Luxury King Rolex And Its Increasing Demand
Updated: Jul 27, 2021
Few prfdgoducts in the world are as famous and easy to recognize when it comes to representing much more than the products they label.
Brands like- Apple, Ferrari, Rolex, Rolls Royce, etc. have deeply rooted into the global culture to symbolize wealth, success, style, and quality.
When it comes to high-end timepieces, Rolex is the first and only watch luxury brand people think of.
In this article, we will discuss why Rolex is the luxury king and why its demand is increasing among the trendsetter.
Rolex: The Luxury King
In 1905, German-born Hans Wilsdorf and Alfred Davis set up an eponymous company in London. Later, Wilsdorf came up and named their company “Rolex” in 1908. Wilsdorf was very keen on precision timekeeping and in 1910, Rolex became the first wristwatch to carry the Swiss Certificate of Chronometric Precision from the Watch Rating Centre in Bienne, Switzerland.
Today, Rolex with its slogan “A Legacy Of Excellence” still defines precision in timekeeping. Over 100 years of expertise in precision timekeeping, Rolex is well dominated over the other luxury brands and this makes it a real luxury king.
Rolex watches are crafted thoughtfully and curated by experts from traditional techniques to cutting-edge technologies to bring joy to their owners as well as a sense of style. Rolex makes about 500,000 watches per year and with its successful models like- Date-adjust, Deep sea, GMT-master II, Yacht-master, and the new Rolex sky dweller are ruling the luxury market with their precision, technical innovation, and design consistency. Due to the quality and nature of design, Rolex watches are loved by celebrities, business leaders, and characters like- James Bond. These factors have made it the most preferred luxury brand in end time-pieces and have generated the company’s unrivaled success among watch brands.
Rolex Sea-Dweller and Deepsea
The Sea-Dweller and Deepsea series of Rolex watches are divers watches who love to deep-sea exploration. The Sea-Dweller was launched in 1967 with ultra waterproof resistance to a depth of 4,000 feet while Rolex Deepsea was launched in 2008 with waterproof resistance of depth 12,800 feet. The features like 60-minute graduated, unidirectional rotatable bezel helps divers to monitor their dive and decompression times exceed the demands among professional divers.
The Submariner Series
True to its aesthetic heritage, the new Submariner and Submariner Date series watches launched in 2020 by Rolex to denote the historic relations with the world of diving. The Submariner series is equipped with calibre 3230 and 3235 self-winding mechanical movements and can store power for up to 70 hours. Thus, this series of watches are loved by people because of its modern design, architecture, manufacturing, and innovative features.
Rolex Datejust Series
Rolex Datejust31, Datejust 36, and Datejust 41 series of watches come with Oyster steel and 18 ct white gold featuring a bezel set with 46 brilliant-cut diamonds. The first model was launched in 1945, Datejust watches is the first self-winding waterproof chronometer to display the date in a window and even today these watches never go out of fashion. The Datejust series is crafted from 18 ct yellow, white, and everose gold with a set of diamonds to reflect the personality of its carrier.
Oyster Perpetual Series
The oyster perpetual series watches are loved for their universal and classic style for day-to-day functions. The new generation of oyster perpetual watches comes in 41 mm or 36 mm respectively. It is fitted with a domed bezel, and dials with different vivid colours. With a calibre of 3230, oyster perpetual watches offer fundamental gains in terms of precision, power reserve, resistance to shocks, and magnetic fields.
Yacht-Master And Yacht-Master II
Yacht-master and yacht-master II series of watches are inspired by the world of sailing. These watches are specially designed for sharing the highest standards of excellence with the custodians of yachting. Yacht-Master combines character and performance and blends function and style while Yacht-Master II is the finest timepiece design with regatta chronograph for yachting competition.
If you love to travel frequently to the different time zones the Rolex sky-dweller is an elegant time-piece for you. This watch displays the time in two time zones simultaneously and has an annual calendar. The local time is read using conventional center hands and the date changes according to local time while reference time is shown via an off-center disc. This classic Rolex comes with an innovative bracelet made of high-performance elastomers. With a calibre of 9001, the sky-dweller is 10 times more precise in case of shocks and offers a power reserve of approximately 72 hours.
Why Demand For Rolex Is Increasing
Over the past couple of the years, Rolex watches have continued to grow strong due to technological innovations and strategy that limits demand for the number of watches. We are noticing a wider increase in the desirability of luxury watches that can be worn all day in the office, meetings, or at the beach club, and late-night parties. Basically, the industry is moving to the multipurpose watch concept and Rolex is benefiting from that.
A fundamental characteristic of demand is price, quality, and performance and Rolex fits well in all these qualities. Therefore the demand of Rolex watches is continuously increasing due to their quality, colour, design, and engineering of the watch face that can be easily defined and distinguished from other goods by several characteristics.
Another factor that we can consider is high resale value. Rolex watches are built for generation and that’s why it offers a high resalable value. Many prefer to purchase it due to their high resalable value which means that owning a second watch is worth it. Thus, Rolex watches demand is high when compared to the other luxury brands.
The demand for Rolex has been increased in Asian countries like- India and other Middle East countries like- the United Arab Emirates with the rise in income. The increase in the income earned by these individuals means that demand for luxurious products like Rolex watches has increased. This means that the increase in the number of consumers will have a positive influence on demand and this has created a shortage of Rolex watches across the globe.
Rolex is a premium luxury brand that always finds its spot in terms of luxurious time-pieces and loved by professionals across the world. Due to the limited quantity of Rolex watches supplied there is always an ever-increasing demand for them. The high-end watch brands control their distribution tightly and the prices will continue to rise in the future. Some models of Rolex are still in short pre-owned supply due to more buyers.