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.
Rolex is a well run company that makes excellent products that is free to raise their prices all they want whenever they want. For that matter, they should have doubled their prices. Until they make their sports steel models available at the Authorized Dealer, and get the AD’s to treat customers like we are valued by the brand, then as Clark Gable said in Gone With The Wind: “frankly dear I don’t give a damn!”
Acquiring the stainless steel professional series have proven to be one of the most lucrative purchases I’ve made. A rare gift that keeps on giving!