The beast...

[DrLindaPhD]

Originally Posted by T. Ferguson

I'm pretty confident if the seller knows what they have a $10K "DD" with diamond bezel probably wouldn't have the exact same movement.

Only recently did platinum exceed the price of gold which can be sold by us mere folk at about $30 a gram (for the sake of purchasing a watch and determining gold value). Also, I believe platinum is only used in the case, bezel and bracelet of a Rolex, not the movement so I don't know why the movement of a platinum rolex would be better since I don't know if the movement contain platinum parts but I know it contains gold parts. And, with the difference in the price of platinum and gold being so close, I don't see how it warrants such an extravagant price tag but like everyone has said - price will find a buyer.

I do know the platinum rolex watches are worth more than the gold and maybe less are made and that's why these are so expensive.

[SohAIS]

Its a beautiful watch. hope to own one some day.

[wjgoretsky]

Originally Posted by DrLindaPhD

I love my Rolex collection. I own 7 of them and no other watches but 60k is insane for a watch. Any watch. There is a "break even" point as we all learned in economics where cost exceeds all expectations and value. These insane price points separate people who want a quality watch and know they have to pay a quality price from those who have so much money that they actually want to over pay for a watch. Why is that watch worth 60k over any other DD with diamond markers? Seriously. Who sets these prices and who are the people who pay these prices? These huge gaps in price ranges also forces artificial pricing on resale of these watches. If you can buy a quality DD for $10,000 and they also sell them for $60,000, the average becomes $35,000 which is also inflated.

This reminds me of a recent purchase on ebay. You'll love the analogy. My daughter and I babysit our friend's 2 year old daughter and she loves Teletubbies. I wanted to find an original set of the small beanie Teletubbies (about 5 inches). They were originally made in 1993. I found a complete set of all 4 with tags still on them from 1993 (new but never used) for $9.99 and that included shipping. Another person was selling the exact same, new and unused set for $300. This $60k Rolex reminds me of that transaction. You can find that same DD Rolex and throw in a diamond bezel for less than $10,000. Probably will have the same exact movement, warranty, and quality.

I'm in Calgary, Alberta, where oil money creates new found wealth in people who are looking for a way to display their fortune. This store sold 2 of these exact platinum watches over the last few weeks. One was the 36mm with diamond markers and the other was the 41mm with Roman numerals.
Some people buy a tricked out Ford SuperDuty v12 turbo cummins diesel truck to haul their quads and snow mobiles around. Others buy watches.
Where there is a "market" there are people who will buy.
Rationality plays no factor in this market.
That's why the average home price here is upwards of 500K.

W