Do you have any idea why are Rolex watches so expensive? Here is a great topic that we get frequently and see being addressed all over the internet. As a result, we decided to try to answer it in an article.
It’s no secret that luxury items are more expensive than non-luxury versions of the same kind of product. A t-pent, for example, might cost as little as 5 dollars or as much as 500 dollars.
Rolex, known as the “Crown of Celebrities,” is one of the most well-known luxury watch brands companies in the world. Not only was Rolex Kennedy’s precision jewels, but it was also an essential part of film history.
Rolex is a brand name that everyone is familiar with. It’s one of those brands that exude an undeniable sense of accomplishment. If you have a Rolex that you want to sell, now is the time to do so. Start by reading our primer on why Rolex watches are so pricey, and then figure out how much yours will cost.
Antique Rolexes frequently sell for over $1 million at auction, with the Rolex Daytona that Joanne Woodward gifted husband Paul Newman setting records when it sold for more than $18 million in 2018.
History of Rolex watch
He began to fantasize about a wristwatch. Wristwatches were not particularly precise at the time, but Hans Wilsdorf regarded them as having the potential to become stylish and dependable.
He paired his firmly unique watches with tiny, highly accurate movements produced by a Swiss watchmaking business in Bienne to persuade the public of their dependability.
Basic reasons why Rolex watches are so expensive
Rolex watch prices vary depending on the model and collection. Rolex wants to make its watches accessible to everyone, but the resources and materials used in the manufacturing process must also be considered. These are just a few of the variables that go into watch price.
The value of this Rolex Submariner 16610 watch was estimated to be between $85,000 and $130,000. Around $4,000 will get you a premium watch like the Rolex Oyster Date. Despite this, some high-end Rolex watches have starting prices comparable to the Rolex 16610 watch that was auctioned.
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Some major reasons why is Rolex watch so costly
First, watchmaking is a very exhausting and demanding job that costs a lot of money, as seen by the Rolex watches. Rolex has an in-house research and development department.
Furthermore, these specialists are highly competent and engage the most cutting-edge tools and technology. Not only that, but to remain ahead of the competition, they are constantly developing new production processes and procedures.
In addition, Rolex exclusively employs highly qualified and experienced scientists in its laboratories. This allows them to focus their study on different lubricants and oils for their equipment.
Rolex watches are also innovative in terms of design; as a mechanical designer, I understand what goes into creating something unique.
Small complicated parts that can be made to high tolerances endure the situations Rolex wants them to function in, yet appear visually attractive, demand a lot of time, development, and money, all of which must be factored into the final product pricing.
Rolex luxury watches have a unique, incomparable design that sets them apart from their competitors. One of the ways they achieve this is by using stainless steel of the 904L grade.
This steel is much brighter and more robust than the standard 316L steel used by other watchmakers, and such power and resistance aren’t cheap.
The 904L stainless steel was launched in 2003 and is also known as Corrosion-Resistant superalloy. Surprisingly, all of the machinery and tools used to make 904L stainless steel are spanking new.
This indicates that the steel is not produced using the same tools and machinery. They can also afford new equipment more readily than other watch manufacturers.
Even though Rolex engages many bots in its manufacturing process, the jobs done by bots are fundamental. Sorting, cataloging, and filing are examples of these tasks.
In reality, most watch mechanisms and bands are built by hand. To guarantee excellent quality, watches are often double-checked and verified by people before being sent to COSC for chronometer certification.
Stand the test of time
You won’t find a better watch than the Rolex if you want something that will endure any abuse. Any change in humidity, movement, heat, or altitude would be enough for other luxury watches.
Except for the Rolex the given reasons we’ve just covered in the preceding paragraphs, the answer is self-evident.
Rolex watches are known for their excellent water resistance. Some are even waterproof to a depth of 400 meters (e.g., Rolex Submariner watches).
Before being tested in the actual world, each Rolex diving watch is usually put through its paces in pressurized tanks. Meanwhile, to try Rolex Deepsea watches, Rolex usually uses a high-pressure water tank that has been specially re-developed by several firms.
Use of valuable metals
Rolex is supported by an army of gemmologists, just when you thought you’d heard everything. These are experts that specialize in evaluating and integrating precious metals like diamonds and gold into Rolex timepieces.
In addition, traditional jewelers assist the company in handpicking and setting diamonds and other valuable stones.
In addition, unlike other watchmakers, Rolex is perhaps the only one that makes gold watches. Instead of paint, actual, genuine gold was used!
This also explains why some Rolex gold versions are always included among the most expensive watches. Rolex admits that they purify 24-carat gold to 18 karats white, rose, or yellow gold for its timepieces.
Rolex is well-known for being the only watchmaker in the world that manufactures its gold. This helps to explain why certain gold watches appear on lists of the costliest watches. Rolex generally refines 22K gold into 18K yellow, white, or Eve rose gold for its looks.
Rolex watches are subjected to stringent quality monitoring. Every watch is meticulously checked and inspected for any faults.
The watches are also put through a series of tests to guarantee their durability and dependability. They’ve been drop-tested, COSC-tested, and temperature-tested, among other things.
Rolex watch holds its value
It even appreciates at times. Its collections have a consistent, recognizable look, and the company has never gone out of style or been involved in a scandal. Everybody, men and women, love them.
Rolex watches have a high resale value
Second-hand value is an intriguing topic to address when discussing why a Rolex is so costly. If you buy a watch from a brand like breathing fresh new, it’s like buying a car that loses a considerable amount of value the moment you walk out of the store.
With Rolex, if you buy a Rolex and walk out the door, your watch may or may not depreciate, and if it does, it’s only by a few percentage points.
Where is the best place to sell a Rolex watch?
While no jewelers will turn down a Rolex, not all are interested in giving you a good deal especially since they make money by selling your watch to a more specialized dealer or auctioning it.
As a result, the less they provide you, the more money they make. A trip to Hatton Garden, London’s jewelry area, may earn you a better deal, but anticipate a lot of bargaining once you are there.
These are readily available, but they do not guarantee a sale. Some platforms will host your article and take care of the description and photos (charging you for the privilege, of course).
Others, such as eBay, and Amazon allow you to do everything yourself. In any case, they will charge you a fee for listing your item and a portion of your profit.
At a typical auction house, your luck might go either way. Much depends on the other items up for sale and whether or not your watch captures a collector’s interest.
It’s also not quick. You’ll also have to pay the auction house a seller’s fee after you’ve been paid.
Conclusion – Why are Rolex Watches so Expensive
Rolex is preferred by people who want a sparkling luxury star on their wrist since its watches are authentic, attractive, and have the required precision.
However, making a Rolex is no simple task. Because the firm must assure the perfect quality of each watch, it takes roughly a year to produce a new line.
With all of this in mind, we hope that your perspective on Rolex pricing has broadened and that you can now appreciate the worth of a Rolex watch, as well as what the price tag indicates.
Instead of asking, “why Rolex watches are so expensive?” you could question why Rolex watches are so inexpensive now that you understand what goes into their creation.