General buzz is that 2012 is going to be a big year, with everyone from economists to astrologers gushing about signs that point to a year filled with good luck and new opportunities for prosperity and happiness. We might have the Dragon to thank for that.

Today heralds the arrival of the Year of the Dragon. Chinese New Year, or more accurately the Lunar New Year, is observed across the world among Asian cultures as the beginning of a new phase in a twelve-year cycle, each marked by a different animal in the Chinese zodiac. It is the most important of all traditional Chinese holidays and the 15-day New Year celebration is rich with symbolism and customs all centered around securing abundance for the year ahead.

There hasn’t been this much global excitement over Chinese New Year since 2007′s year of the Golden Pig, an occasion that only happens once every 600 years. Unlike in European cultures, which usually represent dragons as fierce animals to be feared, Chinese dragons traditionally symbolize power and good luck. The Dragon is considered the mightiest and most esteemed of all the signs and a Dragon year is believed to be particularly auspicious. Powerful, mystical, and magical Dragon is the bringer of spring rain. In Asia, where it actually is spring now, rain is welcome as it nurtures growing crops; metaphorically speaking, rain symbolizes the force that brings life to all things. Dragon grants blessings and is the symbol of power.

For details on what we can expect from the Year of the Dragon, I consulted my friend, expert Eastern astrologer Susan Levitt:

Dragon is the most powerful sign of the Chinese zodiac so anticipate a year that is exciting, creative, and over the top. Dragon’s influence inspires passion, drive, and daring. Dragon year is an excellent time to start a business, get married, have a child, or take incredible risks. But results can be drastic: undreamed of success or unrealistic fantasies that crash. Either way, life’s pace is speedy, dynamic, and anything can happen. Should Dragon year’s maximum volume leave you overwhelmed, take time off to retreat and rest. On a planetary level, expect extreme earth changes such as earthquakes, tidal waves, and volcanic eruptions.

The Chinese Dragon is wildly generous, overly benevolent, and extremely lucky, unlike the Western interpretation that Dragon is evil. Protective and powerful Dragon is the most sacred mystical animal in Chinese history. Dragon is a very ancient symbol in China, from the time of the dinosaurs. Proud and strong Dragon symbolizes royalty, wisdom, and prosperity. Magical Dragon can transform into any type of creature, and can overcome all challenges.

Everyone I know is looking forward to 2012 with excitement and anticipation. Many are starting new businesses or launching into new phases of their lives with creative endeavors or new projects. We couldn’t ask for anything better than such Dragon-like qualities to guide us through the year. (Just make sure to have your disaster kit ready for those earthquakes and tidal waves.) Check out Susan’s website to find out what the Dragon has in store for you.

A Chinese proverb states that all creations are reborn on New Year’s Day. The Chinese New Year is a celebration of change … a time to sweep away all that is old and unpleasant to make room for everything shiny and new.

That may be one explanation for why Hong Kong luxury IPOs are busy chasing the Dragon. “By 2015 China will account for around 20% of global luxury sales, according to McKinsey & Co., surpassing Japan as the world’s largest luxury market.” Even many Western companies are rushing to list on the Hong Kong stock exchange to take advantage of its current strength and growth anticipated in 2012.

Retailers have been working overtime to create special Year of the Dragon products, particularly targeting the Asian market, where the demand for luxury goods is strong and Chinese New Year traditions and beliefs are deeply ingrained in the culture. Like Rolls Royce, whose limited edition Year of the Dragon Phantom, priced at $1.2M, had already sold out by the first week of January. Haute horlogerie is taking full advantage of Dragon desire (and the strength of the Chinese market), with several watch brands paying homage to the imperial dragon and reviving traditional crafts and jewelry-making techniques to create exquisite time pieces the likes of which most of us will never see. In the article Year of the Dragon Is the Time to Strike, The New York Times provides excellent descriptions of dragon symbology and the extraordinary work that went into the creation of these truly amazing watches.

“Dragons in Chinese mentality have always been considered auspicious creatures carrying positive symbolic values,” Carson Chan, managing director and watch specialist at the auction house Bonhams Hong Kong, said by e-mail recently, pointing out that it was also an important symbol of imperial authority.

Conscious of this link, many watch brands have chosen to use the design of an imperial dragon, which is traditionally represented with a long serpentine body, a pair of horns and five claws. The imperial dragon often cradles a large pearl, which is believed to represent the wisdom of the emperor’s thoughts and commands. Only the clothing of the Chinese emperor was allowed to depict the five-clawed dragon, whereas that of his officials and other nobles had three-clawed or four-clawed dragons depending on their seniority.

If you happen to have a spare $380,000 or so lying around (which is the price of the Altiplano Double Jeu, the most expensive watch in the collection), you could treat yourself to one of the watches from Piaget’s dragon series. If nothing else, the craftsmanship and attention to detail that went into making these literal gems is drool inducing. Frankly, I was fascinated.

In a more-is-more approach, Piaget of La Côte-aux-Fées, Switzerland, has gone all out with a Dragon & Phoenix series that offers watch lovers a choice of 24 different models with engravings, cloisonné or enamel features of dragons or a phoenix. The phoenix, which Chinese tradition considers the queen of all birds and a symbol of virtue, represents the feminine yin to the dragon’s masculine yang and was usually associated with the Chinese empress.

Using a range of existing models, from Piaget’s ultrathin calibers to the Tourbillon Relatif, artisans have adorned them with the mythical creatures using a variety of techniques. The Piaget Altiplano’s grand feu enamel dial is decorated with the fierce head of an imperial dragon using a cloisonné technique that outlines the dragon in pure gold wire, while the bezel is paved with 78 brilliant-cut diamonds.

With the Piaget Emperador XL, a tourbillion model, Piaget designed a dragon in the shape of the number eight and set it with 257 brilliant-cut diamonds.

The Dragon is all about image so 2012 is definitely the year to step up your sartorial game. At Chinese New Year it is traditional to wear new clothes from head to toe to symbolize starting anew in the new year, as if we fashionistas needed any further justification. Now is the time when we’re beckoned to toss out the old and grungy in favor of new and refined. It’s all about dressing for the success of Dragon Year.

Even if a diamond-encrusted dragon watch is not in your shopping budget, there are plenty of other ways that you can get in on the Year of the Dragon accessories trend. There is virtually no limit to the variety of Dragon products available, from jewelry of all kinds to sneakers, bags, wallets, iPhone covers, sterling silver USB key fobs, barware, and even nail polish. The list goes on and on.

Still solidly in the most-of-us-can’t-afford-it category are two gorgeous handbags by Versace, one in silk with an embroidered dragon and jeweled decoration and the other in Chinese red python skin. Both are only available in Asia, of course. For those of us stateside who long for a dragon to carry on our arm, Coach and Bally both have Year of the Dragon offerings. Coach teamed up with Chinese tattoo and street artist Zhang Lan to create a series of bags and wallets that feature a traditional golden Chinese dragon painted on the brand’s signature “C” pattern. Bally’s dragon bag is a messenger style designed for men, featuring an embroidered gold and red dragon, with matching leather high-tops. For women, they’ve created a phoenix tote with matching flats. (Dragon and Phoenix are often depicted together and the Phoenix is considered the feminine yin to Dragon’s masculine yang. While the Dragon is the symbol for the Emperor, the Phoenix symbolizes the Empress.)

Of course, the writer in me is particularly enamored of the Cross Year of the Dragon pen collection and Shanghai Tang and Moleskine’s collaboration to create two Year of the Dragon notebooks. Of everything here, these are the pieces I most want to own. With the “mightiest sign of the Chinese Zodiac into [my] hand” imagine the amazing things I could write in a “notebook [that] features China’s most auspicious, powerful and successful symbol, the Dragon, embossed on the iconic Moleskine black cover.” Both the Dragon Notebook and the Feng Shui Diary have “classic Moleskine features – the elastic closure, paper band, bookmark and inside cover are all coloured in Shanghai Tang’s signature colour scheme.” The Cross pens, available as a fountain pen, rollerball or ballpoint, feature “layer upon layer of hand polished, high gloss lacquer, painstakingly etched with this iconic symbol of passion and strength.” The pens come in black and red trimmed with 23k gold plating and come in a special edition gift box with a booklet explaining the significance of the Dragon.

What I found curious and somewhat amusing was how universally sports equipment companies are jumping on this trend, although perhaps it shouldn’t be all that surprising given athletes’ propensity toward the superstitious when it comes to their performance. Why wouldn’t they want to get in on a little bit of Dragon luck? (And in the case of folks like Nike, not a little of the Dragon lucre.)

There is a special dragon Chuck Taylor All Star Hi from Converse. Nike has released a range of limited edition Year of the Dragon trainers, and Puma and Air Jordan both have created Year of the Dragon “packs” that contain specially designed accessories to go along with the shoes. All of them are beautifully designed (for athletic gear) but I have to give props to the Jordan Brand for getting into the spirit of the Dragon, even though they’re making a bit of a stretch by equating Michael Jordan’s lucky number 9 with Chinese mythology (8 is the number universally revered in Chinese culture).

While it’s fun to look at pretty things and even maybe buy a few of them to start the new year with something shiny and new, there are ancient and earnest customs behind the celebration of Chinese New Year whose purpose is to ensure happiness, health, togetherness, luck and prosperity in the year ahead. Family and community are very important, and good fortune and abundance come in many forms. I’ve written about many of these beliefs and traditions in my posts about Year of the Rabbit and Year of the Tiger.

May the mighty and benevolent Dragon bring you the very best year in 2012. Gong Hey Fat Choy!