Luke Benedictus
Off the top of your head, what’s your mental picture of a Rolex owner? Some cigar-chomping big-shot in an oak-panelled office? A thrusting young professional who delights in his watch as a conspicuous status-signifier? Or simply a lover of fine watches who appreciates the formidable consistency and build quality of the Crown?
The reason I ask is that, while rootling around the dusty corners of the Internet, I recently came across a study that purports to reveal the identity of the average Rolex owner. Homeprotect is a British insurance company and claims that, of all the items it’s asked to insure, Rolex is the brand name that crops up the most regularly. As a result, they decided to crunch their data to get a clearer idea of how this demographic breaks down.
The company found that Rolex owners in the UK were far more likely to live in the south of England – a fact that corresponds with Britain’s long-established division of wealth. Equally predictable was Homeprotect’s finding that male owners outnumbered women almost two to one.
But what did raise eyebrows was the reported age of these men. Homeprotect revealed that the average Rolex owner was a 68-year-old man and that a mere 1.5% of this market was under the age of 35.
Two disclaimers: firstly this study was conducted five years ago in 2017. Secondly, it should also be noted that these results were no doubt skewed by the fact that this survey was based on people who had insured their Rolex. Getting a luxury watch insured may indeed be a sensible move, but not everyone does it, in fact, in a recent editorial meeting at T+T – where the assembled staffers were variously aged in their 20s, 30s and 40s – not a single person had watch insurance. Given their sample group, it’s probably understandable if Homeprotect’s demographic turned out to be older.
Except that, the Rolex owners were notably older than those of other watch brands, too. When, for example, Homeprotect did another survey looking at Omega, the owners were considerably more youthful. Indeed, Homeprotect found the average age of their Omega owners was 44 – some 24 years younger than Rolex.
Perhaps we shouldn’t be surprised if Rolex owners are a bit longer in the tooth. Older people would, after all, have been in a far better position to buy a Rolex back when the watches were accessible at retail – compared to the current scenario where demand vastly outstrips supply. This is a well-acknowledged truth as shown by the dramatic mark-ups on the secondary market. The Rolex GMT-Master II left-hander, for example, was released this year for $15,500 AUD, but of the 100 pieces currently available to purchase on Chrono 24, the cheapest is $43,647.
Yet 68-years-old is a significant milestone nonetheless, because according to the Pew Research Center’s Social & Demographic Trends survey, this specific birthday is widely perceived to signal the beginning of old age. Going by this survey therefore, Rolex is officially an old man’s watch.
The received wisdom is that young people are meant to recoil from the tastes of the older generation. Rather than aspire towards “sensible shoes” or slacks with elasticated waistbands, they’re supposed to hanker for something more dynamic, exciting and contemporary. But that’s not the case with Rolex. Many of their owners may be grey-haired retirees, but that’s donenothing to dull the appeal of what remains the single most lusted-after watch brand on the planet.
FAQs
Our study showed that the average age of the average Rolex owner is 68, with male owners outnumbering women almost two to one. Their numbers are overwhelming. 66% of the people in our survey are aged over 65 and only 1.5% under the age of 35.
What type of person owns a Rolex? ›
Freedom Seekers – To the Rolex enthusiast, there is usually nothing they crave more than freedom. There is nothing that drives them battier than living someone else's dreams. Supreme Focus – The Rolex wearer tends to be extremely focused on a task at hand or long-term goal.
What percentage of Americans own a Rolex? ›
All in all, 23% of watches users in the United States use Rolex. That means, of the 87% who know the brand, 26% use them. How loyal are the owners of Rolex? Around 18% of watches users in the United States say they are likely to use Rolex again.
How rich do you have to be to own a Rolex? ›
For many, the initial investment will be significant because the entry point to Rolex ownership starts at a few thousand dollars minimum. However, as mentioned above, Rolex watches almost always hold their value. The odds of them appreciating are also very high, given the right conditions.
Who is the real owner of Rolex? ›
While ownership belongs to the Hans Wilsdorf Foundation, operational leadership at Rolex resides with its executives based in Geneva. Heading the luxury watchmaker as CEO is industry veteran Jean-Frédéric Dufour, appointed to the post in 2015.
How much does an average Rolex go for? ›
Typically, this entry-level Rolex watch will cost between $5,000 to $8,000, depending on the reference's unique features and the overall condition of the watch. Other factors, like if it comes with the original box and papers, may also impact the cost of the timepiece.
Why do men wear Rolex? ›
Rolex watches are tough
Rolex watches are known to be exceptionally durable. For instance the Rolex Explorer was created with special lubricants in the movement so that it could withstand extreme changes in temperature.
What is Rolex brand identity? ›
Finally, the Rolex logo represents the brand's dedication to quality, precision, and luxury. The five-pointed crown symbolizes the brand's excellence and superiority in watchmaking, while the green color represents the brand's connection to nature and the environment.
Who are the main customers of Rolex? ›
The target market of Rolex is affluent individuals and collectors who appreciate the brand's prestige, craftsmanship, and luxury. The company caters to a wide variety of customers, including business professionals, celebrities, athletes, fashion icons, watch enthusiasts, and more.
What is the target market age for Rolex? ›
High-net-worth individuals. The demographic profile of Rolex's customers is shifting. In recent years, there has been a notable increase in the number of younger, well-off individuals purchasing Rolex watches. On average, luxury watch consumers are around 40-50 years old.
If you want to sell your Rolex, it will need to be verified that it is, in fact, an original, Swiss-manufactured luxury timepiece. If you've bought the watch yourself from a certified dealer, you can rest assured that you have an original Rolex in your hands.
Is Rolex 100% in house? ›
Rolex owns and operates its foundry that produces all of the gold, platinum, and stainless steel alloys that are used in its watches. This ensures that the materials on the outside of the watch that are constantly exposed to the elements are only of the highest levels of quality and durability.
What is the average age of a Rolex owner? ›
Homeprotect revealed that the average Rolex owner was a 68-year-old man and that a mere 1.5% of this market was under the age of 35.
How much is the cheapest Rolex? ›
The most affordable Rolex watches are the Rolex Oyster Perpetual and the Rolex Milgauss. Both of these models are entry-level models and come with a price tag of around $6,400. These models have been around for a while, with the Oyster Perpetual dating back decades.
Is a Rolex really worth the money? ›
That said when asking, “Are Rolexes a good investment,” the answer is yes, but that answer does come with a caveat. Not all Rolex watches are the same. Some are better investments than others, and some Rolex watches hold their value over time better than others.
What are the demographics of Rolex? ›
rolex.com's audience is 65.53% male and 34.47% female. The largest age group of visitors are 25 - 34 year olds.
How many people buy Rolex? ›
Every one of the approximately one million watches that Rolex produces every year is sold.
