:X And Foster, I hope the Swiss also take it up the old bunghole.

KenC
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The dollar will recover when the budget gets balanced and the national debt reduced.

Paxman
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KenC wrote: The dollar will recover when the budget gets balanced and the national debt reduced.
When do you think that might happen?

scottran
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KenC wrote: The dollar will recover when the budget gets balanced and the national debt reduced.
So I guess you're saying when hell freezes over.

KenC
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scottran wrote: KenC wrote: The dollar will recover when the budget gets balanced and the national debt reduced.
So I guess you're saying when hell freezes over.

Well, it's either that or get people running the country who realize that:

1) The US cannot be all things to all people,

2) We can support the truly infirmed and truly disabled, but not the dumb and the lazy,

3) Government is not the answer to personal problems,

4) Government produces no income.

Unfortunately, no one running fits that bill....

Skipdawg
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scottran wrote: KenC wrote: The dollar will recover when the budget gets balanced and the national debt reduced.
So I guess you're saying when hell freezes over.

Well I don't think it will get that bad but we (the US) have not hit bottom in this yet I'd dare say. And the factors to fix it is not a short list of task. But to keep from getting to political for that always turns the heat up in a descusion just as religion dose lets just say a heck of allot needs to be done before the rebound.

I just hope I can surf though these rough waters to unskaved before the rebound.

scottran
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KenC wrote: scottran wrote: KenC wrote: The dollar will recover when the budget gets balanced and the national debt reduced.
So I guess you're saying when hell freezes over.

Well, it's either that or get people running the country who realize that:

1) The US cannot be all things to all people,

2) We can support the truly infirmed and truly disabled, but not the dumb and the lazy,

3) Government is not the answer to personal problems,

4) Government produces no income.

Unfortunately, no one running fits that bill....

Ken, I agree with you %10,000!

KenC
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Skipdawg wrote: scottran wrote: KenC wrote: The dollar will recover when the budget gets balanced and the national debt reduced.
So I guess you're saying when hell freezes over.

Well I don't think it will get that bad but we (the US) have not hit bottom in this yet I'd dare say. And the factors to fix it is not a short list of task. But to keep from getting to political for that always turns the heat up in a descusion just as religion dose lets just say a heck of allot needs to be done before the rebound.

I just hope I can surf though these rough waters to unskaved before the rebound.

So, this is not a good time to let you know that I don't care for Islamic Fascists?

...good point, Skip....let's drop this and get on to a new thread! How many watches coming in today, Dawg? woohoo.gif

Skipdawg
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LOL no watches incoming today. :shock: One later next week. :cool: Going to try to hold out on buying another till the Reef Ranger comes up for sale. But then again if that don't happen soon I may have to pull the trigger on something else that has caught my eye. :D

KenC
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Skipdawg wrote: :cool: Going to try to hold out on buying another till the Reef Ranger comes up for sale.

Let me know how that "holding out" thing works for you!!!

Skipdawg
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KenC wrote: Skipdawg wrote: :cool: Going to try to hold out on buying another till the Reef Ranger comes up for sale.

Let me know how that "holding out" thing works for you!!!

I can give you and example....

Feb - March 2008

May - June 2007

Upside
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Foster wrote: Quite frankly I hope the Swiss take it in the ass this year.

Basel, while nice, is nothing more than a celebration of the industry's yearly outrageous and unecessary price increases.

I am getting sick of wathing grail after grail go out of my reach every year.

Maybe I should have picked a cheaper hobby

for the record, I couldn't have said it better myself.

goldengrr
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Adding my two cents... Look at what has happened recently to US auto sales... Folks got over-extended and need to cut back- car sales suffer. I think that there will be "softness" in discretionary spending and that includes "luxury" items such as watches (excluding 3T members ) And no, the weak dollar has not helped. I think people might not feel as free to spend and that could help patient watch buyers, especially in the secondary market. I am optimistic that maybe it gets a little bit easier to buy at the "right" price point.