IT HAS so far been another eventful year for watch collectors and enthusiasts in Singapore, thanks to the big three watch retailers based here - Cortina Watch, Sincere Watch and The Hour Glass. The investment and time put in to draw not only the local consumers, but also overseas shoppers, have been substantial.

Jewellery Time by Cortina Watch showcased high-end jewellery pieces from the major watch brands. The World Exclusives by Sincere Watch catered more to discerning watch collectors and also highlighted the Sincere Haute Horlogerie Boutique at the Hilton Hotel as the destination shopping place for unique and rare timepieces. Both exhibitions showcased watches for sale that were worth tens of millions of dollars.

Next up is The Hour Glass, which has formed the Foundation of Contemporary Horological Art (FOCHA),an institution claiming to be the world's first in promoting the art and culture of contemporary watchmaking and appreciation. As part of the plans, there is also a Museum of Contemporary Art (Mocha) in the works. The Hour Glass has initially pledged two million Swiss francs for its endeavours. Mocha will be positioned as a symbolic institution comparable to the likes of the Museum of Modern Art in New York and the Tate Modern in London.

Why is Singapore the ideal watch hub? "Singapore's strategic importance to the watchmaking universe is underpinned by the fact that despite its small physical size, it commands one of the highest watch-per-capita ownership worldwide. It also has tremendous content knowledge, to the point that Singaporeans are regarded by international watch manufacturers as opinion leaders on the subject of mechanical timepieces," observes Mr Michael Tay, executive director of The Hour Glass.

Currently, Singapore is among the top 10 importers of Swiss watches worldwide and the top three retailers here hold some very important house brands, which they exclusively distribute in Singapore and the region. For example, Chronoswiss Asia, a unit of Cortina Watch, is the exclusive distributor for Chronoswiss, while The Hour Glass holds exclusive distributorships for brands like Philippe Dufour,Harry Winston and Daniel Roth. .