Rolex has increased its retail prices by an average of 7.4% in 2020. And it is no surprise that this price increase will also raise prices in the pre-owned market.
The price increase is already active from 1st January. This means Rolex watches have now become more expensive worldwide. However, the percentage of the increase may vary according to the country and also, the particular watch model.
The more interesting fact is that the United Kingdom has seen virtually high percentage upsurge like some other places such as Singapore and Hong Kong.
Watch collectors or aficionados who continually monitor the market in all depths are conversant with the fact that:
The price increase happens gradually throughout history. Watch manufacturers slowly raises the retail prices of their luxury watches.
And Rolex is one of the significant examples of this in the current years. The Crowned King of watches has firmly elevated its watch line more upmarket over time.
Rolex increased its prices in the UK in 2016 and 2018, continuing the trend too in 2020.
In the United Kingdom, prices have increased by 7.4% on average. However, the accurate figure will vary between the models.
For example, you can expect a Rolex Daytona in white gold to increase in price by nearly £1,500.
On the other hand, a white gold Rolex Day-Date will go up by over £2,000.
Well, Rolex may not have increased the prices just because of the increasing cost of platinum and gold. What do you think?
It can be a deliberate resolution to re-position some of its watches in the luxury market.
Rolex might be considering 2020 as an excellent time to persevere its exclusive strategy of making a more luxurious image.
However, the interesting fact is:
The crazy bump in Rolex prices in the retail market has eventually created an agitation in the second hand market, especially for models such as the stainless steel Daytona and many other coveted sports watches.
No matter what, the upsurge in Rolex prices has hardly discouraged any watch enthusiasts who have been on a long waiting list for many years.
In fact, the increase in prices has further strengthened the notion that a Rolex watch is a good investment.
Nonetheless, are you wondering how much your Rolex is worth? Then, check out our Rolex buying price guide or fill up our online form for a free competitive quote today.
© The Luxury Hut is a trading name of Golden Cash Limited. Authorised and regulated by The Financial Conduct Authority for pawnbroking. Registered in England as Golden Cash Limited. Registered Number is 07309335. Registered office address: Treviot House, 186-192 High Road, IIford, Essex, IG1 1LR. Designed and Developed by The Luxury Hut. All Rights Reserved 2018