Feature: Why Is The Rolex Daytona So Expensive?
I’m going to take my chances here and bypass the “The Rolex Daytona was introduced in….” mumbo jumbo, because I’m betting that you already know what a Rolex Daytona is—and why wouldn’t you? The Daytona is so popular right now that even mentioning its name drives the market value up. But, have you ever wondered why the once underdog of the chronograph world has become, well, top dog?
Rolex
Do you know what the most recognisable luxury watch brand in the world is? No prize for guessing that it’s Rolex. It seems everyone and their mothers want a Rolex nowadays. But why do so many people want a Rolex specifically?
Well, even those that don’t know much about luxury watches know that Rolex means something—and that’s resulted in Rolex watches being chosen to commemorate many an occasion. Whether that be a milestone birthday, wedding or promotion, Rolex—thanks to its reputation for quality and its status amongst luxury items—is a choice many seem to turn to.
Popularity
Gone are the days where a Rolex Daytona can be found sitting in the back of a dealer’s safe, gathering dust and being offered as incentives for other purchases. Gone are even the days where you could buy one for a few thousand, or even retail—that wasn’t even that long ago. The Rolex Daytona is now one of the most sought-after watches on the market—and that’s thanks mostly to the 116500 LN.
The 116500 LN has an in-house chronometer-rated, column wheel chronograph movement—the Calibre 4130, with its respectable 72 hours of power—a ceramic bezel, and a very solid, very appealing Oystersteel build. Combine that with an RRP of £9,550—the Yacht-Master II costing almost £5,000 more—and the 116500 LN becomes one of if not the best value for money Rolex watch.
So, given that, you can imagine that a lot of Rolex fans want one—and that brings us to the next section.
Demand & Supply
Demand and supply is ultimately the main reason for sky-rocketing Rolex prices. Although Rolex produces a lot of watches each year—around 800,000—demand is still too much, which is why you will find yourself on a waiting list if you ask for one at a local AD.
The pre-owned market, therefore, reflects that and gives those with the means to do so quick access to the watch they’ve been lusting after. Think of it as a fast-track ticket at a theme park, be it one that costs around £30,000.
So, there you have it, the real reasons behind the insane pre-owned Rolex Daytona prices. Will they go down? Who knows? But I do think they will continue to climb first. And anyway, this whole thing raises an even better question: why would someone buy a stainless steel Daytona over a precious metal variant now they are around the same price? A question for another article, I suppose.
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