Editor’s note: Thrilled to present to you our highly anticipated column, led by none other than Canadian media industry veteran and award winning journalist, Shane Schick. The former editor-in-chief of Marketing magazine, fashion, technology and features writer, that goes the extra mile for the story. Currently at the helm of his very own, 360 magazine.
Today, Shane Schick is poised to explore only the best of the world’s brands for this new monthly Gent’s Post column, that truly embody being defined as a status symbol. This month, we kick off Status symbols breaking down all the intricacies that make Rolex what it is today. #StatusSymbols
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Dan Tanenbaum had been so sure his wife was pregnant with twin girls. When she delivered two sons instead, however, he knew exactly what he would do next: find a pair of classic luxury watches to give them on their 21st birthdays. And one of them, he decided, would be a very particular vintage Rolex.
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If anyone understands the value of Rolex and what makes it a status symbol, it’s Tanenbaum. A Toronto-based businessman-turned artist, he’s not only a watch collector but creates sculptures by encrusting Air Jordans, toys and other objects with vintage watch parts. That means he can appreciate a wide variety of timepieces, even if he recognizes the prestige that a Rolex Submariner continues to convey.
“I hate that I love Rolex the way I do,” he says with a laugh. “I don’t like going out for lunch and see that everyone is wearing a Submariner. It’s almost too easy. But I can respect it. I really think everything about the Submariner is perfection, on so many levels.”
A crown for every achievement
Tanenbaum is hardly alone. Since its inception in 1910 by founder, Hans Wilsdorf, Rolex has achieved one milestone after another, from the first waterproof wristwatch in 1926 to the self-winding Perpetual rotor a few years later. More recently, Rolex’s focus on performance, power and precision timing has been codified in its in-house Superlative Chronometer certification.
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The results of these efforts have made Rolex not only an instantly recognizable name, but a favourite of celebrities ranging from Robert Redford to David Beckham. According to Tanenbaum, however, the source of Rolex’s popularity can be largely attributed to the world’s best-known secret agent.
“The brand was really elevated by James Bond,” he says, referencing the Submariner Reference 6538 worn by Sean Connery in 1962’s Dr. No. “That was a turning point. Now it’s an aspirational brand – you get one after you land your first job, or someone might give it as a wedding gift. And people can take a watch like that through their entire life.”
In fact, Tanenbaum’s quest following the birth of his boys led him to a fellow collector who had a Submariner 6538 locked in a safety deposit box. After some wooing, he not only convinced the owner to part with the watch but write a letter to his son capturing its provenance. It’s too long to reprint in full, but the last paragraph approaches poetry: “God winds our hearts but once – just how tightly is his secret. I hope you spend your time wisely and that your deeds carry both you and the lives you touch to great and wonderful places.”)
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Where the iconic meets the unexpected
This is just one example of the lengths people go to acquire a Rolex. A more controversial case came up when police raided the residence of Peruvian president Dina Boluarte in search of Rolex watches that allegedly cost far more than her salary.
Another testament to Rolex’s success is its relative ambivalence to the digital revolution. Rolex.org only launched in 2018, and the brand’s focus has been largely on enhancing the way it can showcase its watches in brick-and-mortar settings. Last year, for instance, Rolex acquired Bucherer AG, one of the most rarified luxury watch retailers in the world.
Closer to home, late last year Rolex opened an immersive, 2,250 square foot boutique in Toronto’s Yorkville neighbourhood with Royal de Versailles Jewellers (following one of the largest in North America opening in Vancouver in 2016). With an exterior built from digitally fabricated limestones whose columns are intended to recall the patterns of a watch’s band links, the boutique offers custom displays for both personal and private shopping.
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If you decide to spring for a Rolex, it’s not necessarily hard to maintain its value. Tanenbaum recommends simply ensuing it gets serviced regularly, making sure that key parts like the hands or the bezel aren’t replaced. There’s also no need to “ice out” a Rolex by adding diamonds to it, he argues. And don’t throw out the papers that come with the watch, which can provide important details you may need.
When you truly love a timepiece, it shows. Maybe one aspect of the Rolex’s staying power is that its eye-catching design not only impresses other people, but makes you want to become a collector yourself.
Unlike a smartwatch, which is really just another digital device, a luxury wristwatch is based on the kind of craftsmanship that turns an everyday possession into an heirloom. For people like Tanenbaum, a Rolex reflects the ideal that inspires a desire for more.
“I wish I had more wrists,” he says.
Dan Tanenbaum
