Rolex quietly raised their prices just as we rolled over from 2022 to 2023, but compared to last year’s price increases, they haven’t been quite as aggressive.
Most watch brands subtly bump their prices up every few years (sometimes, every few months) but if there’s one watchmaker’s prices that fans particularly obsess over, it’s Rolex’s.
Last year, the average price increase across all Rolex models was around 3-4% from 2021 prices, but some models saw far greater price increases. Specifically, stainless steel models from Rolex’s “Professional” collection – which includes popular models like the Daytona, Explorer, GMT-Master and Submariner – saw average price increases of 10% or more.
Rolex also bumped up their prices a second time last year in Europe and the UK in September.
This year, the jump between 2022 and 2023 prices hasn’t been quite so severe. On average, prices have risen closer to an average of 2% – although, much like last year, the price rises aren’t uniform across different markets (which is largely a factor of currency valuations and inflation). Basically, it could be worse.
Unlike Rolex’s last round of price increases, popular models like the Daytona and Submariner haven’t been singled out and have instead only received subtle price increases of around 1.98 and 2.21% respectively. Interestingly, despite only being launched in April last year, the left-handed GMT-Master II ‘Sprite’ has also seen a price increase of 2.26%.
RELATED: Rolex GMT-Master II ‘Sprite’ Now Selling For Over $100,000
“Investors are well-accustomed to price rises being a key feature of this attractive industry, but it is encouraging to see this continue given that we believe it will have no discernible impact on volumes,” Barclays analysts Richard Taylor and Pallav Mittal said in a recent note to clients. That is to say, the price increases aren’t reflective of a change in Rolex production numbers.
In essence, these price hikes might be good news for people who already own Rolexes, but it’s not good news for people trying to get their hands on a new one… As difficult as that is already considering the size of Rolex’s waitlists.
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The post Rolex Raise Their Prices Again In 2023… But It’s Not All Bad News appeared first on DMARGE Australia.
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