Rolex price increase is good news for pre-owned

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The recent price increase is good news for the pre-owned watch market, according to Watchfinder.

The pre-owned watch retailer has said that increasing the price of new Rolex timepieces will have a knock-on effect for the second-hand market as consumers will have increased confidence that buying a Rolex watch will be a solid long-term investment.

Watchfinder director Matt Bowling said: “I’m in favour of the price increase, it’s fantastic for the pre-owned market. It strengthens the argument for Rolex and it drives new sales as when people buy them they see they will be worth more down the line.”

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Bowling said that this is a theory that applies to other brands, and that price increases on new models generally delivers a boost to the pre-owned timepieces already on the market.

The price increase on Rolex models came into effect last Monday with UK retailers reporting that average prices have gone up by about 7%.

 

 

 

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