When anyone hears the word “rich”, what images come to mind? Do images of huge houses, fancy cars, and pockets full of green money begin dancing in your head? What else comes to mind? What about fancy jewelry and Rolex watches? How many movies have been made where it shows a person striking it rich, and the first thing that person does with his new found fortune is to buy a Rolex watch?
When it comes to watch fashion, Rolex watches are considered to be among the most beautiful watches in the world, and people who have money will buy Rolex because they are a status symbol of wealth and power. Ever wondered how this company began? The following are more information on the history of Rolex watches.
Wilsdorf and Davis: Hans Wilsdorf and Alfred Davis, who was his brother-in-law, had a company in London. The year was 1905, and at this time Wilsdorf and Davis made the inner workings of watches that they imported to Switzerland. The two men were making the guts of watches for other people, and those watchmakers were taking credit for the incredible work of Wilsdorf and Davis.
Rolex: Three years later, in 1908, Wilsdorf went to an office in La Chaux-de-Fonds, Switzerland and registered the trademark “Rolex.” However, the actual name Rolex was not used for another seven years. There is no actual record of exactly how the name Rolex was created, and there were many sources who claim that the name Rolex was simply one that the brothers came up with together. Rumor has it that Wilsdorf wanted the name of the watches to be something that would sound good in any language.
By 1919, because of the outbreak of World War I, there were a lot of huge taxes put on both importing and exporting of goods out of England. This dramatic increase in price lead Wildsdorf and Davis to take their watchmaking skills out of England and out to Geneva, Switzerland. The Rolex Watch Company was established in Switzerland. Twenty five years later, in 1944, when Hans Wilsdorf became a widower, the Hans Wildorf Foundation was created and entrusted his shares of the company to this foundation. The purpose of the Wildorf Foundation is to make sure that a good portion of the revenue Rolex generates goes to charity, and the company is owned privately and stock shares are unavailable to be traded or bought.
We all know that Rolex is known for its high price tag – here are some of the more expensive Rolex’s:
- 1942 Rolex Chronograph – $1+ million
- Eric Clapton’s 1971 Rolex Daytona – $500K+
- Rolex GMT 116769TBR – $475K +
- James Bond 1973 Rolex 5513 – $450K+
- Dr. Rajendra Prasad’s Gold Rolex Oyster – $425K+
- Rolex Platinum Pearlmaster 18956 – $275K+
- Paul Newman Ferrari Red Rolex Daytona 6565 – $50K+
- Steve McQueen 1967 Rolex Submariner – $225K+
- Paul Newman Rolex Daytona – $100K+
- Rolex Submariner for Cartier – $100K+
Rolex makes about 2000 pieces in a single day but the time-honored quality and reliability have never been compromised. Furthermore, it has introduced new technologies like the Parachrom hairspring and Paraflex shock absorbers. These things are a strong testament of the Rolex evolution as time and technology together are fast and constantly changing. Clearly, Rolex watches are not just pretty, but also revolutionary and evolutionary.
It has been making watches for a very long time, and the name Rolex is synonymous with high quality, high class, and wealth. Anyone who wants a watch that will keep excellent time and last a lifetime, then Rolex is the only watch for you.