Rolex retail prices set to rise 7.4% in the UK
If a Rolex watch has been on your agenda for a while, it might be the perfect time to treat yourself to one before the year is out.
The brand is set to hike retail prices in the UK by an average of 7.4% from January, 1.
The expected rise follows a summer which saw popular watch brands bump up their prices due to a pound that looked considerably weak against foreign currencies - particularly the Euro and American Dollars - as a result of the Brexit fallout fiasco.
It was reported that buyers from the United States had been getting great deals on Rolex watches by taking advantage of tax-free shopping when travelling abroad.
Those visiting the UK, especially with American dollars, are keen to buy here as they are able to claim back the 20% VAT (value added tax) on watches.
It was only in October 2018, that Rolex increased its UK watch prices by 5%. This had little effect on the pre-owned market but a worldwide Rolex price increase is sure to see pre-owned prices rise.
The 7.4% increase is an average rise, so we would expect to see a Rolex Day-Date in 18ct white gold increase by over £2000.
What the rise means for customers
But even with the rise, rebate-eligible prices for watches bought here will still mean major savings for travellers.
And of course, the brand are well aware of the fact that they have major waiting lists for some limited models and know that collectors are willing to pay the price.
What is unknown is if Rolex price increases will be coming to other markets as well, especially as the resale value of some Rolex watches are considered low.
Clearly, Rolex watches have been increasing in cost for decades and are now more expensive than ever – but this trend shows no sign of slowing down.
Rolex - a good investment piece?
While you may think the initial outlay is steep for your new purchase, there’s always the hope that it will increase in value as the years go by.
Take the value of the Rolex Lady-Datejust for example. It’s value grew by 186% between 1994 and 2016. In total the price increased by around £3700 during this time.
So whether it’s a nest egg for your grandkids, you’re after some luxury for yourself or you simply want to buy and resell to make cash at a later date, Rolex will remain a popular choice.
Find your new watch
If you’d like help to find a rare Rolex or you’re after a Batman of your very own, contact our experts here at Luxe Watches.
We have a large stick of new and pre-worn luxury watches and can also help you sell your Rolex.