Gaysorn to host luxury Watch fair

Three outlets - PMT The Hour Glass, Pendulum and The Swatch Group - have joined hands with Gaysorn Land Asset Management, which operates Gaysorn mall, to hold a big timepiece event.

"The Art of Time" exhibition will be held from July 2-20.

The event will showcase more than 100 watches worth Bt500 million with 30 art works worth Bt200 million.

"Thailand still offers a high potential as a high-end watch market that can grow further," said Gaysorn chairman Charn Srivikorn.

"The import duty for watches is only 5 per cent. We already have many renowned watch retailers. We can also reach specific types of high-end buyers."

The industry had seen considerably growth in the first quarter.

Swatch Group recorded 30-per-cent growth, while Pendulum saw a 20-per-cent uptick.

Thailand ranks as the 13th-largest importer of Swiss watches.

The import value ranges from Bt8 billion to Bt10 billion a year.

Many rare and historical watches from the three retailers and art pieces from Timothy Yarger Fine Art will be on display.

Watch experts will also share knowledge of these timepieces.

"We hope more people will get to understand why the watches are valuable and learn how to collect them," Charn said.

The show requires a Bt10-million investment, with 60 per cent going into advertising.

Gaysorn expects to receive 15,200 visitors per day, up from the normal 13,200 visitors it gets daily. Its shoppers are split 50/50 between locals and foreigners.

Its key markets from abroad are China, India, Hong Kong, Singapore, Japan and the United Arab Emirates.

Gaysorn saw 12-per-cent growth in the first quarter, slightly better than in the same period last year.