Why Is Rolex SO Expensive?
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- Опубликовано: 16 авг 2022
- When asked to name a "luxury watch", most people think Rolex. So how did this super-popular watch brand, one that's been around since the early 1900's, manage to keep most of their business practices under wraps all these years??
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For further reading, check out the sources for this video here:
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Script: Caroline Eaton Pickard
Editor: Reid Valaitis
Project Manager: Lurana McClure Rodríguez
Host: Levi Hildebrand
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Rolex and other hand built watchmakers were "forced" to become luxury brands, the Japanese perfected the Quartz technology and they could produce much cheaper watches at scale. Swatch Group started buying up smaller watchmakers becoming large conglomerate and they started offering wide range of watches.
It was actually the digital watches that were the threat to mechanical watches, quartz watches were initially sold by all companies as a high end exoctic watches that didn't need winding and were more exact.
@@joes661
digital watches are quartz watches ...
@@amduser86 digital watches are the ones with the little LCD screen
@@joes661
i know, but those are still quartz watches and only the display is digital... (at least for the famous casio version)
@@joes661 you know that digital doesn’t necessarily mean quartz? “Digital” only refers to the way of displaying time using actual numbers (i.e. 9:27). “Quartz”, on the other hand, means the movement of the watch works with a quartz crystal and an electrical current (usually from batteries)
There are watches with digital displays and mechanical movements at the same time (i.e. A. Lange & Söhne Zeitwerk Minute Repeater).
And no, quartz watches were the reason most surviving Swiss watch brands made the switch from “tool-watches” to “luxury watches”. There’s a 4 part article about it on HODINKEE, written by Joe Thompson. He was there when things started to change. The article is called “Four Revolutions: A Concise History Of The Modern Watch World”.
I’d say a 4th reason exists. People who genuinely like watches, specifically automatic watches. There’s a decent sized community discussing mechanisms in watches and the quality of said watches.
Agree, me and my 216570 … love that SOB
But how do you know the quality without knowing a single thing about how the watch was made and what it is made with?
@@WouldntULikeToKnow. because you can open a watch, look at the mechanics, measure the precision and reliability by putting said watch to the test and see hoy it performs. You can check fit and finish, even checking microscopic details.
You can say whatever you want about how good something is, but if it doesn’t match up with the expectations set, then advertising means shit. If a diving watch that is said to withstand 300m of pressure floods in a swimming pool you can clearly see it’s bad quality.
@@diegoduran4152 Like, can you imagine a normal person buying a watch that doesn't have microscopes and a degree on watch reverse engineering complete with microscopic precision tools? Man, how could such a person even judge if a watch is worth it's price?
@@belldrop7365 what? Thats what hobbyists do. Thats kind of their thing. Normal people either have to go with the marketing material, or speak/listen to hobbyists.
Great video, but a few comments... it is worth mentioning that way before the world wars Cartier had created the Santos on a strap. Also, the 007 association is stronger with Omega (and how this came to be deserves its own episode). Finally, there is a chance that their biggest motivation for being a non profit is tax related, which is problematic, but not as much as using blood diamonds.
In the original books, or at least one of them, Bond wore a Rolex. I suspect that the association with Bond has saved Rolex from bankruptcy at least once back in the day.
@@markiangooley Bond definitely used Rolex, but he also wore Tag and Breitling. My belief is that Omega built a stronger connection to the brand.
@@viniciusacmauro Eh, it's more of a generational thing. I think most Millennials and Gen Z see Omega as the brand behind Bond, whereas anyone coming up before that would say that it's Rolex. It's a lot like Bond himself, everyone's "favorite" Bond is usually the one from their formative years.
@@eigerw Fair point, I’m sure older generations will associate Bond with Rolex. I still recommend looking into how Omega placed a massive bet (and Dollars) behind the partnership with 007, interesting story.
Anybody who knows Bond knows that the watch should be Rolex. The Omega deal is simply product placement, bought and paid for.
I’d give Rolex a little more credit, if not for their business ethics, for their products. You may not like gold and diamonds (I know I don’t) but each watch is built like an absolute tank and meant to last you a lifetime. My dad got his when he graduated college, 40 years ago, and he wears it everyday. He gets it serviced every few years and it keeps excellent time. Mechanically, Rolex has only improved. So, call me a fan boy, but I respect their enduring dedication to quality.
This is a good point! They definitely deserve some props for durability/quality, we're just hoping we can see some more transparency from them in the coming years 👍😄
Good point my husband and I both have Rolex’s and they will be the only watches we need. And are planning on handing them down to our kids.
You get bupkis with a Rolex though. The most popular model, the Datejust, isn't a dress watch, it's a tarted up tool watch that's chunky and primitive compared to what you could get with competing luxury watch brands. What Rolex has going for them is that merely rich people have no taste, and always gravitate towards the most ostentatious Veblen good they can identify. It's always a Rolex, it's always a Mercedes, it's always Burberry, etc etc.
plus, usually high quality products mean decent business practices
Rolex is run by a bunch of assholes who artificially restrict the supply. A lot of Rolex watches end up spending their time in a safe because they are owned by speculators that are scared of scratching them. I'd much rather buy a Grand Seiko for better finishing and craftsmanship.
I live in Geneva Switzerland and I can assure you that their watches do not take a year to be made. In fact, they take a week. Unless bispoken pieces.
But, this is information they don't want the public to know.
Another thing they don't want people to know is that 90% of their revenue comes from making parts for armies and weapon companies all over the world.
However, when it comes to sponsoring good causes they are very generous - I have worked with numerous organization where we rised money from them.
*Hope I won't be In trouble for revealing these information 😅
A few corrections:
-No watch is water proof, they are water resistant. Even at extreme depths they can still fail to the elements
-Their watches weren't always in-house, for example their Daytona was using the movement developed by Zenith (which they originally used for the El Primero range, the watch is still being made and you can walk into an AD and actually buy it unlike the Rolex Daytona lol)
-Authorized Dealers are not always out of stock, they just refuse to sell their models to ordinary customers, people who have a purchase history and/or connection to said dealers always skip the line, it is also alleged that some sales reps at ADs will buy them and sell them on the gray market, but yes there is a waitlist and oftentimes customers on said waitlist may not even get the model they actually want
Technically, a watch that is water resistant to 100 meters or more is called water proof. Only two companies in the world can say all their watches are water proof.
@@erickdabandan76 depends to be honest
Waterproofness is defined by it's conditions. That is why there is a rating. By your logic, literally nothing is waterproof
Aren't sinn watches like waterproof to the bottom of the ocean?
@@FluffPuffkotj they're rugged and water resistant, but they can still fail
Funny story or not. At 2:57 when you state that a pocket watch isn’t efficient in battle, I have a story about one actually saving a life in battle. My great great grandfather in World War One was shot in France in the chest… However, he had a pocket watch in his shirt pocket which saved his life and stopped the bullet. We still have the pocket watch to this very day!
A Rolex watch is a timeless (pun intended) piece of art. This video could have definitely done more to discuss their impact on the industry, in a similar fashion to previous videos about Herman Miller. These timepieces are heirlooms that have stood the test of time, the exact opposite of fast fashion. Definitely think Rolex deserve more credit. It is unfortunate how the Authorised Dealer market has created this scarcity, but I don't think Rolex are entirely to blame. Watchmaking is a dying artform and they don't want to sacrifice quality craftsmanship to simply produce more units. Rolex only hire the best of the best watchmakers, and refuse to cut any corners.
Are you talking about Patek Philippe? As far as I know, Rolex components are machine made and assembled.
@@phoenix5054 there are literally videos showing machine made components for Patek.
They're overhyped jewelry. They're obsolete as timepieces, and have been since the 1970s.
Or if you want a watch get a Casio or a Timex or a Seiko / Orient, a Swatch or maybe a Dan Henry. Watches are definitely useful, you can get them for much less and they're very fun to collect! I'd recommend the companies above.
Yeah so few things are built to last like watches anymore, and you can get plenty of quality for way less from those brands! I'd also throw in Citizen and Tissot depending on the budget and interests.
Oh for sure! I don't have much experience with Citizen but I've heard a ton of great things from Tissot too! I couldn't agree more, it's a real shame that things aren't built to last anymore, I pray we go back to that one day @@speedracer2please
Rolex basically gave the playbook to all the big tech firms today.
They made compelling products, put it on hands of famous people of the time, market the hell out of it.
And by slowly acquiring their suppliers and vendors.
Awesome video! I’d love to see one on Casio one day if we are sticking with watch theme. Or how Casio does watches, calculators, musical instruments, etc.
That's a great idea, thanks for the suggestion Tony!
AS someone who wears a Casio solar powered dive watch and is looking to buy a G-shock solar dive one from Casio as well they are making quartz kewl.
Great video and story telling! Enjoying the messages the channel promotes but the last 10 seconds kinda felt wrong. Yes a Rolex is expensive and brings some
Attention when worn but, it’ll outlast my phone in my pocket.
Their designs hardly change which means you can wear a watch for 50 yrs and look the same as the modern one. The robust movements inside these watches gives them the ability to be worn for multiple generations with proper servicing.
Honesty I’d say Rolex Watches, and many other “luxury” watches warrant the price and are Future Proof
yeah, but so are most watches to be honest. A decent quartz watch is more accurate, much cheaper, and likely more durable because there is simply less that can go wrong with it. Mechanical watches are a hobby or investment. Not a tool.
@@huntergibson9359a decent quartz watch won’t last 5 years.
Yeah Rolex is a little more expensive than just the quality, but there are definitely other affordable watches if you only want it to be Future Proof
tbf, the phone in the pocket is virtually like the watch on the chain thing back then. I guess smart watches are the thing you want if you really want a watch.
Totally, we're wondering if a video on smart watches might be interesting... 👀
Garmin, Suunto and Casio are now some of the chosen brands for adventurers and military people.
It’s crazy that we’ve been manipulated to believe that Things are more valuable than relationships and health and basic needs.
I despise “luxury” goods for how they skew people’s priorities and spoil the human experience.
But without luxury goods how am I going to show people that I am better than them?
(Sarcasm, of course)
There are so many cool and underrated brands out there. Watch enthusiasts (myself included) need to show them more love.
Artificial scarcity is one strategy they use to drive up demand for their watches. You also touched on an interesting point, yes, you can walk into a Rolex store with $20k in your pocket and you’ll walk out with nothing. But, the Rolex watch market gets worse than that, certified Rolex dealers ask potential buyers to buy other jewelry in exchange for a spot of said waiting list.
That is true, but it raises a question: why would Rolex want to artificially generate scarcity since none of the money made by the price inflared transactions is going to them? They only get what is on the tag, meaning that the only ones making extra money over Rolex are the flippers.
@@viniciusacmauro My comment was not aimed at people who buy with the intention to resell. I am specifically talking about certified dealers and in response to your posed question, I think it's because they want demand for their product. It's the same reason any other company does it. If demand is present in the market people are more likely to buy given the opportunity. Take for example, Nike's hype shoes or Nintendo when it launches a new video game console. Everyone wants one because they can't get one. If it were readily available you'd probably hold off because you know you can get one.
@@garciatony Oh, I agree that there is benefit in their products being hard to get. What doesn't make sense to me is that the whole retail structure harms the luxury proposal of the brand... having to negotiate with the ADs to get in line or trying to find a watch online for a much higher price is far from the experience one expects from the brand.
Same with birkin bags
@Mark Smith It's not strange at all. If you do business with a reseller or a distributor, oftentimes you want to order a small batch of something just to see how they treat you, and vice versa. If everything's fine, the bills are paid on time, and the customer service is satisfactory, you can then start buying more stuff in bulk. And on the distributor's side acquiring another reliable customer is important for cash flow purposes, so they are interested in getting you the lowest possible price from the manufacturer, and providing perks to you in exchange for you continuing to source something from them regularly. This may mean providing you with special services or getting you something rare that you want but can't otherwise find, through their connections with different manufacturers and other distributors. Sometimes this also involves graft, corruption, and lobbying, but sometimes you just want to have a decent human relationship with someone on whom your business depends and vice versa.
A Rolex is almost like a business investment considering that you are probably going to wear it to meetings a lot and it will improve your appearance to other rich people, investors, and shareholders, so basically the jewelry stores will treat you like they provide stuff for your business. If they don't know you, you can't just show up and order the most expensive s**t they have. What if you're bluffing and you won't be able to pay on time? Should the jeweler wait for you for no reason, or sell the watch to someone next in line and make money, potentially provoking a conflict with you? Having you buy something first to prove that you're an actual paying customer makes all kinds of sense.
Rolex and James Bond is not a marketing ploy.
Ian Fleming, the author of James Bond, a spy himself, an owner of a Rolex, wrote the novels of Bond wearing a Rolex Explorer I. It was during filming that they used a Rolex submariner belonging to either Connery or Albert R Broccoli.
I'm sure they don't mind the repeat ads for their watch in the movies.
Product placement is still a marketing ploy...even if the author was already influenced by the extreme athlete marketing. I promise you he wasn't doing the outlandish things he had James bond doing in his books.
@@no.9516 dont think anyone was actually doing the outlandish things James Bond does, real espionage, I would imagine, is quiet, subtle, blend into crowd.
don't think you know who is Ian Fleming, read his wikipedia to see what he did during the war before making such ignorant statements.
@@howcanimiss I don't have to imagine espionage, it's literally what I do for a living lol Ian Fleming kinda comes up from time to time as do James bond and Chris Kyle wannabes , thanks for suggesting wikipedia though lmao.
Regardless of what he wore in real life you do what you need to to fit the bill and rolex's reputation then and now are notably different. So is Rolex selling an image now ? Definitely. No one is in Syria trying to "blend in "with a Rolex on lol
Amazing video as always! Are there any plans on covering Nike and their “move to zero” movement ?
Y’all are really churning out some good content. I like it!!
Thanks so much, Rachael! There's more where that came from 😅🤘
2:09 Who woke up the knocker-uppers to do their job? Was it knocker-uppers all the way down?
Antiques Roadshow had a Rolex Submariner that was several decades old, had all the original packaging and the invoice. It was factory refurbished, but the owner was smart enough to not replace the face (or the bezel, I can’t recall, but replacing either would have replaced the original face either way) as the entire value in that particular watch was the unique and rare face, that would have been replaced with a more standard version. Can’t remember the valuation, but it was a HUGE number.
Great video!🤘🏼
Love the Malfoy example. Great video!
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nice vids as always
Thanks so much!! 🌞
Fun fact: the original wrist watch was created by Abraham-Louis Breguet for the then Queen of Naples, Caroline Murat in 1775.
These videos always make me learn something new!
Never been this early. I just wanna say I keep showing your videos to guys in my marketing classes when they ask me where I get my case studies from. Amazing work as always
Woah, that's awesome! Thanks for being a part of the team 🤘
Good video for watch neophytes. Just a few points. Hans Wilsdorf was born in Germany. He was an anglophile and therefore moved his watch making business to London, England. So Rolex is originally an English Brand but Hans German. He saw potential in the English market as watches had become too expensive (a bit of irony there). He moved to Geneva as WWI broke out. His foundation was created as he did not have any children to carry out his legacy. As the beginning the foundation was set-up to invest in social initiatives in Geneva and also to invest in watchmaking schools to continue the proud Swiss tradition of fine watch making. They still carry out this social aspect especially in the canton of Geneva. As to why prices as always they are driven up by investors who are speculating about the prices of watches thus driving the market up. As they know the demand is high and production low. Well low….in 2016 COSC issued numbers of watches they certified for Rolex and it was approximately 1 million….since then Rolex have kindly ask them to stop publishing. So mystery there too. The high demand especially came with COVID, people didn’t travel or go out due to the restrictions and therefore bought luxury watches (no just Rolex) thinking that they would hold their price. The rest is history. Watch enthusiast love Rolex as they are built like tanks and you and models on so every slightly change therefore being “timeless”. A great piece to hand down to your son or daughter….Fun Fact I heard a rumor that there was more gold in the Rolex building then Fortnox! Another thing that people don’t know is their actual stock. Nobody can go into the stock room of parts except a few selected people but should a watchmaker need parts they request it and it is fetched by a robot. Very high tech stuff.
They are also just really nice watches man. Some of us just like neat little ticking things, and rolex has a certain elegance and grace in some models that no other watchmaker has been able to achieve.
My favorite Rolex fact is that they used lubed gaskets that are pressed together and screwed down and lubed in order to achieve dive level water resistance. Vostok used a single flat gasket and an external ring
My two favorite things to watch on RUclips, combined. Watches and Levi's videos. Yet another great vid, thanks!
Haha thanks for tuning in!!
awesome video as always
Thanks for being a part of the team !! 😀
As a watch enthusiast and collector myself, there are so many manufacturers I'd rather throw my money to. Rolex watches are fine works of art that stand the test of time, sure, but so many other brands do the same thing for far less money, not to mention the absurd maintenance cost to keep a Rolex alive. Additionally, other companies are extremely transparent on their manufacturing process. It's very easy to find out if you're getting what you pay for, unless you're buying a Rolex.
Agree as Rolex doesn't want to innovate any more and keep pumping the same watch every year
Hello! Can you review Cotopaxi? I'm curious about it's ethics and sustainability, and Future Proof is my go-to when I'm thinking about making a new (to me) gear purchase. Thank you!
Davis Smith at Cotopaxi is just another rich guy like Yvon Chouinard at Patagonia sheltering their private benefit companies under the facade of non-profit for tax exemption. 1% of their revenue goes into their facade foundation, to show they are doing some charitable good so they don't have to pay taxes and can whine about stuff while they sit on loads of cash.
Wait....rolex is made with non-fair trade plastic straws?!
Cats out of the bag 🤣
Great video!
Do a video on how Ferrari chooses its customers and how they make sue celebs and charities alike.
Thank you, and thanks for the suggestion! We're definitely delving into the automotive industry a bit in future videos 😜
@@FutureProofTV Looking forward to it! :)
As watch geek i must say there are some key points that you got sadly wrong... and it kinda undermines entire sense of this vid.
Rolex is nice, but I've always been an Omega man. They're good enough for astronauts so that's good enough for me. Would love to see a video on them next!
that's just marketing. plenty of rolexes and other watches have been to space.
@@hanwagu9967 True, but Omega went all in with Project Alaska.
@@LieutenantLysol don't know what you mean by all in with the Alaska Project (not Project Alaska). It was entirely Omega unsolicited marketing with NASA.
@@hanwagu9967 Either way you still got the point. Four companies sent proposals, only Omega passed the tests according to James H. Ragan, former NASA aerospace engineer. But I'm not here to argue, let's just agree watches are neat. Have a good day!
The fourth reason for buying a Rolex could be the one of a true watches fan. An authentic watches lover gets a watch for personal joy and for what a watch represents for him/her
About the "use your phone" comment at the end: You should make a video discussing a watch manufacturer, the future proof team finds ethical and sustainable. Just to offer an alternative for conscientious watch buyer.
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"If you need to know what time it is just use the phone in your pocket" Couldn't agree more.
Well, I'll personally wear my watch and leave my phone at home... And my phone can't handle surfing or free diving.
Needing to know the time is not the main point of mechanical watches these days. It’s about craftsmanship and wearing jewelry that also happens to be an amazing miniature machine. It’s a hobby that a lot of people are into similar to other expensive hobbies.
The Hans Wilsdorf Foundation actually makes some really nice charity event and contributes a lot to preservation of historical place in Switzerland and elsewhere. I have the impression that right now they should be making more money from the housing market than watches itself.
1:48 Yes they were accurate. Maybe not the cheapest stuff but railroad grade watches still have respectable specs even today. So maybe not a tiny ladies watch but they definitely had good watches should someone want to spend a few months salary.
Great video. I love the history lesson.
So glad you enjoyed it! Stay tuned for the next one 😜
@12:50 had me dead LMAO
Great video
You are my lucky⬆️⬆️winner today ..
People that can afford watches and appreciate movements wouldn't be caught dead wearing a Rolex. They're expensive because it says Rolex on it.
They recently acquired one of the largest retailers too!
Casio is the most respected watch brand, especially by watch fans.
I’m swiss, I know several people working for Rolex.. and I wear a solar G-Shock for 7 years know.
The Rolex company is considered a very good one to work for tough.
FP often says repeated misconceptions but saying pocket watches werent accurate is something Ive never heard of and completely not true.
One question, what motorsport have vehicles traveling 300 or more miles an hour?
Also, while your first two reasons for why someone would buy a Rolex is correct, your third really isn't. People don't purchase this watch just because they want a watch, like any luxury product, a cheaper version could be purchased in place of it. There is a massive amount of people who purchase this product for the craftsmanship and durability. It's the reason that watches built 70 years ago are still running today, powered by a spring and not a battery.
Lastly, I'm surprised you said use your phone for time, while practical, the production of a phone goes completely against, what I believe, is the main point of all your videos. Phones aren't futureproof, but watches are. Plus phones are extremely bad for the environment, whereas a watch is less so. Also, saying to use your phone to tell the time is like telling someone to use a grocery bag to carry your stuff instead of a purse or a briefcase.
Typically, I like your videos, very informative, but this topic, you don't really know very much about.
Funny car and top fuel drag cars approach/exceed 300mph in the 1/4-mile. The 300mph mentioned in this video was a land speed car...the types of cars that race on the Bonneville salt flats with the sole purpose of reaching the highest speed possible. The current land speed record is over 760mph in a jet-powered car.
@@cdsmock4512 that's what I was thinking was the only vehicles that top that speed. Well, land speed records. Drag races are definitely races, so that does count.
Not to mention using phone for time telling is like using your pocket watch for time telling. Which became evident 100 years ago is not so convenient. And now modern phones are like 3-4 times bigger than those nice little pocket watches back then. But suddenly people like watches became dumb not using their phone for that - like everyone else...
Except they're NOT future proof, mechanical watches are obsolete as anything but jewelry. A $20 Timex is a better watch.
And the durability is a lie too, that $20 Timex will run for decades, all you have to do is change the battery. The crappy Rolex needs to be serviced every 5 years, and it's still not going to come close to the Timex for accuracy.
You can’t connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to trust in something - your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life. --Steve Jobs;';'
I really like typing on my new mechanical keyboard. I have nothing of note to add, just wanted to type something. Good video though. Thumbs up
👍
Also to be able to stay unique in the market secresy helps!
Waste of money for most people. In the city it makes you a target for getting robbed. You can get a better watch for way less money these days.
"Use the phone in your pocket like everyone else" hoooooly shit, it's like we've come back full circle to the old pocket watches!! haha, brilliant ending.
I knew a guy who always wanted a Rolex he saved up and bought himself one on his birthday, 3 weeks later a gang was waiting for him outside his house when he went home from work and persuaded him at knife point to hand it over, that kind of put a dampener on the whole idea and he sweared he would never buy a expensive watch ever again.
Can you do casio / g shock watches.
You are my lucky⬆️⬆️winner today .
Maybe a fun fact: I think the watch face material shown as you’re explaining the materials from which Rolexes are made is meteorite, for those seeking something of a final frontier in watch material.
Woah, that's pretty cool, thanks for the info!
Well put together video and I can see a lot of research and effort went into this, however there is quite a few inaccuracies that I picked up on. I'm not going to slander you in the comments about it, but if you would like to have a chat about it I would love to help you learn more!
What’s cool is that I just inherited a Rolex watch from my grandpa which is a Rolex Daytona 6239 which is probably worth about almost $70,000 if not more or a little less than that I’m not sure, but I have no interest in selling it unless I need it
cap 🧢
I didn’t know a watch on a chain was a status symbol 🤔 I’ve seen old photos with men wearing them.
There are so many watch content creators telling you that Rolex is overpriced and they will give you a cheaper version that works as well, or better. I owned a fake Rolex or two when I was younger. With the possible exception of Patek, the feeling of earning enough money through your own efforts to buy your first Rolex is a day you will never forget, like the birth of your first child. It is not necessarily to look rich. In those days Rolex gave you a free leather briefcase and golf balls with Rolex on them as well. Buying a second and third Rolex is nice, but not the same.
It's not just overpriced, it's obsolete. A $20 Timex is a better watch, it's FAR more accurate than any mechanical watch.
"Easy to pronounce in any language". At that time their whole world was pretty much the EU and maybe the US, so I can understand why they would claim that. But in Japanese it would become "Rorekusu" which somewhat resembles "Rolex" I guess xD
"If you need to know what time it is, just use your phone in your pocket like everybody else"... Well, having worn the same watch for 27 years and using a 16 year old dumbphone I keep off at least 90% of the time, I guess i'm too old myself for today's sustainability advices🦖😂
To add something a little constructive... My great-grandfather was a watchmaker on the French border with Switzerland. Historically many farmers made clocks and watches during the long winter months when there was less farm work to do. Some, probably more gifted than others, became full-time watchmakers and developed the activity. I suppose it was the same on the Swiss side, and the region being famous for that, it is perhaps one of the reasons why Rolex settled here rather than staying in England.
You can send your Rolex watch 30 - 40 years from now and they will repair it. Some still even work longer than that from vintage collectors. So compared to a lot of products, Rolex watches maintain value, will still work, and are durable. Hence why I purchased a few of them as heirloom gifts for my small nephews. If they can take care of it, it will be there for more than their lifetime. Not a lot products can say that.
And a $20 Timex won't need repair 30 - 40 years from now, it'll just need a new battery. It's a far higher quality watch than any mechanical watch could ever hope to be. A Rolex is expensive jewelry, not a timepiece.
@@jonc4403 clearly haven’t seen the mechanics inside mechanical watches and the workmanship required to run them instead of - time to look up A Lange, Patek, JLC, Breguet, etc. while those improve on certain functionality like tracking moon cycles, alleviating the effects of gravity in time keeping accuracy, Rolex movements are durable. You might need to change that quartz battery every 2 years while Rolex movement might not need adjustments until 10 years at least. So no it’s not just jewelry. It’s engineering
Swiss Foundation Law governs how these organizations work. Many businesses in Switzerland are organized as Foundations under Swiss law. It’s just a different business model. Like most privately-held organizations, they do not publicly release a lot of financial and operational details. Swiss Foundations are accountable to the Swiss government and are regularly audited for compliance.
It's a tax dodge.
Non-profit corporations are exempt from corporation tax!
I had learnt this decades ago, while still a kid, but googled it to see if I was right and surely enough I was.
Don’t forget about Tudor: their sister brand. They’ve been getting more credit lately.
Rolex produces close to 1 million watches a year. It doesn’t take 1 year to make a single watch at Rolex. While beautifully produced, Rolex watches are mass produced. Some of their most desirable pieces, like steel sports models, can’t keep with with the demand.
Whole fascination bt mehanical time pices was totally skiped but it was fun video.
This guy's style changes all the time [I like your newer haircut better, but that's a me problem] but his voice never changes and that's good enough reason to subscribe to the channel
I would imagine that given their very low production volumes, we could probably more reasonably assume that their raw material procurement practices would be far more sustainable and equitable than your average mass market producer.
"They aren't bringing their business practices to show and tell just like the cartel" 😂, that was a throwaway joke but so very true. I'm pretty sure almost every luxury brand has some skeletons in their closet.
Yeah Rolex supply's some watches for Germans in ww2
As a sprinter I found watching time on a phone highly disadvantageous
I love my Invicta Pro Divers it's a thousand times less at 85 USD looks and functions almost exactly like a Rolex.
Or, stay with me, you could wear a non rolex wristwatch. They do exist, there even exist wristwatches and jewellery without diamonds. I wear non rolex watches all the time, they're great when I'm running to the bus stop, instead of trying to dig my phone out of my bag or pocket whilst running in a hurry, just to check what time it is.
James Bond wears Omega watches, not Rolex watches.
Super interesting, so why doesn't every company register as non-profit?
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One company that is not Secretive is future proof
💪💪💪
This is awesome 6:05
That's a Bulova Precisionist in 8'20
Next casio gshock. Go from one of the expensive one to one of cheap one.
There is no way cars from 1920 did 300mph. I doubt they did 300kph or 186mph let alone 300mph. The fastest modern car does 270mph top speed and it lasts for like 5mins before the gas tank is empty.
I respect Rolex for the ground they've broken over the past hundred years, but I'm not really into them at all. Maybe a little bit. If I'm ever to buy one, I don't want the story to be "well I saved up the money and waited four years for a dealer to call me back." Boring!
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I've seen Rolex, and their styling is just ok. Or perhaps the ones I've seen. Anyone that buys one for themselves or as a gift for others im happy for. But just like with IPhone & Tesla I'm not too impressed 😒. Although not as expensive. I like wearing my Bulova's 😁
Bulova has a quite Rich watch history being older than some Swiss watch makers
Can you do a vidoe on Chrome Hearts?
if its about watches, can we get one on casio and g shock, they are legendary
We'll definitely consider it for a future upload, thanks so much!
looking for like new rolex under 4-5K.
Kinda confused by the conclusion.
The company might be shady, and its impossible to trace how it sources its materials. But just by the fact these watches last forever and keep their value over time, you could argue its future proof (though we could do without all the bling).
Nothing humans do is impact-less, and I think sometimes the pros can outweigh the cons. Like how driving electric is clearly still a terrible thing for the earth, but also obviously the better option.
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If you have a non profit, they aren't allowed to know anything about your financial, so you could be turning a profit?
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The last comment about checking the time on your phone just reminded me of the beginning of the video, when you mentioned the hand-held time pieces. It's the same thing, except for the chain.
That said, if I ever wanted to spend thousands on a watch and risk getting assaulted and robbed for it, I wouldn't choose a Rolex. Never ever.
They are chunky and in most of the cases, quite ugly. The ugliest of them all are the steel/gold mix. Nouveaux riches stuff.
Yeah we don't find them all that attractive either to be honest, lots of other options out there that are more appealing and less... Gaudy?? ¯\_(ツ)_/¯
I'd actually argue that Rolex watches are some of the least offensive 6-figure watches. A lot of their models are smaller sizes (i.e. 36MM) which sit quite discretely on your wrist.
@@raducristiandan9103 completely agree. Oyster Perpetuals are quite simple. Almost too simple. Change the bracelet for a strap and it’s really low key (except for the rainbow dial, which I find horrible).
@@FutureProofTV Gaudy is reserved for Hublot tho. Haha
Tldr; just marketing
Marketing is surely the reason Rolex has the brand recognition it does, but that's not entirely true. Mechanical watches requires a very high degree of manufacturing precision and adjustments made to the balance wheel by a watchmaker to reach chronometer standards. Rolex advertises that it's watches run -2 to +2 seconds a day and are known to be some of the most reliable watches around.
If you dive into the watch space, it's actually very impressive that Rolex can make around 1,000,000 watches a year to such a high standard. There's other watches that are finished more intricately, but that doesn't have an impact to how it functions. Those watches are also produced in even fewer quantities than Rolex.
@@jz4461 still just marketing. If you want accuracy buy a good Quartz watch and if you want something mechanically interesting buy a Jaeger-Lecoultre.
@@Coconut7403 I agree, there's many more interesting watches out there than Rolex. I can't accept sitting on a multi year waitlist when I can walk in and get a watch from JLC, Grand Seiko, A Lange & Sohne, and others that interest me more. I find Rolex designs to be usually uninspired.
You clearly have a base knowledge about watches. But I made my comment because the video left a lot out about just what goes into making any mechanical watch. There's a lit about Rolex that we don't know, but we also know a lot about what goes into a mechanical watch.
everything you buy is a function of just marketing.
You didn't find any positive? In the fact their limited availability is pretty much the opposite of consumerism?
I think a Rolex is typically a better value watch that its comparably priced peers. Partly this is the materials used but also the (alleged) percentage of a Rolex that has been made in house. So not just the case, movement and so on but also (allegedly) the individual components that go into the movement. Other Swiss watchmakers typically do enough to be able to legally call their products Swiss (I forget the percentages involved). I think this partly explains why the market values a Rolex somewhat more highly than Rolex's official pricing. This might change given the dire state of the Chinese economy (which changes everything else).
Rolex watches are overrated mass produced pieces. Brands like Patek Phillipe actually show off their craftsmanship in their pieces.
On the topic of watches, could you do a video on Tissot next?
Today? Baah, just like luxury cars --- shallow pursuits for shallow people, and as "rich pedestrian" as it gets. Being a wealthy person while wearing something "inappropriate" (even "cheap") would speak volumes more.
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Who woke up the knocker uppers?
The real question is, who was in charge of waking up the knocker-uppers?