Rolex Raise Retail Prices Again

On January 1, a few people woke up with a little headache a few days earlier. I'm not referring about a hangover from New Year's Eve. Once more, Rolex boosted prices on January 1st, which affected consumers' wallets by an average of slightly over 3% throughout the brand's assortment in the United States.

The brand's "off-menu" alternatives, which aren't even mentioned on their website, as well as "price on request" watches like the platinum Daytona and platinum Day-Date, make it difficult to determine the precise average of price hikes. Rolex declined to comment on any pricing. Having said that, the prices shown on their website represent a return to normal for the company, which has a history of changing its MSRPs at least once a year.

Increases affect certain models more severely than others. For those of you who have been waiting for a white gold Daytona, which has increased significantly by $5,400, today is not good (17 percent). Whereas the price of the consistently popular steel Daytona has increased by $250 (1.72 percent) to $14,800.

Among the other coveted steel sport Rolexes, the Submariner ref. 124060 (currently $9,100) and 126610 (currently $10,250) and the Explorer II ref. ), and the GMT-Master II is up about 1.9% depending on the strap ($10,700 for the Oyster, $10,900 for the Jubilee).

Barclays of the United States reports his 2.2% growth in the steel model of Rolex, which is the most in demand. The price hike may be frustrating for collectors who have been saving up waiting for a phone call from an authorized dealer, but it's not surprising given the rising prices and material costs. Rolex froze prices for two years during the pandemic, which was actually an anomaly.Last year, U.S. inflation averaged around 8.1% through November, so this new rate hike is actually modest.

Perhaps still on the lookout for a collapse of the pound against the euro after Brexit in 2016, Rolex certainly doesn't want to end up with the bag again. At the time, most watch companies were slow to adjust their prices, making the UK one of the cheapest places to buy watches in the world. This time, Rolex acted quickly, announcing a price increase of about 5% in September in the UK market. That was followed by another increase for the rest of Europe in November – a 5% increase of their own. In total, the bulk of the Rolex product line has grown by 7-8% in the UK and EU. That means the US comes out on top with a gain of just 3.4% in January, but heightened market volatility (and Rolex's own actions last year) leaves open the possibility that an initial correction could be made. This first for the beginning of the year is not the only adjustment we will see in 2023 .

Now the good news part. Yacht Master fans, today is your day! Four different Yacht Master SKUs have dropped in price — a whopping $50 — in the US. Probably not enough to move the needle for most buyers, but if you don't want the extra $50, we'll take it.

These increases also bring a number of Rolex watches, mostly steel sport models, closer to the MSRP whose aftermarket prices have been steadily declining over the past year after hitting all-time highs. With asking prices for popular models like the GMT, Daytona, or even the green Submariner sometimes near or exceeding double their list price, I don't think we'll see a death. of the gray market. But one would hope that this will frustrate some palmists if they decide it's not worth it.

That said, particularly stiff price tags are placed on the first watches in Rolex's new "Certificate of Pre-Ownership" program (prices have been harshly criticized on social media for being high in value). much more than gray market rates) makes it hard to argue that even a small price increase at the register is still not a relative bargain.

Lastly, the Daytona, one of the most difficult to find sports models from Rolex, celebrates its 60th anniversary this year. In the event that any new Daytona models are introduced or existing ones are discontinued, secondary market values may rise once again. If you can obtain it, giving Rolex and their ADs a few extra percentage points would be a little price to pay.