First, why would you buy a Rolex at all？ It gives you the psychic reward of owning a fine time-keeping instrument- the satisfaction of owning “nice things.”
When times are tough, as they have been for many people the past few years, people cut back wherever they can- or wherever they need to. In the hierarchy of needs, psychic rewards are far down on the list. The need for food, shelter, and safety for ourselves and our families must be satisfied before any of the more intangible needs. Of course we would like to feel high levels of esteem and self actualization. These are basic human desires. But these only are felt after we have been able to satisfy the higher level, more basic needs.
Now that many business people have “weathered the storm” of the economic recession and they have been able to provide for the comfort and security of their , thoughts of boosting self esteem are creeping back into their minds. They are reflecting on their personal worth, social recognition, and feelings of accomplishment. What better way to do something nice for themselves than to buy and wear a Rolex watch. Not only does it become a reminder that they have the talent and ability to withstand hardship and triumph over adversity, it is also a universally recognized symbol of financial success and achievement.
Once you own a Rolex, you become very aware of who else is wearing one. You feel part of an elite club. For owners of the rare Rolex Daytona, it is almost like a...