RolexRate:
Rolex
Tags: Rolex, Watches, History, Horology
Rolex is a luxury Swiss Watchmaker based in Geneva, Switzerland. It was founded in 1905 in London by Hans Wisldorf and his brother-in-law Alfred Davis.
In 1908, they registered the brand name "Rolex"
After World War I, the company moved to Geneva because the economic conditions in England were unfavorable.
Key Milestones in History
- 1905: Wilsdorf and Davis were established in London.
- 1908: "Rolex" brand name registered.
- 1926: Rolex introduced the "Oyster" case - the first reliable waterproof and dust-proof wristwatch case.
- 1931: Rolex patented the "Perpetual rotor" self-winding mechanism - meaning the watch could wind itself from the wearer's movement.
- 1960s onwards: Rolex kept improving materials, in-house production of parts, and establishing its reputation worldwide.
What makes Rolex watches special?
- High-Quality Materials: For example, Rolex uses a steel type called 904L, which resists corrosion better than many other steels used in watches.
- Precision and Innovation: They were among the first to produce wristwatches that were waterproof, self-winding, and accurate.
- Brand prestige and exclusivity: Because of how they control production and distribution, owning a Rolex is viewed as a status symbol.
Notable Rolex Models
Here are some of the well-known lines of Rolex watches:
- Oyster Perpetual: The basic classic Rolex line, inheriting the name of the original waterproof case.
- Professional collections: Watches made for specific activities like diving (e.g., Submariner), exploring (Explorer), aviation (GMT-Master), etc.
- Dress watches: More elegant pieces with precious materials and refined designs (less rugged than the “Professional” line).
Achievements & Cultural Impact
- Rolex watches have been used in extreme conditions: deep-sea expeditions, aviation, and mountain climbing.
- They are widely recognised around the world as symbols of success, quality, and luxury.
- Some rare Rolex models have fetched very high prices at auctions. For example, one model from 1968 sold for nearly US $18 million.
Ownership & Structure
- Since 1960, Rolex has been owned by the Hans Wilsdorf Foundation, a charitable trust.
- Because it’s privately owned, Rolex keeps many of its financial details secret, unlike publicly traded companies.
Author: Mikhail