It helps to read the literature!

I came across this article published in 'Mumbai Mirror', (a popular tabloid here in Mumbai) and it saddens me when (educated but arrogant) people can't take some time off to learn some basics, but important, when it comes to buying something expensive :/

"If you have a grievance about your automatic watch failing to keep up,see if you're using it right.Claiming that his self-winding Rolex had gone kaput,octogenarian Dr K R Shetty sought a refund and compensation.
However,the South Mumbai District Consumer Disputes Redressal Forum has dismissed his plaint,holding that such watches require regular usage to function well.
For Rs 9.41 lakh,Shetty had bought a Rolex Oyster perpetual daydate watch in September 2007,from a store in Kalaghoda.
The watch used to get automatically charged when worn on a human wrist due to movement of the arm.However,Shetty said the watch was malfunctioning,and returned it to the shop in February 2008.
The shop told Shetty the watch found to be perfectly fine.As the shop refused to refund him,Shetty lodged a complaint before the forum,stating the piece had a manufacturing defect.
The shop argued that the watch lacked power reserve due to poor wrist movement,and said they had even told Shetty to give some manual winds to the watch,which Shetty did not.
Ruling out any defect,Rolex informed Shetty that such watches were to be worn daily,for at least eight hours.
It has to be worn so that it shakes and swings so as to wind the coilspring to provide the energy for it to function well, the company said.
Dismissing Shetty's case,the forum noted last week,In this case,it appears the watch is not worn daily as Shetty claimed to be affluent enough to have more than one timepiece.
Holding that it is for Shetty to prove his claim with independent evidence when tests by the dealer and company prove that the watch was faultless,the forum noted,He has not produced evidence that despite regular use,the watch is malfunctioning. "
Hopefully, he'll pay more attention to the sales staff next time!

Does it make sense to buy it here?

The other day, an uncle of mine called up and asked me regarding an ad for a Rolex watch in one of the newspapers. He wanted to know the price and some info on the model. When I had a look, it was an ad for a Rolex Day-Date 118238 (with the President bracelet). Absolutely stunning!!
(pic not mine)

I had no idea of the exact price, so I called up an AD in the city. He quoted Rs. 1292000 ($28482) with the President bracelet and Rs. 1220800 ($26952) with the Oyster bracelet. I am always tempted to compare prices here and abroad, so I compared the Indian prices with the ones in the US and Europe, which are as follows:
US prices:
With President bracelet - $26400 ~ Rs. 1198032 (diff=Rs. 93968 or $2082)
With Oyster bracelet - $24950 ~ Rs. 1132330 (diff=Rs. 88470 or $2002)

European prices:
With President bracelet - € 20715 ~ Rs. 1231958 (diff=Rs. 60042)
With Oyster bracelet - € 19580 ~ Rs. 1164562 (diff=Rs. 56238)

I am aware that Europe has some extra taxes to be paid, but I think tourists can claim it back.

So looking at the above prices, its not just a difference of a few Rupees, its pretty significant. I can actually get return flight tickets (and maybe accommodation) to the above mentioned places and buy one there in the same amount. That way I get the watch and a short vacation too :p

I am not criticizing Rolex's pricing policies here. I am sure they have their reasons for it. However, if I had that kind of the cash to buy that watch, I think I'll consider the option of taking my short vacation :)