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The Bulwark’s Jonathan Last took a closer look at the purported luxury watches that former President Donald Trump is hawking to his supporters and has concluded that the entire venture is “a scam.”

Last begins by looking at the “cheaper” $500 Trump watch and concludes that its price should be much, much lower.

“The internet is full of off-brand watches like this,” Last said after doing a quick analysis of the watch’s material components. “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… 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 dial and handset. Hands are super-cheap.”

All told, Last estimates that you can construct a $500 Trump watch for just $60 if you wanted to put the effort into doing so.

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Last then takes a look at the $100,000 Trump Watch and concludes it is similarly overprices, although not by the same amount as the cheaper model.

“As a point of reference, the list price on a solid gold Rolex Submariner is $40,600,” he explains. “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.”

As if that weren’t enough, the $100,000 Trump watch cannot get wet, which Last argues means that you shouldn’t “wear it to a boat parade.”

Read the full analysis here.

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