For the jobless man living on welfare who made the find in an English farmer's field two months ago, it was the stuff of dreams: a hoard of early AngloSaxon treasure, probably dating from the 7th century and including more than 1,500 pieces of intricately worked gold and silver whose craftsmanship and historical significance left archaeologists awestruck.
When the discovery was announced on Thursday, experts described it as one of the most important in British archaeological history. They said it surpassed the greatest previous discovery of its kind, a royal burial chamber unearthed in 1939 at Sutton Hoo in Suffolk that was fashioned from the hull of an ancient ship. That find shaped scholars' understanding of the warring Anglo-Saxon kingdoms of 1,300 years ago that ended up as the unified kingdom of England.
The new trove includes items that one expert in Anglo-Saxon artifacts said brought tears to her eyes: gold items weighing 11 pounds (5kg) and 5.5 pounds (2.5kg) of silver.
Tentatively identified by some experts as bounty from one of the wars that racked Middle England in the 7th and 8th centuries, they included dagger hilts,pieces of scabbards and swords, helmet cheekpieces, Christian crosses and figures of animals like eagles and fish.
Archaeologists tentatively estimate the value of the trove at ฃ1 million (54 million baht) but say it could be many times that. And they took a vicarious pleasure in noting that the discovery was not the outcome of a carefully planned archaeological enterprise, but the product of a lone amateur stumbling about with a metal detector.
"People laugh at metal detectorists,"Terry Herbert,55, who made the find,told the BBC on Thursday at a news conference at the Birmingham Museums and Art Gallery, where the objects are on display for two weeks."I've had people go past and go,'Beep, beep, he's after pennies.' Well no, we're out there to find this kind of stuff, and it is out there."
Mr Herbert spent 18 years scouring fields and back lots without finding anything more valuable than a piece of an ancient Roman horse harness. Now under British laws governing the discovery of ancient treasures, he stands to get half the value of the booty.
When his discovery was announced Thursday, he kept his wish list modest,saying he would like to use some of his windfall to buy a bungalow.
Since the July day when his detector picked up traces of the hoard beneath a field in Staffordshire, a Midlands county that was at the centre of the ancient Anglo-Saxon kingdom of Mercia, Mr Herbert said, he has been seeing piles of gold in his sleep.
Awake, he has quietly celebrated his triumph over all the people who mocked him in the years when a typical day's finds amounted to little but scrap.
As for his fellow hunters in the Bloxwich Research and Metal Detecting Club,he said,"I dread to think what they'll say when they hear about this."
He said that on the day of his discovery he reworked a mantra that he regularly used for good luck."I have this phrase that I say sometimes -'Spirits of yes-terday, take me where the coins appear'- but on that day I changed 'coins' to 'gold'. I don't know why I said it that day, but I think somebody was listening."
From the Birmingham museum, the Staffordshire treasure, much of it still encrusted with dirt, will go to the British Museum in London, where the artifacts will undergo months, possibly years, of study by archaeologists and historians.
A court ruling by a Staffordshire coroner this week - conducted in secret - declared the finds to be treasure,meaning that they belong to the British crown, which is expected to offer them for sale.
The crown's practice, established in part by the many shipwrecks recovered off Britain's shores, is that a reward equal to the value of the items - likely to be set in a bidding war among British museums - will be divided between Mr Herbert as the finder, and the farmer who owns the field where the discovery was made. His name and the location of the farm (beyond the fact that it is around Lichfield, north of Birmingham) have not been disclosed, to allow archaeologists to continue searching the area for more treasure.
At the news conference, experts said that Mr Herbert's initial discovery, which he reported to a Staffordshire County official responsible for archaeological discoveries, was followed by a dig that was strictly supervised by professional archaeologists. They were assisted, the experts said, by a team from Britain's Home Office that normally works on crime scene forensics.
The experts said that a painstaking search of the area had turned up no trace of a grave, a building or anything else that suggested a careful plan to bury the objects for later recovery. They said that information, and the fact that none of the discoveries appeared to be jewellery or other feminine items, added to the likelihood that the treasure was war bounty. It may have been seized by one of the 7th century Mercian kings men like Penda, Wulfhere and Aethelred - who pursued an aggressive, plundering policy toward neighbouring kingdoms.
One of the features that led specialists to suggest the items might have been seized in battle and prized for their value in precious metal and jewels rather than as trophies, was that many appeared to have been decorative pieces ripped from other objects.
The three Christian crosses in the find had been bent into folds, as had a strip of gold with a biblical inscription in Latin of a kind likely to have been favoured by an ancient warrior:"Rise up, O Lord, and may thy enemies be dispersed and those who hate thee be driven from thy face."
Archaeologists, anthropologists and historians who participated in the Staffordshire dig, or who have studied the finds at the Birmingham museum, competed in the superlatives they used in describing the treasure.
"My first view of the hoard brought tears to my eyes; the Dark Ages in Staffordshire have never looked so bright nor so beautiful," Deb Klemperer, an expert on Staffordshire artifacts of the Anglo-Saxon period, told the Guardian .Kevin Leahy, an expert on Anglo-Saxon metallic objects who has been helping catalogue the items, described their craftsmanship as "consummate" at Thursday's news conference.
He added:"All the archaeologists who have worked with the finds have been awestruck. It's actually been quite scary working on this material to be in the presence of greatness."NYT
"I have this phrase that I say sometimes - 'Spirits of yesterday, take me where the coins appear'-but on that day I changed 'coins' to 'gold'. I don't knowwhy I said it that day, but I think somebodywas listening."
This combination of images obtained on Thursday from Britain's Staffordshire County Council shows a folded cross (top left), a gold and garnet scabbard boss (top right), a hilt fitting (above left) and a selection of items of Anglo-Saxon gold and silver (above right) found in a field in central England.
Monday, September 28, 2009
Saxon treasure find souring friendship
A stunning hoard of Anglo-Saxon treasure went on show yesterday but the golden trove's lustre was tarnished by a reported row between the two men who will share the fortune it sells for.
The discovery of the biggest ever such haul, at least 1,350 items, including 5kg of gold, found in a field in central England by a metal detector hobbyist in July was announced on Thursday. And yesterday it was unveiled to the public at the Birmingham Museum and Art Gallery, where visitors will be able to view a selection of items until Oct 13.
But the show was marred by a reported row between the 55-year-old unemployed man who stumbled upon it, and the farmer in whose field it was found.
Farmer Fred Johnson said the discovery had soured his relationship with Terry Herbert, who has been metal detecting for the last 18 years, and was using his trusty 14-year-old detector when he made the life-changing find.
"I'm not happy with Terry," he was quoted as saying by The Times newspaper."I think it is more about the money for him, and I'm going to have to confront him about that.
"Me and Terry agreed to keep it all low-key and I thought that would be the case. It is not about the money for me.It's an incredible find for the country and that's what is more important," he added.
The value of the haul has yet to be decided, but one expert, Roger Bland of the British Museum in London, said he expected it to fetch "a seven-figure sum",- which will be shared equally by Mr Herbert and Mr Johnson.
The hoard is believed to date from the seventh century AD, and may have belonged to Saxon royalty. The treasure includes sword pommel caps and hilt plates, many inlaid with precious stones.
Mr Herbert has so far been publicity shy, and did not respond to the farmer's remarks. But on Thursday he described the discovery as "more fun than winning the lottery".
"Imagine you're at home and somebody keeps putting money through your letterbox, that was what it was like. I was going to bed and in my sleep I was seeing gold items," he said.
A fellow member of Bloxwich Research and Metal Detecting Club, voiced surprise Mr Herbert had made the find.
"If you had told me someone had made such an amazing discovery I would never have thought it was Terry," Colin Pearson,64, was quoted as saying.
"If he turns up for a dig at 12 o'clock he'll normally spend an hour with his metal detector out and the remaining four hours talking," he added.
The discovery of the biggest ever such haul, at least 1,350 items, including 5kg of gold, found in a field in central England by a metal detector hobbyist in July was announced on Thursday. And yesterday it was unveiled to the public at the Birmingham Museum and Art Gallery, where visitors will be able to view a selection of items until Oct 13.
But the show was marred by a reported row between the 55-year-old unemployed man who stumbled upon it, and the farmer in whose field it was found.
Farmer Fred Johnson said the discovery had soured his relationship with Terry Herbert, who has been metal detecting for the last 18 years, and was using his trusty 14-year-old detector when he made the life-changing find.
"I'm not happy with Terry," he was quoted as saying by The Times newspaper."I think it is more about the money for him, and I'm going to have to confront him about that.
"Me and Terry agreed to keep it all low-key and I thought that would be the case. It is not about the money for me.It's an incredible find for the country and that's what is more important," he added.
The value of the haul has yet to be decided, but one expert, Roger Bland of the British Museum in London, said he expected it to fetch "a seven-figure sum",- which will be shared equally by Mr Herbert and Mr Johnson.
The hoard is believed to date from the seventh century AD, and may have belonged to Saxon royalty. The treasure includes sword pommel caps and hilt plates, many inlaid with precious stones.
Mr Herbert has so far been publicity shy, and did not respond to the farmer's remarks. But on Thursday he described the discovery as "more fun than winning the lottery".
"Imagine you're at home and somebody keeps putting money through your letterbox, that was what it was like. I was going to bed and in my sleep I was seeing gold items," he said.
A fellow member of Bloxwich Research and Metal Detecting Club, voiced surprise Mr Herbert had made the find.
"If you had told me someone had made such an amazing discovery I would never have thought it was Terry," Colin Pearson,64, was quoted as saying.
"If he turns up for a dig at 12 o'clock he'll normally spend an hour with his metal detector out and the remaining four hours talking," he added.
$1,200 NOW ANTICIPATED THIS YEAR
Gold will hit a new historic high of US$1,200 (Bt40,300) per ounce this year on anticipation of a continuing depreciation in the US dollar, predicts YLG Bullion International CEO Pawan Nawawattanasub.
The new high will possibly be marked by gold subsequently remaining above $1,000 throughout an entire week for the first time this year, she said.
"I admit predicting the gold price is difficult. Trading above the $1,000level could be due mainly to speculaฌtion, because the wholesale price now is only $750 to $850 an ounce. Thus, trading in gold carries a high risk right now. It's inappropriate for longterm investment, and investors should trade daily instead," she said.
YLG Bullion International, Thailand's leading trader of 99.99percent bullion, said 60 per cent of its cusฌtomers now were speculators, up from 40 per cent not very long ago.
The global price moves in a range of $1,000 to $1,030 an ounce, and its next resistance will be $1,080 if the price punches through the $1,030barrier.
However, gold will change to a downward cycle immediately if the price falls below $980 an ounce.
The company late next month will unveil online trading for physical gold, she said.
The system will undergo a trial run, and YLG's existing customers are expected to be the first group to use it.
Online trading is expected to raise the company's number of wholesale clients dramatically over the next three years, from 300 now to 5,000.
The company's wholesale cusฌtomers account for 60 per cent of the total value of imported gold.
Pawan said its YLG Bullion & Futures subsidiary planned to increase its market share in goldfutures trading to 15 per cent by yearend, from 10 per cent now, jumping to 20 per cent next year.
The number of sales agents will increase from 22 to 50 by yearend, and they will be the main driver for the estimated higher market share, said Pawan.
The company will not be affected if the Thailand Futures Exchange decides to reduce the size of goldfutures contracts from 50 baht weight to 10 baht, in order to solicit retail investors.
"We must admit it would be a major move to cut the size of the futures conฌtract to 10 baht weight each. It would make an impact on physicalgold traders, because more retail investors would turn to the papergold market. We've spoken with physicalgold traders in India, and they say about 20 per cent of them shut down each year in the first five years following the inauฌguration of the goldfutures market," she said.
Meanwhile, according to Bloomberg, gold gained in London as the dollar weakened against the euro, increasing the metal's appeal as an alternative investment.
The dollar fell as much as 0.4 per cent against the euro as a report showed German business confidence rose to a 12month high this month. Bullion has climbed 15 per cent so far this year, while the dollar, which on Wednesday slid to its lowest level in a year against the single European curฌrency, has lost 5.4 per cent.
"The dollar and risk sentiment will continue to lead gold in coming sesฌsions," James Moore, an analyst at BullionDesk.com in London, said in a note. Bullion is "well placed to set fresh highs", he said.
Immediate-delivery bullion rose $6.25, or 0.6 per cent, to $1,014.65 an ounce late yesterday morning. December gold futures were 0.2percent higher at $1,016.10 on the New York Mercantile Exchange's Comex Division.
The metal rose to $1,014 an ounce in yesterday morning's "fixing" in London, used by some mining compaฌnies to sell production, from $1,010.25 at Wednesday afternoon's fixing. Spot prices are trading 1.7 below a record $1,032.70 set in March 2008.
The US Federal Reserve yesterday said it would keep interest rates low for an "extended period". It also said it would slow its purchases of mortgage securities, seeking to avoid disrupting the housing market as an economic recovery takes hold.
The new high will possibly be marked by gold subsequently remaining above $1,000 throughout an entire week for the first time this year, she said.
"I admit predicting the gold price is difficult. Trading above the $1,000level could be due mainly to speculaฌtion, because the wholesale price now is only $750 to $850 an ounce. Thus, trading in gold carries a high risk right now. It's inappropriate for longterm investment, and investors should trade daily instead," she said.
YLG Bullion International, Thailand's leading trader of 99.99percent bullion, said 60 per cent of its cusฌtomers now were speculators, up from 40 per cent not very long ago.
The global price moves in a range of $1,000 to $1,030 an ounce, and its next resistance will be $1,080 if the price punches through the $1,030barrier.
However, gold will change to a downward cycle immediately if the price falls below $980 an ounce.
The company late next month will unveil online trading for physical gold, she said.
The system will undergo a trial run, and YLG's existing customers are expected to be the first group to use it.
Online trading is expected to raise the company's number of wholesale clients dramatically over the next three years, from 300 now to 5,000.
The company's wholesale cusฌtomers account for 60 per cent of the total value of imported gold.
Pawan said its YLG Bullion & Futures subsidiary planned to increase its market share in goldfutures trading to 15 per cent by yearend, from 10 per cent now, jumping to 20 per cent next year.
The number of sales agents will increase from 22 to 50 by yearend, and they will be the main driver for the estimated higher market share, said Pawan.
The company will not be affected if the Thailand Futures Exchange decides to reduce the size of goldfutures contracts from 50 baht weight to 10 baht, in order to solicit retail investors.
"We must admit it would be a major move to cut the size of the futures conฌtract to 10 baht weight each. It would make an impact on physicalgold traders, because more retail investors would turn to the papergold market. We've spoken with physicalgold traders in India, and they say about 20 per cent of them shut down each year in the first five years following the inauฌguration of the goldfutures market," she said.
Meanwhile, according to Bloomberg, gold gained in London as the dollar weakened against the euro, increasing the metal's appeal as an alternative investment.
The dollar fell as much as 0.4 per cent against the euro as a report showed German business confidence rose to a 12month high this month. Bullion has climbed 15 per cent so far this year, while the dollar, which on Wednesday slid to its lowest level in a year against the single European curฌrency, has lost 5.4 per cent.
"The dollar and risk sentiment will continue to lead gold in coming sesฌsions," James Moore, an analyst at BullionDesk.com in London, said in a note. Bullion is "well placed to set fresh highs", he said.
Immediate-delivery bullion rose $6.25, or 0.6 per cent, to $1,014.65 an ounce late yesterday morning. December gold futures were 0.2percent higher at $1,016.10 on the New York Mercantile Exchange's Comex Division.
The metal rose to $1,014 an ounce in yesterday morning's "fixing" in London, used by some mining compaฌnies to sell production, from $1,010.25 at Wednesday afternoon's fixing. Spot prices are trading 1.7 below a record $1,032.70 set in March 2008.
The US Federal Reserve yesterday said it would keep interest rates low for an "extended period". It also said it would slow its purchases of mortgage securities, seeking to avoid disrupting the housing market as an economic recovery takes hold.
Thursday, September 24, 2009
Dollar down, gold and oil rise
The dollar weakened for the first time in three days against the euro aon speculation group-of-20 leaders this week will call for gains in other currencies to help reduce global trade imbalances.
Gold rose for the first time in four days in London as a sliding dollar boosted demand for the preciousmetal as an alternative investment.
Crude oil also rose for the first time in four days before a report forecast to show US crude supplies contracting, while a weaker dollar boosted the investment appeal of commodities.
The greenback fell versus 14 of the 16 major currencies after a spokesman for Canadian Prime Minister Stephen Harper said leaders meeting in Pittsburgh on September 24-25 will discuss "a frameworkd for balanced and sustainable growth".
New Zealand's dollar rose toward a six-week high against the yen after a government report showed the current-account deficit shrank to the narrowest in more than four years.
"There's talk that world leaders may seek to address the US imnalances," said Masashi Kurabe, head of currency sales and trading in hong Kong at Bank of Tokyo Mitsubishi UFJ, a unit of Japan's biggest publicly trded bank. "This may lead to weakness in the dollar."
The US currency dropped to $1.4714 per euro as of early afternoon in Tokyo, from $1.4680 on Monday in New York. It declined to 91.75 from 91.93 and weakened to $1.6237 per pound from $1.6217. The yen was little changed at 135.01 versus the euro from 134.96.
New Zealand's dollar strengthened 1.2 per cent to 65.79, after earlier climbing to 65.89, the highest level since August 10. The so-called kiwi rose 1.5 per cent to 71.71 US cents. Australia's dollar advanced 0.7 per cent to 86.93 cents.
The US dollar Index, a six-currency gauge of the currency's strength, slipped as much a s.9 per cent as signs the global economy is recovering spurred investors into buying higheryielding assets.
The measure has dropped 6.3 per cent this yer as gold, trading 1.9 per cent below a record $1,032.70 an ounce set in March 2008, has climbed 15 per cent.
"It's mainly dollar driven" and "in the longer term we still expect more dollafr weakness," said Walter de Wet, a London-based Standard Bank analyst. "When we approached the mid-$990 level, there was some physical buying coming in and providing some support."
COMMODITIES
Immediate-delivery bullion gained $9.80, ir 1 per cent, to $1,013.50 an ounce by mid-morning local time. The commodity on Monday dropped as low as $995.97 an ounce. December gold futures were 1 per cent higher at $1,014.90 an ounce on the New York Mercantile Exchange's Comex division.
US crude oil inventories declined a fourth week,according to analysts surveyed by Bloomberg News before an Energy Department report due today. Official data showed net crude oil imports by China,Asia's largest consumer, rose 18 per cent to 17.92 million tonnes in August, the second highest on record.
Gold rose for the first time in four days in London as a sliding dollar boosted demand for the preciousmetal as an alternative investment.
Crude oil also rose for the first time in four days before a report forecast to show US crude supplies contracting, while a weaker dollar boosted the investment appeal of commodities.
The greenback fell versus 14 of the 16 major currencies after a spokesman for Canadian Prime Minister Stephen Harper said leaders meeting in Pittsburgh on September 24-25 will discuss "a frameworkd for balanced and sustainable growth".
New Zealand's dollar rose toward a six-week high against the yen after a government report showed the current-account deficit shrank to the narrowest in more than four years.
"There's talk that world leaders may seek to address the US imnalances," said Masashi Kurabe, head of currency sales and trading in hong Kong at Bank of Tokyo Mitsubishi UFJ, a unit of Japan's biggest publicly trded bank. "This may lead to weakness in the dollar."
The US currency dropped to $1.4714 per euro as of early afternoon in Tokyo, from $1.4680 on Monday in New York. It declined to 91.75 from 91.93 and weakened to $1.6237 per pound from $1.6217. The yen was little changed at 135.01 versus the euro from 134.96.
New Zealand's dollar strengthened 1.2 per cent to 65.79, after earlier climbing to 65.89, the highest level since August 10. The so-called kiwi rose 1.5 per cent to 71.71 US cents. Australia's dollar advanced 0.7 per cent to 86.93 cents.
The US dollar Index, a six-currency gauge of the currency's strength, slipped as much a s.9 per cent as signs the global economy is recovering spurred investors into buying higheryielding assets.
The measure has dropped 6.3 per cent this yer as gold, trading 1.9 per cent below a record $1,032.70 an ounce set in March 2008, has climbed 15 per cent.
"It's mainly dollar driven" and "in the longer term we still expect more dollafr weakness," said Walter de Wet, a London-based Standard Bank analyst. "When we approached the mid-$990 level, there was some physical buying coming in and providing some support."
COMMODITIES
Immediate-delivery bullion gained $9.80, ir 1 per cent, to $1,013.50 an ounce by mid-morning local time. The commodity on Monday dropped as low as $995.97 an ounce. December gold futures were 1 per cent higher at $1,014.90 an ounce on the New York Mercantile Exchange's Comex division.
US crude oil inventories declined a fourth week,according to analysts surveyed by Bloomberg News before an Energy Department report due today. Official data showed net crude oil imports by China,Asia's largest consumer, rose 18 per cent to 17.92 million tonnes in August, the second highest on record.
Swiss watch exports fall at slower pace
Demand for Swiss watches fell 22% in August, when the pace of decline eased for the second month in a row, but appetite for timepieces remained weak in the key Hong Kong and US markets, the Swiss watch federation said.
The value of sales slipped to 843 million Swiss francs ($814 million) in August,falling below 2006 levels. Swiss watch exports have fallen 26% to 8.1 billion francs so far this year, the industry body said yesterday.
"August, which is traditionally a quieter month for the branch, saw 1.1 million watches exported from Switzerland, i.e. 590,000 less than in August 2008," the Federation of the Swiss Watch Industry said in a statement.
Exports to Hong Kong tumbled 26%,while US demand shrank by 37%. But appetite for watches rose 20% in China,making it the third most important market for Swiss exports in August.
"Swiss watch exports in August continued the trend with just a slight slowdown in the decline. It is in line with expectations. The positive surprises were China, up 20%, and Singapore, up 9.6%," said Vontobel analyst Rene Weber.
"This confirms our case for Swatch Group with highest exposure to Asia ex Japan," he said."We also expect a decline of 20% for September due to a high comparison base, but the fourth quarter of this year should get easier."
The industry, home to Swatch Group,the world's largest watchmaker, and luxury goods group Richemont, is facing its most severe drop in demand in 20 years as consumers spend less on luxury items due to worries about job losses and the shrinking value of their portfolios.
But some watchmakers, such as Swatch Group, have hit a more optimistic tone about the outlook in recent weeks.
Demand for watches costing 200-500 francs at export price remained the most resilient category, contracting 15%, while the fall in exports of watches priced over 500 francs posted a relative improvement on previous months, with their value 23% lower, the federation said.
"For the sixth consecutive month,the lower-priced segments performed better than the overall market," said Citi analyst Thomas Chauvet.
The value of sales slipped to 843 million Swiss francs ($814 million) in August,falling below 2006 levels. Swiss watch exports have fallen 26% to 8.1 billion francs so far this year, the industry body said yesterday.
"August, which is traditionally a quieter month for the branch, saw 1.1 million watches exported from Switzerland, i.e. 590,000 less than in August 2008," the Federation of the Swiss Watch Industry said in a statement.
Exports to Hong Kong tumbled 26%,while US demand shrank by 37%. But appetite for watches rose 20% in China,making it the third most important market for Swiss exports in August.
"Swiss watch exports in August continued the trend with just a slight slowdown in the decline. It is in line with expectations. The positive surprises were China, up 20%, and Singapore, up 9.6%," said Vontobel analyst Rene Weber.
"This confirms our case for Swatch Group with highest exposure to Asia ex Japan," he said."We also expect a decline of 20% for September due to a high comparison base, but the fourth quarter of this year should get easier."
The industry, home to Swatch Group,the world's largest watchmaker, and luxury goods group Richemont, is facing its most severe drop in demand in 20 years as consumers spend less on luxury items due to worries about job losses and the shrinking value of their portfolios.
But some watchmakers, such as Swatch Group, have hit a more optimistic tone about the outlook in recent weeks.
Demand for watches costing 200-500 francs at export price remained the most resilient category, contracting 15%, while the fall in exports of watches priced over 500 francs posted a relative improvement on previous months, with their value 23% lower, the federation said.
"For the sixth consecutive month,the lower-priced segments performed better than the overall market," said Citi analyst Thomas Chauvet.
Tuesday, September 22, 2009
La' Belle maker branches out into Swiss watches
After two decades of distributing La'Belle fashion products, Kaiserin Co is expanding its portfolio to younger consumers by introducing a Swiss watch brand.
The new business opportunity arose purely by chance when Kaiserin marketing director Chaluck Chivakasemsuk was stranded in the United States after the coup on Sept 19, 2006 while on a visit to promote the company's clothes.
"I met one watch distributor there and he introduced me to the Armand Nicolet brand. When I saw the watch, I liked it and finally became the distributor for the brand in Thailand," he said.
Mr Chaluck, 29, says he has loved watches since he was a child."The value of a watch doesn't mean only simple timekeeping but also its craftsmanship and aesthetic appeal. Its value rises every year as well, so I decided to run a watch business," he said.
Currently, Kaiserin sells two imported watch brands - Armand Nicolet, a classic luxury brand, and TechnoMarine, a luxury sports watch aimed at people who like sports and outdoor activities.
He plans to develop the watch business by adding one or two leading brands next year. However, the expansion will go step-by-step.
Armand Nicolet and TechnoMarine watches are currently available at six outlets - Central Chidlom, Lat Phrao,Pin Klao, Chaeng Watthana and Pattaya,and Siam Paragon - and will be sold at Central Bang Na from November.
The watches are also available at the 11th Central International Watch Fair at the Chidlom branch until Sept 27.The company is currently offering a 40-50% discount on Armand Nicolet watches and a free hotel room package for customers spending 90,000 baht on TechnoMarine watches.
Several new imported brands are entering Thailand, said Mr Chaluck."The prices of Swiss watches increase yearon-year when compared with other luxury items," he said.
Apart from watches, the company also plans to invest in developing serviced apartments in Sukhumvit Soi 103. Construction will start by year-end and finish in 2011. The building will have 160 units.
Kaiserin is also conducting a feasibility study to expand into skincare next year with a sun cream called Block 69.
The new business opportunity arose purely by chance when Kaiserin marketing director Chaluck Chivakasemsuk was stranded in the United States after the coup on Sept 19, 2006 while on a visit to promote the company's clothes.
"I met one watch distributor there and he introduced me to the Armand Nicolet brand. When I saw the watch, I liked it and finally became the distributor for the brand in Thailand," he said.
Mr Chaluck, 29, says he has loved watches since he was a child."The value of a watch doesn't mean only simple timekeeping but also its craftsmanship and aesthetic appeal. Its value rises every year as well, so I decided to run a watch business," he said.
Currently, Kaiserin sells two imported watch brands - Armand Nicolet, a classic luxury brand, and TechnoMarine, a luxury sports watch aimed at people who like sports and outdoor activities.
He plans to develop the watch business by adding one or two leading brands next year. However, the expansion will go step-by-step.
Armand Nicolet and TechnoMarine watches are currently available at six outlets - Central Chidlom, Lat Phrao,Pin Klao, Chaeng Watthana and Pattaya,and Siam Paragon - and will be sold at Central Bang Na from November.
The watches are also available at the 11th Central International Watch Fair at the Chidlom branch until Sept 27.The company is currently offering a 40-50% discount on Armand Nicolet watches and a free hotel room package for customers spending 90,000 baht on TechnoMarine watches.
Several new imported brands are entering Thailand, said Mr Chaluck."The prices of Swiss watches increase yearon-year when compared with other luxury items," he said.
Apart from watches, the company also plans to invest in developing serviced apartments in Sukhumvit Soi 103. Construction will start by year-end and finish in 2011. The building will have 160 units.
Kaiserin is also conducting a feasibility study to expand into skincare next year with a sun cream called Block 69.
Saturday, September 19, 2009
THE LAST OF THE EASTERN PLAYBOYS
We were in quite a rush to make the appointment for a photo shoot of Thanop Eiamamornpan - more commonly known as Mark. He was wearing a magnificent timepiece that had to be flown back to Singapore urgently.
After the photo shoot the timepiece came right off his wrist and was placed inside a security case and put on a plane.
In between shots, the former man-about-town talked amiably about his new image.
The 34-year-old is less of a party animal these days. He is happily married to Navipa, 29, and has a 20-month-old daughter, Namon. She will soon have a younger sibling as Navida is four months pregnant.
Many people know Mark as the heir to the family-owned Frank's Jewelry, an upscale watch boutique which bears the name of his father.
"Now I help overlook the family business by giving advice. I help with the business plan for new brands and products. For instance, today before we did the photo shoot, I was helping to negotiate a product to market in the future."
The watch that Mark wore for the photo shoot was a famous upmarket Swiss brand he is negotiating to bring to Thailand.
Mark's transition into the family business wasn't all plain sailing. His father was forced to fire him when he returned from studying abroad. "I was too aggressive and my dad couldn't handle me," Mark explained.
His father gave him a dose of reality by finding him a blue-collar job, which he worked at for six months.
"My father sent me to be a trainee at ThaiNamthip Limited, where I delivered cases of Coca-Cola, because he wanted me to learn that in life nothing comes easy."
Mark says he learned the intended lesson - that he was indeed born fortunate and daily survival is a struggle for people in Thailand surviving on the minimum wage.
"This makes me want to live a better life. Imagine eating boat noodles at the Peninsula Plaza. It costs 250 baht per bowl, which is equal to the daily wages of many people."
After the delivery job, Mark landed a job at AJF Asset Management, a joint venture between the Bank of Ayudhya and JP Morgan, where he was involved in private and investment banking. He was a star performer and developed his own method to deal with clients.
"Within a year I pulled in about 2.5 billion baht and I was only 24 years old," said Mark.
Mark cemented his name in the financial field and the Stock Exchange of Thailand asked him to host a television programme called SET in the City, offering consumer-friendly advice on investment. He hosted the show, which has been on the air almost a decade, for four years.
Since then, he has been a TV spokesperson and a guest lecturer at schools, universities and financial institutions.
But his life may have turned out differently if not for the intervention of his father at a formative age. As a 12-year-old he was in trouble at Eagle Brooks, a junior high school in Massachusetts in the United States. "I was punching the teachers," Mark confessed.
His father sent him to the Institute Le Rosey in Switzerland, where he was mentored by a family friend and member of the famed Piaget family which makes the prestigious watch brand of the same name.
Mark next went to Florida to obtain his bachelor's degree at Lynn University with a major in marketing.
"My father wanted me to have exposure to different countries. In Florida, I got an 'A' in beach volleyball. I took a class in advanced golfing and did very well. Other than that, I rarely went to class.
"Once I took my economics professor out for lunch. My friends and I were 18, and the professor was in his 40s. We had some vodka shots. My friends and I came back to the exam room and waited, ready to take the exam. The professor couldn't come back to give the exam because he was too drunk."
Now Mark is in the process of writing his second book, after a successful first effort - Hai Ngern Tum Ngarn (Let Your Money Work for You). It's been on the bestseller list for a long time, with more than 170,000 copies printed. "The book is about asset allocation, basically about how to make your money work for you in different ways."
His second book, which doesn't have a title yet, will also be about financial advice. "It will be about the global economy and the meltdown, what caused it, the effect it has, how it affects you individually and new ways of doing businesses. It's going to be similar to the first one, and it's certainly going to be easy to understand."
Anyone who knows Mark knows his passion has always been motorcycles.
"I enjoy speed machines or anything that can go fast without supplying my own power or energy. Perhaps you can call me lazy. When I was young, I used to collect the allowance that my parents gave me, and when they were gone for one week to Singapore, I secretly bought my very first motorcycle, a Honda CBR 400."
On the first day he owned the motorcycle he took a nasty fall, but still managed to keep a hot date, albeit covered in blood.
"My date ended up cleaning the blood for me and we are best friends up to this day. After we ate she took me to the hospital. Well, the lady came first."
His favourite bike today is a 1963 BMW R27, and he's also very fond of his limited edition Ducati 996 SPS.
"It's a real racing bike that you only need to add a few things to make it street legal," said Mark.
His third bike is a gift from his wife, a Sachs 150CC, which he has modified with a nitrous oxide booster. "This bike is for city use," said Mark.
He acknowledged that married life has been very good for him. "I still party, but now that we've got a kid, I have to party with more responsibility. I go home no later than midnight. I also drive my family back home from their grandmother's house every evening after I finish work so that we all can go home together."
Instead of going out, most nights Mark watches movies with his wife. He calls it "their time" - every evening after his daughter goes to sleep.
"We watch movies together until we both fall asleep," said Mark, who added that he fell in love with Navipa at first sight, but she never gave him the time of day because of his playboy reputation. But later she saw how well he treated her and decided to give him a chance.
"After a few months, I asked her to marry me because I was ready to settle down.
"Whereas before I used to get drunk every night, now I hit the gym every day at the Polo Club," he said.
Relate Search: Thanop Eiamamornpan, Frank Jewelry, ThaiNamthip Limited, Peninsula Plaza, Institute Le Rosey, Ngern Tum Ngarn
After the photo shoot the timepiece came right off his wrist and was placed inside a security case and put on a plane.
In between shots, the former man-about-town talked amiably about his new image.
The 34-year-old is less of a party animal these days. He is happily married to Navipa, 29, and has a 20-month-old daughter, Namon. She will soon have a younger sibling as Navida is four months pregnant.
Many people know Mark as the heir to the family-owned Frank's Jewelry, an upscale watch boutique which bears the name of his father.
"Now I help overlook the family business by giving advice. I help with the business plan for new brands and products. For instance, today before we did the photo shoot, I was helping to negotiate a product to market in the future."
The watch that Mark wore for the photo shoot was a famous upmarket Swiss brand he is negotiating to bring to Thailand.
Mark's transition into the family business wasn't all plain sailing. His father was forced to fire him when he returned from studying abroad. "I was too aggressive and my dad couldn't handle me," Mark explained.
His father gave him a dose of reality by finding him a blue-collar job, which he worked at for six months.
"My father sent me to be a trainee at ThaiNamthip Limited, where I delivered cases of Coca-Cola, because he wanted me to learn that in life nothing comes easy."
Mark says he learned the intended lesson - that he was indeed born fortunate and daily survival is a struggle for people in Thailand surviving on the minimum wage.
"This makes me want to live a better life. Imagine eating boat noodles at the Peninsula Plaza. It costs 250 baht per bowl, which is equal to the daily wages of many people."
After the delivery job, Mark landed a job at AJF Asset Management, a joint venture between the Bank of Ayudhya and JP Morgan, where he was involved in private and investment banking. He was a star performer and developed his own method to deal with clients.
"Within a year I pulled in about 2.5 billion baht and I was only 24 years old," said Mark.
Mark cemented his name in the financial field and the Stock Exchange of Thailand asked him to host a television programme called SET in the City, offering consumer-friendly advice on investment. He hosted the show, which has been on the air almost a decade, for four years.
Since then, he has been a TV spokesperson and a guest lecturer at schools, universities and financial institutions.
But his life may have turned out differently if not for the intervention of his father at a formative age. As a 12-year-old he was in trouble at Eagle Brooks, a junior high school in Massachusetts in the United States. "I was punching the teachers," Mark confessed.
His father sent him to the Institute Le Rosey in Switzerland, where he was mentored by a family friend and member of the famed Piaget family which makes the prestigious watch brand of the same name.
Mark next went to Florida to obtain his bachelor's degree at Lynn University with a major in marketing.
"My father wanted me to have exposure to different countries. In Florida, I got an 'A' in beach volleyball. I took a class in advanced golfing and did very well. Other than that, I rarely went to class.
"Once I took my economics professor out for lunch. My friends and I were 18, and the professor was in his 40s. We had some vodka shots. My friends and I came back to the exam room and waited, ready to take the exam. The professor couldn't come back to give the exam because he was too drunk."
Now Mark is in the process of writing his second book, after a successful first effort - Hai Ngern Tum Ngarn (Let Your Money Work for You). It's been on the bestseller list for a long time, with more than 170,000 copies printed. "The book is about asset allocation, basically about how to make your money work for you in different ways."
His second book, which doesn't have a title yet, will also be about financial advice. "It will be about the global economy and the meltdown, what caused it, the effect it has, how it affects you individually and new ways of doing businesses. It's going to be similar to the first one, and it's certainly going to be easy to understand."
Anyone who knows Mark knows his passion has always been motorcycles.
"I enjoy speed machines or anything that can go fast without supplying my own power or energy. Perhaps you can call me lazy. When I was young, I used to collect the allowance that my parents gave me, and when they were gone for one week to Singapore, I secretly bought my very first motorcycle, a Honda CBR 400."
On the first day he owned the motorcycle he took a nasty fall, but still managed to keep a hot date, albeit covered in blood.
"My date ended up cleaning the blood for me and we are best friends up to this day. After we ate she took me to the hospital. Well, the lady came first."
His favourite bike today is a 1963 BMW R27, and he's also very fond of his limited edition Ducati 996 SPS.
"It's a real racing bike that you only need to add a few things to make it street legal," said Mark.
His third bike is a gift from his wife, a Sachs 150CC, which he has modified with a nitrous oxide booster. "This bike is for city use," said Mark.
He acknowledged that married life has been very good for him. "I still party, but now that we've got a kid, I have to party with more responsibility. I go home no later than midnight. I also drive my family back home from their grandmother's house every evening after I finish work so that we all can go home together."
Instead of going out, most nights Mark watches movies with his wife. He calls it "their time" - every evening after his daughter goes to sleep.
"We watch movies together until we both fall asleep," said Mark, who added that he fell in love with Navipa at first sight, but she never gave him the time of day because of his playboy reputation. But later she saw how well he treated her and decided to give him a chance.
"After a few months, I asked her to marry me because I was ready to settle down.
"Whereas before I used to get drunk every night, now I hit the gym every day at the Polo Club," he said.
Relate Search: Thanop Eiamamornpan, Frank Jewelry, ThaiNamthip Limited, Peninsula Plaza, Institute Le Rosey, Ngern Tum Ngarn
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