bruce wegmann wrote: It's like people paying stupid money for modern Harley-David motorcycles; still the roaring, clanking monstrosities they were in the 1920s
Actually Rolex is far worse. The engines and cases are bsially the same as 35 or more years ago.
The HD has been thoroughly redesigned and uses rather modern technology to retain an old bike image while meeting the newest safety- and environmental regulations.
The crux of your response however is spot on. Neither Rolexi nor HDs are bought for the hardware but for the added value of brand and image.
The prices is connected to thóse two and totaly disconected from the physical object.
This is why collectors pay 150$ for a plastic hangtag with Rolex&anchor on it, that fetches 2.50$ with Citizen&seahorse on it.
The letter R-O-L-E-X also turn a 15$ Swiss pocket knife into a 150$ one....