While Apple has always tried to keep the price tag down on its various products in order to attract plenty of the right customers, new reports have confirmed that the new Apple Watch will be available in a limited special edition, made of 18-carat gold, sapphire, and crystal, and will retail for a cool $10,000.
When the new watch is launched tomorrow, it will be the company’s most expensive product since the $10,000 Lisa computer in 1983.
And while the new watch is the brainchild of the late Steve Jobs, it will be unveiled by Apple chief exec Tim Cook on Monday.
According to Jan Dawson, a tech analyst at Jackdaw Research, the move by Apple to enter the more luxurious market is an unprecedented one.
“Apple is the only technology brand that has the potential to move from tech brand to luxury brand. This is unprecedented. I think this is Apple flexing its muscles, moving into a space that it potentially has all to itself. The question is: how big is that market? Is Apple eating into the market or making it bigger? I think they will make it grow,” she said.
At the same time, a number of commentators have speculated that without a solid enough grounding in the high-end retail market, the Apple Edition Watch could potentially go down the same road as some iPhones, which stop working properly after a few years.
That being said, according to Thomaï Serdari, Luxury Brand Strategist and Lecturer at Sotheby’s Institute of Art in New York, the new posh watch looks promising.
Serdari told reporters, “Apple produces good design, and I hate to say it but good design is priceless. From what I have seen, the gold watch has a very elegant profile. The very slight curve shows that the design has been very well studied to fit on your wrist. I am curious to see how it actually feels. I wouldn’t be surprised if customers have the option of keeping the strap and the casing but updating the software, which would create loyalty and longevity.”