Your answers to “Why would someone pay $5,795 for a used stainless steel Rolex Submariner?”

Sent by Jonathan Stark on April 8th, 2017

Lots of thoughtful answers to yesterday’s pop quiz!

In case you missed it, I basically asked:

Why would someone pay $5,795 for a used stainless steel Rolex Submariner?

Here’s a sampling of responses from y’all:

All good thoughts! Thanks so much for taking the time to reply :)

DISCLAIMER: Watches are so different from professional services that there aren’t a ton of direct insights we can gain from their pricing.

HOWEVER: The mind-bogglingly wide range of watch prices does reveal some important and useful truths about the subjectivity of value and the power of intangible benefits.

Of the answers above (all of which I think are valid) the ones that were closest to what I was going for were the ones that talked about:

From these two points, we can extrapolate some truths that are very useful for selling professional services:

Or to put it more succinctly:

Always be looking for intangible benefits that are prized by the high-end of your target market. These will lead you to your most profitable offerings. 

Yours,

—J

 


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