Last week you read about the slick design and high integration the Apple Watch enables with your other smart devices. That’s all fine. It’s great even. But, is it really worth the price? Let’s explore.
My take? If you’re considering buying the shiny, new Apple Watch — the deluxe “Apple Watch Edition” — you should really consider buying a Rolex instead.
Take a look at the tech gadget world right now. Consumers typically hang on to smartphones for two years on average, due to a variety of reasons:
- Cell phone carriers usually have two-year contracts
- The technology is outdated in two-years
- Technology is fragile, shatter your phone screen and your experience decreases dramatically
- Battery life decreases and usability decreases
Apply that same concept to the Apple Watch, and we can predict that version one of the Apple Watch will last you about two years maximum.
Apple typically produces a much better product on their second try, just take a look at the history of iPods, iPhones, and iPads.
We can also make a fairly accurate prediction that Apple will improve the way bands attach to watch bases in the next 2-4 iterations, so there is no guarantee that you can keep replacing the watch face while keeping the same band over the next 5-10 years you commit to wearing the watch. (If any of the Apple Watch bands even last you 5-10 years taking daily wear into account, I will eat my hat.)
Let’s take a look at the lifetime cost of a Rolex versus the Apple Watch with a few assumptions:
- The lifetime of a Rolex is 20 years, and we’re going to buy a $30,000 Rolex watch, because, why not? (And if you keep maintaining your watch, it will last a few lifetimes for a quality timepiece.)
- You will plan on replacing your Apple Watch every two years.
|Purchase||Cost||Total cost over 20 years||Cost per year|
|Apple Watch Edition||$12,000||$120,000||$6,000|
|Apple Watch Sport||$350||$3,500||$175|
*You can hand it down to your children’s children, and your cost per year is comparable to getting an Apple Watch Sport right now!
If you do end up buying the Rolex, I just saved you $90,000. You’re welcome.
Now if you went and invested this money…
|Purchase||8% Return over 20 years|
|Apple Watch Edition||$352,469|
|Apple Watch Sport||$10,280|
*Or you can invest your $30k and get about $66million in 100 years…. hmm, $66 million versus a Rolex….
If you are still considering purchasing the Apple Watch Edition… can I
borrow have some money?
Talk to us more about the ROI for the tech development you’re considering.
Image Source: Unsplash, Crew