ROLEX: The Most Secretive Business In The World

Welcome to the EPIC Rolex rags to riches story, the true business story of how an orphan built Rolex from nothing, and transformed Rolex into the most successful watch company. However, this is not just a business success story; it's also a closer look into how Rolex operates (as Rolex is a very secretive company). We'll also be answering: why are Rolexes are so expensive? This is the real truth about Rolex, the luxury watch manufacturer, and one of the most successful brands in the world.

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00:00 How an orphan built Rolex: The epic Rolex rags to riches story
10:21 Why are Rolexes REALLY so expensive?

Why Are Rolexes REALLY So Expensive? (The Epic Rolex Rags To Riches Story)
ROLEX: The Most Secretive Company In The World

How does an orphan with no money or connections build the most famous watch brand in the world? A lot of Rolex's history is shrouded in mystery and secrets, but today, we’re looking deeper into the incredible rags to riches story of Rolex, and answering the question: Why are rolexes really so expensive? Today, they're considered an investment by many, instead of just buying a watch. But, the story of Rolex begins with Hans Wilsdorf, the company’s innovative and mysterious founder. Hans was born in Germany in 1881, to parents Anna and Johan Wilsdorf, and his early childhood was filled with love, laughter and happiness - but that was cut tragically short when at age 12, both his mother and father passed away unexpectedly just a few months apart. Hans suddenly went from having two loving parents to being an orphan, and he had to go live with his uncles, who sent him off to boarding school.

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[MagnatesMedia]

⌚It’s pretty amazing what Rolex has now become considering how everything started for Hans. But it’s also a fascinating business to look at because of how secretive the company is. Hope you enjoy this one!

[ikoniczero]

"Hans was a master of watches, but not a master of time" what a legendary line.

[danielcunningham]

My great grandfather purchased a rolex back in 1928 and passed it onto my grandad when he passed then when my grandad passed away 19 years ago he left it to my grandmother and then when she passed 3 years ago she left it in her will for the grandchildren it was sold for £28000 I used my share of the money to launch my business which is now very successful so technically I have rolex to thank for my very successful life today 😆

[bad_money]

When I accidentally fall down and hear something break I'm going to hope it's my arm and not this watch.

[PounceHeadBall]

All your video text, colours and fonts match those of the companies you talk about - making it sound like the actual companies made them. Awesome and amazing. Give your team a raise 🙂

[KK-wtte]

Working in the Rolex building and it's true about not taking photos. Also it's more secure than Fort Knox! The security is next level for accessing areas of the large complex. And the amount they have just spent to build a large complex for training, research and development. They are definitely putting money back into the company. I'm talking hundreds of millions on this current work. Also the testing is a sight to behold, high tech and thorough! When you see it you see where the money is spent.

[David-nxvm]

By all accounts, the uptick in Rolex watchmaker hiring has been mainly to support their new CPO program reconditioning requirements. CPO rollout is limited now but will be worldwide in the next year. Rolex has new construction ongoing, but nobody inside Rolex is talking about whether it will be dedicated to manufacturing versus service center, R&D, admin, or replacement space. They know what they are doing, and are not going to flood the market with new watches and create a race to the bottom. Lots of YouTube watch channels run by dealers, long-time collectors, etc., speculate on what Rolex will do next, and they’re usually wrong. Entertaining, but if they can’t figure it out with their experience, the “man in the street” doesn’t stand a chance.

There is no Rolex shortage — anyone can purchase any Rolex they want on the secondary market but the prices are higher than waiting for a watch from a Rolex dealer. That’s one reason Rolex created CPO — get the pre-owned buyers into the ecosystem especially for discounted or vintage where the dealer has not been an option and buyers are concerned about authenticity. My wife and I both waited for new ones at MSRP from the Rolex dealer. Patience is a virtue, and we don’t care if their values go up or not.

[umarbnnaseer]

"Hans was a master of watches but not a master of time" 7:14-7:16

Deep, just deep!

[blakealanm]

A Magnates Media video that's less than a half hour long? Say it ain't so 😭
Love your videos and I can only imagine how long it takes to get all the information you need for each video, let alone the editing time!

[AwokenEntertainment]

New goal - buy a fish tank to put a Rolex inside of it..

[danjarts]

This channel deserves more recognition than it is receiving. The graphics and the editing leave me mind blown. And what about the research done? Great Job MagnatesMedia 👏🏾👏🏾

[christommygun]

Abraham-Louis Perrelet in late 1776 early 1777 invented a self-winding mechanism for pocket watches.
Breguet improved on it in 1779. 3 other watch companies before Rolex had their own take on a self-winding mechanism as a wristwatch variant.

[Iris_and_or_George]

Veblen goods are bizarre. The company I worked at exported a 40 y.o. bottle of port to china selling for €150, - but, it just wouldn't sell. After a few months they upped the price to €400, - and it was instantly sold out.

[CoveredInPiano]

Nice video, technically well executed and story of Wilsdorf and Alfred Davis is an incredible story regardless of if someone is into watches or not or likes/hates Rolex.

While you mention some really good points like the sheer amount they spend on marketing, it being reliable watches, placed in a very smart range expensive enough to be considered luxury but within realistic reach for many aspiring people (quality of movement finish and innovation is questionable to be considered haute horology though).

But you forgot to mention why they are really so expensive, as in 2021-2022 pricing. Because even 5-6 years ago, you could get Rolex Submariner for 5-6k, Daytona for 10-12k, which isn't that high compared to other lower tier luxury brands like Tag Heuer, Breitling, Montblanc. And there are plenty of comparable brands like Omega, Zenith, Cartier, Breguet, Ulyse Nardin and even the most expensive Rolex (retail price) is actually on the cheap side when you compare to brands like Patek Philippe, Vacheron Constantin, Audemars Piguet, A Lange & Sohne, MB&F, Gruebel Forsey etc where the retail price will easily hit 6 figures.

You should've mentioned something regarding the recent price hike in watches and instagram and other social media's impact. Basically everyone who made bit of money with cryptocurrency jumped on the watch game after seeing their favourite celebrities or influencers wearing iced out Rolex, Richard Mille and AP Royal Oak. And since authorised dealers only have limited amount and people don't want to wait 2-3 years, everyone turned to the grey market and price went up and up and up. 5k Hulk or Batman selling for 25-30k, but this is also same story for Patek Philippe Nautilus that used to sell for 25-60k is now 150-300k depending on the complication, AP Royal Oak, used to be 15-20k, end of last year, it was hard to find one for under 100k. Retail price of Rolex isn't high, it just comes with long waiting period, secondary market price is super inflated.

Maybe do a similar video on Richard Mille, now there is set of watches that are worth looking into and why they ask so much money for it.

[BlackheartCharlie]

Expensive? Nah! My friend Chuck bought one on the sidewalk in NYC for $100. When he showed it to me, I pointed out that the name on the dial should have only one "L" in it. Yep, he bought a "Rollex"!!! 🤣🤣🤣

[Thatdude]

Only Magnates can have me watching a documentary on a topic I had no interest in beforehand. Another great upload bro💪

[KidFresh]

Such high quality productions. Broadcast worthy! Side note: after 15 years together, my wife bought me an entry-level ROLEX, and I was excited as a school kid on Christmas Day. Marketing works.

[obinnasleeves]

You guys gotta admit, this video was brilliant! Rich detail for the win!

[hastensavoir]

Watch: Rolex
Car: Mercedes-Benz
Piano: Steinway & Sons
Mattress: Vispring
Kitchen: SieMatic
Refrigerator: Sub Zero
Sheets: Frette
TV: Sony

[joaopdias]

Just an addendum, current James Bond watches are from Omega, but it started with the Rolex in the early films