Antique watches still a good buy in hard times

SHANGHAI: As the financial tsunami is destroying asset values around the world, hold on to your watches. They are holding up pretty well against the onslaught of the worst economic crisis since the Great Depression.

Of course, not all watches will do. They have to be timepieces of collector grade hand-made by the master craftsmen of renowned Swiss watch makers.

In a recent auction of antique watches by Christie's in Hong Kong, 84 percent of the items put on the block were sold, an unusually high ratio at any auction.