Why do you think Rolex is a status symbol?

[masterserg]

It is not a status symbol. The only thing it symbolizes (besides taste) is that you gave a few bucks to another person or business.

[Mickey®]

I agree with the poster that said noone notices his Patek.
A status symbol has to be "Recognized" or it isn't a status symbol.

Rolex is recognized due to quality, hype, marketing..."fill in your own word" but that is why it gets noticed and gives STATUS.

Not saying it's right or wrong...just my 2cents.

[ArcticMoose]

Originally Posted by masterserg

It is not a status symbol. The only thing it symbolizes (besides taste) is that you gave a few bucks to another person or business.

A status symbol is a perceived visible, external denotation of one's social position and perceived indicator of economic or social status.
http://en.wikipedia.org/wiki/Status_symbol

How is a Rolex not an external denotation of economic status? Calling $8000+ "a few bucks" is a hard kick to the groin of quite a few people, you need to get out more.

[Tunacan26]

Originally Posted by capote

One word: Marketing

x2

Make that, "great" marketing....

[chronoman]

Originally Posted by ArcticMoose

How is a Rolex not an external denotation of economic status?

Simple, i wear it and nobody notices.
I think there should be intent in there, i.e
Do you wear it to be noticed?
I do not. I just appreciate kinetic art.

i suppose there's status percieved as well. But i can't account for how someone else thinks.

[handsfull]

Originally Posted by ArcticMoose

A status symbol is a perceived visible, external denotation of one's social position and perceived indicator of economic or social status.
http://en.wikipedia.org/wiki/Status_symbol

How is a Rolex not an external denotation of economic status? Calling $8000+ "a few bucks" is a hard kick to the groin of quite a few people, you need to get out more.

Anyone who reads the definition and DOESN'T believe a Rolex watch fits..... might be out of touch with reality!

[eric23]

Originally Posted by rossi46

Some of you really need to pick up a newspaper. "Most people" are either: tens of thousands of dollars underwater on their mortgage, have tens of thousands of dollars in credit card/student debt, or are working extra hours/a second job just to pay the bills.

There is some serious cognitive bias going on this this thread...

As I said before it is all in how you save your money, I could have got a Rolex in high school from working at Mc Donald’s part time, if I did not blow all my money on partying and girls.

4 years of working part time putting $100 bucks away a week (that is over 20K in the 4 years). That would have paid for a nice watch!

[masterserg]

Originally Posted by ArcticMoose

A status symbol is a perceived visible, external denotation of one's social position and perceived indicator of economic or social status.
http://en.wikipedia.org/wiki/Status_symbol

How is a Rolex not an external denotation of economic status? Calling $8000+ "a few bucks" is a hard kick to the groin of quite a few people, you need to get out more.

Right, so you never heard of debt? Of people taking up credit, making 540 payments, or simply not going out in order to buy a watch (or whatever they fancy)?

A watch or any other "external denotation" does not indicate much about actual economic status. More than we'd like to admit, people bankroll lifestyles beyond their means through debt.

As I said, the only thing it indicates is the amount of money that left your account and went into somebody else's (or debt you keep on piling up), improving the economic status of the seller in the process ... now, if that offends your sensibilities, well ...

Oh, and by the way ... spare me the "you need to get out more" routine.

[Beelzy]

Well schucks!.......Here all this time I thought a Rolex was a Phallic symbol. LOL!!!

[Onikage]

This is getting interesting. Fair points people.

[Welshwatchman]

Originally Posted by Mickey®

Not saying it's right or wrong...just my 2cents.

Shouldn't that be 50 cents ?

[StarSovereign]

Um...simple: They cost a lot of money and people KNOW they cost a lot of money...

[eric23]

Originally Posted by Welshwatchman

Shouldn't that be 50 cents ?

[handsfull]

LOL....many people are taking this personally.

This isn't a debate of how can we afford our watches and why the country is in debt because of bad spending/saving habits.

The question is....is Rolex a 'status symbol'. By merriam/websters definition, that is a very loud 'YES'.

Whether or not its your 'intent' to wear it so others can see it or not, OR whether 'some' people (haven't ran into a person who doesnt know yet!) don't even know what it is....is irrelevant....and makes absolutely zero impact on what the definition of a status symbol is.

[Mickey®]

Originally Posted by Welshwatchman

Shouldn't that be 50 cents ?

Fiddy Cent!

[ArcticMoose]

Originally Posted by chronoman

Simple, i wear it and nobody notices.
I think there should be intent in there, i.e

Just because you do not use it as one does not mean that it is not a status symbol in most eyes.

There a plenty of pure enthusiasts who enjoy the history, engineering and ability of a Porsche or Lamborghini as well, but you cannot say with a straight face that they are not seen as status symbols.

Originally Posted by chronoman

Do you wear it to be noticed?

Not usually, but I'll admit it has happened that I have chosen something recognizable when planning to visit a car dealership. Since I tend to look like a homeless drunk I have found it quite helpful.

Originally Posted by chronoman

I just appreciate kinetic art.

As do I. And probably even a majority of the TRF members. However, we are in a very small minority as far as Rolex buyers are concerned.

I'm sure you've seen the story here about the manager who told an employee (who was wearing a DRSD) "that's a cool watch, if you work hard maybe someday you'll be able to afford a nice new one, like mine".

I just image-google "status symbol". Mercedes didn't show up until number 21, number 11 is a private jet, Louis Vuitton made it to number 7, number 3 is a comic about Montblanc. And, you guessed it, first place goes to Rolex.

The second sentence on Wikipedia's Rolex page starts "Rolex watches are popularly regarded as status symbols". There are four references to back it up, from CNN, TIME, New York Times and The Guardian.

Even disregarding all this, could you please explain the huge market for fakes? Why would anyone with an appreciation of mechanical timepieces wear a terrible tinny piece of crap built to look like a Rolex, instead of one of the many very nice brands priced similarly to the Rolex fakes?

Originally Posted by masterserg

Right, so you never heard of debt?

Of course I have.

Originally Posted by masterserg

A watch or any other "external denotation" does not indicate much about actual economic status. More than we'd like to admit, people bankroll lifestyles beyond their means through debt.

You know that. I know that.

But why do you think anyone would bury themselves in it to buy a watch? Or a shirt with a particular logo on it that costs ten times more than a very similar one without it? Or why Mercedes can sell a lesser-equipped car with a lower quality feel for twice as much as similar Toyota?

Originally Posted by masterserg

Oh, and by the way ... spare me the "you need to get out more" routine.

Too late for that, I'm afraid.

[masterserg]

Originally Posted by ArcticMoose

Just because you do not use it as one does not mean that it is not a status symbol in most eyes.

There a plenty of pure enthusiasts who enjoy the history, engineering and ability of a Porsche or Lamborghini as well, but you cannot say with a straight face that they are not seen as status symbols.



Not usually, but I'll admit it has happened that I have chosen something recognizable when planning to visit a car dealership. Since I tend to look like a homeless drunk I have found it quite helpful.



As do I. And probably even a majority of the TRF members. However, we are in a very small minority as far as Rolex buyers are concerned.

I'm sure you've seen the story here about the manager who told an employee (who was wearing a DRSD) "that's a cool watch, if you work hard maybe someday you'll be able to afford a nice new one, like mine".

I just image-google "status symbol". Mercedes didn't show up until number 21, number 11 is a private jet, Louis Vuitton made it to number 7, number 3 is a comic about Montblanc. And, you guessed it, first place goes to Rolex.

The second sentence on Wikipedia's Rolex page starts "Rolex watches are popularly regarded as status symbols". There are four references to back it up, from CNN, TIME, New York Times and The Guardian.

Even disregarding all this, could you please explain the huge market for fakes? Why would anyone with an appreciation of mechanical timepieces wear a terrible tinny piece of crap built to look like a Rolex, instead of one of the many very nice brands priced similarly to the Rolex fakes?



Of course I have.



You know that. I know that.

But why do you think anyone would bury themselves in it to buy a watch? Or a shirt with a particular logo on it that costs ten times more than a very similar one without it? Or why Mercedes can sell a lesser-equipped car with a lower quality feel for twice as much as similar Toyota?



Too late for that, I'm afraid.

Good answers. I guess PERCEIVED is the key word here ... Peace

[Wehtiko]

Originally Posted by Jimbits76

It aint a status symbol in my house. My wife still thinks I'm a moron!

J

Gee, at least you had to get a watch for your wife to consider you a moron...

[ArcticMoose]

Originally Posted by masterserg

Good answers. I guess PERCEIVED is the key word here ... Peace

Aw, I had set aside important things for a nice evening of online confrontation.

(Speaking of which, could someone with an iPhone 4S try asking Siri to "please argue on the internet so I don't have to"?)

[gargamel647]

Bond. James Bond

[vmm]

We may not think of them as status symbols, but in my mind they clearly are. Watches that cost from 5-25k, are recognizable and often regarded in the same vein as cars such as Porsche. There's no question that there are 500k watches out there and most people would have no clue. True, as a WIS on this board, most would consider their love of Rolex as an appreciation of the history, workmanship, and innovation. We would not consider them status symbols, though the great majority of the people out there would. It's a sign that you've made it (or have a lot of credit card debt ). This reminds of a conversation I've seen on both the M3 forum and 6speed online (I would think at least a few on here probably frequent those boards). The discussions centered on whether or the cars were exotic. People for the most part stated that their cars were not and that that was part of the reason they had stayed away from Lambo or Ferrari land. Interesting parallels.

[Megalobyte]

It's pretty simple to me. 

If any object can be said to be a status symbol, it has to be, a nice/expensive house, car/boat/plane, and yes, an expensive watch or jewelry. There are others too, like a $90,000 Hermes purse, but I'd say these are the major status symbols, an expensive watch is certainly one of the commonly looked at "status symbols", like it or not. Maybe it shouldn't be, maybe there shouldn't be status symbols, but the reality is, there are. 

So, if we agree that a high end, expensive watch is indeed a status symbol, then it follows Rolex is perhaps THE best example! Simply because despite what we as WIS know, that Rolex is entry level in terms of cost, a Rolex, because of terrific marketing, is THE most recognizable expensive watch. The layman, which really is most people, instantly sees "expensive", when they see a Rolex, they likely have little idea what it actually costs, only that it's a lot. It's ironic that they have it bass ackwards, they think it costs a fortune, and isn't a quality watch, when in fact, they're relatively inexpensive, and are outstanding watches. 

Show a Rolex and a Patek to a non WIS, ie. 99% of the world, and the Rolex will be seen as the expensive/impressive watch, a Patek Nautilus for example, will tend to be unimpressive and overlooked, so, if a watch can impart status to its wearer, which do you think it will be? It matters little whether you personally agree with the notion of status symbols, they do exist, like it or not. A watch nobody knows is expensive isn't going to really be a status symbol. 

So, right or wrong, despite many higher end watches worth 20 times what a Rolex is, worn out there for all to see, it's the Rolex that is most easily identified as the "expensive watch", which if you're shallow enough, might impress you. :)

If you were in a very high brow club, where nice watches abound, and the typical member knows a Rolex from a Patek, a Rolex would perhaps be a negative status symbol, as those people might know they're relatively cheap compared to PP, AP, etc. 

But 99% of the time you're around people who associate a Rolex with money, wealth, and some I suppose would perceive and assume a certain status/wealth of its owner, whereas a Patek Nautilus, at over twice the price of a Daytona won't impress anyone, outside a select few. Therefore, if we agree expensive watches, right or wrong can be status symbols, Rolex is certainly one of, if not THE best, of them. 

[LightOnAHill]

Originally Posted by feras

I think Rolex is a symbol or an indicator for success. Imo I believe that it's a reward and not a purchase, a reward for a success story you've been through financially or at any other life aspects

Agree!

[sherwin]

Originally Posted by Megalobyte

...If you were in a very high brow club, where nice watches abound, and the typical member knows a Rolex from a Patek, a Rolex would perhaps be a negative status symbol, as those people might know they're relatively cheap compared to PP, AP, etc. ... 

And where do you stop comparing? Like it or not, there is always someone else with the bigger/better <insert item here/>.

[nowzen]

Of course it's a status symbol...
to everybody except the astute watch connoisseurs on TRF.

[andrew79]

it is status symbol for ignorant people... not for us here...

[kkwn98]

Originally Posted by andrew79

it is status symbol for ignorant people... not for us here...

Why? What is wrong with it being viewed as a status symbol, whether by "us" or "them"?

[CH69]

It is brand image.

Rolex achieve it status as a benchmark of success because of it's brand image amongst the "fine watch" class ranks it higher than the common known branded watch such as Tag or Omega etc (sorry) and although it may be below brands such as AP, PP etc in terms of class.....these brands are really not that commonly known to pple having no interest in watches, so thus rolex is establish as "the crown for every achievement".

Whether is it marketing, pricing, history, quality etc that achieve this brand image, is debatable...

[ExpII]

My brother thinks I'm nuts for spending more than a couple of hundred bucks on a watch. Some folks at work think I make too much $$$.

I just like the watch, the fine details, the history and all that jazz. More importantly, I don't give a $hit what other people think. I'm like the WIS equivalent of the Honey Badger.

http://www.youtube.com/watch?v=4r7wHMg5Yjg

[handsfull]

Originally Posted by vmm

The discussions centered on whether or the cars were exotic. People for the most part stated that their cars were not and that that was part of the reason they had stayed away from Lambo or Ferrari land. Interesting parallels.

I'd say this is an example of the vast disconnect between the have's and the have-not's. What many people strongly 'believe' to be true and what is reality are two different things. Being engrossed in a certain culture, or simply being rich/affluent allows you to apply the optional blinders to reality.