Market Report

UAE's GDP to grow 3.3 percent in 2011

According to the Dubai Economic Council, the UAE’s gross domestic product (GDP) in 2011 would be forecasted to grow reaching USD339 billion in current prices. The council added that in the current year, real GDP would be expected by around 3.3 percent, compared with 2.3 percent in 2010, whereas in the coming year it would grow by 3.8 percent. It also said that in 2011, the country’s fiscal balance would reach a surplus of 10.3 percent of GDP, compared with 7 percent recorded a year ago, and would record a surplus of 9.2 percent in 2012, moreover, over the past 5 years, UAE’s nominal GDP has surged by around 34 percent per year due to high oil prices, pushing the country’s per capita income to a projected USD47,371 from USD27,225.

Market News

Christie’s record breaking evening sale of legendary jewels from the collection of Elizabeth Taylor

The Collection of Elizabeth Taylor: The Legendary Jewels Evening Sale achieved $115,932,000 (£74,196,480/€89,267,640), becoming the most valuable jewelry auction in history and setting the tone for Christie’s highly anticipated four-day series of landmark auctions devoted to the iconic collection of Elizabeth Taylor (13-16 December 2011). A tribute to the discerning eye of this celebrated film star, fashion icon, and humanitarian, the sale was 100 percent sold by lot and 100 percent by value, with 24 of the 80 jewels fetching over $1 million and 6 jewels over $5 million. 7 new world auction records were established: price per carat for a colorless diamond and for a ruby; a pair of natural pearl ear pendants; a pearl jewel; an Indian jewel and an emerald jewel.

OMEGA hosts exclusive lunch with Michelle Wie

On 15^th December 2011, Michelle Wie, the American golf star, attended an exclusive lunch hosted by OMEGA, the title sponsors of the Dubai Ladies Masters 2011. The sumptuous lunch was held in OMEGA’s luxurious hospitality lounge, overlooking the 18th hole of the picturesque Emirates Golf Course in Dubai. Michelle Wie greeted over 50 VIP guests and journalists from the UAE and the rest of the region. During the lunch, Michelle Wie was presented with a stunning Seamaster Planet Ocean 600 M Co-Axial in 18 Ct red gold, a diamond-paved bezel and a leather strap. 

Blancpain sponsors Emirates Classic Car festival

Blancpain is proud to have united its forces with Emaar Properties as main sponsor of the 4^th Emirates Classic Car Festival, held from December 1 to 3, 2011, in the context of the United Arab Emirates National Day celebrations. The Festival was held at the Emaar Boulevard in Downtown Dubai, a spectacular boulevard overlooking Burj Khalifa, the world’s tallest building. Over the years, the Festival has recorded steady and impressive growth with the number of classic cars participating increasing significantly. This year the participation exceeded 140 classic cars, and Blancpain was delighted to hand over the “Best of Show European Car” award to Mathew Brett, proud owner of a classic Jaguar E type V12 – 1973 model.

Dubai Duty Free to celebrate its 28th Anniversary

Dubai Duty Free will be celebrating its 28th anniversary on December 20 and will signal another sales milestone for the airport retailer when it grants a discount to travelers on that day throughout the 24-hour period. The anniversary offers travelers the chance to take advantage of 25 percent discount on a wide range of products. The offer will begin at midnight, December 19 and end at midnight on December 20. Dubai Duty Free expects to end this year with sales in excess of US$1.45 billion.

Company News

Hublot presents new alloys for Watchmaking and Jewellery

On 15th December, in the Metallurgy department of the Hublot Manufacture in Nyon, Jean-Claude Biver, Hublot's CEO, and Andreas Mortensen, a Professor at EFPL (Swiss Federal Institute of Technology Lausanne) unveiled a range of brand new alloys which are set to revolutionize the characteristics of precious materials and may also pave the way for new alloys to be used in the high-tech industry. This presentation focused on a genuine "fusion" of 24-carat gold (the finest of the noble materials and a natural product) and the very latest in high-tech materials expertise. Almost three years of collaboration and research have gone into achieving this impressive result: a completely new type of noble gold, with patents pending and graded 18 carat by the Central Office for Precious Metals Control.

Vacheron Constantin shines once more at the Jewellery Arabia Exhibition 2011

Vacheron Constantin adds yet another feather to its cap by winning the exclusive “Best Multi-time Zone Watch” award at the recently held Middle East Premier Watches, Jewellery and Pens Awards in Bahrain. The prestigious awards which brought to the fore exclusive watches, fine writing instruments and glittering jewellery were judged by an influential committee of experts in the arena and through online public voting. Held alongside the Jewellery Arabia 2011 exhibition, the event is in its seventh year and was attended by a distinguished cross section of invite only high profile guests from the industry.  A regular occurrence at the Jewellery Arabia exhibition, the awards hosted by the Arabian Watches and Jewellery magazine bring to the forefront top names of the industry for their creativity and dedication.

Girard-Perregaux and Andrea Bocelli Foundation Gala Dinner

Girard-Perregaux was proud to partner up with the Andrea Bocelli, the world’s highest selling solo artist in the history of classical music, in the launch of his new foundation, the Andrea Bocelli Foundation, with a 2011 Benefit Gala on December 9^th, in Los Angeles. The Gala featured a dinner and performances by Andrea Bocelli himself as well as David Foster, Heather Headley, Anna Maria Martinez and a surprise performance by Michael Bolton. In addition, Bocelli presented the first foundation award presentation of a Girard-Perregaux ww.tc Shadow timepiece to iconic music recorder and producer Quincy Jones for his worldwide philanthropic efforts. Andrea Bocelli also wore his Girard-Perregaux 1966 small second watch for the evening.

GRAHAM introduces its new friend

Keith Flint is the new friend of GRAHAM, front man of The Prodigy group and endurance motorbike racer. The Prodigy has sold more than 25 million records worldwide in 21 years of existence. With a dozen consecutive singles which reached the top of British and American charts, the band is a legend in the electronic music movement. Incendiary, eccentric, disruptive, well-known for his numerous tattoos & body piercing and spiky hair, Keith is a passionate and true artist. Live performer, Keith is also mad motorcyclist. With his team, Team Traction Control, Keith races round some of the most prestigious circuits showing the same grit and determination as on stage. He is a big GRAHAM supporter. British, bold and gutsy GRAHAM’s Chronofighter Oversize Diver Deep Black has been created to fit Keith.

IWC celebrates Peter Lindbergh’s Portofino exhibition

IWC Schaff-hausen, the official watch partner of the Dubai International Film Festival (DIFF), presented Peter Lindbergh’s Portofino exhibition during the official charity evening of the DIFF and Oxfam International. The gala dinner and the charity auction were followed by an IWC-hosted, exclusive after-party with a special performance by Friend of the Brand Ronan Keating. The glamorous event took place at the Armani Hotel and attracted more than 500 guests – including international and local celebrities. To underline its CSR activities, IWC donated a unique Portuguese Tourbillon Hand-Wound for the charity auction on behalf of Dubai Cares and Oxfam International.

CYRUS announces new brand ambassador

In 2011, CYRUS, the independent Swiss watch brand, and Freddy Nock, met for the very first time. Freddy Nock, during his exploits as a tightrope walker, walks on a long cable (each time longer and higher for that matter, than before) with a balancing pole. Now imagine that this pole is replaced by two CYRUS watches, one on each wrist. And then Freddy Nock starts to walk on his steel cable with only the power of CYRUS as his source of balance. As of 1 December 2011, all exploits of Freddy Nock will be carried out with CYRUS watches on his wrists. Already the next world records are in sight, in Europe and in Asia. Prepare yourself for meaningful moments. Two spirits combine into one, and together, set off to conquer the world.

Product Launch

The Twenty-8-Eight Automatic by DeWitt

The Twenty-8-Eight Automatic is a lively and sunny timepiece, remarkably refined and sober. The face of the watch is artistically divided in two different guilloche zones. In the centre, a light flame pattern provides incredible life to the dial as the slightest wrist movement will animate the flames in graceful reflections. The second pattern, at the perimeter, takes the form of a regular and reassuring sunray that structures the whole design. Flames and sunrays are separated by a fine circle applique that gives a final touch of shiny elegance and echoes the thin and polished columns on the bezel. Time has never been more readable as large Roman numerals are positioned on the four cardinal points and discretely interconnected by small Arabic numerals positioned at five minutes intervals.

Jaquet Droz presents the new Tourbillon Watch

Jaquet Droz presents two exclusive timepieces associating one of its most emblematic models – the Grande Seconde – with the tourbillon complication, a masterpiece of precision watchmaking. Freeing the mechanical watch from the effects of gravity, the tourbillon confers outstanding reliability. Here, it comes enclosed in a white-gold case with a Cotes de Geneve dial or a red-gold case with a Grand Feu enameled dial. Once again, Jaquet Droz pushes back the limits of the watchmaker's art by unveiling a tourbillon carriage crafted from sapphire crystal, an exceptional material, also used for the figure-8 shaped ring applied to the dial. The impact of this virtuoso feat of craftsmanship is heightened by the classical beauty of the hours and minutes subdial at six o'clock.

A Holiday of Tiffany Treasures

Tiffany & Co. designs holiday gifts that will be treasured for generations. Exquisite diamonds and colorful gemstones, gold and sterling silver jewelry and elegant accessories gleam with legendary style. Each gift is wrapped in the Tiffany Blue Box®, an international symbol of quality and design excellence. A pendant showcases an emerald-cut sapphire of deeply saturated color. Tiffany designers framed the 26.23-carat stone in a magnificent setting of sparkling diamond baguettes and round and pear-shaped stones. These incomparable Tiffany designs are available at Tiffany & Co. locations worldwide.

F.P.Journe reveals timepiece for Valentine’s Day 2012

F.P.Journe has revealed two timepieces for Valentine’s Day 2012. To array your beloved with diamonds and moon phase, the romantic complication. The Octa Divine F.P.Journe automatic in platinum set with 2.56 cts of diamonds on pearly white leather strap, central hour and minutes, small second, moon phase, power reserve of 120 hours, large date and 18K rose gold movement. For your man to be on time to your rendez-vous! Octa Reserve in 18K red gold with automatic winding, 120 hours power reserve, small second and large date. 18K red gold case, white gold dial and 18K rose gold movement.

Black Belt Spirit Winter Camp

The Black Belt team is proud to present its latest numbered and limited edition series of 100 pieces only. Designed by Yvan Arpa, the Black Belt Winter Camp collection celebrates the timeless values of Bushido: Courage, Respect, Honor, Loyalty and Rectitude. The new model features a steel bezel and is called Black Belt Winter Camp reminding us of the extreme-conditions training camps in Japan. Owners of a Black Belt Winter Camp watch will be asked to agree to live by the code of Bushido values. The same values that traditional Japanese Samurai were bonded to live by. Courage, Respect, Honor, Loyalty and Rectitude – values it owners will always remember when wearing the watch.  

Bell& Ross presents the BRS Military Ceramic

Bell & Ross has presented its latest creation, the BRS Military ceramic. The timepiece features 39 mm diameter, ETA quartz, Index, figures and hands covered inphotoluminescent coating, anti-reflective sapphire lined with a tinted mineral crystal, hours, minutes and small seconds. This watch is 50 meters water resistance and with olive drab strap.

Edox launches the new "Dakar Limited Edition" Timepiece

The new Edox Dakar Limited Edition timepiece possesses the brand's much-prized values: strength and technicity. Boasting the attribute of the perfect sporting vehicle, the new Dakar Limited Edition is imbued with the same steel as are the nerves of the Dakar drivers. With its solid 42mm diameter, the quartz movement is robust, made to withstand extremes of temperature, impacts, sand and earth. The dial faithfully depicts the route of the South American tour. The black back offers perfect visibility, and sets off the white detail of the dial magnificently. The Dakar is a 500-piece limited edition, each piece supplied in an exclusive presentation box. Edox is the official timekeeper of the Dakar Rally Raid in 2012, 2013 and 2014.

Exclusive Cufflinks by Montegrappa

Montegrappa presented the accessories that along with the pen, cannot afford not to be in a gentleman's collection - the cufflinks. Montegrappa has developed two exquisite lines of cufflinks to complement its luxurious lines of writing instruments, the Lifestyle Cufflinks and the Limited Edition Cufflinks. All Montegrappa, NeroUno cufflinks are made of steel and feature a special pivoting device at the end of a curved arm. NeroUno cufflinks are also available in PVD gunmetal and PVD rose gold finishes, with varying degrees of embellishment depending on the model. Montegrappa limited edition writing instruments are distinguished by choice of materials, exclusive manufacturing techniques and painstaking attention to detail. Some of the most famous models of pens, like the mythical Dragon, or the latest Chaos designed by Sylvester Stallone take life in a collection of cufflinks, also in limited edition.

TAG Heuer LINK Smartphone Exclusive Precious collection

The TAG Heuer LINK is the ultimate communication tool. It is the first luxury smartphone with a touch screen, it is also the first equipped with Google Android operating system. Unlike anything else in the luxury market, the TAG Heuer LINK is a high-performance machine of unprecedented functionality. Stand out features include lightning-fast connectivity, 16-million color screen resolution, a large 3.5’’ display, a high-definition 5-mega-pixel auto-focus camera, 11 hours of music listening time, and, through its avant-garde Android operating system, access to download over 250,000 applications. It also comes fully loaded with a host of exclusive TAG Heuer add-ons: customized screen designs, widgets, animations, wallpapers, icons and ring tones.

Celebrity News

Jessica Chastain choses Jaeger Le Coultre 101 Etrier

One of the world’s rising stars, Jessica Chastain, who played in the 2011 films The Help, The Debt, Take Shelter, and The Tree of Life, will take on the role of Princess Diana in the upcoming film Caught in Flight. Having chosen to wear Jaeger-LeCoultre watch at Venice International Film Festival, she accentuated her look with 101 Etrier, a diamond-set watch with the smallest mechanical movement in the world, for her Red Carpet appearance in Marrakech.

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