26 May 2015

Gold Apple Watch for $17000 or What?

MacRumors reports that the gold Apple Watch has started shipping today and customers are noticing charges of around $17,000 appear on their credit cards. Some “lucky” customers will receive their watches as soon as tomorrow. Now this post is not about what you are getting for your money, but merely are you getting value? The actual gold value in the 18k gold watch, according to some experts is around $850 at today’s gold price. The rest of the price, I would guess is going towards amazing Apple technology and a whole lot of hype.

Is it any different buying a luxury timepiece for tens of thousands of dollars? Last week we published a piece on Patek Philippe and some of their watches selling for millions. One might opine that these are Swiss master watchmakers with hundreds of years in history and hand worked movements with luxury leather, beautiful gold and stunning diamonds to drive those prices. In addition there are collectors, museums and a genuine, tried and tested aftermarket value to these magnificent timepieces. On the flip side today’s Apple investor may say exactly the same forces are driving the Apple price. These are sign of the times , 21st century technology of the highest order and in many peoples eyes beautiful timepieces. The one real probability is that within a week, month or year at longest this technology will be surpassed. Will this diminish the value of this very expensive piece of technology? Only time will tell.

A list appears on social media as to what one could buy with this same $17,000 today and the list includes a car, life size Darth Vader statues, private pop concerts and 17 years worth of cell phone bills.

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I would offer a different list. How about 2 Rolex 50th Anniversary Submariner watches or a choice of Patek Philippe watches. These beauties have already stood the test of time, and what was state of the art timepiece technology 100 years ago, is still considered the best money can buy today. Have a look at our selection here and YOU decide which watch you would buy if you had to spend $17,000. I’m sure you can guess which way I am leaning towards.#2-1