Saturday, November 28, 2015

Money, Money, Money - Why Are Rolexes So Expensive?

There isn’t a watch aficionado or a collector in the world that doesn’t know of Rolex. These revolutionary Swiss made timepieces are so highly revered that they have unequivocally been considered the epitome of unmatched luxury and sophistication since they entered the market.
Simply put, if you gather a team of all the luxury watchmakers in the world with unlimited funds to come up with a worthy adversary for a Rolex, it would still be impossible. Because Rolex belongs in a class of its own. Have a look at the Rolex Watches lineup on Ethos Watch Boutiques and you will realize the grandeur they come with.
Rolex manufactures timepieces in four ultra-modern production facilities. But, do you know what makes Rolexes the most expensive watches on Earth? Read on to find out.
1.    Rolex Uses A Rare, Expensive Steel
Steels, particularly those used in watches, come in different varieties, types, and grades. If you’ve researched watchmaking well enough, you will also know that almost all of the luxury watches are made using 316L stainless steel because it, albeit expensive, is readily available. But Rolex takes it a couple notches higher. The brand uses what is called 904L steel, which is ludicrously more expensive than any other type available. Why? Simply because it looks and feels better, especially when polished. The 904L variant of steel is extremely hard to engineer, which is why Rolex also had to scrap old machinery and build custom ones to handle it. Now, do you think any other watchmaker would go to such extremes? Probably not.
2.    It Has Its Own Research And Development Wing
Rolex is well beyond all its competitors because other firms can’t match the Swiss company’s level of dedication to churning out truly exquisite pieces. The company has a well-equipped, in-house science lab with accomplished scientists, who research how to better future watches. The R&D department’s work doesn’t end there; the laboratory also works towards improving their machinery and technology to produce technological and horological masterpieces. Said to be as advanced as the facilities in the CERN and the likes, the wing helps manufacture watches that are multi-dimensionally superior to competitors.
3.    Makes Its Own Gold
How many watchmakers would you say are this obsessed with perfection? The brains behind Rolex bring in 24K gold from external suppliers and custom-make them into 18K versions, which subsequently go on to be used in the varied collection of watches. It isn’t just gold that they make in-house, the platinum used in the watches comes from one of their foundries. The 24K gold is turned into 18k yellow, white, or non-fading ever-rose gold. Large kilns under burning flames melt and mix the metal to the set standard, which is later used to make bracelets and cases. Doing so also allows Rolex to maintain its quality standards while also manufacturing the most luxurious timepieces.
4.    A Rolex Takes A Year To Create
Yes! You read that right! However, this shouldn’t be surprising given the company’s obsession with producing the best and the most intricately designed timepieces. The company makes over a million watches over a year, but still hasn’t found a shortcut to increase production because, as we’ve already mentioned, Rolex is all about quality and that is the only tangible aspect they value more than others.
Watch the production process of Rolex:
5.    The Company Has A Group Of Gemologists
As mentioned above, Rolex customizes the gold, platinum, emerald and other precious stones to suit its requirements. To meet its own high standards, the company has a swarm of gemologists with expertise in testing all these precious stones. The sole job of these experts is to buy and check these stones and to ensure they meet the quality guidelines. Once done, they’ll have to arrange the stones to be used later on Rolex’s varied models. There is talk that Rolex, with its unparalleled testing measures, has found 2 fakes in the 20 million diamonds it has tested so far.
6.    Rolex Manufactures Almost Everything In Its Facilities
You might have heard of luxury watchmakers contractually buying quartz parts from external sources to use in their watches. But with Rolex things are quite different. Rolex manufactures watches with pretty much all the parts being made in its four facilities. This also lets Rolex run independently without having to rely on other luxury watchmakers for key components.
To say the least, Rolex has been a frontrunner in the watchmaking industry ever since its introduction in 1904. The independent Swiss watchmaker has achieved a rare feat by weathering the storm created by mega-rich conglomerates and corporations and still stands firm as the best watchmaker the world has had the pleasure to see.
It is the largest single luxury watch brand in the world that makes over 2000 watches everyday. The revenue of this renowned swiss watchmaker was $7.7 billion in 2012, which only cements its dominance in the luxury world market.