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Porter21

6 Figure Watches..... Why?

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Porter21

ok, so this may have been asked before but..... what makes a watch worth 6 figures?

 

I might be able to understand if it has a connection to a previous owner that is famous or maybe one that went into space.... but in rarity, why pay 6 figures for something? Like in a upcoming auction there is The Rolex Oyster Cosmographer "Albino" Reference 6263 previously owned by Eric Clapton that they estimate will sell for around 1 million dollars!!...... Why??

 

Then there is something like this (http://www.gizmag.com/legacy-machine-perpetual-perpetual-calendar-watch/40207/) which will have only 50 pieces made and selling for over $150,000!! I understand that it has a new "Ground-Breaking" movement that has never been seen before.... but I wonder how much money went into the development of this movement that they are ok with only making 7.5 million off of it? Why not be more like Rolex and sell Thousands of watches for a couple of grand each? If you made 25 thousand watches and sold each for $2k.... you make $50 million!

 

I just don't understand what makes a watch worth a six figure price tag?

 

....Any opinions?

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narikaa

Fluffy knows

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Kleen™

Some pieces are definitely worth 6 figs....but I'd much rather lay down that amount of money for cutting-edge exclusive craftmanship rather than "worn-by-sumbody-famas-blabla-storytelling"...but my point is moot...even if I had the doe, my sensible limit would be low 5 figures, which would suffice to buy me the "Three Kings" designs I like without feeling wrist-watch Crisco'ed....

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black263

Why would a dress be worth a fortune just because it was the one Marilyn Monroe was wearing in the wind-blown skirt scene in seven year itch. That went for £2.8million. http://www.bbc.co.uk/news/entertainment-arts-13828609

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Mazz

pubes???

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narikaa

Why would a dress be worth a fortune just because it was the one Marilyn Monroe was wearing in the wind-blown skirt scene in seven year itch. That went for £2.8million. http://www.bbc.co.uk...t-arts-13828609

 

 

Because there are people out there who will pay that

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black263

Why would a dress be worth a fortune just because it was the one Marilyn Monroe was wearing in the wind-blown skirt scene in seven year itch. That went for £2.8million. http://www.bbc.co.uk...t-arts-13828609

 

 

Because there are people out there who will pay that

Which answers the OP query. If people weren't prepared to pay that for a watch, they wouldn't make them

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aventerav

Nothing really does they just set any price they want, and people buy it to flaunt how much money they can drop on a single item. Just like how you see rappers with a million dollar watch on the wrist. I can name a lot of cars I would buy if I was very wealthy before I ever paid that much for a watch. At that price level it comes down to the ego of the buyer.

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Higs

5-figure watches... Why?

 

Because there are people out there who will pay that

 

4-figure watches... Why?

 

Because there are people out there who will pay that

 

 

3-figure watches... Why?

 

Because there are people out there who will pay that

 

 

$50 watches... Why?

 

Because there are people out there who will pay that

 

It's all about "what the market will bear".

And that applies to pretty much everything, not just watches.

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Lachsersatz

Why would a dress be worth a fortune just because it was the one Marilyn Monroe was wearing in the wind-blown skirt scene in seven year itch. That went for £2.8million. http://www.bbc.co.uk...t-arts-13828609

 

 

It's also a kind of "magical thinking".

 

Some people seem to believe - some unconciously - that the mere fact that a famous person wore a certain watch or sweat-shirt or drove a certain car or whatever "radiates" into the item as such - and radiates back to the new owner...

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elp

I think the celeb - linked memorabilia is for investment purposes rather than personal enjoyment ....

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deju

Because things are worth what people are willing to pay.

 

Why are topics on here turning into business and economics 101 lessons lol

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Dr_Rolex

Quality, craftsmanship, and brand to some extent...look at Patek they leave their watches under review with the cosc for months even years at a time to ensure the quality is top notch! I would definitely and happily pay 6 figures for a watch if I had the means. Once we start talking about the really really big leagues we can only wonder why people buy them but beyond the fact that they can afford them one must understand that they are worth it. I've see some watches that I can't remember the brand but it had and astonishing 57 complications! (Mind blown) the price tag was through the roof

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Jayums

Because it will be worth twice as much in twenty years to some other super rich person. The price of all kinds of collectibles is rocketing t the mo (luxury cars, watches etc) in the UK at least. Guess there doesn't seem like much point having money in the bank and the moment (...although I wouldn't mind!)

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myaz

Why not be more like Rolex and sell Thousands of watches for a couple of grand each? If you made 25 thousand watches and sold each for $2k.... you make $50 million!

Rolex makes even more in gross sales, selling a heck of a lot more more than 25,000/year at a heck of a lot more than a 2K starting price.

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Kleen™
Because it will be worth twice as much in twenty years to some other super rich person. The price of all kinds of collectibles is rocketing t the mo (luxury cars, watches etc) in the UK at least. Guess there doesn't seem like much point having money in the bank and the moment (...although I wouldn't mind!)

 

Money in the bank = negative interests.

 

Sad? Surprising? Prolly...but true...;)

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MikeAlmighty
Because things are worth what people are willing to pay.

 

Why are topics on here turning into business and economics 101 lessons lol

Because just like with everything, it has gotten watered down with age and popularity...there's 73,000 members.

 

...at least that's the way I see it :blind:

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LightGeek

Um, because that's what one makes in royalties or in a month?

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Porter21

Why not be more like Rolex and sell Thousands of watches for a couple of grand each? If you made 25 thousand watches and sold each for $2k.... you make $50 million!

Rolex makes even more in gross sales, selling a heck of a lot more more than 25,000/year at a heck of a lot more than a 2K starting price.

i know that..... I was just giving an example

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myaz

Why not be more like Rolex and sell Thousands of watches for a couple of grand each? If you made 25 thousand watches and sold each for $2k.... you make $50 million!

Rolex makes even more in gross sales, selling a heck of a lot more more than 25,000/year at a heck of a lot more than a 2K starting price.

i know that..... I was just giving an example

And I was just reinforcing your example.....No barbs intended.

but I wonder how much money went into the development of this movement that they are ok with only making 7.5 million off of it?

MB&F, hell anyone wanting to make money, would love to sell as many as possible.

The recognition of Rolex allows them to make 600-700K watches/year at the rate of about 2K/day.

It's much more difficult to market, even for Rolex, nearly that many watches when 1) they are 150K+/piece and 2) you don't have the Rolex market penetration.

MB&F had to have done a market study to guess how many were likely to sell before deciding on how many to make.

If these sell well, they'll change it up a little and make another limited edition offering. That's what they're hoping for.

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