Rolex raised its prices at the beginning of the month after freezing them since 2020.
Increases are relatively modest overall, but the most popular, supply-constrained, steel watch prices have been given considerably larger hikes than their equivalent models in precious metals.
Rolex’s steel Submariner in Oystersteel with no date has jumped in price by 13.5% from £6,3000 to £7,150, but the comparison is to the older 40mm model as the watch was relaunched in 2020 in a new 41mm style and the 3230 automatic movement with 70 hour power reserve.
By comparison, the 18ct white gold Submariner (ref. 116619LB) increased in price by just 5.9%.
The difference in price rises is even more stark in the Daytona family.
Rolex’s Cosmograph Daytona in white gold (ref. 116519 LN) has gone up by just 2.9% from £31,550 to £32,250, including VAT.
The unicorn version of the same watch, the Daytona 116500LN in Oystersteel, rose in price by 10.5% from £10,500 to £11,600.
The Oystersteel Batman, Rolex GMT Master II (ref. 126710 BLNR) has risen from £7,750 to £8,400 (+8.4%) while a Yacht Master in gold is up by just 2.3% to £22,400.
Most other references in precious metals or bi-colours have risen by around 2-3%.