When You Think Deluxe, Think...East Germany?

Small companies are winning markets with sumptuous goods

At Lange Uhren, in the sleepy town of Glashutte, craftsmen such as Frank Wolf don jeweler's loops every day and lovingly fashion some of the world's most exquisite timepieces. They assemble gold and platinum beauties from 360 handmade parts, often taking 40 hours to finish one watch. Top-end models sporting the name A. Lange & Suhne fetch up to $87,000.

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