ROLEX: The Most Secretive Business In The World
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- čas přidán 28. 05. 2024
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Welcome to the EPIC Rolex rags to riches story, the true business story of how an orphan built Rolex from nothing, and transformed Rolex into the most successful watch company. However, this is not just a business success story; it's also a closer look into how Rolex operates (as Rolex is a very secretive company). We'll also be answering: why are Rolexes are so expensive? This is the real truth about Rolex, the luxury watch manufacturer, and one of the most successful brands in the world.
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00:00 How an orphan built Rolex: The epic Rolex rags to riches story
10:21 Why are Rolexes REALLY so expensive?
Why Are Rolexes REALLY So Expensive? (The Epic Rolex Rags To Riches Story)
ROLEX: The Most Secretive Company In The World
How does an orphan with no money or connections build the most famous watch brand in the world? A lot of Rolex's history is shrouded in mystery and secrets, but today, we’re looking deeper into the incredible rags to riches story of Rolex, and answering the question: Why are rolexes really so expensive? Today, they're considered an investment by many, instead of just buying a watch. But, the story of Rolex begins with Hans Wilsdorf, the company’s innovative and mysterious founder. Hans was born in Germany in 1881, to parents Anna and Johan Wilsdorf, and his early childhood was filled with love, laughter and happiness - but that was cut tragically short when at age 12, both his mother and father passed away unexpectedly just a few months apart. Hans suddenly went from having two loving parents to being an orphan, and he had to go live with his uncles, who sent him off to boarding school.
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⌚It’s pretty amazing what Rolex has now become considering how everything started for Hans. But it’s also a fascinating business to look at because of how secretive the company is. Hope you enjoy this one!
👀 And if you want something to watch after this, check out my video on the most brutal businessman: czcams.com/video/KXFwnXEk6N4/video.html - this video never really took off with the algorithm so you likely haven’t seen it, but I think it’s a really cool story so hopefully you’ll enjoy.
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Shame how much is just tax dodging.
Basically it is either for grown ups, trying naively to fill a mental hole with physical stuff, and from this perspective is a sign of mental disability. Or exploitation of a loophole, which usually is put indirectly by rich. Either way, if luxury goods were viewed like that in the shared conciencous, they would loose a vast majority of value over night, because is a mass illusion.
a
最大最大的体系🤔🧐
Next video on apple plz
"Hans was a master of watches, but not a master of time" what a legendary line.
Timeless 😊
The timing was impeccable
And here you rhyme
Well thanks for the spoiler mate...
Business and marketing genius
When I accidentally fall down and hear something break I'm going to hope it's my arm and not this watch.
😂
Phahahahaha
Where’s the broken Rolex now from your great gpa
@@DuckQuack0 buddy why didn't you go to the police
All your video text, colours and fonts match those of the companies you talk about - making it sound like the actual companies made them. Awesome and amazing. Give your team a raise 🙂
My great grandfather purchased a rolex back in 1928 and passed it onto my grandad when he passed then when my grandad passed away 19 years ago he left it to my grandmother and then when she passed 3 years ago she left it in her will for the grandchildren it was sold for £28000 I used my share of the money to launch my business which is now very successful so technically I have rolex to thank for my very successful life today 😆
What business ?
You have to thank your grandmother, not Rolex, you f@cking fool.
Knowing Rolex's shrewd marketing strategy, I just hope they didn't get/pay you to make this comment! 🙂
But you don’t have a watch.
@@daniaalkahn7325 good point but I can assure you I never 😆
A Magnates Media video that's less than a half hour long? Say it ain't so 😭
Love your videos and I can only imagine how long it takes to get all the information you need for each video, let alone the editing time!
He just needs to keep pumping out top quality.
People will catch on soon.
Like Why Files..
share
New goal - buy a fish tank to put a Rolex inside of it..
Working in the Rolex building and it's true about not taking photos. Also it's more secure than Fort Knox! The security is next level for accessing areas of the large complex. And the amount they have just spent to build a large complex for training, research and development. They are definitely putting money back into the company. I'm talking hundreds of millions on this current work. Also the testing is a sight to behold, high tech and thorough! When you see it you see where the money is spent.
I used to work across the street from the Toronto location on St.Clair West. Always wondered what was inside...
@@CbassPlaysGames not sure what's in the Toronto one. Wether it's for sales, shipping or actual manufacturing. But it's looks pretty small compared to the one here. There are like 6 buildings that size or bigger at the Geneva HQ. But here they train watch makers too as well as manufacture the watches.
First time i wear rolex for 72 hours it can only run 30 hr🤣🤣 guess what the rolex center said: .. anyway bunch of idiot..
Then i switch to omegA.. and realized they playing the same game to be rolex.. ok bye all welcome grans seiko
@@johngear5747 sorry I couldn't understand your reply 😅
@@johngear5747 Maybe you bought a Chinese fake, fortunately not an African variant, which would be badly made out of Twigs & Mud.
Nice video, technically well executed and story of Wilsdorf and Alfred Davis is an incredible story regardless of if someone is into watches or not or likes/hates Rolex.
While you mention some really good points like the sheer amount they spend on marketing, it being reliable watches, placed in a very smart range expensive enough to be considered luxury but within realistic reach for many aspiring people (quality of movement finish and innovation is questionable to be considered haute horology though).
But you forgot to mention why they are really so expensive, as in 2021-2022 pricing. Because even 5-6 years ago, you could get Rolex Submariner for 5-6k, Daytona for 10-12k, which isn't that high compared to other lower tier luxury brands like Tag Heuer, Breitling, Montblanc. And there are plenty of comparable brands like Omega, Zenith, Cartier, Breguet, Ulyse Nardin and even the most expensive Rolex (retail price) is actually on the cheap side when you compare to brands like Patek Philippe, Vacheron Constantin, Audemars Piguet, A Lange & Sohne, MB&F, Gruebel Forsey etc where the retail price will easily hit 6 figures.
You should've mentioned something regarding the recent price hike in watches and instagram and other social media's impact. Basically everyone who made bit of money with cryptocurrency jumped on the watch game after seeing their favourite celebrities or influencers wearing iced out Rolex, Richard Mille and AP Royal Oak. And since authorised dealers only have limited amount and people don't want to wait 2-3 years, everyone turned to the grey market and price went up and up and up. 5k Hulk or Batman selling for 25-30k, but this is also same story for Patek Philippe Nautilus that used to sell for 25-60k is now 150-300k depending on the complication, AP Royal Oak, used to be 15-20k, end of last year, it was hard to find one for under 100k. Retail price of Rolex isn't high, it just comes with long waiting period, secondary market price is super inflated.
Maybe do a similar video on Richard Mille, now there is set of watches that are worth looking into and why they ask so much money for it.
DM For Business & sponsorship inquiries^^
Nicely summarized. What are your thoughts on prices future? With the looming recession, I'm hoping Rolex prices to drop down so I can finally afford one.
Although I feel like it won't ever come back to what pre-2020 levels.
@@groverneeraj Yeah, while the watch market will fluctuate little bit (like earlier this year where there was a considerable dip in some watch prices in the grey market) I don't think they will come down to pre 2019-2020 prices on permanent basis.
There is continuous shortage in the ADs and stupid long waiting period on some of the more popular models if you looking to buy them new. So the second hand market prices are still going to be inflated.
You can always take your chances on Chrono24 or Luxury Bazaar and see if a bargain pops up every now and then.
So called "Tiffany" blue dials & green dials Rolex models (except Daytona) are dropping prices in SOME parts of the world as we speak. Only in obscure places, such as Taiwan for example.
There's a couple of other brands they produced that seemed to be not mentioned 🤔 edit: Tudor was mentioned, eventually.
This channel deserves more recognition than it is receiving. The graphics and the editing leave me mind blown. And what about the research done? Great Job MagnatesMedia 👏🏾👏🏾
i share this channel on social media constantly
Like Bruh 😊.
"Hans was a master of watches but not a master of time" 7:14-7:16
Deep, just deep!
Veblen goods are bizarre. The company I worked at exported a 40 y.o. bottle of port to china selling for €150,- but, it just wouldn't sell. After a few months they upped the price to €400,- and it was instantly sold out.
That's crazy
That was how my one location competed with the new guy in town. They had no experience in the tattoo trade but the college students were choosing them and getting destroyed. We fixed a lot of work on those who chose them over us and found out they chose them because they charged 3x as much as our quote. We tripled our prices and problem solved. They shut down. College smarts in action at PSU.
Abraham-Louis Perrelet in late 1776 early 1777 invented a self-winding mechanism for pocket watches.
Breguet improved on it in 1779. 3 other watch companies before Rolex had their own take on a self-winding mechanism as a wristwatch variant.
By all accounts, the uptick in Rolex watchmaker hiring has been mainly to support their new CPO program reconditioning requirements. CPO rollout is limited now but will be worldwide in the next year. Rolex has new construction ongoing, but nobody inside Rolex is talking about whether it will be dedicated to manufacturing versus service center, R&D, admin, or replacement space. They know what they are doing, and are not going to flood the market with new watches and create a race to the bottom. Lots of CZcams watch channels run by dealers, long-time collectors, etc., speculate on what Rolex will do next, and they’re usually wrong. Entertaining, but if they can’t figure it out with their experience, the “man in the street” doesn’t stand a chance.
There is no Rolex shortage - anyone can purchase any Rolex they want on the secondary market but the prices are higher than waiting for a watch from a Rolex dealer. That’s one reason Rolex created CPO - get the pre-owned buyers into the ecosystem especially for discounted or vintage where the dealer has not been an option and buyers are concerned about authenticity. My wife and I both waited for new ones at MSRP from the Rolex dealer. Patience is a virtue, and we don’t care if their values go up or not.
Expensive? Nah! My friend Chuck bought one on the sidewalk in NYC for $100. When he showed it to me, I pointed out that the name on the dial should have only one "L" in it. Yep, he bought a "Rollex"!!! 🤣🤣🤣
The quality of this video is insane! Excellent work
I love your content. I haven't seen business documentaries presented in the format and the type of artistic style used for your videos.
ok how are you able to put out productions of these level in 2 weeks time each. That's insane man, you either have a crazy team or you're a wizard editor , script writer, narrator and researcher. Nonetheless I really appreciate you production of these videos and I get to see them for free
Internet is not free
You pay
That aside, John is a legendary story teller and editor
These are filmed weeks in advanced.
Yes absolutely true
Such high quality productions. Broadcast worthy! Side note: after 15 years together, my wife bought me an entry-level ROLEX, and I was excited as a school kid on Christmas Day. Marketing works.
I really loved your creativity John..
Just like a mini movies
You guys gotta admit, this video was brilliant! Rich detail for the win!
Only Magnates can have me watching a documentary on a topic I had no interest in beforehand. Another great upload bro💪
Your Editing Style and Storytelling is just Brillant
Just an addendum, current James Bond watches are from Omega, but it started with the Rolex in the early films
Awesome video with a lot of work put in it regarding content as well visualisation. Thanks!
7:14 “Hans was a master of watches but not a master of time” way too real
Great video with lots of well researched background on Rolex. I think the secret of success of the brand lies deeply in the owner structure, that is not only looking for short term returns. This is a contrast to a brand like Breitling, that in the 90s used to be somehow on the same level as Rolex, but since then has deteriorated a lot. In my eyes this partly due to Bretiling being owned by a private equity firm.
There's something about your documentary videos that makes them seem a lot more interesting than the ones from other channels.
I truly believe the sole difference between this and other channels alike is the microphone John uses!!!
Rolex: The watch that will get you mugged. No thanks, I'll go with something less ostentatious.
Yeah, but in a pinch it's like portable wealth.
Your video editing is very crisp mate, love your videos. Kudos ! 🤌🏻
Better question -
Why don’t more people follow you?
Perfect inflection with your story telling! Awesome topics. I must say also that the depth to which you investigate actual truth has me wonder what actually bases your passion for the channel.
Keep on, man!
Kudos from Canada
^^Do So Now^ got something to introduce you to.
The way he taaaIks, can’t bear iiiit. It’s a shame because the subjects are interestiiiing.
@@lordthistlewick5711 Correct. His speech patterns are decidedly lower class. Such sounds don't fit comfortably with higher-end brands such as Rolex. Alas, all comments add to his/their monetisation. NOT subscribed.
@@chewhard8332 i don't want to get into a long correspondence with you. You are entirely wrong. A very long life in academia informs my views. You might read a little more ancient history, particularly that of Mesopotamia. You will recognise the Hebrew bible's extractions. I wish you well, but direct you, intellectually, to history, rather than the various assembled religions.
@@puccini4530 how did you manage to move from Magnet Media straight to Mezopotamia and Biblical extractions...?
Young or old, of Academia background or not, you sound like a jerk here. It's not enough to throw a few of profound words here or there, in order to undervalue someone's hard work.
sometimes its hard to comprehend how these companies got to the position they are in. People only pay thousands of dollars for these items because everyone knows about them and knows thats how much they cost, so how do they even get into this position lol
And what do you pay them with? Pieces of paper or digital numbers?
Rolex is like a currency: it has some inherent value (materials and function), but most of the value is bestowed upon it by society. As long as the majority in society decides that this inflated value has value, it has value :)
Neither Rolex nor its (potential or even wannabe) customers want that value to decline, so without an alternative (there's other luxury watches, but none have Rolex heritage), that value won't decline.
There is little logic in it, mostly emotions and laziness, which is why Coca Cola is still the biggest, and that's not even a Veblen good.
Rolex is selling an idea, the watch just comes with it.😊
The "Oyster Case" was purchased by Rolex from 2 watch-makers. Also, hand winding a mechanical movement's mainspring makes a distinctive "Rolling" and "Clicking" sound - The name Rolex is an onomatopoeia.
Brilliant video - Thank you. Well researched, well presented, time well spent.
What these stories don't tell you is...that these people had good saving skill, trading skill, financial management...they had a working system....they were actually supported by a market that buys,customers that don't fail to appreciate products,but now you get customers not showing appreciation for your product will you thrive?
Very interesting video, particularly about Tudor watches.
My wife, 4 sons and I are sitting here listening to this video. Very cool!
What an amazing thumbnail. You got one of the best thumbnails on youtube
Looked similar to that of Future Proof. Same watch and also green background.
You should have at least 1M subscribers for the effort you put in these videos
the research and the video edit skills is insane
Thank you magnate media I really wanted this kind of Rolex lot of love from South Africa
Yes! Just the video I was looking for🥂
Interesting but so many errors:
Rolex didn’t invent the waterproof watch,
didn’t invent the self-winding rotor, and
wasn’t worn or carried on the Summit of Everest in 1953
Rolex isn’t ‘taxed on profits’ because it gives all of its profit to charity. If it retains profits, then it would pay taxes. Private companies cannot withhold their accounts from the Revenue.
I saw what you did there at 12:26 in the cut scene.. Exactly And thank you for teaching me a new phrase "veblen goods"; though I was quite familiar with the concept.
good to know this, i always wondered why they are so expensive 👍👍
James Bond doesn’t wear a Rolex, he wears an Omega
He literally wears a submariner in the first ever Bond film. He even wears a Seiko at one point. It's only the modern (90's) Bond who's the Omega Bond
Bond most assuredly wore Rolex before their demands to the producers became outrageous.
Seriously this video deserves more likes, I mean look at the editing done In this..... :D
thx so much man - i learnt a lot!
Your lesson is so good I felt illegal to know these lol
I am a watchmaker and Rolex are excellent quality. Can’t go wrong. I treat my Rolex like I would treat a customers Rolex. My Rolex keeps time at a second and half a day. Rolex are very easy to work on. Love mine.
Very well made interesting video, thank you!
7:13 BEST QUOTE EVER!!¡
See they say they don’t want to be looked at like a “discount brand” but 8 years ago you could walk into an Authorized Rolex dealer and you could find a display case full of Submariners and they would offer them to you at thousands less than retail price. They used Cov1d to their advantage and now control their own stock and make you sit on a waiting list for years before they let you buy one. Youre better off buying one on the secondary market for a little more instead of waiting 3 years for a simple sub.
Just like Rolex, your video is a piece of art.
Very interesting! Thanks for sharing.
Always nice to ear you, great video.
I love the editing 🔥❤️
little did hans know. he was in fact right for a time... until the creation of phones which basically became digital pocketwatches as well as so many other tools...
Steve Jobs and Hans had a lot in common. Master marketers
editing on POINT!
Another great video.
Honestly a Great youtube channel
Ayyy another upload keep the good videos up john
I hate that Rolex is manipulating the market by making people wait, this really makes me think that Rolex don't really care about the watch enthusiast, but just the wealthy influencers celebrities etc. If I will be looking for a Rolex non of the latest ones attract me, in fact the only one I would pick from their modern catalog is the 36mm explorer. all the ones that I'm interested in are the 5 digit explorer II, classic Airking etc...
5:22 Ahh yes Hanz definitely gave Jackie Stewart a Rolex in the 1920s despite being born in 1939.
Cool man!1 THANKS FOR THE INFORMATIVE VIDEO!! I personally love a cool and nice watch on my wrist.
very well done video
Magnates media is one of the best channels in CZcams for learning. The amount of time and effort they put in their videos is simple Amazing ❤
The music the mystery the conspiracy...This is hilarious 😂.
Magnates Media: How addictive do you want my content to be?
Me: YES
Your videos made CZcams my Netflix 😍
I am addicted to your content.
Hey bro love your content please ad subtitles also thank you :)
Has anyone else noticed how the narrator's voice always drops to a lower pitch at the end of a sentence? Wish I never had, it's all my ear tunes into now
fascinating
Nice video and well executed
12:55 i agree. If you want a better watch get an omega for half the price
Less than half I would say.
I absolutely adore the script, production, effort, everything about the channel!
I do however would ask you to tone down the sybilants, I notice you are quite sharp especially on words ending with s/sh/ts and that is quite harsh on the ear. You could perhaps tone down from the EQ or adjust your voiceover narrating skills.
Looking forward to hearing the improved version!
Thanks for a much better editing job on this video. I have a hard time watching some of the ones with bunch of unrelated film clips (Leonardo and other movies etc.) since it is so distracting with manic pace. It force me to listen instead of watching. Please keep this more focused and slower pace format with more related clips and avoid fast music video style with a new transition every second. Thanks for a great , hard work!
Decent, thanks for sharing . :)
Why can they continue to sell at high prices? Because people haz teh dumb, that's why. What is pretty much a machine-made watch that costs under $1000 to make sells for 10k when an arguably better quality watch from the likes of Omega or Longines is half to a third of that price. Rolex is up there with Red Bull in marketing hype, there are many similarities between the two companies with the major difference being Ro0lex were smart enough to pull the "foundation" trick and trust me, bugger all goes to charity.
Sick video but that is not a rapper from NY, his name is Ambush and he is from London.
Was looking for this comment. Ridiculous lol. At least add meek in or something
There's a shop on burlington arcade and they sell vintage rolexs and other watches but I now see that it's just old stock but as well if a normal rolex costs 6k the one in the burlington arcade will cost you easily 12k. Honestly I would pay extra as it seems more prestigious to have a watch from the 1970s as not everyone can get it
New sub. I've been watching different companies and how they got started. .Very interesting and I love your channel. Nice to know history of products we use and some we'd like to have (luxury)...Thank u.❤💥🇺🇸
Gracias
My best friends Dad(RIP) was a classic car and watch collector and he told me that Rolex watches are the most counterfeit watch and about 90% of the time when he would entertain buying a Rolex, it was fake lol
Cool Video
♥️
Amazing video!
^^Do So Now^ got something to introduce you to
Watching this while looking at my Submarine makes you appreciate it more
God damn bro ! You’re the legend! Such an amazing video and clearly you put so much into it just like Rolex ey !
The best channel to watch
Hi I really like your channel please keep uploading
Dude said I can't message you why lol
Very useful video
Definitely deserved the reputation
Amazing
initiation bands that also tell time
I learnt a new term for exclusive brands , good stuff please do 1 on Ferrari since they operate in the same manner as Rolex
I love how you put up information bro.
Your storyline is always on top of the line. Looking forward to see you dominate this platform with your content cause the way you put stuff together is way too different and unique.
I don't regret watching you very first video. It Jhus made me love your channel.
Big ups John
Thank you again