Sales of expensive collector watches surged by nearly 20 per cent in Dubai auctions last year, says the auction house Christie's.
Vintage and limited edition watches worth US$2.5 million (Dh9.18m) were sold through its Dubai auctions, up 19.5 per cent on the $2.1m figure for 2009.
Alexandre Bigler, an associate vice president and specialist in the auctioneer's watch department, said: "Dubai is one of the emerging markets that we have where we, Christie's, have also been focusing our jewellery sales, With watches, we have realised in Dubai there are strong collectors and strong buyers, and we're trying to develop the market."
Last year's results came after a similar rise in 2009, when sales were up 19.3 per cent from $1.76m in 2008.
Sales growth in Dubai is in line with global trends, as Christie's International sold a record-breaking number of timepieces worldwide last year for a total of $91.2m.
The top watch worldwide was a Patek Philippe 1527 made in 1943 that sold for a record $5.7m at Christie's in Geneva.
"The market at the moment is showing strong signs of recovery. In Asia it is faster and the Middle East is also catching up," Mr Bigler said.
Demand for watches in the UAE is also picking up. In the first 11 months of last year the value of imported Swiss luxury watches reached 517.1m francs (Dh1.99 billion), up 30.2 per cent compared with the same period in 2009, the latest data from the Federation of the Swiss Watch Industry shows.
This is a marked turnaround from the 35 per cent drop in sales a year earlier.
Buyers at the Christie's sales in Dubai appear to have particular tastes. In addition to bejewelled pieces, collectors tend to gravitate towards exclusive, limited-edition timepieces of which only a couple of hundred are made, Mr Bigler said.
"It seems to be really what the market is craving for," he said.
"At the beginning, we thought they would be more into jewellery watches and diamonds set, and that is still the case.
"But their tastes are more complicated and finer than we thought."
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Who is Ramon Tribulietx?
Born in Spain, Tribulietx took sole charge of Auckland in 2010 and has gone on to lead the club to 14 trophies, including seven successive Oceania Champions League crowns. Has been tipped for the vacant New Zealand national team job following Anthony Hudson's resignation last month. Had previously been considered for the role.
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How being social media savvy can improve your well being
Next time when procastinating online remember that you can save thousands on paying for a personal trainer and a gym membership simply by watching YouTube videos and keeping up with the latest health tips and trends.
As social media apps are becoming more and more consumed by health experts and nutritionists who are using it to awareness and encourage patients to engage in physical activity.
Elizabeth Watson, a personal trainer from Stay Fit gym in Abu Dhabi suggests that “individuals can use social media as a means of keeping fit, there are a lot of great exercises you can do and train from experts at home just by watching videos on YouTube”.
Norlyn Torrena, a clinical nutritionist from Burjeel Hospital advises her clients to be more technologically active “most of my clients are so engaged with their phones that I advise them to download applications that offer health related services”.
Torrena said that “most people believe that dieting and keeping fit is boring”.
However, by using social media apps keeping fit means that people are “modern and are kept up to date with the latest heath tips and trends”.
“It can be a guide to a healthy lifestyle and exercise if used in the correct way, so I really encourage my clients to download health applications” said Mrs Torrena.
People can also connect with each other and exchange “tips and notes, it’s extremely healthy and fun”.
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Farasan Boat: 128km Away from Anchorage
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Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
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Low turnout
Two months before the first round on April 10, the appetite of voters for the election is low.
Mathieu Gallard, account manager with Ipsos, which conducted the most recent poll, said current forecasts suggested only two-thirds were "very likely" to vote in the first round, compared with a 78 per cent turnout in the 2017 presidential elections.
"It depends on how interesting the campaign is on their main concerns," he told The National. "Just now, it's hard to say who, between Macron and the candidates of the right, would be most affected by a low turnout."
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