The focus is on watches made of diamonds and gold, with Bt1 million price tags and more, said managing director Dr Soipetch Resanond, adding that pink diamond prices had risen 20 percent, and gold and white diamonds 10 per cent apiece.

She said watches worth more than Bt1 million were popular among the rich because their value increases on average 10 to 15 per cent a year. This allows the company to raise retail prices by the same percentages. Sales in the past six months have grown 10 per cent.

Bachtold, an importer of high-end Swiss watches - like Corum, Ventura, Century and Viene Altair - also has buyers lined up for its premium model: Classical Tourbillong Sapphire 2006. Three Thais are among Corum's 25 customers worldwide who have reserved the model. The price is Bt12 million.

The model is among 40 others that will be showcased in Bachtold's Basel Fair In Bangkok 2006 at the Peninsula Plaza during May 25-31. Prices range between Bt100,000 to Bt12 million. The company expects to sell 100 watches that a price more than Bt1 million each.

Corum in Thailand has 3,000 customers. It has opened the Corum Forum Club for those who have been buyers for five years and have already bought 50 watches with an accumulated value of at least Bt50 million. The privileges offered are the right to reserve new models and free tickets to attend the Basel Fair in Switzerland.

Yesterday, the company awarded club membership status to 25

customers and expects to welcome up to 60-80 new members by year's end.

Soipetch said that the club strengthened loyalty among its customers and attracted new ones.

The luxury watch market is worth Bt8 billion and rising 15-18 per cent each year. The company has more than a 10 per cent share of the luxury timepiece market.

Sales last year grew 30 per cent. This year, it expects to sell 3,000 Corum watches and 2,000 other brands, worth more than Bt1 billion. Corum accounts for 80 per cent of its total sales.

Nitida Asawanipont

The Nation