There are several reasons why you might be interested in buying a luxury wristwatch, and while shopping for one, you are bound to come across many Rolex wristwatches. While there is no doubt that Rolex is one of the most widely known luxury watch brands in the world today, many people still wonder, “Is Rolex a good watch?”
Rolex watches are hand-crafted, durable, and hold their value for years to come, making them one of the best luxury watch brands on the market.
However, recent shortages have made it quite difficult to buy a new Rolex through an Authorized Dealer.
The Rolex Company
The Rolex company is one of the most well-known brand names in the luxury watch market, but who are they? The now giant company started in 1905 as a small watch designer in London, England. They officially became “Rolex” in 1908 and moved to Switzerland in 1919. What started as two brothers-in-law importing watch parts and placing them in other cases has grown into a company that now makes all their watches.
Rolex has achieved remarkable success in the luxury watch market, and one of the reasons for this is its quality product and marketing. The company was good at spotting a problem in their design, fixing it, and marketing it in a way that set it above all others. For example, when it became clear that dust and grime were getting under the face of the watch and causing problems with the inner workings, the company created their waterproof Oyster, which they marketed by placing the watches in aquariums in the windows of their shop.
Over time, the name Rolex became synonymous with wealth and fame, and anybody who was anybody owned at least one of these luxury items. This further fueled the company’s success and cemented its popularity in the public eye.
What Makes Rolex Watches Good?
Although most people buy Rolex watches simply because they have become a symbol of wealth and power, those who understand more about watches know that there is much more to a Rolex.
It is common to see the words “stainless steel” printed on an item, but what most people are unaware of is that there are several types of stainless steel. While many companies use 316L, Rolex switched, and in 2003, they began using 904L steel. This type of steel is harder, more durable, and does not rust as easily as others. However, it is more expensive and much more difficult to work with, which is why Rolex is one of the few brands (perhaps the only one) in the world that use it.
Additionally, Rolex tests every single diamond that they use, and although the company has said that over the years, they have only spotted two fake diamonds, that is, two fake diamonds that did not make it onto any of their products.
Rolex also only uses real gold and never uses any type of “fake” gold. The gold that they use is all made in-house using materials such as 18k gold and 904L steel. You will never find a “gold plated” Rolex.
Although many people believe that Rolex watches are mass-produced, the actual truth is that it takes about a year for each watch to be manufactured. It all starts with the materials which are sourced and made in their in-house foundries. Then, each part is manufactured in-house. The watch is then assembled, and even with all their advanced technology, Rolex still applies all the hour markers by hand.
All gems are tested, hand-picked, and handset to ensure nothing but the best. Even after the watch is created, it must undergo rigorous quality testing. In short, even though the company could easily take shortcuts, there are many areas in which they refuse to, and this craftmanship is exactly what sets the company a step ahead of the rest.
Unlike a car, which starts to depreciate the moment you sign the lease agreement, a Rolex watch will hold its value. In fact, depending on the type of watch and where you buy it, you could sell your Rolex years later for the same amount that you bought it for. In some cases, the watch may even be worth more. There are very few other watch brands that could say the same about their product.
This point becomes even more important when you see the price tag on a new Rolex. Rolex watches can cost anywhere from a couple of thousand dollars to several million dollars, depending on the type of watch and who owned it. So, it is nice to know that if you are spending that type of money, you are making a wise investment.
The Downside of Rolex Watches?
There are many great reasons to consider buying a Rolex watch. However, you cannot make an informed decision without also looking at the downside of owning a Rolex. So, are there any reasons not to buy a Rolex?
Perhaps the number one thing turning customers away from the brand right now is the fact that it is almost impossible to get your hands on a new Rolex, and it is impossible to buy one through an Authorized dealer at the moment. This forces people to look elsewhere for their luxury watch, which increases the chance of being swindled. Many long-time Rolex customers have commented on how frustrating and insulting it is to see a company market a product that is not even available to their customers.
Another serious downside to buying a Rolex is the fact that the retail price is not the price that customers end up paying. Most of the time, what a customer pays is 2-3 times more than the retail price, which was already bordering an insane price.
There are those who have suggested that owning a Rolex makes you a target for criminals. However, this could be said of many things. Owning a nice car could just as easily alert criminals to your wealth. That being said, there have been many reports of people who were mugged while wearing a Rolex.
One of the biggest downfalls of being the most widely known luxury watch company on the market is that you become a target for counterfeits. In fact, there are more counterfeit Rolex watches in the world than there are real ones. Make sure that you know what to look for in a real Rolex before you buy one from anyone other than an Authorized Dealer.
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