This year's BaselWorld watch and jewellery show was the most successful so far, with attendance at an all-time high and most exhibitors delighted by the sales they made.
Watch aficionados visiting for the first time would have been delighted by the quality and variety of exhibits, but regular visitors were probably a little disappointed by the lack of exciting, entirely new watches.
With a few notable exceptions, the BaselWorld exhibition last month pointed to a year of consolidation rather than innovation.
Demand for high-grade watches with mechanical movements is continuing to grow. Most watch houses are brimming with confidence and optimism, but this is tinged with a little caution.
The specialist companies that produce the basic movements, or ebauches, that so many companies depend on may have underestimated demand. As a result, there are whispers that later this year there may be a shortage of movements.
If this proves to be true, then some models may be in short supply by Christmas.
Switzerland has long been renowned for the quality of its watches and in most parts of the world the words 'Swiss made' on the dial are recognised as a sign of quality, but now 'Made in Germany' is also an epithet that signifies high quality.