Rolex partner in Glasgow shuts down as owners fail to find a buyer before retiring

Eric Smith Diamonds & Designs in the Glasgow suburb of Newton Mearn is closing after 45 years in the jewellery and watch business.

The shop sells mainly its own jewellery designs and is also an official Rolex partner and stocked Ebel, Longines and Chopard.

Eric Smith and his wife Yvonne had been trying to sell the business as they move towards retirement, but a buyer could not be found so they decided to shut up shop.

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Mr Smith told WatchPro that there were several interested buyers but had been told that the Rolex agency would not be transferred to any new owner. “This put them off the deal,” he said.

Another buyer wanted Mr and Mrs Smith to stay on for two years running the business, but they were keen to make a clean break and retire after 45 years in the trade.

“We have achieved everything we wanted to achieve so we called it a day,” Mr Smith said.

The business had a team of experienced jewellery and watch professionals, but Mr Smith is delighted to report that all of them have found other positions within the industry.

Eric Smith Diamonds & Designs was the smallest Rolex partner in Glasgow. Laings, which also has Patek Phillipe, is the largest. Watches of Switzerland also has the brand in the city.

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