US Tariffs: Patek Philippe “to Hike Prices by 15%”

Patek Philippe will reportedly hike watch prices by 15 per cent tomorrow (Monday 15 September) in response to US reciprocal tariffs.

If confirmed, it will be Patek Philippe’s third price rise in the US this year, according to the WatchPro website.

Prices were increased in January because of soaring gold prices and the strength of the Swiss franc, and in April as a response to the US announcement of across-the-board tariffs.

Authorized dealers will also have their margins cut. Patek Philippe will be the first Swiss watchmaker to raise prices since the US introduced 39 per cent tariffs on 7 August.

Watchmakers rushed to export their goods ahead of the tariff deadline, resulting in a 6.9 per cent increase during July.

But price increases in the near future are almost inevitable as the reciprocal tariffs bite and stocks need replenishing.

One of the lowest-priced Patek Philippes, the $26,000 stainless steel Patek Philippe Aquanaut Ref. 5167A-001 (pictured) will cost $30,000 if the price increases take place.

Source: DCLA

Small Rise in US Watch and Jewelry Sales

The modest increase largely reflects a rush by exporters to get their goods into the US before the tariff deadlines and retailers stockpiling for the same reason.

It offsets low consumer demand, which is being compounded by ongoing anxiety over US reciprocal tariffs which are expected to force up prices.

Average monthly growth in watch and jewelry sales so far, for the first seven months of this year, has been around 0.6 per cent, compared to over 5 per cent last year.

Sales in June were down 0.9 per cent, a figure that has been revised up from the original -1.7 per cent, based on actual transactions rather than estimates.

Exports of Swiss watches were up 6.9 per cent, largely driven by manufacturers front-loading their shipments to avoid 39 per cent US tariffs.

Source: DCLA

US Watch and Jewelry Sales Dip in June Ahead of Tariffs

Watch and jewelry sales in the US slipped into negative growth during June – down 1.7 per cent – after 19 months of almost uninterrupted increases.

The decline, after such a prolonged positive period, reflects growing concern over the impact of US reciprocal tariffs which came into force on 1 August, along with broader economic uncertainty in the market and higher gold prices.

Meanwhile the US Department of Commerce has made significant changes to figures published last month. Sales for May have been revised down from +2.8 per cent to +0.7 per cent, based on actual transactions rather than estimates, and April is down from +2.3 per cent to +1.8 per cent.

The original figures indicated that things were better than they actually were, especially after a number of months when monthly sales increases were hovering just above zero. The June dip appears to signal a downturn ahead of the 1 August implementation of tariffs.

Source: IDEX

Swiss Watch Slump: Exports to China down 25%

Swiss watch exports slumped in February, down 8.2 per cent, with sales in China down by a quarter.

The Federation of the Swiss Watch Industry Exports (FHS) described it as a “marked slowdown in an uncertain climate”.

It follows a brief return to growth in January, when foreign sales rose by 4.1 per cent after a 2024 marked by steady decline.

China, the third biggest market for Swiss watches, saw sales plunge by 25 per cent year-on-year in February. Exports to Hong Kong, the second biggest market, fell by 12.5 per cent, and they were down 19.1 per cent to Japan.

In the US they fell 6.7 per cent, in marked contrast to a 16.2 per cent increase the previous month.

“Most of the main markets saw significant declines in February,” the FHS said in its monthly update. “Swiss watch exports fell back by 8.2% in February, despite a favourable base effect.”

The six biggest markets, representing just over half of all Swiss watch exports, recorded a combined decease of 12.5 per cent.

Mid-priced watches – CHF 500 to CHF 3,000 ($550 to $3,300) – suffered the biggest losses, down over 15 per cent by value.

Source: IDEX

US Watch and Jewelry Sales Dip in January

Sales of watches and jewelry in the US dipped in January, for the first time in well over a year. They were 3.0 per cent less than the previous January, according to the latest figures from the US Department of Commerce.

In addition, revisions to November and December sales figures now show slower growth than originally reported.

Figures based on actual through-the-till transactions, rather than estimates, put sales at +2.6 per cent and +1.5 per cent respectively, rather than the revised figures of +3.0 per cent and +4.0 per cent.

Sales of watches and jewelry had been in positive growth since October 2023, and they peaked last September and October at around 10 per cent. Prior to that they’d been in overall decline since October 2022.

Source: DCLA

“Sharp Contraction” for Swiss Watch Exports

Swiss watch exports slumped in December, with the US suffering its first drop in six months.

Total foreign sales were down 5.4 per cent year-on-year to CHF 2.033bn ($2.23bn) in what the Federation of the Swiss Watch Industry Exports (FHS) said was a “sharp contraction”. It’s the biggest drop since June 2024 (-7.2 per cent).

Sales in China continued their decline (down 19.0 per cent), ditto Hong Kong (down 6.4 per cent). Hong Kong is currently the second biggest market globally for Swiss watches and China is the third.

Exports to the biggest single market, the US, fell by 1.0 per cent during the month, ins spite of the holiday season, following on from a 4.7 per cent increase in November.

Among the top 15 markets, the only ones to show growth during the month were UAE (+0.6 per cent), United Kingdom (+5.8 per cent), Spain (+19.3 per cent) and Australia (+7.2 per cent).

The FHS said it recorded falls in all price segments, with the sharpest decline among watches priced at CHF 200 to CHF 500 ($220 to $550). The CHF 500 to CHF 3,000 ($550 to $3,300) segment held up better, declining by just 1.8 per cent.

Source: Idex

Breguet’s Classique Tourbillon: A dazzling mix of diamonds and precision

The latest Breguet watch is a marvelous piece with beautiful diamonds and a unique design. It symbolizes the brand’s innovative spirit and horological elegance, passed down through time. 

Thanks to a unique stone-setting technique, the watch has an elegant pattern that makes the dial stand out. According to Breguet, the Classique Tourbillion 3358 is the embodiment of Abraham Louis Breguet’s ideas, which date back to 1801.

Abraham Louis, the founder of the brand, came up with a unique technique of setting gems on a watch’s dial in the 19th century. While this timepiece has a dazzling front face, it also stands out due to its mechanical precision. Abraham Louis’ innovations merged these two fields into one—mechanical precision and style.

The dial comes with different diamonds, set in different positions to create a circular pattern that converges at one point, reflecting light stylishly. Stones are positioned close to one another to cover the base that supports them.

In terms of performance, this timepiece is powered by one of the most innovative movements from the brand, the in-house caliber 187D tourbillon, which is capable of offering a 50-hour power reserve. It’s a movement that was developed for precision and accuracy by Abraham Louis but has been updated over the past few decades to keep up with the times.

Speaking of which, the watch’s dial has different cuts, which offer views into the mechanism. While the front face features hundreds of diamonds, the back has an interesting moon-like texture, characterized by grooves and ridges.

Source: DCLA