Time: An Expensive Commodity

[Guest fountainhall]

As I occasionally walk amongst the evening street markets on Silom and Sukhumvit, there’s one question that keeps bugging me. Every time I see reports of society ‘dos’ in newspapers and magazines, I wonder why do people – lots of people – shell out vast sums for one consumer luxury that is in reality worth only a tiny fraction of its purchase price? I refer to the clearly not-so-humble wristwatch.

 

I’d love to be the Marketing Director for Rolex. He (or perhaps she) will have a hundred millions dollars or more to spend worldwide each year – not just to market a specific line of watches, but on the overall brand itself. Think about it for a moment. Rolex sponsors the major worldwide yachting events, equestrian events, lots of golf, tennis and motor sports events; it takes out massive worldwide print advertising featuring opera houses and stars ranging from the sporting world and classical music, to Diana Krall and Michael Bublé. The True channels have for months been running trails for the Vienna Philharmonic’s traditional New Year’s concert that is televised around the world – sponsored, naturally, by Rolex.

 

The glitzier Chopard sponsors the Cannes Film Festival and a host of other glamorous and expensive events. Sporty Breitling sponsors a 7 aircraft aerobatic display team. Classical Breguet sponsors the New York Philharmonic . . and so on and so on.

 

All this high-profile marketing comes at huge cost, all of which is added to the price of that little watch on some hi-so’s wrist. Is there any other product whose retail price includes such a huge percentage of marketing dollars? When a very nice-looking regular watch will set you back not much more than US$100, what is the attraction of owning a brand name item that retails at up to US$100,000 or more, yet whose real cost is a mere fraction of that - and which in the case of men is more often than not covered by a hi-so sleeve? I just don’t get it!

 

Or maybe I get some I of it. For if that fabulous marketing spend was kept in the bank, those mega expensive watches would not command their astronomic prices – and then those fakes on Silom would not seem half so attractive.

 

From: The Simpsons

Dr. Nick: [singing while operating on Homer] The kneebone's connected to the... something. The something's connected to the... red thing. The red thing's connected to my wrist watch... Uh oh.

[Bob]

I hate watches (due largely to being fixated on watching the big clocks in the gradeschool classrooms - I was counting off the seconds and minutes until I could get the hell out of there) and only own one today because it was a gift. But I only wear that twice a week when I go to language class (it's a three-hour class and, for some reason, I have this inner need to know when that'll be over!).

 

So, I have no fascination or desire for jewelry of any type let alone watches and I've never understood why anybody would want to own a watch (hell....there are clocks everywhere or one can simply look at his mobile phone if need be) let alone multiple watches. So, whether's it's a real or a fake Rolex, it's all worthless junk to me.

[macaroni21]

Is there any other product whose retail price includes such a huge percentage of marketing dollars?

 

Medical drugs and health supplements. The mark-ups to cover marketing costs are jaw-dropping.

[Guest]

I've never understood why people covet expensive watches. My Japanese branded watch cost about

[Guest xiandarkthorne]

To me a watch is a piece of time-telling machinery. I wear one because I need to know how long I have between appointments but having said that, the very cheap no-name one I got at the night market in is still working perfectly fine even after three years.

[KhorTose]

It is obvious that we are all either cheap bastards, or wise with the wisdom that comes with age. I so get a kick out of my Thai Boy friend and his fascination with brand names. From Gucci and Prada bags to expensive watches. something is not worth having unless everyone knows it cost a lot. Me, I will usually wear my nice looking timex until it falls apart, and then buy a new one. Yes, I have two fancy watches, but both were giving to me as gifts.

[TotallyOz]

I have several nice watches that I NEVER wear. They are not practical for daily use and I don't dress up for a night on the town. When I lived in NYC, I would get off my ass and go to Broadway shows after a nice dinner. We would dress up from time to time. I also went to the Tony Awards several times and a tux was required so I would dress to the max. When I retired about 8 years back, I gave up all my suits and dressy outfits. Now, I don't even think I own a pair of slacks. So, a good watch for me is useless.

 

I do have a Tag that I wear a good deal and a Heart Rate Monitor that I use at the gym. My favorite watch is a Timex Ironman as it takes a licking and keeps on ticking.

[Bob]

My favorite watch is a Timex Ironman as it takes a licking and keeps on ticking.

 

That phrase reminded me of all those horribly annoying TV commercials by John Cameron Swasey (spelling?). Maybe, subliminally, that's one of the reasons why I hate watches.

[Guest fountainhall]

My Japanese branded watch cost about £5 and tells the time quite well.

I guess that was probably about 30 years ago I can't even find a cheap fake for that amount nowadays!

 

Notwithstanding my phone, I find I do need a watch that keeps good time. I guess I became a sort of time junkie with my first job, working in radio for the venerable BBC in London. In the hallowed halls of Broadcasting House, if you asked someone the time and they told you "10:15", that did not mean 15 minutes past the tenth hour. It meant 15 seconds past the tenth minute. It was assumed that everyone knew at least the hour! And time in broadcasting is measured in seconds!

 

I admit I own one expensive watch - a gift from a happy client. It looks classy and I enjoy wearing it. But it is hopeless in Thailand because it has a leather strap. With the heat and humidity here, the leather deteriorates quite rapidly, starts to smell and has to be replaced. Very stupidly, I once waltzed into the brand's store in New York and asked for a new strap. After it was fitted, I was presented with a bill for US$210 plus tax!! I was horrified! Here in Bangkok, I had a fake one fitted for Bt.500.

[Moses]

I can't even find a cheap fake for that amount nowadays!

 

Then you should to visit Silom more often - you can find there watches even for 100 Baht

[Guest fountainhall]

Then you should to visit Silom more often - you can find there watches even for 100 Baht

That cheap? I'll pop over there tonight! I just hope they do not have Hello Kitty on the dial

[Moses]

That cheap? I'll pop over there tonight!

 

You need to ask assistance of some thai boys... I don't know how you look like, but for to get this price customer should be young thai boy or girl

[Guest fountainhall]

Although I have sometimes looked in the mirror and had the confidence not to even bother asking the Cinderella question (a rarity these days, alas), I really doubt if I could pass myself off as a young girl, no matter how much make up I applied. I'd likely end up looking like an older version of Tony Curtis or Lack Lemmon in Some LIke It Hot. Not even a young boy, alas. So I'll just have to tip someone to do it for me

[Guest]

It is obvious that we are all either cheap bastards, or wise with the wisdom that comes with age.

 

Maybe both.

 

Paying through the nose just for a premium brand is pointless, where mass market brands do the job well.

However, in areas where the premium product has a clear & useful performance advantage, it may be worth paying for the premium product.

 

For example, I do not see what advantage there would be in replacing my reliable Japanese watch with a premium one, that still only tells the time.

 

However, a Jaguar car may offer clear advantages in refinement, performance & comfort over a cheap Korean model.

 

So if my bank balance resembled that of Warren Buffet, I may well keep my existing watch, but spend money upgrading to a good car.