Is a luxury watch like Rolex worth so much money?

Why do luxury watches like Rolex cost so much money. They look kinda plain and the mechanical movements don't keep time as well as a their super cheap quartz counterparts. What then is the justification for spending over 5000 dollars for a regular steel watch?|||They are hand made. They last the rest of your life (assuming they get regular service). The equivalent Chinese watch lasts only a few months.



Even the cheapest stainless steel Rolex costs about $7,000.



A Rolex is vanity. I own one because I like it. But many people choose to have children. Children are vanity. I choose not to have that kind of vanity. Thankfully my girlfriend is on board with that. Smart phones are also vanity. I have no need for that. Everyone has their own vanity.



Also a Rolex is something earned. It is not about the watch. It is about the work it took to make the money to buy it.|||A very quick introduction to watches:



Watch lovers love mechanical watches. Mechanical watches are anachronistic; quartz watches are much more accurate and much less expensive.



Good mechanical watches can cost tens of thousands of dollars but are intended to last decades or longer. Patek Philippe, Rolex, and others make watches at this level. These watches are handmade, in-house, and feature exquisite workmanship in every minute part. Every detail of every component is perfect. People who have toured Patek Philippe's factory have commented, after seeing how much work goes into a Patek watch, that they don't understand how the company can sell their watches for so little.



Most people do not want such an expensive watch, and watches in the $30+ range are accurate and reliable. (Timex makes watches at this level.)



For a bit more, you can choose a watch with better finishing details and have more options (style-wise). If you're willing to spend up to $200 or so you can choose from innumerable styles of quartz watches that will be well-made and reliable. Watches at this level will be steel and, if you wish, gold-plated. Seiko and many others make watches at this level.



(In between extremely good mechanical watches and $200 watches are quartz watches made by serious watch companies that also make mechanical watches. These watches are made of gold so they cost quite a bit more than $200, and their finishing detail is usually very well done. Watches in this range might cost from $1,200 to $15,000+. Baume et Mercier and many others make watches at this level.)|||They are well made. $5,000 would be for a used one ! It's just a brand name to me.


I have a made in China watch so cheap it doesn't even have a brand name on it ! And it's accurate to about a minute a year. Good enough for me !|||Its because its so hard to put together and Rolex uses only their parts to put it together|||What your paying for is the style and the Rolex name plus the 5000$ watch those have GOLD in them so theres the money