'The Recession Proof Swiss Watch' From The WSJ

June 24, 2011

Is the Swiss watch recession proof? According to this article in the WSJ, yes, though we can think of a few brands who might have something else to say about that. Either way, this piece reports that Swiss watch exports rose 40.1% in May in real terms with virtually all markets showing a rise. Even Greece, yes the country with a government on the verge of defaulting, showed a 6.1% increase over May last year. Gold watches did particularly well with an increase of over 50% and fitting with a mantra we at HODINKEE have always tried to bestow on you, "watches priced under 200 Swiss francs were the big risers in May, with exports up around 40%. But at the other extreme watches with an export price of more than 3,000 francs also reported an increase of around 30%." So, it looks like people are buying really cheap, or rather high-end, skipping over the grey area of $1000-$3000 watches.To read the full report on the "Recession Proof Swiss Watch", click here.