BASEL, Switzerland—The premiere watch fair BaselWorld 2018 offered insight into what wealthy people are willing to spend, with its staggering display of tiny, priceless accessories that tell time and decorate a wrist.
The preeminent watch and fine jewelry fair, once a massive testimony to the roaring economies of China and Russia, has reduced its footprint by half. In its heyday, it spanned nine buildings with booths touting hundreds of millions of dollars of priceless mechanical movements and precious gems. This year, 650 exhibitors occupied four buildings instead of 1,300 exhibitors in nine buildings.
