Rolex watch prices went out of control

You may have to pay 14 percent more for a new Rolex than last year, and there is no end in sight to the price increase of valuable Euro watches.

The summary is made by artificial intelligence and checked by a human.

The prices of Rolex watches rose by an average of 4.8 percent at the turn of the year.

The price of some watches increased by as much as 14 percent, such as the white gold Daytona.

The rise in the price of gold is estimated to be the reason for the price increase.

The prices of used Rolex watches, on the other hand, have fallen by 4.9 percent.

Rolex brand the prices of watches are rising rapidly, which reflects the demand for high-end consumer goods.

The prices of the luxury brand’s wristwatches rose by an average of 4.8 percent at the turn of the year, according to the watch market follower Italian Watch Spotter website. The price of some watches in the popular Daytona series increased by as much as 14 percent.

The brand usually changes list prices only once a year, writes the financial media Bloomberg. That’s why the trend at the beginning of January has become a measure of the price of luxury goods.

You can get a Swiss value watch on your wrist at the cheapest new price of around 6,000 euros, but the flagship models cost on Monday on the Rolex website 150,000–170,000 euros.

 

 

The watches of former American football star Tom Brady were sold in New York in December. Patek Philippe watch on the left, Rolex on the right.

Rolexin communication did not comment on the reasons for the price increase to Bloomberg.

The international media estimate that the root cause is the rise in the price of gold, because Rolex uses valuable 18 carat gold in its watches. The price of the valuable element rose by 26–27 percent in a year, according to the figures Forbes mixed CNN.

Gold is a safe haven in the investment market because it retains its value in an uncertain global situation. The price of a troy ounce, or about 31 grams, which is used to weigh gold, reached a record high of around 2,600 euros in November, while at the beginning of the decade it was around 1,400 euros.

Italian Watch Spotter analyzes that the new price tags will not drive away customers, however, because the fluctuations of tons in the purchasing power of the luxury sector do not weigh much.

“Price increases do not lead to the loss of customers, but become a key strategy,” the watch website interprets.

 

 

The logo of the Rolex official store photographed in Tokyo, Japan in spring 2023.

To the same the price of used European value watches has fallen at authorized sellers, news reports Yahoo Finance.

The main securities had a total drop of 5.1 percent. For Rolex, the drop was 4.9 percent.

According to the expert, the price increase of new watches is still good for the second-hand market.

“Typically, when Rolex implements price increases, it strengthens demand for pre-owned models as collectors and first-time buyers look for valuable options without compromising on quality and value,” said the CEO of marketplace Bob’s Watches Paul Altieri Yahoo Financelle.

CEO of watch site WatchCharts Charles Tian added to the same news service that the price of new Rolexes has not actually changed when taking into account inflation, i.e. rising consumer prices.

“If Rolex continues to raise selling prices, as it has done almost every year this decade, and pre-owned prices continue to fall, then a significant number of former new buyers may opt for pre-owned.”

That, in turn, can increase the prices of old watches. So, in practically every Rolex scenario, the price and value of the watches will increase.

Luxury knows no crises, Italian Watch Spotter sums up.

Correction 6.1. 12:36 p.m.: In the caption of the picture in the middle of the article, the left watch was wrongly named Rolex. It’s a Patek Philippe.

Correction 6.1. at 3:10 p.m.: The article first wrote about a 28-gram ounce, the correct term is about a 31-gram troy ounce.

By Editor

One thought on “Rolex watch prices went out of control”

Leave a Reply