Watchlords

https://www.google.co.uk/amp/s/www.watc ... -a-bubble/

"One of Rolex’s great tricks is to be the watch of choice for any newly minted millionaire, so 5.2 million people were potentially chasing the one million watches the business makes in a normal year, and that production was estimated to have been trimmed by around 25-30% by the pandemic."

Interesting story.

Well, choking off supply while stoking demand worked for DeBeers. It got people forking over 3 months salary for a small piece of compressed coal.

When it comes to intrinsic value a Rolex beats the hell out of diamonds which still suffer from low demand in parts of the world which weren’t treated to DeBeers marketing.

What Rolex has achieved is amazing.

In the grand horological scheme they produce watches that sit in the upper middle of the range from the very best to very worst of what is available...yet they have managed to make their watches desirable to people who could afford much better.

That is some slick social engineering.