The Story Behind Rolex: Why This Watch Is So Expensive

When we talk about watches, everyone has their own preferences. Sports chronos and now smartwatches are on people's favourite lists. But all watches have one main job: to tell the time. However, there's one watch in the world that doesn't just tell you the time; it tells you how your time is going. The story of watches, which started with telling time, has now become a symbol of status. And when it comes to luxury status worldwide, the first name that comes to mind for a watch is Rolex. Switzerland, which made watches its king, and gave watches the most popularity in the world, is Rolex. How did an orphaned boy build the world's biggest watch company, Rolex, and take it to such great heights? That's the story I'm telling you.

Rolex has been a symbol of American status for people around the world for the past century. The special thing about Rolex is that no matter the circumstances or weather, the watch is unaffected. Rolex watches have been tested in the depths of the ocean and on the highest peaks like Mount Everest. They've been accurate in snow, wind, race tracks, and deserts. The company makes 1 million watches every year. From Roger Federer to Virat Kohli, they are fans of these watches.

The Founders And The Beginning

Two people are credited with starting the Rolex company: Hans Wilsdorf and Alfred Davis. Hans Wilsdorf played the more significant role. Hans Wilsdorf first learned the watchmaking trade. Then, in 1905, he started his own company in London. Due to the First World War, he left London and moved to Geneva. In 1919, he made Switzerland the headquarters of Rolex.

Rolex is one of the world's leading luxury brands, known for its quality. It's said that whoever wears a Rolex watch is considered wealthy and has a distinct status. When Wilsdorf and Davis founded the company in 1905, they probably didn't know it would become the world's most beloved brand. Hans Wilsdorf, who was good at maths and other subjects, played the main role in the company's vision and growth. This helped him work abroad. He entered the watch world at the age of 19, starting his career at a watchmaking company called Kuno Curtens. His job there was simply to check if the watches were keeping accurate time.

Wilsdorf gained detailed information about watches and learned about their production. In 1903, he was in London working for this company, unaware that he was about to write his own destiny. In 1905, instead of working for others, he decided to start his own business. He had a dream of a bright future in the watch world and chose his friend Alfred Davis for this. That same year, they opened a company together named Wilsdorf & Davis. This company later became famous as Rolex.

Initially, Wilsdorf only made watches, but they weren't sold under his or his company's name. They imported parts from outside, assembled the watches, and then sold them to jewellers. These jewellers would then brand the watches made by Wilsdorf under their own names and sell them. This continued for three years. After that, when Wilsdorf felt the business was doing well and he understood the market, he started selling watches under his company's brand.

Key Takeaways

• Rolex watches are a symbol of luxury and status.
• Hans Wilsdorf, an orphaned boy, founded the company.
• The company faced challenges like World War I but persevered.
• Rolex watches are tested in extreme conditions.
• The brand is known for its high-quality materials and meticulous craftsmanship.

In 1908, Wilsdorf's company was registered. He then opened a new office in Switzerland. In 1919, he had to close his London office because the British government significantly increased taxes due to World War I. He decided that Geneva, Switzerland, would be the best international headquarters. Rolex's headquarters remain there today. Establishing the company in Switzerland was advantageous as he found the right team there. Switzerland was also a neutral country, not heavily involved in wars.

Wilsdorf's company was running under the name Wilsdorf & Davis, but he wanted to change the company's name. He desired a strong, five-letter name. Over 100 names were considered, but none were satisfactory. Legend has it that one morning, while riding on the upper deck of a horse-drawn omnibus in London, Wilsdorf felt as if a genie whispered in his ear. At that moment, a name came to his mind: Rolex. Strangely, this word has no meaning and doesn't belong to any language. Yet, Wilsdorf liked it because it was easy to say and remember, and it had five letters. Thus, Rolex became the name.

At the same time, Wilsdorf decided that Rolex would be the brand name for his watches because it was simple, easy to remember, easy to pronounce, and looked good when written on a watch.

The Iconic Logo And Special Features

Rolex's logo features a crown, which has its own significance. Wilsdorf included the crown in the Rolex logo to show his respect for the British Kingdom. At that time, crowns were very popular, so people liked them.

What makes Rolex watches so special and expensive? Actually, Rolex was more than just a watch; it was a revolution. Watches were no longer just pocket watches. This company created watches that worked everywhere – in water, on land, and on mountains. Mountaineers used them. They also created the first "submariner" watches for swimmers and divers, which were used to reach the Mariana Trench. The automatic wristwatch is also a contribution from Rolex. Over time, they continuously worked to bring revolutions to the watch world, establishing a unique identity for Rolex.

Rolex watches are expensive but also very popular. The work done in Rolex's labs on watches is incredibly detailed, perhaps unmatched anywhere else in the world. With state-of-the-art equipment and skilled artisans, Rolex began making mechanical watches. While common watches in the market use 316L steel, Rolex uses 904L steel for its watches. The watch dial uses white gold. Additionally, the numbers on the watch are made from special glass and platinum, with ceramic also used. This is why Rolex is so popular and expensive. The meticulous way they are made, with the detailed work in their labs, is unique to Rolex.

The dial is very special, made from white gold, with special numbers. Every tiny detail is carefully considered. A person who once only checked if watches told the correct time built his brand, Rolex, and today, this company produces 1 million watches annually. Celebrities like Dwayne Johnson, Will Smith, and Justin Bieber have promoted it, contributing to its popularity. In 2021, Rolex achieved a revenue of 13 billion dollars.

Rolex As A Commodity

In the 1970s, confidence in the American dollar was wavering, and trust in crude oil was decreasing. This was a time when people started viewing Rolex watches as a commodity. If someone owned a Rolex, they were considered very wealthy and remarkable. Dealers would buy Rolex watches in Switzerland, sell them in Italy, and then Italians, wearing luxury watches, would go to America and other parts of the world, selling them for many times the price.

The use of Rolex as a commodity can be seen in the auction of Hollywood actor Paul Newman's Rolex. In October 2017, it was auctioned for 1.8 million dollars, which is about 142 crore rupees today. This was a 1968 model watch gifted to him by his wife, on the back of which he had carefully engraved. Here's another interesting fact: Rolex watches are often pictured showing the time 10:10. This is because, initially, they set the time to 8:20. However, they changed it because they felt the position of the hands at 8:20 formed a sad face. 10:10 was chosen because when the hands are at this position, they form a happy smile. Also, when the hands are at 10:10, the two hands form a 'V' sign, which symbolises victory. This was done to inspire watch buyers.

This is the complete story of Rolex, one of the world's most expensive watches and a brand so significant that if someone is wearing a Rolex, the world understands that there's no need to ask them for the time; their time is already going very well. Keep watching Duniyadari for more trending topics like this.