ξ Price of a Rolex?

If they say that a Rolex almost requires a year of labor before its finished assembly, wouldn’t that mean its absolute minimum price for labor (assuming 8-hour, 5-day, 40-week years) may be about ξ1600?  It of course wouldn’t cost this little amount considering that the skills of a watchmaker are particularly rare, you could certainly triple this price before you get close to the value of a Rolex. We’re probably looking at about ξ4800 at a low-end Rolex.  If you were to translate that into the inflation-prone dollar, and PayScale says a watchmaker makes on average about $18/hour, we’re finding that the minimum cost of a Rolex is around $86,400 at this skill rate (3 × wall time).

My mind boggles at how much work/value that represents for a luxury good. 🙂

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