Rolex’s new year price rises have come in at around 4% in the UK, WatchPro research confirms.
The increase is considerably lower than the 8.5% from 2022 into 2023 in Britain, as a weak pound and global inflation pressures forced the brand to pass on higher production costs to customers.
Rolex raised prices twice in 2022 in an effort to maintain margins as inflation started to bite and to iron out disparities between different markets caused by currency variations.
From the end of 2022 to the new prices from January 1 this year, prices have increased by an average of 12.5%.
Among the prices tracked annually by WatchPro, the new style 41mm no date Submariner in steel has seen the steepest rise of 4.5% to £8,050.
The cost of a bankable 41mm DateJust in steel rose by a more modest 2.2% to £7,100.
Rolex did not respond to WatchPro’s request for comment and confirmation of the price rises.