Quote:
Originally Posted by mansion
Gentlemen,
What percentage of Rolex owners or potential buyers are connoisseurs? How many would recognise a nice movement? How many appreciate the gold-plated hour-compensating spatula lock widget?
Very few. I know - I'm one of the guys who bought a Rolex because of the name. Until I started looking, I had no idea what a bezel was. Or the number of the movement, or the model numbers, or how to set the date on a GMT.
I suspect Rolex has a very big market in people in want to own a flash watch, and who will go for Rolex because of its reputation.
So long as the 'name' stands up, they'll continue to do fine.
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To many non WIS types the brand Rolex now have such a powerful brand image. That your average guy on the street now by the fantastic pure marketing power over the years by Rolex. Believes they are the best watches in the world,and invented everything in the watch world today.It really is as simple as that,now some a bit more educated in the watch world, may know the real facts and this is not totally true.
Now if you were to take let's say 100 non WIS people at random from the street and show them a £4,000 Rolex and say a £35,000 Patek Philip or many other high end brands. I would say that 90- 95% would choose the Rolex watch over the Patek/other brand. Simply because of the brand awareness and the fact that the word "Rolex" is always linked to luxury,and quality through the amazingly shrewd and clever marketing though the years.Old Hans was quite a remarkable man,he seized every new watch idea, or patent available to call his own,and any new movement design,to make his watches a better product.And the old saying with Rolex today if it ain't broke why fix it.Design all in all has not changed much in 40 years,sure a few very minor cosmetic,and slight movement changes,but very little else.
Now in the early years Rolex,seized every sporting or expedition venture to sponsor and get his watches into the public limelight.You could say that Hans was one of the first to see the real power of advertising.And having a good product with very clever marketing thats what has made Rolex into the most recognised watch brand today.But as much as I respect the brand but mainly now for the history of the Rolex company and a very fine product.After being around watches for well over 30 years,and my first real fascination with a Lucerne mechanical watch.But now I can respect all the many brands in todays watch world.Right from Rolex to Patek to Seiko to Alpha they all have there place in this crazy horological world.
So now IMHO Rolex is now becoming a "victim" of its own success.And in danger of becoming the Timex of past days.There are now millions upon millions of them in the world today.So if you are into the Prestige of a once pretty exclusive watch afraid now its slightly lacking, its perhaps now, because they are quite expensive.Rolex have a great history, but so do many other brands out there today.Rolex they are, without doubt, the largest independent Swiss watchmaker. Producing around 850,000 plus watches a year, and they sell every watch they make. They are dependent on no single market today,unlike years ago, you could really say that the world is their Rolex Oyster.