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I was in Switzerland last week. I had the chance to have a couple of hours conversation with a watchmaker, who had worked in the Omega service department, then did an advanced course leading to work for Bovet. There, she made highly complicated watches, including one that sold for 480,000 Swiss francs. I think she knows what she is talking about.
A summary of her opinions:
1. Rolex movements are better than Omega's (though she has not worked on all of them). Thirty to forty years ago, they were equal, but not any more.
2. Rolex is vastly over-priced compared to the cost of manufacturing.
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