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Rolex and Omega may have been like competitors in the pre-quartz days when high end, mass product watchmakers pretty much used their own movements. Financially, Rolex survived the quartz revolution because it is privately owned by a wealthy family. Omega took a fiscal hit, and has significantly restructured itself since then.
Rolex today is much as it ever was. It sticks to a proven success formula, and still makes its own (albeit mass produced) movements.
Omega switched over to taking industry standard movements and customizing them to a unique level of quality.
Hence, today's Omegas cost a lot less. Which is actually better is up to the individual. I have nothing bad to say about Rolex, but don't want one bad enough to pay for it.
Jeff
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