Rolex SA () is a luxury watch manufacturer based in Geneva, Switzerland. Originally founded as Wilsdorf and Davis by Hans Wilsdorf and Alfred Davis in London, England in 1905, the company registered Rolex as the brand name of its watches in 1908, and became Rolex Watch Co. Ltd. in 1915. After World War I, the company moved its base of operations to Geneva due to the unfavorable economic situation in the post-war United Kingdom, and in 1920, Hans Wilsdorf registered Montres Rolex SA in Geneva as the new company name, which eventually became Rolex SA in later years. Since 1960, the company has been owned by the Hans Wilsdorf Foundation, a private family trust.Rolex SA and its subsidiary Montres TUDOR SA design, manufacture, distribute, and service wristwatches sold under the Rolex and Tudor brands. In 2018, Forbes ranked Rolex as the world's 71st most valuable brand. As of June 2019, of the top ten most expensive watches ever sold at auctions, three were Rolex watches. In particular, Paul Newman's Rolex Daytona currently holds the title of the second most expensive wristwatch and the third most expensive watch ever sold at an auction, earning USD$17.75 million in New York City on October 26, 2017. Rolex is the largest manufacturer of Swiss made certified chronometers. In 2005, more than half the annual production of watches certified by Contrôle Officiel Suisse des Chronomètres (COSC) were Rolexes.