Why Are Rolex Watches So Expensive? The Truth About Rolex Watches
If you asked people about the most expensive watch, undoubtedly they would assure you that it is Rolex.
Rolex is a Swiss luxury watch manufacturer that was founded in 1905 by Hans Wilsdorf and Alfred Davis.
To say the best watch we know Rolex. Its perfect design, impeccable artwork had made it the most precious wrist watch for more than hundred years.
Rolex is one of the most popular and well-known brands in the world. But the question is why are Rolexes so expensive? Is it just because of the name?
In this blog post, we will take a closer look at what goes into the price tag of a Rolex watch and why they cost so much. Stay tuned for an in-depth look at this luxury brand!
At first, give a look to the price of some expensive Rolex watches.
In October 2017, Paul Newman’s ‘Exotic’ Rolex Daytona 6329 was sold for $17.8 (including fees) at an auction in New York. In the history of wrist watch, it is sold at the highest price. Then in May 2018 Rolex Daytona Reference 626 Unicorn sold at second higher price $5.9m in Geneva, Switzerland.
If you find Rolex at low price, then the cheapest Rolex is Oyster Perpetual which price is $5800. Remind it this is the cheapest Rolex watch. But Rolex at $20,000 is sold regularly.
Why Rolex are so expensive?
Rolex timekeepers are some of the most expensive watches in the world, and there are plenty of good reasons for that. The reasons are:
Designing Rolex watches costs a lot
Rolex spends a lot of money for designing. Even to build a new design they spend many years. This design is not only for upper portion of watch. They also design watch’s internal parts such as a dial, crystal, alphabet on dial, dial’s hands, even small screws which connect one portion of watch with another portion.
Higher research and development cost
A lot of money is spent on research and development before Rolex being available on the market.
It has a unique research and development department. In their private lab, watch specialists and engineers research on new Rolex manufacturing techniques.
There is a stress test room to test how much adversity tolerable after the watch is made. Besides, an electron microscope and spectrometer installed room to test with metals and other elements.
Rolex is not only known for its luxurious and high-quality watches, but also for its cutting-edge manufacturing methods and techniques.
The brand’s experienced and trained scientists are constantly innovating new ways to improve the accuracy and performance of their timepieces. As a result, the in-house development costs associated with the craftsmanship and design of Rolex watches and movements is said to be very high. However, this investment ensures that each Rolex watch is built to last a lifetime.
As a result Rolex made the first waterproof watch, the first self-winding watch and so on.
Uses of 904L stainless steel
One of the things that make Rolex watches so special is the fact that the brand only uses high-quality materials. Other brands in market always use 316L stainless steel where Rolex uses 904L quality stainless steel.
As mentioned, 904L stainless steel is more expensive than other types of steel. This is because it takes extra work and special skills to manufacture. In addition, 904L stainless steel is also reportedly more difficult to work with. As a result, watch brands that favor this type of steel tend to be more expensive.
These steel resistance to corrosion and rust. So these watches are exquisite, tough, and long-lasting. This attention to detail is a major factor in the high price of Rolex watches.
The brand uses precious materials
If you are looking for a luxurious watch to add to your collection, then a Rolex should definitely be at the top of your list. Rolex gemologists and jewelers are highly skilled professionals who ensure that every precious stone is set perfectly in each watch. They undergo intense training to learn how to select diamonds and other stones of the highest quality. Also they take great care to hand-set each one into the watch with precision.
Rolex is one of the few watchmakers that produces timepieces made out of solid gold. Unlike other brands that use paint or gold plating, For their watches, Rolex takes extra care to refine 18K white, everose, and yellow gold. This attention to detail results in Rolex watches being some of the most beautiful and valuable timepieces in the world.
The movements are assembled by hand
Though robot is used to produce Rolex, but watch movements and bracelets are made by hand. As a result it is easier to produce a new and unique design.
Rolex can show exact time. Besides examined by unique Controle Officiel Suisse des Chronometres(COCS), Rolex also examine by themselves.
Company’s dedication to innovation is another reason to make Rolex so popular.
Investment in Mechanization
Though movements are designed by hand, Rolex has heavily invested in mechanization, mostly in the form of robots. These machines help with repetitive tasks like retrieving trays of parts and packaging finished watches, as well as more delicate work like polishing watches before they’re sent off for final assembly.
By automating these processes, Rolex is able to maintain its reputation for top-quality craftsmanship while keeping up with consumer demand.
Rolex watches can stand the test of time
When it comes to durability, Rolex is in a league of its own. The brand’s watches are designed to withstand any type of wear and tear, whether it’s exposure to extreme changes in humidity, movement, temperature, or altitude.
This reason have already discussed above, this for the use of premium Oystersteel and constant innovation of new technology.
When you buy a Rolex watch, you are investing in a timeless piece that can be passed down for generations.
Rolex watches are made with the highest quality materials and craftsmanship, which is why they are able to command such a high price tag.
Rolex watches have impressive water-resistance capacities
Rolex watches are known for their durability and water-resistance. Some models can withstand depths of up to 300 meters, thanks to rigorous testing during the manufacturing process.
For instance, Rolex’s Deepsea watches undergo pressure tests in high-pressure water tanks before being made available for purchase. These tanks are developed by the Compagnie Maritime d’Expertises (COMEX), a French diving company. COMEX has commissioned Rolex to create precise and high-performing dive watches that can withstand great depths.
Thanks to these tests, Rolex is able to produce some of the most durable and water-resistant watches on the market.
Advertisement cost
An important reason for Rolex being so expensive is its advertisement cost. They spend a lot of money behind the celebrities.
In 1927, Rolex first used Mercedes Gleitze who was the first English woman to swim the English channel. This Lady started swimming wrapping Rolex Oyster watch around his neck. Though the woman could not finish his swim but this event gave much publicity to Rolex.
After that a lot of celebrities like James Bond, Brand Pitt, Dalai Lama, Che Guevara, Fidel Castro, Mausetung used Rolex. To attract these celebrities Rolex have to spend a lot of money.
Lack of production
Rolex has played a significant role in raising prices. That was the deficit in production. For example, Rolex sea-dweller was not much popular. But due to lack of production people hurriedly bought all these watches.
All of these factors contribute to the high price tags of Rolex watches. However, despite their expensive price tags, Rolex watches are still a wise investment. This is because Rolex watches are built to last and will retain their value over time.
If you are looking for a luxurious watch to add to your collection, then a Rolex should definitely be at the top of your list.