Why Is Rolex So Expensive?

Why Is Rolex So Expensive?
I stumbled onto this fascinating video that attempts to answer the question of why Rolex watches are so expensive. Ironically, the video points out that the Rolex depreciation curve over a short period of time can actually result in being an appreciation curve. 

On a personal note, it's alway interesting to me how other people perceive and communicate Rolex value-proposition ethos. Some of the details in this video are an oversimplification, but the overall message and conclusion seem to be accurate and on-point...