Rolex has announced price increases for several of its most popular models, further incentivising potential buyers to “go grey” as aftermarket values continue to decline.
Effective from January 1st, the rise affected the majority of Rolex’s catalogue, including the fan favourite Submariner, which clocked a bump of 2%, with fellow steel and even platinum examples receiving a general 1% increase.
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The largest hike was reserved for Rolex’s solid gold models, including the elusive yellow gold Daytona, which surged significantly by 14%.
Rolex’s decision to raise retail prices amidst a declining aftermarket could be seen as a move to maintain dominance as the watch world’s biggest name, also considering rising production and material costs correlating with the increase in values for precious metals throughout 2024.
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Anyone familiar with the watch game and more specifically, Rolex as a brand, will be savvy to the dreaded “waitlist” that crushes the hopes and dreams of any first-time buyer hoping to get their desired piece within a reasonable timeframe.
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Whilst Rolex and its AD’s continues to cite “demand outweighing supply” as the leading factor for oft year-long waits, it still doesn’t stop aftermarket dealers from constantly stocking a full range of stickered models, presenting consumers with a serious dilemma between facing higher costs and wait times through an Authorised Dealer or looking to the secondary market for more favourable deals on pieces that are readily available.
According to Watch Charts, various Rolex models are currently trading equal to or below retail value, with seemingly impossible-to-obtain examples like the Rolex “Starbucks” Submariner falling by 7% over the past year.
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Rolex will present its latest novelties at the annual Watches and Wonders event this April, when we will gain a better understand of the brand’s strategy for the year ahead, with potential for a first-time collaboration more possible than ever, considering that brands like Audemars Piguet are going full throttle with partnerships involving the likes of Travis Scott and more recently, Kaws.
