The average Rolex retail prices have gone up by 12.1% in the last two years

What is new for Rolex in early 2024? 

The year 2024 started with a notable event in the luxury watch market: Rolex increased its list prices (yes,again!). We have prepared a brief article that delves into the growth of retail prices over years and what might be expected in the future.

At the turn of the year 2024, Rolex showcased a special edition Day-Date with an enamel dial, crafted exclusively for the Vienna Philharmonic. Rolex has been a partner since 2008 and the exclusive sponsor of the renowned New Year's Concert since 2009. More details can be found in a previous post of ours.

The factors that motivate recent increases

The updates from Rolex extend beyond this new Day-Date dial. Following its annual tradition, raised the list prices for both its Rolex and Tudor models on January 1st 2024.

Factors like inflation and fluctuations in raw material costs compel many luxury watch brands to adjust their pricing annually. In recent years, these factors have significantly impacted the global economy, with the post-pandemic period witnessing substantial inflation in the United States and Europe. Geopolitical tensions have also contributed to the rising costs of raw materials and energy. In 2023, however, thanks to Central Banks' interventions, inflation rates decreased, leading to more modest list price increases compared to the previous January. The average price hike in 2024 was 4%, significantly lower than the 7.8% increase that we all saw and suffered in 2023.

Extensive research by companies like Watch Analytics over the past years has enabled us to compile the list prices of most Rolex models as of January 2022, November 2022, January 2023, and now for January 2024 too. These prices are based on the Italian catalog and are expressed in Euros(€), though slight variations may exist in other countries, in Europe and outside of the EU, due to different TAX and VAT systems.

Last 2 year price variation and 2024 prices

Please see a table below where you can see the price changes of specific Rolex models during the past two years.

Rolex current and future pricing strategy

In our view, Rolex's pricing strategy is influenced by two primary factors: the direct costs of production, including inflation, raw materials, and energy, and external factors like market trends, demand flunctuation, and brand positioning.

While economic forecasts predict a slowdown in inflation and possibly lower production costs, which might not contribute to price increases at the end of 2024 and 2025, the brand's marketing decisions and the secondary market's influence ( as seen in the substantial increases for models like the Daytona and Oyster Perpetual) may continue to play a significant role in future lists.