Rolex: history, models and value

Founded

1905

Founder(s)

Hans Wilsdorf, Alfred Davis

Headquarters

Geneva

Owner / group

Independent (Hans Wilsdorf Foundation)

Rolex: origins and founding

Rolex did not start in Switzerland. In 1905 the German-born Hans Wilsdorf and Alfred Davis founded the firm Wilsdorf and Davis in London. They imported Swiss movements, many of them from the Aegler factory in Bienne, and fitted them into cases sold under their own name. Wilsdorf registered the name "Rolex" in 1908. After the First World War the company moved to Geneva in 1919, and the business became Rolex SA.

Founders and family

Hans Wilsdorf (1881–1960) was the driving force. He believed early that the wristwatch, not the pocket watch, was the future, and he pushed hard for precision and waterproof cases. After the death of his wife he set up the Hans Wilsdorf Foundation in 1944. When he died in 1960, the foundation took over ownership of Rolex, and it still owns the company today. That is why Rolex has no family heirs or stock market owners.

Rolex history and milestones

• 1926: the Oyster, a waterproof and dustproof case with a screw-down crown and case back.
• 1927: swimmer Mercedes Gleitze wears an Oyster while swimming the English Channel.
• 1931: the Perpetual rotor, a self-winding system that gave the Oyster Perpetual its name.
• 1945: the Datejust, a chronometer with a date that changes automatically.
• 1946: Tudor is set up as a lower-priced sister brand.
• 1953: the Explorer and the Submariner dive watch.
• Mid-1950s: the GMT-Master, made for Pan Am crews.
• 1956: the Day-Date, with day and date shown in full.
• 1963: the Cosmograph Daytona chronograph.
• 2004: Rolex buys the movement maker Aegler.
• 2022: the Rolex Certified Pre-Owned programme starts.
• 2023: Rolex agrees to buy its long-time retailer Bucherer.

Famous Rolex models

Most Rolex watches belong to the Oyster family. The models owners most often have are:

• Oyster Perpetual and Datejust – everyday three-hand watches, the Datejust with the date and magnifying "Cyclops" lens.
• Day-Date – made only in precious metals, often called the "President".
• Submariner – the classic dive watch, with or without date.
• GMT-Master and GMT-Master II – a second time zone with a two-color bezel.
• Cosmograph Daytona – the chronograph; vintage "Paul Newman" dials are famous among collectors.
• Explorer, Sea-Dweller, Yacht-Master and Air-King – sport and tool watches.
• Lady-Datejust and older Rolex models such as the Oysterdate and Precision.

Movements and technique

Rolex is known for robust self-winding movements, the Perpetual rotor and the screw-down Oyster case. The company makes its own movements and many components. Most modern Rolex movements are certified chronometers. Some older Daytonas used outside chronograph movements before Rolex introduced its own. For you as an owner, the key is regular service: a Rolex can run for decades when it is maintained by a qualified watchmaker.

Rolex today

Rolex is based in Geneva and owned by the Hans Wilsdorf Foundation. It is a luxury brand, and according to the figures cited by Wikipedia it produced about 1.24 million watches in 2023. The CEO is Jean-Frédéric Dufour. New watches are sold only through official retailers. Through Rolex Certified Pre-Owned, official retailers can also sell used Rolex watches that are at least two years old, checked and serviced by Rolex and sold with a new two-year guarantee.

Rolex prices on the pre-owned market

Rolex has one of the strongest pre-owned markets of any watch brand. Steel sports models such as the Submariner, GMT-Master and Daytona are the most traded, and many vintage references from the 1950s to the 1980s are collected in their own right. What drives value: the exact reference, original dial and hands, an unpolished case, the correct bracelet, and box and papers. Rare dial variants can multiply the value of a vintage watch, while service replacement parts can lower it for collectors. A record example: Paul Newman's own Rolex Daytona sold at Phillips in New York in 2017 for USD 17.8 million. That is an exception. A typical Datejust or Oyster Perpetual sells for far less, but even ordinary Rolex models usually keep a solid resale value.

How to recognise a genuine Rolex

Rolex is the most copied watch brand, so check carefully. The reference number is engraved on the side of the case at 12 o'clock, between the lugs. On older watches the serial number is between the lugs at 6 o'clock. From 2005 Rolex also engraved the serial on the rehaut (the inner ring around the dial), and from about 2008 it appears only there. Engravings should be crisp and clean. Check the date magnification, the smooth sweep of the seconds hand, the weight of the watch and that the reference, serial and papers match. Also watch for "franken" watches built from genuine and aftermarket parts, and for redialed vintage pieces. More tips in our guide on how to spot a fake watch.

What is your Rolex worth?

The fastest way to a first idea: photograph the dial, the side of the case and any papers, and request a free watch value estimate. For estates, insurance or legal matters you can order a written watch appraisal with a signed valuation.

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