Loading...Hans Wilsdorf and Alfred Davis could have not foresaw that the small scale business of importing Swiss movements they started in London, England could have grown into this multi-billion watch enterprise known as Rolex. The brand has long been synonymous with excellence and has been consistently associated with a pioneering and inventive spirit relating to the world of horology. Rolex designed and manufactured the first “certified chronometer”. They also introduce the first efficient waterproof and dustproof watch casing. Rolex also produced the first wristwatch with an automatic changing date including the perpetual watch.
Hans Wilsdorf at a young age and when he was older:
(Source: watchhabour.co.uk)
The “rule” of the generation of baby-boomers in the 1980s brought about a dramatic change in the reputation and popularity of Rolex watches. The new wealth enjoyed by these Young Urban Professionals (yuppies) led to the sale of anything and everything that is worth buying as indication of their affluence. Rolex was all part of the buying spree. In the early 1980s, a stainless Rolex DateJust was pegged at only US $900. Ten years later its price rose to US$2,350 even if the model basically remained the same. Prices of models in finer metals enjoyed greater increase. Today a low end Rolex DateJust is pegged at US$ 5,550, mid-range model at US$8750 and a high-end model fetches at US$10,500.
Over-rated? It depends. There are several myths that have been linked with Rolex and it is deemed best of these myths are dismissed.
Myth 1: Each Rolex watch is handmade – A great number of Rolex models are mass-produced by precise machines especially designed by Rolex. The watch company produces around one million watches per year. However, there are high-end models that are handcrafted by skilled watchmakers.
Myth 2: rolex watches are the most accurate timepieces – A cheap quartz watch could very well tell time more accurately than a Rolex. The steep price of a Rolex buys more jewelry feature rather than precise time.
Myth 3: A Rolex timepiece takes at least a year to make. This is a claim made by Rolex but it is purely for marketing purposes. Rolex aimed to conjure a throng of dedicated craftsmen laboriously working on Rolex watches.
Myth 4: A Rolex watch is a good investment as they have a good resale value- True they do sell at a higher percentage rate of their original price. However, this does not mean that Rolex holds this distinction. Moreover, watches, like cars, depreciate over time. Most fine wristwatches resell at 40% to 80% of their original price.
Myth 5: Rolex is the best brand of wristwatch in the world- Rolex is a very popular and quality brand but it is definitely not the best watch or the best investment or the only option one has in choosing a luxury brand wristwatch.
It is best to research; lay out options and requirements before deciding on which brand and type of watch to buy.
Guest Post by Anthony Charles content editor from watch harbour