A rare Domino’s cobranded Rolex watch is going up for auction, but its mere existence is confusing some people.
According to Yahoo Finance, Domino’s has been giving the watches out as rewards to restaurant managers for decades. To qualify, the managers must, in addition to meeting “operational requirements,” have their store hit $30,000 in sales each week for four consecutive weeks.
But people are wondering why Rolex? Paul Altieri, who runs Bob’s Watches, a site for used and vintage Rolex watches, admits he doesn’t know either.
“But I’ve never understood why they allowed Domino’s Pizza and others outside the luxury world to logo their watches,” Altieri tells Yahoo Finance.
While the reasoning behind the partnership is unknown, the demand is very well tracked. The rare “double-logo” watches fetch extremely high prices from collectors.
“It does add value as there are lots of collectors — and past employees of the Company — who want them,” says Altieri. “In general, it adds about 10-20% over a normal non branded model.”
However there is no way to know how incredibly rare the watches are, as Domino’s does not track how many have been given out.
“This program has been going on for decades,” said a Domino’s spokesperson. “I doubt we have a good way of knowing how many we have given out.”
The watch, which is headed to auction by Christie’s, is expected to reach a premium.
Christie’s estimates the watch will go between $3,000- $5,000. Most Rolex Air-King watches, the style of the Domino’s logo watch, go for between $3,000 and $3,500, Yahoo Finance reported.
The co-branding program with Domino’s logo featured on the face of the watch was discontinued in the 2000s. Today, Rolex and Domino's still have the branded watches as rewards, but the luxury watch designer moved the pizza chain’s logo to a more discrete location on the bracelet, Yahoo reported.