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Swiss Price List from 1973; Are Prices Really This Low?

Is there an explanation for what I am seeing here? Seems to be a Swiss price list; is definitely dated January 1, 1973, and research tells me that the exchange rate was 3.77 Swiss Francs to the US Dollar. If this is all correct, then we have the Reference 1153 Carrera (on Corfam strap) selling for $122; in the United States, it was selling for $215 in March 1973. I know that the US Dollar was devalued in February 1973, but can the disparity between these two prices really be this large? Could the Carrera 1153 have sold for only $122 in Switzerland, and almost twice that amount in the US?

Am I missing something simple? Is "S.Fr." really Swiss Francs (usually CHF)? Could this be a wholesale price list? Were the Heuers really so much less expensive in the home country?

Thanks for helping me solve this puzzle.

Jeff

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