April 7, 2017
Why would someone pay $5795 for a used watch?
A simple Google search will return hundreds of thousands of watches in the $5000 price range.
Here’s a random one:
PRE OWNED MENS USED ROLEX SUBMARINER 14060M NO DATE
Why would someone spend $5,795 for a used stainless steel Rolex?
Is it the materials?
No. I’d be surprised if the materials in this stainless steel Rolex cost more than fifty bucks.
Is it the labor that went into building this watch?
No. Rolex produce two thousand watches per day. That is roughly one per minute if they work round the clock.
Is it the accuracy of the time keeping?
No. A $20 Timex is more accurate than this Rolex.
So... WHY?!?!?!
Here’s why:
The reason someone would spend $5,795 for this used stainless steel Rolex Submariner is this:
Because they WANT it bad enough!
(i.e., they want a used stainless steel Rolex Submariner more than they want the $5,795 that it costs to own one.)
So...
Now we have a similar (but fundamentally different!) question:
Why would someone want a used stainless steel Rolex Submariner more than the $5,795 that it costs to own one?
Hit reply and give me your best guess... more tomorrow!
Yours,
—J