Well they are purely mechanical, no quartz so it will never be as small as a Timex.
I have no issue with it being bigger, it has to be.
However as this guy pointed out he bought his for $350 in 1971.
$350 in 1971 dollars adjusted for inflation is $2,220 in todays dollars.
So, for the cheapest Rolex today being 17k or something like that, just doesn’t add up.. so its purely charging buyers money simply for its name, not for its product or quality. Purely a status symbol
I wonder how long it took the Veteran to save up the money. Also, don’t you get a discount through the PX?
I’ve got at Timex that old. Use it daily. Works great.
There are plenty of other mechanical watch makers that aren’t as in demand as Rolex where you can get similar quality for a lot less price. The downside is those watches may or may not turn out to be as collectible as a Rolex in a few decades. The Rolexes are a pretty sure investment though.
So, for the cheapest Rolex today being 17k or something like that, just doesn’t add up.. so its purely charging buyers money simply for its name, not for its product or quality. Purely a status symbol
Yes and no. You can get into the low end of Rolexes for less than $17k. I think the floor is about $8k these days. You are paying a premium for it having that 'Rolex' on the dial, but there are actually legitimate reasons for some of that. The main thing, is that the brand's worldwide penetration in its marketing, and the perception of the quality of the brand means that if one is traveling overseas and is wearing a Rolex, or has one in his possession, he will pretty much have the means to return home if things go severely sideways with him, because a Rolex is essentially as good as cash just about anywhere on the planet.
There are better watches. Among folk who are really into watches, Rolex is considered the 'low end' of the luxury watch market for most of their product line (exceptions exist of course). For myself, I actually prefer certain Omega designs for design, accuracy, and functionality. I'd kill for a nice Patek Phillipe perpetual, but since those would typically be a larger investment than my house, I'm unlikely to ever have the opportunity to own one.
In brief, a Rolex is expensive, and you're paying a mark-up for the brand, but they are recognized globally for their value, and maintain that value better than most other watches.
“Purely a status symbol”
You are correct, but I am certainly glad that there are overpaid dummies out there who will buy a watch just for “Status”.
Without them, there would be no Rolex, at all. I trust your figure of the current value of the 1971 dollar figure and point out that Rolex would not exist selling watches at this price. When this fellow bought his watch, almost all were mechanical and there was great competition. Some were even made in the US.
So, Rolex has devolved into a very small “Status” product, but it still exists in an age of cheap, Chinese-made junk which Americans would prefer to buy. It would be hard to find a watch of its quality at any price.
As this chap found out, it usually holds its value, and then some, so there are worse things to put your money in.
Let me also say that Rolex, compared to other expensive “Status” watches, was always trying to be a useful, functional watch. This guy’s was a chronograph, and those were still being used by pilots and auto racers as personal precision timing instruments. The Submariner is not bothered by water in the least, and Rolex had another version that deep-sea oil drillers were using at incredible depths.
Today, its all about the “Bling”, of course, but I am glad that the watch is still there for the quality that is in it.
Sorry I wrote so much, but I have enjoyed Rolex for several decades and never for its status. I find that there are few occasions where I even want it seen.