Rolex Wristwatch History, Sales & Marketing
Some say a $4000 Rolex watch isn’t as accurate as a $30 quartz watch and is 200 times less accurate than a high-end temperature compensated quartz watch

Rolex is arguably THE WATCH to have if you want to show off your status and wealth. With models that can retail for as much as $6000 and up, these timepieces aren’t for the budget minded.

But are Rolex watches worth the price? Or, are they merely another product that’s benefited from a successful marketing campaign and years of hype?

The expensive Rolex watch comes from humble beginnings. The company was founded by Hans Wilsdorf and his brother-in-law Alfred Davis in 1905. A little known fact is that neither man was a watchmaker by trade.

The name of the company in the beginning was Wilsdorf & Davis and Wilsdorf originally wanted his timepieces to be affordable to everyone. The watches initially were made by placing imported Hermann Aegler’s Swiss movements into cases that came from various manufacturers. These early models were sold to jewelers who stamped their names on the watch’s dial.

No one really knows where the name Rolex came from. Some speculate that the word was derived from a French phrase, horlogerie exquise , which meant exquisite watch industry. Others maintain that Wilsdorf wanted the name of his watches to be easily pronounced in any country. Whatever the true story, the name Rolex was officially registered on November 15, 1915.

Rolex is certainly the manufacturer that popularized the wristwatch, but they also invented several key technologies that are still in use today. For example, Rolex is responsible for the first self-winding watch, the first waterproof watch, the first watch with a date on the dial, the first watch to display two time zones at once and the first watchmaker to earn the chronometer certification for a watch.

Rolex, if nothing else, is a company that knows how to market their watches. When they created the first waterproof watch, it wasn’t enough to just announce it as such. Instead, Rolex had a special watch made and attached it to the side of the Trieste bathyscaphe (a diving submersible), which dove to the bottom of the Mariana Trench. As predicted, the watch kept perfect time.

Rolex has also gone to great lengths to associate their timepieces with adventurers who wore the watches from the extreme depths of the sea to the top of Mt. Everest. In addition to sportsmen, Rolex developed a long-standing relationship with Hollywood when Sean Connery sported a Rolex Submariner in his first appearance as James Bond in the film “Dr. No.” Bond would go on to wear Rolex watches in 8 more films.

The Rolex marketing machine has been churning out gold for decades. Rolex is among the world’s most recognized brands. It is cherished, lusted after, copied and cursed.

There’s no doubt that Rolex uses top-of-the-line metals and jewels in their watches. They manufacture their own movements and only release a limited number of any particular model each year. This all adds up to a watch that is highly sought after and very expensive. Because of the expense, many people assume that Rolex makes the most accurate and most rugged watches in the world.

But is that just marketing spin?

Rolex maintains that their watches are extremely accurate even though they won’t release actual numbers. Some people say that the truth is a $4000 Rolex watch isn’t as nearly as accurate as a $30 quartz watch and can be up to 200 times less accurate than a high end temperature compensated quartz watch.

Rolex watches are certified to be accurate within 3 seconds a day, but many cheap quartz watches are accurate to better than a second a day.

Rolex – The Dirty Little Secret

Also, when it comes to the adventurers and extreme sportsmen, it’s a little known fact that Rolex pays these people to wear the watches on their expeditions in order to advertise the idea that Rolex watches are durable and rugged. However, when the cameras are off and these people are free to wear the timepiece of their choice, most do not choose Rolex. In fact, many people who depend on their watches for their very survival say that Rolex watches are less durable than many modern quartz watches.

NASA’s divers often use the Quartz version of the Marathon TSAR and other tough guys like combat soldiers, pilots and extreme sportsmen prefer watches especially designed for the rigors of their activities like the Casio G-Shock (a watch made infamous by its association with terrorists).

Another criticism of Rolex watches is the fact that they require more repairs and servicing than modern watches. This can be attributed to their obsolete design. Rolex prefers to call these designs “timeless”. Detractors call that a load of marketing crap. But if you must have a Rolex on your wrist be prepared to pay Mercedes or Porsche prices for servicing – and regular servicing is recommended.

At Great Guy Life we have to admit that we like Rolex watches. They have that retro Bond cool that just won’t wash off even in all their marketing. While some think of Rolex watches as the ultra-gauche Yuppie trinket of the 1990s, like that huge gold chain was to the Disco era, there’s something undeniably desirable about Rolex watches. Just like that ice cool blonde at the party who you know is trouble, but you just can’t stop thinking about her – that’s how we think of Rolex. And when you get her (c’mon at Great Guy Life we believe everything is possible) there’s always that nagging concern that you can’t keep her happy. At least a Rolex only needs oiling and adjusting once a year.

So here’s the bottom line; we think that if keeping accurate time and rugged durability are your main concerns, you can do much better than a Rolex by purchasing any number of quality, modern, Quartz watches. However, if you need to impress others by showing off your expendable income in a tangible way, then a Rolex delivers that message loud and clear.

The blonde would understand.

So would James Bond.