We are going into the second half of the year, and we have seen big changes in the watch world. Last year saw some significant upheaval, such as when the Hong Kong market lost its strong position in terms of being the biggest and most important market in the world. Remember though that a lot moves through the HK market outwards, so clearly these aren’t just buyers living in the former colony. Also, note that it is in the interests of distributors and retailers to have as many sales as possible attributed to them so that they can get a better allotment of pieces. More boutiques, for example, should mean better access to the special limited editions and such. Anyway, Hong Kong was moving down. The United States was actually moving up. Europe was in general down. The Philippines? Everyone’s baby, a small market that was growing at a very impressive rate. This has its risks though, everyone moves quick money (in terms of financial markets and investments) in but that money can move out and the process can mess with consistency.