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.
Rolex is a brand whose name reiterates beyond the boundaries of the luxury watchmaking industry.
The term “Rolex” is today synonymous with the ultimate luxury, class, quality and precision.
Ever since Hans Wilsdorf founded it in 1905, the brand transformed the synopsis of the wristwatch industry with its major watchmaking innovations.
Over the years, Rolex watches accompanied the wrists of several pioneers, athletes, explorers and divers, conquering both land and sea.
Rolex is indeed recognised and cherished for its consistent pursuit of eminence, absolute precision, and metamorphic innovations.
The young entrepreneur Hans Wilsdorf at the age of 24, founded a watch company in 1905, along with his brother-in-law Alfred Davis.
However, the company initially named as “Wilsdorf and Davis” specialised in the distribution of watches to the jewellers.
Eventually, some earlier timepieces produced often came with the engraving “W&D” on within the case-back.
Interestingly, Hans Wilsdorf started to dream of wristwatches. Now:
The fact is that wristwatches were not popular or precise during the dawn of the 20th century.
And Wilsdorf began equipping his resolute timepieces with these movements for convincing the public of their reliability.
The year 1908 was significant for the brand. Hans Wilsdorf filed the name “Rolex” as a trademark.
So, why is Rolex called Rolex? Or how did the term Rolex originate?
The legend says that Wilsdorf wanted to give its timepieces a short and easy-to-pronounce name.
However, Wilsdorf finally chose the word “Rolex” because it also resonates like a timepiece being wound.
He said that he was riding one morning along the Cheapside in the City of London on a horse-drawn omnibus. At that time, a genie whispered the name “Rolex” in his ear.
Hans Wilsdorf had am unabated quest for absolute chronometric precision. Thus, the brand first focused on the movement’s quality.
In 1910, a Rolex watch acquired the Swiss Certificate of Chronometric Precision. It was the world’s ever first wristwatch to receive the certificate from the Official Watch Rating Centre, Bienne.
The Kew Observatory in Great Britain awarded a Class “A” Precision Certificate to a Rolex watch in 1914.
However, this certificate was exclusively offered to marine chronometers.
From that date onwards, Rolex watches became synonymous with precision.
Wilsdorf had to leave England because of the wartime taxes that were imposed on luxury assets in 1919.
Eventually, the price of gold and silver increased, and Rolex watches also became too expensive.
Thus, Rolex relocated in the globally-renowned watchmaking city, Geneva. Later, Wilsdorf registered Montres Rolex S.A. in 1920 in Geneva.
Rolex produced the first water-resistant wristwatch in 1926. The watch came with a hermetically sealed case dubbed as “Oyster” that offered optimal protection for its movement.
However, the Oyster case is considered as one of the biggest innovations not only in the brand’s history but also in the watchmaking industry.
Overall, the watch boasted a classic aesthetic featuring fluted bezel and case-back.
Hans Wilsdorf wanted to be more confident about its waterproof watch and the inner movement.
Thus, he implored the young English swimmer Mercedes Gleitze to wear one of these watches around her neck during the swim in 1927.
Rolex celebrated this significant success of its waterproof watch by publishing a full-page ad on the Daily Mail’s front page.
Rolex developed and patented the first self-winding mechanism of the world. Thus, Rolex introduced its first Oyster Perpetual watch in 1931.
This self-winding mechanism, along with a Perpetual rotor is one of the finest creations of Rolex that contributed significantly to watchmaking advancements.
Over the next 50years, Rolex released a series of models, and each of them became a classic for their compelling history and exclusiveness.
Trusted watch buyers at The Luxury Hut provide a secure and straightforward way to sell Rolex watches online or via appointment in London.
Our expert evaluators continually keep track of the changing market trends and prices of the pre-owned Rolex watches. Thus, you can rest assured that we will buy your Rolex watch for the best possible price in London.
Thus, get in touch with us at The Luxury Hut today to sell your Rolex watch.
If you consider the design in general or technological innovation, the 1980s were not a good time for watchmaking.
However, the 1980s was life-changing for Rolex. The brand’s reputation built up slowly and meekly around several stylish and precise tool watches.
With the appearance of the quartz crisis, the brand was compelled to upturn its approach entirely.
But this Swiss-based manufacturer was never the one to set out to throw out the past designs.
However, many Rolex watches from the 1980s are not regarded yet as vintage. Thus, these watches ideally don’t bear similar prestige as the models from the 1960s and 1970s.
Moreover, they also don’t have the modern appeal of the contemporary or the late 1990s models.
Nonetheless, some of these watches from the 1980s are yet more desirable than its counterparts.
Let’s today have a look at four of the unacknowledged Rolex watches of the 1980s era.
The 1970s era wasn’t a time for over-bright and big things. However, a significant statement piece made its place in the 1980s in the form of gold Rolex Day-Date.
However, the solid gold Rolex Day-Date with Presidential bracelet was more cherished by collectors.
The watch featured bark-textured centre links, a Tiger’s Eye dial and bark-textured bezel.
What’s appealing of the reference 18078 is the dial’s simplicity.
The stone dial has only the printed text and applied crown without any indices.
The Rolex Submariner reference 16800 is a little confusing because of its price.
The ref. 16800 is known to be the best “old” Submariner in several aspects.
The watch was ideally the first model to feature the quick-set Calibre 3035 and also, a sapphire crystal.
Moreover, the Submariner 16800 also sported Tritium luminous plots.
Overall, the combination of the retro-elements makes the watch more valuable than the reference 5513 and desirable for regular wear.
The Rolex Datejust Reference 16234 can be considered as an ideal “first Rolex” for novelties.
The Datejust watches from the 1980s are robust and clean with exclusive variants.
For example, this Rolex Datejust 16234 features the exclusive Tapestry silver dial.
However, the watch comes with a 36mm case diameter.
Although it may not feel as firm as the vintage references of Air-King, the 36mm is yet a versatile case size that will ideally sit comfortably on all wrists.
Rolex introduced the GMT-Master II with the “COKE” bezel in 1983.
The GMT-Master Coke watch was not only a great thing to have in the 1980s but also a coveted model yet in the pre-owned market.
However, reference 16760 paved the way for independently adjustable hour hands in the brand’s lineup.
While the watch sported a slightly broader case, it became popularly known as the “Sophia Loren” or the “Fat Lady”.
However, Rolex offered the watch a thicker case to house the upgraded, new Calibre movement.
Get in touch with one of the trusted watch buyers in London – at The Luxury Hut.
Simply, fill up this online form, providing all details about your luxury watch. Receive a free competitive quote shortly.
With The Luxury Hut, you can rest assured you will sell your Rolex watch in London for the best price possible in the second hand market.
The important news now out of Geneva is that Rolex ceases its three production factories in Geneva, Bienne, and Crissier for ten days due to the worsening Coronavirus pandemic. It is effective immediately from 5:00 CET, Tuesday, March 17, 2020.
Jean Frederic Dufour, the Rolex CEO, officially announced it via a letter to its employees. Rolex is ideally the first leading Swiss watchmaker to avow such a move.
The brand is expecting to resume the production on March 27, 2020. However, if the COVID-19 crisis persists, the date could be pushed back.
The fact is that for the next week and a half till now, Rolex will no longer produce its watches.
Rolex announced its production closure on the day when the Canto of Geneva urged emergency measures where gatherings of over five people are banned outdoors and indoors.
Moreover, Switzerland also declared a “State of Emergency” on Monday.
Here’s a translation of the French text in Dufour’s letter:
“In order to protect you, your families, and your loved ones, but also to limit the risks of spreading the Coronavirus as much as possible, we have decided to close our production sites in Geneva, Bienne, and Crissier from March 17 at 5:00 PM through Friday, March 27, 2020. That date may of course be pushed back according to the evolution of the epidemic.”
According to reports, the number of individuals tested positive for the Coronavirus in Switzerland increased to 2,200 between Saturday and Sunday.
Moreover, the landlocked countries like Italy, Germany, Austria, and France are struggling with the outburst of novel Coronavirus.
Rolex is the first watch manufacturer to take such preventive measures. However, the brand is also in a leading position as the most valuable brand in the watch industry.
Whether it is about a new watch model or any official announcement, people look forward to it.
However, Switzerland has confirmed cases of 2,200 as of March 16 in comparison to about 28,000 in Italy and 5,380 in France.
In response to the State of Emergency declaration on Monday, every shop, restaurant and entertainment facility has to shut, except grocery shops, pharmacies and any healthcare facilities.
Rolex decided to stop the production for protecting its employees and their families and eventually helping to reduce the spread of Coronavirus.
However, other Swiss watchmakers are also likely to shut down the production based on the current worsening situation in the country.
Rolex watches are among the most expensive items sold at auction. Additionally, many popular models possess multi-year waiting lists at the retail market.
Although the production process ceased for only 10days, it won’t help in increasing the supply in any way.
Moreover, the Baselworld of this year has been postponed, and it will possibly be held in January 2021.
Thus, Rolex collectors and aficionados were wondering whether the brand will produce any new model this year.
Now, while all the three Rolex factories are temporarily closed, we can’t yet predict anything clearly regarding the launch of new 2020 models.
Let’s look forward to more details in the upcoming days.
Some Rolex watches are considered as underrated in the pre-owned market.
It can be pretty difficult to believe for such a brand that is universally recognised and whose watches retain value better than others. But it is indeed true.
If you delve into the archives, many pre-owned Rolex timepieces have remained comparative bargains for some reasons.
Maybe, that particular Rolex watch never had any association with notable names. Or while Rolex may have produced the model for a long time, there are many iterations of them in the market.
However, the interesting fact is that these watches are unlikely to remain underrated forever.
The vintage industry of Rolex typically gets stronger every year. Collectors seek for more eccentric pieces because of their unique aspects.
You never know that today’s underestimated watch can be a significant thing tomorrow.
Let’s today take a quick look at three underrated Rolex timepieces in the second hand market.
The Rolex Milgauss is typically placed in the category of less fashionable models, similar to the Air-King.
Rolex originally designed the watch, especially for the engineers and scientists.
However, the watch has recently allured many admirers with its redefined looks and incredible antimagnetic abilities.
In 2014, Rolex replaced the black and white version with a second green-sapphire model featuring an electric blue dial.
Referred to as the Z-Blue dial, it flaunts a mixture of colours, including an orange minute track and bolt seconds hand.
The Rolex Submariner is indeed one of the most legendary divers watch ever made.
And the Submariner reference 16610 is ideally considered as the “last of the best” to feature the classic profile.
Later, Rolex upgraded the collection and introduced the Super-Case Submariner stainless steel in 2010.
Thus, the ref. 16610 is cherished and desirable among all vintage collectors.
However, the watch stays underrated for some reasons.
The ones in good working condition will get scantier with time and eventually, it will turn to be more valuable.
The Rolex Air-King 5500 is ideally the clearest example of an underrated model.
Although Rolex continued to produce the watch for about 37years, it is often cited as the “forgotten Rolex”.
However, the brand launched the Air-King’s fourth generation in 1957.
The Rolex Air-King 5500 is a robust yet elegant model that can persist a lifetime, featuring an old-school clean look.
Although it is undervalued, the reference 5500 is yet considered as a highly fascinating vintage model. We can expect to see its value only increased in the coming days.