The 2023 Rolex price rises
So, as watch fans may know, for the past few years Rolex has been annually increasing their prices, specifically on the 1st of January. There was speculation that Rolex would put a hold on the price increases for 2023, however this hasn’t been the case. 2023 has been victim to some more Rolex price rises in the UK & USA.
It’s been said that the prices of the iconic watches have been increased by an average of around 2.5%. More specifically the UK has seen an average price rise of around 2.6%, and USA around 2.2%. Of course, Rolex doesn’t display the prices of all their watches online as a few of their watches are “price on request”. Let’s take a look at some of the price increases of Rolex’s most iconic watches in the UK, from lowest price increase to highest.
· DateJust (Oystersteel): +0.7% from £6,750 to £6,800
· Air-King (Oystersteel): +1.6% from £6,150 to £6,250
· GMT-Mater II (Oystersteel): +1.7% from £8,850 to £9,000
· Submariner No Date (Oystersteel): +2.7% from £7,500 to £7,700
· Cosmograph Daytona (Oystersteel): +2.9% from £12,150 to £12,500
· Yacht Master (Everose Gold): +3% from £23,550 to £24,250
· Day-Date (18ct white gold): +11.3% from £31,450 to £35,000
As you can see, the 18ct Day-Date has seen the heftiest price rise with a whopping 11.3% increase. The watches made from solid gold or two-tone metals have undergone a much bigger jump than those made from the standard Oystersteel.
Of course with the current inflation which is occurring, it’s no wonder really that Rolex is increasing their prices, but are they going too far? We all know they aren’t going to fall short of money anytime soon, and their prices have never exactly been affordable, so do they really need to keep upping the prices. It’s been considered that the increases are also a way of them tackling the issue of the massive re-sell value of their watches, and is a way of them taking back the power of their supply and demand. What do you think of this?