Why are Patek Philippe fine watches more expensive than Rolex watches?

I've always admired anybody who owns a Rolex watch until I was introduced to a Patek Philippe wristwatch.|||It is all about the movement, both brands use "in-house" movements. Meaning they make and assemble the parts in-house opposed to purchasing the movement from ETA for example. Patek movements are usually more complicated driving a higher price. In-house always carries a premium. Watch this video for a better appreciation of what drives these prices: http://www.youtube.com/watch?v=GDOGWVgnU鈥?/a>|||Wow, I didn't know they were, but I still think that Rolex is the benchmark name in watches.