Robert X. Cringely has an interesting take on the gold Apple watch.
Excerpt:
In all the coverage and hype concerning Apple’s event on Tuesday I’d like to concentrate on one easily-overlooked product I feel is by far the most revolutionary of those announced. I am of course talking about the Apple Watch Edition — Apple’s gold watch.
Where we might expect an Apple Watch to be aimed at competitors like Samsung, LG, or even Sony, the Apple Watch Edition is aimed squarely at Rolex. It is Apple’s first-ever true luxury product.
There have been near-luxury products from Apple before, but nothing like the Apple Watch Edition, which I am convinced is the brainchild not of design director Jony Ive or CEO Tim Cook, but of SVP of Retail and Online Stores Angela Ahrendts (former CEO of Burberry) and Patrick Pruniaux, former VP of Sales and Retail at Swiss watchmaker (and LVMH brand) Tag Heuer.
Let’s consider for a moment what this gold watch means for Apple. They didn’t announce the price for the gold model, but given that we’re told the Apple Watch comes in three basic styles starting at $349 I’d guess that the gold model will list for 10 times that amount or $3495. 10X pricing is one of the fundamental definitions of a luxury product.
Insane, right?
Wrong.
That price puts the Apple Watch squarely in Rolexville and Heuerland.
I told you so. Half of the value will be letting others know you can afford it.