£500,000 watches up for grabs at Gulf Luxury Fair

First published: 31-07-2009

Diamond-encrusted iPhones and £500,000 watches have been made available to big spenders from the Middle East in a recent event held at London's Intercontinental Hotel.

In the first gathering of its kind in the UK, the Gulf Luxury Fair aims to bring in funds from the oil and cash-rich Arab states now that the pound is much weaker on the international scale, perhaps enticing a greater number of buyers looking to take advantage of better exchange rates.

The diamond-studded gold watches, with their jewellery counterparts, may end up bringing in around £250 million, it is expected - an increase of 11 per cent on the previous year's takings.

A notably popular Girard Perregaux watch - the Jackpot - is valued at £455,000 while the diamond iPhone - one of only two in existence - cost its recipient £89,000.

Countries such as the UAE, Egypt and Saudi Arabia continue to remain strong in the face of the global recession, owing mainly to the natural resources that such well-developed nations are lucky to have for trade.

© Copyright WATCH SHOP UK - DO NOT COPY

Related articles

Under the spotlight: STORM watches and jewellery

Posted: 27-11-2018

STORM London is known for breaking the rules with its edgy, sophisticated, and fun watch and jewellery designs. Get inspired to shatter expectations and check out some of our favourite STORM designs today.

Under the spotlight: Timex watches

Posted: 27-11-2018

Formal, sporty, vintage, or casual? Choose your next watch from the timelessly iconic Timex collection and combine legendary fashion with contemporary chic.

Under the spotlight: Guess

Posted: 27-11-2018

Make your next watch a Guess watch and choose from a range of gorgeous styles and designs for men and women. Whether you want reimagined vintage or stand-out chic, there’s a Guess watch for you.

A guide to buying a fitness watch for 2019

Posted: 27-11-2018

Use our guide to choose a watch that helps you hit your fitness targets this New Year, whatever your ability. Explore sharp designs from a range of top brands, including Polar, Garmin, Fitbit, and more.