08.01.2024 - Rolex

Rolex price average increase up 4-5% in the UK 

As we start 2024, Rolex has already updated its new prices for the year – and they’re slightly up on the usual RRPs.

But it appears this is only for those of us in the UK. Our friends in the US and in Switzerland have no price changes, according to reports from Bloomberg, so it may be time to freshen up those passports if a Rolex is on your wishlist this year.

With Rolex only usually raising prices each new year, it was noted that the brand increased its prices twice in the UK back in 2022 as the pound reached a very low point against the dollar.

But other European countries were also hit with the double whammy.

However, the increase of an average of 4% for UK buyers – in line with the recent inflation rate Pepsi GMT Master II (Jubilee of 4.3% – will still be a relief to watch collectors, who saw a giant leap of between 7 and 11% for models from January 2022 to January 2023, with two-tone materials taking the biggest hit.

With US prices remaining very similar, perhaps Rolex senses a decline in the secondary market.

GMT Master II, reference 126713 Here we take a look at some of the price changes affecting the UK market.

New prices for 2024

Here are the new prices for some of our favourite models here at Luxe Watches:

  • Submariner No-Date, reference 124060 was £7,700 in 2023, now £8,050 – an increase of 4.5%
  • Pepsi GMT Master II (Jubilee) was £9,150, now £9,550. (+4.3%)
  • GMT Master II, reference 126713 was £13,850, it’s now on sale for £14,600 (+5.3%)
  • Explorer 36 reference 124270, was £6,100 now £6,300 (+3.2%)
  • Cosmograph Daytona (two tone) reference 126503, was £16,400, now £17,300 (+5.5%)

In general, the watches made of stainless steel are seeing an average increase of 2 – 4%, while anything with precious metal or gems is more like 4-5%. With more people saying no to the price increases because they’re still struggling with the cost of living and sky-high energy bills, this could mean more availability could get those better for those willing to stick in there for the long haul. Hopefully your call is coming!

What do we predict for 2024?

Rolex is now a retailer having bought Bucher in 2023. It’s going to have to attack the year from a new angle. We hope this might mean the introduction of a blue dial Bucher watch? A stainless steel Submariner in blue, perhaps? Supplying only for the retailer would make sense.

Is the Coke bezel on its way? It’s the only one still missing. There’s still trouble with making the bezel. Perhaps the Pepsi is finally on its way out this year. It would be shocking to see it discontinued but it has been talked about for some time now.

We would love to see more in Titanium, we saw the Yachtmaster last year which was perfect. 

It’s a great metal for watches, it wouldn’t even need to be a sporty offering. 

Last year saw the puzzle dial, the emojis… What crazy watch is in store for 2024? We can’t wait to see at Watches and Wonders 2024.. It’s definitely nice to see Rolex breaking out and doing something different. 

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