Roger Federer beat Rafael Nadal at the 2017 Australian Open in a five-setter for the ages — making the 35-year-old an 18-time Grand Slam singles champion. Federer is often considered one of the greatest players of all-time.
Follow BI Video: On Twitter
Wristwatches have been commonplace for nearly everyone alive today.
It was hard to imagine a world where most people — both men and women — didn't have a watch mounted on their wrist. A future where we learn the time from glancing at our phones and not our wrists was inconceivable. But that certainly seems to be the future we're heading towards.
And, historically, it's not an inconceivable one. Watches, when they were first being worn on the wrist in the early 1900s, were not considered to be a serious trend, and were instead worn by jokesters and Vaudeville artists. A 1916 New York Times article even referred to wristwatches as a "silly a-- fad."
At the time, both gentlemen and ladies tended to carry around pocket watches. The Times article notes how wrist-mounted watches started as a tool of the military in WWI. The use of wristwatches later migrated to civilian life because they were so practical, and because they were positively associated with a kind of warlike masculinity.
Now, watches have none of that cachet. With the proliferation of clocks — from car dashboards, to laptop screens, to microwave oven displays, to, of course, phone screens — the wristwatch is seen by some to be not just impractical, but not useful at all.
Alexis McCrossen, a professor of history at Southern Methodist University, wrote in a 2013 Time magazine article that while the "pocket-to-wrist cycle may repeat itself" in modern times, she thinks it's unlikely.
"The wrist had a good run, but it simply cannot afford the privacy, security, mobility, or safety of the pocket," McCrossen wrote. For that reason, she argued that the Apple Watch (which had not been released at the time of her writing) and other high-tech wrist wear like it would be likely to fail.
According to estimates from IDC, Apple shipped 1.1 million Apple Watches in the third quarter of 2016, down 71% from the same quarter a year before. Though Apple has never publicly revealed exact sales figures, the watch has clearly not proven to be the industry disrupter the company hoped it would be.
Most young people don't wear watches on a daily basis. The Swiss watch industry hasn't faced such strong headwinds since the "quartz crisis" of the 1970s. It's unlikely wrist-mounted tech will be able to stem the tide.
In this case, it's actually the wristwatch that's the historical anomaly, and time is going back into our pocket where it was kept for centuries prior to the arrival of the wrist-mounted watch. While we at Business Insider argue that every man should wear a watch on his wrist every day, we recognize we are battling against the tides of history.
SEE ALSO: Here's what it actually means for a watch to be 'Swiss-made'
Join the conversation about this story »
NOW WATCH: The best watches for under $400
LONDON — Rolex watches have long been seen as status symbols for the rich and famous. Now research has shown that the reputation is fully justified.
Insurance firm HomeProtect investigated the types of people who own Rolex watches in the UK and where they are located.
The data, drawn from its 8,000 customers, showed that the average cost of a Rolex is at least £5,000 ($6,300). It also revealed:
Most Rolex are owned by retired men, according to the study. It showed that the average age of a Rolex owner in the UK is 68, with 66% of people surveyed over the age of 65, and only 1.5% under 35. Male owners also outnumber women by almost two to one.
Some 29% of Rolex watches in the UK are found in the south east and London. Elsewhere, 15% are found in the east Midlands, 11% in the west Midlands, and 10% in the north west.
London suburbs have a larger number of Rolex owners than central. Redhill, Kingston Upon Thames, Rochester, and Chelmsford all appear in the top 10, alongside the affluent south London areas of Twickenham and Bromley. These areas also have a higher than average population of people in retirement.
Some 7.2% of Rolex owners are company directors, with managing directors close behind. Over 20% of owners have either manager or director in their job title.
But there was some surprises. 3.5% of owners were housewives, over 465 (1.3%) were police officers, and 175 (0.5%) were receptionists. Hairdressers, dog groomers, classical musicians, and even dinner ladies also featured on the list.
Join the conversation about this story »
NOW WATCH: Here’s everything we know about the iPhone 8
LONDON — Rolex watches have long been seen as status symbols for the rich and famous. Now research has shown that the reputation is fully justified.
Insurance firm HomeProtect investigated the types of people who own Rolex watches in the UK and where they are located.
The data, drawn from its 8,000 customers, showed that the average cost of a Rolex is at least £5,000 ($6,300). It also revealed:
Most Rolex are owned by retired men, according to the study. It showed that the average age of a Rolex owner in the UK is 68, with 66% of people surveyed over the age of 65, and only 1.5% under 35. Male owners also outnumber women by almost two to one.
Some 29% of Rolex watches in the UK are found in the south east and London. Elsewhere, 15% are found in the east Midlands, 11% in the west Midlands, and 10% in the north west.
London suburbs have a larger number of Rolex owners than central. Redhill, Kingston Upon Thames, Rochester, and Chelmsford all appear in the top 10, alongside the affluent south London areas of Twickenham and Bromley. These areas also have a higher than average population of people in retirement.
Some 7.2% of Rolex owners are company directors, with managing directors close behind. Over 20% of owners have either manager or director in their job title.
But there was some surprises. 3.5% of owners were housewives, over 465 (1.3%) were police officers, and 175 (0.5%) were receptionists. Hairdressers, dog groomers, classical musicians, and even dinner ladies also featured on the list.
Join the conversation about this story »
NOW WATCH: NASA just released over 100 images of Pluto — and the footage is breathtaking
Since it was invented over 200 years ago, the wristwatch has been an integral component of men's fashion.
In addition to their practical functionality of telling time, a watch serves as a collectible piece of art that communicates the personality and style of its wearer.
With the help of Crown and Caliber, an Atlanta-based preowned-luxury watch marketplace, we've put together a list and commentary about the wristwatches worn by some of the most powerful men in the financial services industry.
It's the story of Rolex and the technicolor dream watch.
The Swiss watchmaker has unveiled a brand-new addition to its Yacht-Master watch collection at this year's Baselworld, the biggest annual watch trade show in the world.
What makes it so unique? A crown of multi-colored jewels graces the rotating bezel — 32 sapphires, eight tsavorites, and one diamond, to be exact.
Though gems have graced Yacht-Master bezels before, they've never been on the 40 mm model, and they've never been this vibrant, according to Hodinkee.
The gems are set in a case made from Rolex's proprietary 18k rose gold alloy called "Everose," and are paired with an Oysterflex rubber band. It's undoubtedly a sport watch, and one that will catch the average person's eye.
Pricing is not available for the piece yet, but we expect the gems to carry a premium over the standard Yacht-Master II 40mm in Everose's $24,950 suggested retail.
SEE ALSO: 14 apps every modern gentleman should have on his phone
Join the conversation about this story »
NOW WATCH: These are the watches worn by some of the most powerful men in finance
Rolex's sportier models get all the glory, but the Swiss watchmaker also has a classic dress watch line that shouldn't be missed.
Launched in 2014 and called the "Cellini," the watches are thinner and more minimal than the rest of the Rolex lineup. They haven't evolved much since then, but a new release at Baselworld this year is about to change that.
The Rolex Cellini Moonphase is Rolex's newest entry in its dress watch line. The addition of a moonphase marks the first time the brand has included that complication since the 1950s, according to Hodinkee.
The moonphase complication will remain accurate for 122 years without adjustment, according to Rolex. It tells the current lunar phase with a blue disk carrying an empty ring and meteorite appliqué moon.
The date can also be read using the numerals on the edge of the white lacquer dial. The 39 mm case uses Rolex's proprietary 18k rose gold alloy called "Everose," and it's paired with an alligator leather strap.
The watch will be released soon, and it carries a price tag of $26,750.
SEE ALSO: Rolex unveiled a new watch that's shinier than anything we've seen from the brand before
Join the conversation about this story »
NOW WATCH: These are the watches worn by some of the most powerful men in finance
The luxury watch brand Rolex is the most reputable company in the world, according to the Reputation Institute's annual rankings.
The Reputation Institute ranks companies according to the public's perception of their success in seven areas: products and services, innovation, workplace, governance, citizenship, leadership, and performance.
The Swiss watchmaker topped the list in North America and Asia, while Lego came first in Europe and the Middle East, while Google was top in Latin America.
To compile the rankings, the Reputation Institute collected more than 240,000 ratings from 15 countries.
Scroll below to see the top 10
SEE ALSO: How these 23 brands are using colors in their logos to influence their customers
2016 proved to be a good year for the German sportswear company, which beat earnings expectations to report net income of more than $1 billion.
The year was the first in its 2020 strategic plan, which put in place by CEO Kasper Rorsted, who wants the company to boost ecommerce sales, increase efficiency, and focus on company culture.
Adidas launched collaborations with celebrities including Kanye West, Pharrell, and Rita Ora to boost awareness of its brand.
Rolls-Royce is one of the few traditional manufacturing B2B companies in the ranking.
The company produces the engines for a number of commercial airliners, such as the Airbus A380 and the Boeing 787.
The company is keen to work on new technologies too. This March it announced plans to invest in a R&D center in Finland to develop technology for autonomous shipping.
Intel became a staple in the technology industry as the leading manufacturer of chipsets for desktop and laptop computers.
Despite missing the mobile phone revolution, Intel is getting back on track. It was rumored Intel powered the iPhone 7. CEO Brian Krzanich has also said the company would be investing further in 5G and connectivity. The company kicked off 2017 with the $15.3 billion acquisition of the autonomous-driving company Mobileye.
Rolex collectors, start counting out your pennies. An exceptionally rare and unique Rolex watch will go up for auction with Phillips in May.
Known as the "Bao Dai" watch, this piece was sold to the last emperor of the Nguyen dynasty in Vietnam in 1954.
It's a Rolex reference 6062, and was both the most expensive and rarest watch the brand sold at the time. The gold case and black dial were the rarest combination of the 6062 model.
Only three models to this specification are known to have existed, according to Hodinkee. This particular model is the only one to have had diamond markers on the even hours, making it completely unique.
It was sold by the Nguyen family for $235,000 in 2002, meaning that the watch has only changed hands once. Though that price may seem low compared to today's standards, it was the most expensive Rolex ever sold at the time. Experts think it may claim that title again.
Its auction estimate is $1.5 million, though many collectors think that the watch will actually go for much more than that when the hammer falls, according to Hodinkee. The current record holder is the Rolex split-seconds chronograph reference 4113, which sold for $2.5 million last year.
SEE ALSO: The 8 biggest reveals from Baselworld, the year's largest watch show
Join the conversation about this story »
NOW WATCH: These are the watches worn by some of the most powerful men in finance
Last year, Cadillac announced a return to the top level of endurance racing and rolled out a new car— the DPi-V.R, powered by a 6.2-liter V8 engine cranking out 600 horsepower.
Nobody ever expects dominant performances from racing newbies, but that's just what Cadillac has delivered.
At the Rolex 24 at Daytona earlier this year, the DPi-V.R went 1-2. And at the Sebring 12 Hours in March, the Daytona-winner team of Rickey Taylor and Jordan Taylor, in their No. 10 Konica Minolta Cadillac, once again took the win, with the other two Caddy teams finishing 2-3, making for a podium sweep.
Cadillac brought the Sebring-winning DPi-V.R to the New York Auto Show, more or less fresh from the track.
Check it out:
SEE ALSO: Cadillac has a new race car that looks like the Batmobile
Rolex is a storied brand — one of, if not the most notable in the watchmaking world.
So it's surprising how relatively little there is to know about the beginnings of the 100-plus-year-old brand. Even something as simple as where its name came from is shrouded in mystery.
Rolex, for its official brand story, plays it pretty simple. According the brand's official website, founder Hans Wilsdorf wanted his new brand of watches to have a short name that could be said in any language.
Most importantly, he wanted something that looked good on the watches themselves, and that was symmetrical in capital letters.
"I tried combining the letters of the alphabet in every possible way," Wilsdorf supposedly said, according to Rolex. "This gave me some hundred names, but none of them felt quite right. One morning, while riding on the upper deck of a horse-drawn omnibus along Cheapside in the City of London, a genie whispered 'Rolex' in my ear."
If that seems incomplete to you, you're not alone. Adding a bit of color to the story is an essay in NYU's Stern Business School newsletter, written by adjunct professor of management David Liebeskind, who claims that Wilsdorf also thought "Rolex" seemed like an onomatopoeia of a watch ticking.
So, basically it doesn't really mean anything. (Some have suggested that it's short for "horological excellence," but there's no proof that Wilsdorf ever claimed that.)
It also hides the brand's English roots, as the brand began in London in 1908 and moved to Geneva, Switzerland, in 1919.
SEE ALSO: 7 watches that are so classic, they'll never go out of style
Join the conversation about this story »
NOW WATCH: These are the watches worn by the smartest and most powerful men in the world
The Insider Picks team writes about stuff we think you'll like. Business Insider has affiliate partnerships, so we get a share of the revenue from your purchase.
While the keeping of time might seem like a trivial task in the digital age, the engineering behind watches still amazes me to no end.
Sure, at any point you can pull out your iPhone and know the time of any location on earth (as well as how long it would take for you to travel there and where to get the best tacos once you arrive), but wristwatches are a different type of marvel.
Contained within your wristwatch is a series of gears, wheels, and springs that all work together to ensure your watch is keeping the time properly. This technology was developed literally hundreds of years ago, and people have been toiling forward to make improvements to watch technology ever since.
One of the biggest developments in the watch industry was the invention of the automatic movement. Before the automatic movement, watch wearers would have to wind their timepiece every day to keep it ticking. Through the 18th and 19th century, different types of weights and designs were developed that used the energy created by the movement of the wearers hand to keep the watch perpetually wound.
The automatic movement still amazes me, and today it’s contained in some of the most iconic watches on the market — the Rolex Submariner and Omega Speedmaster both employ an automatic movement in their design.
We asked Chaim Posen, marketing director at Jomashop, to pick out some of the most popular automatic watches at every price. Jomashop offers a wide variety of watch brands at competitive prices. If you’re in the market for anything from Bulgari to Seiko to Timex and everything in between, chances are they’ll have something for you.
Below, you can find Posen's picks for the best automatic watches available at all sorts of price points — whether you’re on a budget or hoping to invest in a watch that will last a lifetime.
If you're considering dropping big money on a luxury watch, as with any other major purchase, be sure to compare prices and do some research first. While all of the watches are guaranteed to be 100% authentic, they do not come with a manufacturers warranty. If you have any concerns at all, you can view Jomashop's full warranty policy here.
SEE ALSO: These undershirts solve one of the biggest problems guys have with them
READ MORE: One of my favorite watches for the summer is less than $100
DON'T MISS: This startup lets guys design custom shirts for the same price they pay for off-the-rack ones
Two violent robbers were jailed for a total of 14 years and eight months on Tuesday following the heroic actions of a 10-year-old boy, according to the Metropolitan Police.
Brothers Eugene and Devlin Williams attacked Didier Levenfiche's mother, Tania, on June 13 2016 in London. The pair ripped out her earrings, attempted to steal her watch, and attacked the family's dog.
Didier witnessed the robbery and raised the alarm before the Williams brothers escaped in a black BMW. The 10-year-old memorised the Williams' faces and was later able to identify them during an ID parade.
"I watched the men's faces to try to memorise them," Didier said in a police video celebrating his actions last year, when he was named Westminster police's hero of 2016.
Detective Constable Martin Thomas said in a statement: "Didier's brave actions directly led to them being brought to justice and we are very proud to have named him as our hero of the year."
Tania Levenfiche said Didier has not slept properly since the incident, but was thankful her attackers have been brought to justice.
"He has not slept a whole night since the incident and also is very disturbed by the fact that the attackers kicked our dog over and over as she tried to jump up at them to help me," she said. "Please remember that he watched this whole incident and the face of the attacker staring at him."
The Williams brothers were behind a spate of violent robberies between November 2015 and August 2016 across London. Devlin Williams had a particular eye for Rolex watches and was involved in two attacks in August last year where the expensive watches were snatched.
He colluded in the robbery of a £20,000 Rolex from a 74-year-old woman on August 4 2016, while he was also behind an attack on a 30-year-old man three days later, when his £7,000 watch was taken.
Devlin Williams was sentenced at Southwark Crown Court to six years and eight months in prison on Tuesday. His brother, Eugene, was handed a sentence of eight years.
Here's the video of Didier Levenfiche talking about his act of heroism:
Join the conversation about this story »
NOW WATCH: These are the small, agile new aircraft carriers meant to take F-35s into battle
An exceptionally rare and unique Rolex watch just became the most expensive ever sold.
Known as the "Bao Dai" watch, this piece was sold to the last emperor of the Nguyen dynasty in Vietnam in 1954.
It just sold for over $5 million at auction at Phillips in Geneva. The buyer has not been identified
The Bao Dai is a Rolex reference 6062 — the most expensive and rarest watch model the brand sold at the time it was made. The gold case and black dial were the rarest configuration of the 6062 model.
Only three models to this specification are known to have existed, according to Hodinkee. This particular model is the only one to have had diamond markers on the even hours, making it completely unique and unlike every other watch in the world.
It was sold by the Nguyen family for $235,000 in 2002, meaning that the watch has only changed hands once. Though that price may seem low compared to today's standards, it was also the most expensive Rolex ever sold at the time.
While the watch's auction estimate was only $1.5 million, collectors expected it to go for much more than that.
The Bao Dai handily beat the previous record holder, the Rolex split-seconds chronograph reference 4113, which sold for $2.5 million last year.
SEE ALSO: You can now bid on Rolex watches on 'the stock market of things'
Join the conversation about this story »
NOW WATCH: These are the watches worn by some of the most powerful men in finance
Since it was invented over 200 years ago, the wristwatch has been an integral component of men's fashion.
In addition to their practical functionality of telling time, a watch serves as a collectible piece of art that communicates the personality and style of its wearer.
With the help of Crown and Caliber, an Atlanta-based preowned-luxury watch marketplace, we've put together a list and commentary about the wristwatches worn by some of the most powerful men in the financial services industry.
Roger Federer is an 18-time Grand Slam singles champion. At age 35, he's still not done playing. Federer is often considered one of the greatest players of all-time. He has endorsement deals with companies like Nike and Rolex, helping to make him the highest paid tennis player on Earth.
Apple has finally achieved a major milestone with its Apple Watch.
The company's CEO Tim Cook told attendees that the tech giant now sells the number one watch in the world, leapfrogging Rolex in the process. Cook also said the Watch saw stunning 50% year over year sales growth in August.
Apple didn't share any hard sales numbers, but that's not surprising — Rolex remains similarly tight-lipped. According to an estimate by Canalys, Apple sold 11.9 million watches in 2016.
When Tim Cook announced last year that Apple was the number two watchmaker in the world, we said that made sense: Rolex is the giant in the watch world, and passing it would be some type of feat. But Apple has done just that.
At that time, Apple just announced its Watch Series 2 which had capabilities like water resistance and an on-board GPS. It's clear that these improvements have increased sales, and made the Apple Watch more attractive.
Apple also pivoted from a fashion focus, where it was competing directly with brands like Rolex, to instead talk up the fitness capabilities of the watch and positioned it more like a highly capable wearable.
This pivot started when the Series 2 was announced. That was on display in the latest Apple keynote on September 12, where there was a lot of focus on new heart rate monitoring capabilities, and only a passing mention to its Hermés collaboration. Apple still compares itself to watch companies even though it is not positioning its watch for fitness, like wearable makers do. In a comparison of wearable makers, it comes in at number three according to IDC analyst estimates as of fourth quarter of 2016, behind Fitbit and Xiaomi — both of which sell products at much cheaper prices than Apple.
It's safe to say in 2017, there's more consumers buying wearables for their fitness capability than buying mechanical watches for their style.
Rolex has been suffering along with the entire Swiss watch industry, with poor sales nearly worldwide. If Apple's stats are from 2016 — which is our bet — that would make even more sense.
Watch exports from Switzerland fell 10% in 2016. It's tough to say exactly how much that affected Rolex specifically. Early reports say 2017 might be looking better for the Swiss watch industry, but it's too early to say for sure.
So, yes iPhone sales are up — markedly so. But Rolex's sales are likely down, which has helped Apple edge out the Swiss giant.
SEE ALSO: This $60 Japanese watch is the best value out there — here's why
Join the conversation about this story »
NOW WATCH: Watch Apple unveil the iPhone X
Thousands of people use a Bloomberg terminal every day to do their jobs. It's one of the most useful machines in the world, and the workhorse of the financial industry, with up-to-the-second data and news from around the world.
The terminal, which costs more than $20,000 a year, has some extremely handy functions, such as stock quotes, financial analysis, and an instant messenger that some people could not do without.
But there's another, lesser-known function — aptly named POSH — that allows Bloomberg users to list anything they want to flip for some cash.
We went through the listings to find the most opulent and ridiculous items and services for sale right now. Here are (just a few) of our favorites.
SEE ALSO: These niche coffee chains could be the next Starbucks competitors
Price: €16,500,000
For the low price of roughly $19 million, this Calabrian castle can be your new home — or, you know, your second, third, etc.
This "medieval castle in the mountains" has a pool, an olive orchard, a vineyard, views of the sea, and even a working dairy with 30 cows on 100 acres of land.
Price got you down? Don't worry — the posting says it's a "practical family get away."
Price: $100,000
Need some new decor for your home? The Bloomberg terminal has you covered. This 1962 Picasso is from a set of 50 similar paintings. This one is dedicated "pour Ynes Picasso."
Price: £109,995
According to Business Insider's in-house Ferrari expert, Matthew DeBord, this might be a pretty good deal.
The starting price of the California T, the company's "entry-level" car, is $198,000. This 2012 model, in red, has 7,600 miles under its hood and is going for just about $145,000 at today's exchange rate.
Paul Newman's very own Paul Newman Rolex Daytona went up for auction at Phillips Auction House in New York on Thursday and sold for a record-breaking $17.8 million (£13.6 million).
When the Paul Newman lot came up, the bidding was opened at $1 million, but a telephone bidder immediately placed a bid of $10 million, stunning the room into silence.
It was one of the most intense auction sales ever seen in vintage watch collectors' circles.
The bids then went back and forth between two telephone bidders and the timepiece was finally sold for $17.8 million — including buyer's premium. This makes it $6 million more expensive than the previous most expensive watch ever sold at auction.
It also breaks the record for the most expensive Rolex ever sold at auction, which was previously held by the Rolex Bao Dai which sold for $5 million back in May.
Aurel Bacs, the Senior Consultant, Phillips in Association with Bacs & Russo has dubbed the watch the "'Adam and Eve' of the watch collecting world."
The reason this watch is worth so much to collectors is the story and history behind it, as it's not made out of any precious metal and it is not the most complex watch in the world either.
It was given to Newman by his wife Joanne Woodward while he was filming "Winning", he then gave it to his daughter's then-boyfriend James Cox with the famous quote "if you wind it up it keeps pretty good time."
After that, the trail of the watch goes cold until Cox brought it to Phillips to auction with a portion of the proceeds going to benefit the Nell Newman Foundation and Newman’s Own Foundation.
Join the conversation about this story »
NOW WATCH: These are the watches worn by the smartest and most powerful men in the world
Expensive wristwatches are invaluable traveling tools. They can tell time, don't need batteries to run, and are incredibly reliable.
Another bonus, according to Travel Channel host Philippe Cousteau, is that nearly everyone worldwide understands the value of a Rolex, and it can be traded in the event of an emergency. Cousteau, who is also the grandson of Jacques Cousteau, told Bloomberg that he wears an understated but "tradable" watch no matter where he goes, because of how useful it can be as emergency currency.
Cousteau is vague about the kind of "trouble" he describes, but we can imagine a few scenarios where a valuable watch would help you get to places on time.
Cousteau says an ex-British special force soldier gave him the advice. We're guessing the advice is a little more useful when you have years of military training and expertise — and look like you do, too.
After all, this advice seems a bit old-school. In all but the most remote corners of the world, access to money is only a phone call or click of the mouse away. Though there are usually fees involved, finding an ATM that will give you access to cash through a credit card advance or debit isn't difficult. And it doesn't involve giving away a prized possession.
If you were to find yourself in a serious emergency, it's not hard to imagine a scenario where a fancy watch would just make you a bigger target. A kidnapper wouldn't free you just becuase you have something valuable — they'd likely just take that from you, too.
For many, expensive watches are investment pieces. If you're bringing it with the thought that you might lose it, you have to be very sure that you can afford to lose it and can purchase another one if you need to.
SEE ALSO: Here are the best restaurants in New York City, according to the Michelin Guide
