Rolex watches have become a popular gift among Australia's young and wealthy A-list as a symbol of a future engagement. The luxury watches, known for their status and wealth, have become the new version of the American 'promise ring' among the country's elite. Celebrities like Lara Worthington, Candice Warner, and Snezana Wood have all received Rolex watches from their partners before getting engaged. The trend has continued with newer couples like Nadia Bartel and Peter Dugmore, as well as Nick Kyrgios and Costeen Hatzi. The presence of a Rolex watch is seen as a sign that a relationship is serious and heading towards marriage.