First I want my readers to recognize my bias: I wear a Rolex, I sell Rolex, and I know a lot about Rolex. In short, I like Rolex.
Many people ask me, “Is Rolex worth the price you pay?“ Sometimes they ask it just like that, sometimes they come in saying you are buying the name and the product is overpriced for what you pay. As far as paying for the name goes, well of course you are!
What branded item out there do you think you are NOT paying for the name? Nike? Honda? Lululemon?
For any brand you purchase you must be aware that you are paying for the name and the money that brand has invested in telling you that you should purchase said brand (or “need” said brand). People buy brands in part because of the image it creates for themselves and the image it tells the world. Rolex is usually associated with terms like “achievement,” “prestige,” and “elegance.”
Rolex is expensive for many reason other than there name. Unlike many watch brands that exist today, Rolex manufactures everything in-house. They design there own movements, they make there own gold, they build everything themselves, and this requires enormous investment and research into tools and equipment.
Rolex uses only the highest grade…everything! The diamonds they use are the highest quality possible. The steel used in virtually every other luxury brand is 316L steel today, which is surgical grade. Rolex uses 904L, which is even better because of its resistance to corrosion and scratching. To make this steel requires extremely expensive equipment just to mold and form it, not to mention new polishing techniques and tools.
Rolex watches will retain value. I would never say “Rolex is a good investment” because like any consumer product it will depreciate as soon as you wear it out of the store. However, the watch will not depreciate to zero, like pretty much every electronic device in your house. Your Rolex watch will hold more value and last longer than any vehicle you may purchase, or any big screen TV you feel you need.
I could go on, explaining the obsession for perfection that is Rolex, but in the end you need to decide if it is worth it. After all, there watches start at $5000, with most of the more popular ones being closer to $10,000. I think the most important thing to remember about Rolex is that whichever one you decide on (if you decide on one), the piece will last you a lifetime if you want it to, and indeed, many get passed down to another generation. Can you think of any other consumer product that can boast the same claim?
