Business Corner April 2018

There was a rumor that Basel Fair was closing after this years show. However they anticipated that there will be a March 2019 show. In the past two years, 850 exhibitors have dropped out of Basel World. Attendee has also dropped; 30% more or less, than the high of 2014. If rolex, Patek Philippe or Swatch Group decides to not exhibit, the show would be doomed.

We could be seeing the beginning of the end to many of the makers of Swiss watches. The industry almost was put out of business in the 1970s and 1980s with the quartz watch phenomenon.

Rolex stainless ceramic Daytona watches continue to be very hot with the new ones selling for over $4,000 US retail. The white dial ones are much hotter than the black dial models, selling for $1,000 more. The Rolex Sky-Dweller 326934 is also very hot, but the blue dial models are selling for much more than the white ones in the secondary market.

The new Rolex stainless steel GMT Master II with the Blue and red ceramic bezel and jubilee bracelet was introduced at Basel with a retail of $9,250; it should be a very hot watch. Also a new Rolex Deep Sea D- blue dial with wider bracelet and redesigned case with a retail of $12,550 was introduced.