Business Corner September 2018

Gold is trading over $1,200 and this could mean that it has hit its bottom. The US dollar is somewhat weaker than it was last month. The Federal trade Commission recently ruled that lab-grown diamonds no longer have to be called synthetic. The FTC’s rationale for the ruling is that in 1956 when the legal definition of a diamond was written, diamonds only came from the ground. This all changed with production high quality, lab-grown diamonds market in the future.
Overall business has been very strong.

Rare vintage Rolex Sport watches continue to be very hot. This includes all Rolex Daytona models and now early automatic one with Zenith movements are very hot. Early submarines are strong as well as GMT’s. Watches have to be in good condition with original dials, hands and inserts to command top dollar. The same model watch with a refinished or service dial could be worth only 25% of the same one with a 90% or better dial.
Case condition is very important, original papers and bracelets can make a big difference in value. The supply of Rolex & Patek Phillippe watches, both new & preowned, is very low with demand out-pacing supply.