Jonathan V. Last of The Bulwark has performed a public service by dissecting the actual cost of the brand-new Trump watches, which Trump is advertising and selling online. The top of the line sells for $100,000, the least expensive is $499. All profits, of course, go to Trump personally, not to his campaign. Trump is cashing in on the gullibility of his cult.

Last shows in his post that the actual cost of putting together the $100,000 all-gold with inlaid diamonds watch (engraved with Trump’s name on is face) is $20,000. The actual cost of the $499 watch with Trump’s name on its face is $60.

He writes:

How much are these watches worth, really?

Let’s take the $499 version, which is a red-dial steel dive watch. It has an automatic date movement of unspecified origin. (Translation: China.) It has a mineral crystal with an aluminum bezel. The clasp does not appear to have micro-adjustments.

The internet is full of off-brand watches like this. Here’s how you build one:

Everything you need comes from China using AliExpress. First you buy a steel case and bracelet for, say, $30. Like this one.

You engrave the caseback using laser etching working off an .svg file. Maybe that costs $5. Then you buy the cheapest possible automatic movement with a date function. Here’s one for $9. Pop the movement into the case and all that’s left are ial and handset. Hands are super-cheap.

And sunburst dials—even with applied markers—are not terribly expensive, either.

The final step is actually the most expensive: You have to pay someone to machine the “TRUMP” and signature bits and glue them to the dial. This is the first truly custom step and maybe, if the manufacturer wants to spend a little more money, they’re having a fourth-party make the dials for them out of sunburst blanks.

All told we’re in the neighborhood of $60. And that’s if you’re just trying to build a single watch without bulk purchasing power.

Reminder: They’re selling it for $499.

Last determined that Trump will pocket millions of dollars from the sale of these watches.

Here is his description of the $100,000 watch:

Enough with the plebe beater watches. I want to know about the $100,000 Trump “Victory” watch!

At least these aren’t from Ali Express.

Almost the entirety of the cost for the Victory models comes in the material cost for the “solid gold” case and bracelet. Trump claims there’s 200 grams of 18K gold in each watch. If true, the spot price of gold puts that cost near $13,000.¹ That’s real money.

The tourbillon movement inside these watches also appears to be an off-the-shelf product, but at least it’s a high shelf.² If I had to bet, I’d guess the Victory uses something from Olivier Mory, who sells “Swiss Made” tourbillon movements that generally run around $3,000.

How does Mory keep costs down? “Swiss Made” is like “Broadway”—it sounds like a colloquial description, but it’s actually a legal term of art.³Swiss Made means that 60 percent of the manufacturing costs and 50 percent of the “essential manufacturing step” must occur in Switzerland. Mory sources as many parts of his movement as he can from outside Switzerland—while still maintaining his “Swiss Made” status. And he streamlines his build process so that he can assemble 1,000 movements per month while keeping half of the “essential manufacturing step” in country.⁴

I can’t speak to the cost of the diamonds because there’s no information about the total karat weight involved but they appear to be quite small, in the <1mm range. For the sake of argument let’s say that the diamonds add another $1,000.

We’re now talking about a total production cost in the neighborhood of $20,000—and possibly much less—for a watch offered at $100,000.

As a point of reference, the list price on a solid gold Rolex Submariner is $40,600. In the Submariner you get an in-house, state-of-the-art movement running at COSC spec inside a bullet-proof case. The fit and finish will be superlative. And even though you’re paying over the odds for the Rolex name, you’re getting 10x the watch for 40 percent of the price of a Trump Victory.

Did I mention that the Trump Victory can’t get wet? From the Trump website: “The Tourbillon watches are not intended for water exposure.”

Which watches does Trump own?

Last writes:

Trump is not a watch nerd, exactly, but he knows that Big Rich Guys should wear expensive gold watches. So he has a Patek Philippe Golden Ellipse ($17,500), a gold Rolex President Day-Date ($40,000), and a Vacheron Constantin Historiques Ultra-Fine ($20,000). It’s a small, understated collection and if I’m being honest, it’s impressive in its own way. These are beautiful watches from serious watchmakers and they suggest an elevated taste that I would not have expected from Trump.

The website for Trump watches includes this advisory:

Trump Watches are not designed, manufactured, distributed or sold by Donald J. Trump, The Trump Organization or any of their respective affiliates or principals. TheBestWatchesonEarth LLC uses the “Trump” name, image and likeness under a paid license agreement which may be terminated or revoked according to its terms. Trump Watches are intended as collectible items for individual enjoyment only, not for investment purposes. 
The images shown are for illustration purposes only and may not be an exact representation of the product.
These watches are not political and have nothing to do with any political campaign.

Panelists on MSNBC’s “Morning Joe” agreed that it’s become very expensive to be a follower of Trump. The Trump Bible. The Trump commemorative coins. The Trump NFT. The Trump sneakers. Now the Trump watch.

And there is much more for sale at Trumpstore.com.

Gotta make money while there’s still time.

Profiteering off your candidacy is tawdry and undignified.