While most luxury wristwatches do not differ much in size, their prices can vary widely, writes Jacob Gallagher for The Wall Street Journal.
For instance, while a stainless steel Rolex Submariner costs $7,900, a pink gold Roger Dubuis Excalibur has a hefty price tag of $76,000.
There are many factors that go into determining the price of a watch.
For example, mechanical watches are drastically more expensive than their battery-powered counterparts due to the time it takes to make them.
A single watch is made from thousands of small individual parts and crafting those minute components and assembling them into a functional watch takes an extraordinary number of hours, according to George Mayer, Director of Sales and Watch Buying at Govberg Jewelers in Bala Cynwyd.
During a visit to the Geneva factory of Vacheron Constantin, whose watches usually have five-digit price tags, Mayer met an employee who specialized in making the tiny screws that go inside a watch. It took that worker a full day to finish one and a half screws, said Mayer.
Other pricing factors include materials, marketing, and branding, among many other things.
Read more about Govberg Jewelers at The Wall Street Journal by clicking here.