Rolex watches are some of the most sought-after timepieces in the world. Last year, a vintage Rolex Daytona worn by Paul Newman was sold at auction for USD 17.8 million. There's even a rumor that in order for a Rolex to actually leave the factory or be a Rolex design it has to be recognizable from 20 feet away.
What makes this wristwatch brand so expensive, though?
Firstly, Rolex is one of the few brands that has a very specific aesthetic. They are sporty, they are active and they are tool watches.
In the 1950s, the producer came out with the Submariner, the Explorer, the Milgauss, the GMT and they were all watches that were designed and made to be used as tools. That's how it still is today. What's interesting about them is they initially were tool watches which have now become luxury.
The Submariner costs USD 8,000. The entry-level watch at Rolex is USD 5,000 with the Oyster Perpetual.
Their three qualities are self-winding, waterproof and precision. And they really focus on quality. It takes one year to make a Rolex. They go through extensive testing.
The accuracy, the chronometer, the timing, it's all about telling the right time, keeping the right time. They also have extensive service work after, so if you ever have a problem with your Rolex, you can take it to them and they'll fix it. The clasp is opened and closed a thousand times before it leaves so you know that when you get it, it's not gonna break.
The whole point of a Rolex is you buy one now, it will last you for 20 years if you take care of it. It will last you for 100 if you really take care of it. That's ultimately why they're so expensive because you're buying something that will last you a lifetime presumably and something that you can pass down to other generations as well.
No one knows how many Rolexes are produced per year and no one knows how many Rolexes are produced per model. No one knows exactly what the number is, only that there aren't that many and that they're hard to get. One of the best things about Rolex is that anyone can wear any of them. They're very unisex, and the ladies Datejust is actually the most sold Rolex model of all time.