Rolex price increases for 2023
Luxury watches continue to be in high demand despite economic cutbacks and global recession as investors turn to real assets instead of stocks and cash. Inflation is growing, influencing watch prices everywhere.
But whilst the supply chain of the watch industry is still facing the repercussions of the pandemic, timepieces are still in big demand with watch collectors keen to make investments, especially in the Swiss brands.
Rolex typically adjusts its prices periodically, and these adjustments can be influenced by various factors including inflation, production costs and market demand.
For the past few years – usually on January 1 – there has been an increase and while there was speculation that Rolex might hold any rises for 2023, this hasn’t been the case.
Rolex price increases 2023
The average Rolex price increase for 2023 averages at around 2.5% – but slightly higher for the UK.
And while the jump may be frustrating for collectors who have been saving up in anticipation of a call from a dealer, it’s no surprise given soaring inflation and cost of materials.
On a year to year basis, when you compare January 2022 to January 2023, there are some significant UK price increases of up to 11.3% depending on the materials the watches are made from. Here are some of the most popular models:
|2022 to 2023 increase
|GMT Master II
|Submariner (no date)
Whilst the change from 2022 to 2023 is fairly small, when you look at the last three years – 2020 to 2023, the price rise looks more like 20%.
Submariner and Day-Dates are most impacted overall but it’s clear that the prices for steel, two-tone, Rolesor and sporty models have also leapt up.
Are Rolex watches still a good investment?
Over the last decade, Rolex has outperformed other investments such as stocks, gold and real estate. Even when the market is down, many of the popular models continue to command more and more money. It is important to remember that supply and demand issues can seriously impact the value of these watches.
Here at Luxe Watches, we would suggest good investment pieces for 2023 might include
the Daytona, GMT Master, Submariner and Explorer.
Rolex watches are a good investment because they have low supply, high demand, and anticipated price increases. What is clear, is that while there may be various reasons for individual price rises on specific models, Rolex watches are getting more expensive and will continue to do so.
Need help to choose a Rolex?
Before investing in a Rolex, consider the watch’s future collectability, metal type and condition.
If you need help to find your next Rolex, our team can help.
Likewise, if you’re looking to sell a Rolex, we would be keen to see it and can offer you a competitive market price following an authenticity and condition inspection.