Surveys Show an Increase in the Sales of Diamond Jewelry Watches

By Rachel

January 7th, 2011

The exquisite Rain of Hearts Watch by William Goldberg

As we enter into the new year, many industries are hopeful that sales will increase and they will move further from the losses caused by the recent economic downturn. There is great news for those selling diamond jewelry watches, 2011 looks very promising. While the overall sales of luxury diamond jewelry, including watches, did show an increase in the last quarter of 2010, sales of watches are expected to show even further improvement in the months to come.

Spending in the luxury jewelry category increased by three percent in the third quarter of 2010, according to a report from American Express Business Insights, but the average individual transaction for the sale of luxury jewelry, including diamond jewelry watches, increased by six percent. While buyers came from all age groups, for the most part, the purchasers were men above the age of 46.

Huub van der Riet, the fund manager of the ING IM Prestige and Luxe Fund, recently reported to The Economic Times that, “Swiss watch export data is very promising and there is huge growth potential.” He believes that the catalyst to the growth of his fund is a direct result of the large increase in global high net worth individuals, whose increase indispensable income allows them to invest in diamond jewelry and watches. Van der Riet also commented that, “Compared to other luxury products, like handbags for example, brand recognition in the watch industry tends to be higher.” In fact, the fund manager also reports that, “Demand over the last year has been so high and is growing at such a high rate that retailers have been able to hike their prices without sales figures suffering.”

For those nervous about seeing real growth in the sales of luxury items, specifically diamond jewelry watches, van der Riet also remarked that, “I am aware that the economic situation is still on edges and that there are a number of risk factors – U.S. employment figures, volatile stock market sentiment, and the risk of terrorist attacks, to name a few – but I am still confident that we can expect to see growth.”

This is great news for luxury jewelry makers, especially those that offer diamond jewelry watches. While ING’s top holdings in the IM Prestige and Luxe Fund include the American Tiffany and Co. and the French LVMH Moet Hennessy Louis Vuitton SA, most all retailers of fine watches can expect to see an increase in demand.

This positive economic news is especially attractive to Chopard, who has been selling fine watches, including lines of diamond watches since 1860. Known internationally for their state-of-the-art technology and excellence of craftsmanship, Chopard has become a leading brand in the luxury watch industry. Chopard has strict company values and remains and fully independent family firm to this day, active not only in creating high quality jewelry, but in social and philanthropic commitments as well.

Many luxury watches may not include diamonds, but for those that want additional sparkle in their timepiece, Chopard offers several lines with the precious stones. Their diamond jewelry watches are offered in lines for both men and women, one of the most popular being the Happy Sport. This exceptional watch was an instant hit, combining stainless steel or gold with diamonds in an urban-contemporary style.