Rolex Price Increase: Rolex is a timeless symbol of luxury and achievement, earning global recognition as the most prestigious watch brand. Known for its exceptional craftsmanship, precision, and innovation, Rolex has a rich heritage of producing exquisite timepieces highly sought after by collectors and aficionados.
In this article, we’ll explore the updated price list for all of Rolex’s most beloved models this year and delve into the potential future benefits of owning a Rolex timepiece as an investment.
Rolex Price Increase: Latest Updates and News
It’s important to note that all these prices were noted on New year’s eve of this year.
- Previous price: £6150
- New price: £6250
- Increase by: 1.6%
Cosmograph Daytona (Oystersteel, 40mm)
- Previous price: £12150
- New price: £12500
- Increase by: 2.9%
Cosmograph Daytona (Oystersteel and Yellow Gold, 40mm)
- Previous price: £15100
- New price: £16100
- Increase by: 6.6%
Cosmograph Daytona (Oystersteel and Everose Gold, 40mm)
- Previous price: £25650
- New price: £26500
- Increase by: 6.6%
Explorer (Oystersteel, 36mm)
- Previous price: £6000
- New price: £6100
- Increase by: 1.7%
Explorer (Oystersteel and Yellow Gold, 36mm)
- Previous price: £9350
- New price: £9900
- Increase by: 5.9%
- Previous price: £7900
- New price: £8100
- Increase by: 2.5%
Submariner (Oystersteel, 41mm)
- Previous price: £7500
- New price: £7700
- Increase by: 2.7%
Submariner Date (Oystersteel, 41mm)
- Previous price: £8450
- New price: £8650
- Increase by: 2.4%
Submariner Date (Oystersteel and Yellow Gold, 41mm)
- Previous price: £12350
- New price: £13150
- Increase by: 6.5%
Submariner Date (Yellow Gold, 41mm)
- Previous price: £31850
- New price: £32900
- Increase by: 3.3%
GMT Master II
GMT Master II (Oystersteel, 40mm)
- Previous price: £8850
- New price: £9000
- Increase by: 1.7%
GMT Master II (New model 2022)
- Previous price: £9400
- New price: £9600
- Increase by: 2.1%
GMT Master II (Oystersteel and Everose Gold, 40mm)
- Previous price: £12750
- New price: £13600
- Increase by: 6.7%
Milgauss (Oystersteel, 40mm)
- Previous price: £7700
- New price: £7850
- Increase by: 1.9%
Oyster Perpetual 36
- Previous price: £4800
- New price: £5100
- Increase by: 6.3%
Rolex Deep Sea (New Model 2022)
- Previous price: £11900
- New price: £12210
- Increase by: 2.6%
Sea Dweller (Oyster Steel and Yellow Gold, 43mm)
- Previous price: £14300
- New price: £15150
- Increase by: 5.9%
Sky-Dweller (Oystersteel and Yellow Gold, 42mm)
- Previous price: £15300
- New price: £16300
- Increase by: 6.5%
DateJust 41 (Oystersteel and Yellow Gold, 41mm)
- Previous price: £10850
- New price: £11600
- Increase by: 6.9%
DateJust 36 (Oystersteel and Everose Gold, 36mm)
- Previous price: £9750
- New price: £10450
- Increase by:7.2%
Yacht Master II (Oystersteel , 44mm)
- Previous price: £15750
- New price: £15700
- decrease by:0.3%
- This was the only price reduction
5 Reasons Why Rolex Is a Good Investment
With a rapid and consistent increase in the price of luxury watches over the years, it seems like a wise financial decision to invest in them.
Diving deeper into the facts, Rolex prices went up by 7.4% in 2021 and later faced a further price hike in the second quarter of 2022 by 4.2%. These price hikes have also increased the value of the pre-owned market for Rolex watches.
Below, we unveil the secret 5 reasons why Rolex watches will continue to experience a price increase in the years to come and is a solid investment option.
1. Model, Innovation, and Technical Upgrade
Rolex timepieces are generally valuable for their excellent craftsmanship. Each watch is manually put together through rigorous testing to ensure it satisfies Rolex’s requirements for precision and dependability.
However, each watch is value highly depends on the model and its features. For instance, Submariner, Daytona, and GMT series are vintage classics with admirable values.
If we look at Submariner closely, it was explicitly created for experienced scuba divers. Numerous people have copied it as a luxury water and tool item and has an ideal water resistance of 660 feet per 200 meters.
Changes with time were made, such as high steel quality, replacing aluminum bezels with exquisite ceramics, etc., making the watch a sophisticated treasure of the elite from diving gear. Today, it’s a premium item and a fashion accessory.
2. Limited Production, High Demand
Each year, Rolex only makes a certain number of watches, some more uncommon than others. For instance, the Rolex Daytona model is in high demand but was only occasionally manufactured in the 1960s and 1970s. Due to its rarity, it has great value today.
In addition, Rolex frequently releases new models in small numbers, which can increase demand among collectors and a sense of exclusivity.
Yet, despite a sharp increase in demand, there has been a painfully low supply of watches since 2016. Due to supply chain issues and the pandemic in 2019, this shortage is anticipated to continue.
As a result, retail vendors won’t lower their prices, and the resale market will be worth more than it is right now.
3. Expensive Base Material
With its signature material, Rolex manufactures aesthetic watches that maintain the premium value it has to offer. These materials include oyster steel, ever rose gold, cerachrom, and chroma light.
Such materials prolong the life of watches and keep them new and shiny even after years of manufacture. Jewels, at times, were also included.
The visual appeal and the value of these expensive base materials themselves can significantly contribute to the increase in prices.
4. Reference Number and Functionalities
In the vintage market, you can set apart your Rolex by its unique reference number and quality. With these features, the brand is more expensive than others in the market and may significantly impact the price rise of your Rolex watch price hike.
For instance, GMT Master 2 has a resale value of above 118%, but why? Because it allows pilots to change the local time without stopping the watch or the 24-hour GMT hand.
Another example includes the Submariner with this word written in red. It’s now written in white in the newly manufactured ones; hence the price of the old ones has increased significantly due to their rarity.
5. Historical Context and Celebrity Influence
Collectors highly prize several Rolex models that have historical importance. For instance, James Bond frequently wore the Rolex Submariner, initially created as a tool watch for experienced divers.
The Rolex Daytona was designed with racing drivers in mind and has been linked to notable racers like Paul Newman. John Mayor also endorsed Daytona, which greatly increased the demand for that particular product in the secondary market.
The value and appeal of these watches have increased due to these associations.
Will Rolex increase prices in 2023?
Yes, Rolex’s prices have risen in 2023. The average increase in price across all collections is 3.45% or $733 per reference. It is unknown whether Rolex will raise its prices in the future.
Is Rolex still a good investment?
Rolex watches are a good investment, according to multiple sources. Over the last decade, they have outperformed other investments such as stocks, gold, and real estate. Even in a down market, many popular models continue to command double or more the retail price. It is important to note, however, that supply and demand issues can impact the value of these watches.
What are the Rolex predictions for 2024?
Many watch experts dropped Rolex 2024 predictions, but they all had to do with new models, renewed models, etc. As for the price changes, most experts had nothing to say because the changes rely primarily on the market’s performance in 2023.
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