Rolex Raises Watch Prices in UK, While US Pricing Remains Stable
Rolex prices at UK dealers have climbed by approximately 4%, according to reports from Barclays analysts.
Entering 2024, Rolex has hiked its prices in the UK, while its US prices have remain unchanged, according to Bloomberg.
The watchmaker, revered for its highly sought-after timepieces like the Submariner and the Daytona, raised its prices at UK dealers by approximately 4%, per reports from Barclays analysts. Meanwhile, per the UK’s Watches of Switzerland Group PLC report, US prices have stayed the same, which could suggest that the company anticipates a decline in the secondary market.
Notably, in November of last year, Rolex’s prices fell to their lowest point in two years on the secondary market, per the Bloomberg Subdial Watch Index, which reports data for the 50 most-traded timepieces. The figure declined by 42% from its highest level in April 2022, thanks a continuously sliding demand for high-end watches.
Alternatively, however, the UK market’s price increase could simply reflect the difference in currency strength between the two countries. Rolex typically only raises its prices once a year in January. In 2022, however, the company raised its prices twice in the UK, as the pound reached its lowest point against the US dollar in several decades. That same year, Rolex also increased prices in European nations twice.
According to Morgan Stanley estimates, Rolex’s annual sales amount to roughly $10.5 billion USD, accounting for about 30% of the high-end Swiss watch market worldwide.
