$350,000 Swiss watch ups nose at recession in US

Even as the masses are embattled by tough times, there's no stopping the rich from indulging.

One wouldn't think this would be the best time to introduce a $350,000 ultra-luxurious Swiss watch brand into the American market, but Cephee SA, Geneva, Switzerland, feels the time couldn't be better.

Cephee has introduced a new line of high end certified Swiss-made watches, through noted Swiss watchmaker Christophe Golay. Cephee is a collection of masterworks from the combined talents of master artisans of watch and jewelry. "The new watch line is in a class by itself," said Golay.

A London-based market research firm, Ledbury Research, recently examined the changing demands of the high-net-worth customer. It found out that wealthy consumers will continue to spend, but that their purchasing decisions will be based more on exclusivity as well as quality and dependability.

A published article noted that instead of novelty, the wealthy will be seeking out authenticity. Despite tough times, luxury is not disappearing. High-net-worth consumers are becoming more "brand sophisticated" – looking for limited editions and other timely and unique items.

The first watch to be introduced under the new Cephee brand is the Ether. With over 150 precision set baguette diamonds, it will retail for $350,000 through select retailers. All diamonds used in the Cephee collection are of an exceptional quality: D, E, and F color, with clarity of Top Wesselton VVS1 to Pure. A unique technique of invisible channel setting allows each stone to reflect all the light that it absorbs, without interruption by a metal bead.