Rolex watches are some of the most sought-after timepieces in the world. Last year, a vintage Rolex Daytona worn by Paul Newman was sold at auction for $17.8 million. Cara Barrett, editor at Hodinkee, fills us in on why Rolex’s are so pricey.
Rolex SA (/ˈroʊlɛks/) is a British-founded Swiss watch designer and manufacturer based in Geneva, Switzerland.
Founded in 1905 as Wilsdorf and Davis by Hans Wilsdorf and Alfred Davis in London, England, the company registered the word Rolex as the brand name of its watches in 1908, and it became Rolex Watch Co. Ltd. in 1915.
After World War I, the company moved its base of operations to Geneva because of the unfavorable economy in the United Kingdom. In 1920, Hans Wilsdorf registered Montres Rolex SA in Geneva as the new company name (montre is French for a watch (timepiece)); it later became Rolex SA. Since 1960, the company has been owned by the Hans Wilsdorf Foundation, a private family trust.
