SHARJAH, 3 November 2006 — The MidEast Watch and Jewelry Show, which is currently on at the Sharjah Expo Center, is showcasing a range of exquisite watches and gold, precious stones, pearl sets and diamond jewelry.
Among the major items at the event are a diamond-studded lady’s watch worth over AED69,000, and a necklace with a very rare 56-carat ruby. The Swiss-made watch was studded with over 10 carats of diamonds in Saudi Arabia.
Also available are two equally beautiful diamond-studded watches, one for man and the other for woman. The man’s watch is priced at AED22,700 and the lady’s watch is valued at AED41,600.
For the jewelry connoisseur, the 42-carat diamond-studded necklace with the rare single piece 56-carat ruby is a major attraction. It comes as a complete set along with earrings, ring, and a bracelet. Whereas the earrings are studded with 17.11-carat ruby and 10.25-carat diamond, the ring is studded with 8.7-carat ruby and 2.33-carat diamond. The bracelet has 21.56-carat ruby and 10.73-carat diamond. The value of the total set is over half a million dirhams.
Another diamond and emerald-studded jewelry set that is on display at the stand of Istanbul has also been attracting considerable interest from lovers of fine jewelry. The set consists of three pieces - a necklace, a ring, and earrings. The necklace, studded with 88.45-carat diamonds and 62.74-carat emerald, is priced at AED1,909,920 ($ 519,000). The ring studded with 4.24-carat diamonds and 8.9-carat emerald is valued at AED 203,872 ($ 55,400). The earrings with 26.3-carat diamonds and 25.06-carat emerald is valued at AED826,160 ($ 224,500). The total value of the set is AED2,939, 952 ($798,900).
The event, which will end today, is hosting over 300 master jewelers from across the globe. Besides individual participation from Saudi Arabia, Bahrain, Hong Kong, India, UAE and other countries, the event is featuring country pavilions from Hong Kong, India, Italy, Thailand, Malaysia, and Singapore.
Imports of Swiss Watches Increase
The UAE’s total imports of Swiss watches during 2005 amounted to AED1.04 billion ($283.39 million) making it the top importer of watches in the Middle East followed by Saudi Arabia with imports worth AED 521 million ($142 million — up 7%). This was announced by luxury Swiss watch manufacturer Baume & Mercier at a press conference in Dubai.
Speaking to reporters at the Fairmont Hotel in Dubai to mark the launch of a special limited edition watch range, Baume & Mercier CEO, Michel Nieto remarked, “Swiss watch exports for the year 2005 totaled AED 36.03 billion ($9.82 billion) establishing a new record and surpassing by 10.9 percent the already high levels of 2004.”
Speaking on behalf of Ahmed Seddiqi & Sons, COO, Mohammed Seddiqi said that the event marked the launch of a limited edition watch range comprising 150 exclusive pieces. “We have decided to donate a significant percentage of the proceeds from the sale of this watch to charity. We are honored to play a key role in offering our assistance to Rashid Paediatric Therapy Center, the humanitarian organization that provides quality education, therapy and other services to children with Special Needs,” said Seddiqi.
