Frank Michelsen, the Reykjavik watchmaker and retailer whose shop was attacked in an armed robbery last month, says that demand for the recovered stolen Rolex watches is sky high. Read the full story

A man is being held by Icelandic police following the 17th October armed raid on a Reykjavik Rolex watch shop. His alleged accomplices all left the country by air right after the theft took place. Read the full story

Demand for luxury items such as jewellery and expensive watches has not diminished in Iceland, despite the financial crisis; in fact these items are selling like never before and there is a long waiting list for Rolex watches which cost more than ISK 1 million (USD 7,650). Read the full story