A measure of any Asian businessman is the time he keeps and, far more importantly, the watch he wears to mark it.

A handshake can be soft or firm but will likely soon be followed by a glance to the wrist to see the watch wrapped around it, especially in China.

A heavy slab of gold could be a marker that the person is from an inland city. A more expensive, understated watch could be a sign that they’re from the coastal cities of Shanghai, Shenzhen or Beijing.

Luxury-brand awareness is growing among China’s super rich, who recognize 20% more of the lavish brands than they did last year, according to the Hurun Report.

The 2011 Best of The Best Survey, which interviewed 401 Chinese mainland millionaires, each with assets of more than 10 million yuan ($1.5 million), said the super rich in China are developing more sophisticated tastes in luxury products.

“Chinese entrepreneurs are getting more and more sophisticated, discerning and confident in their personal style, and what they aspire to, as they try to turn new money into old money,” said Rupert Hoogewerf, founder of the Hurun Report.

The Trossi Leggenda wristwatch, pictured right with its original owner, Count Carlo Felice Trossi, the racing driver who won the 1947 Italian Grand Prix, has sold at auction for a record 2.35 million Swiss francs ($2,157,760).

The large gold Patek Philippe watch owned by the Italian count, who was the president of Scuderia Ferrari and also raced speedboats, reached the highest price for a watch at Sotheby’s, the auction house said.

A gold Rolex from about 1980, known as the Oyster Daytona Paul Newman, sold for SwFr157,000 in the same auction.

It has been a long time since Patek Philippe gave us a skeletonized watch, and the Ref. 5180/1 showcased at this year’s Baselworld is definitely well worth the wait.

Featuring an ultra-thin self-winding caliber 240 movement with a 22K gold mini-rotor integrated into the plate, this watch is simply a joy to behold.

To fully appreciate a skeletonized watch, try imagining the number of days, hours, and minutes it takes to painstakingly chip away the dial, plates, bridges, and cocks to their bare minimun, and still achieve a fully functional timepiece.