Rolex started 2022 by raising prices for certain watches – Robb Report

Buying a new Rolex has just gotten a little more expensive.

Professional Watches detectives noticed that a number of classic watches from the Swiss watchmaker suffered price hikes on New Year’s Day. For example, the price of a 41mm stainless steel Ref. The 124300 Oyster Perpetual, which you could buy for $ 5,900 in 2021, now sells for $ 6,150 in the US market. Longtime (or deep-pocketed) collectors may not shy away from this 4.2% increase, but the Rolex Submariner is a different story. The Ref. 124060 received a 10.5% increase from $ 8,100 last year to $ 8,950 today.

What is interesting here is that these are not resale prices. Still, with all the frenzy in the aftermarket for coveted Rolex examples, pundits last year spoke of reasons that might explain why we’re seeing spikes in retail prices for Rolex models today. “Prices have increased by 30% almost in all areas of not only Rolex’s’ regular ‘hot sports models, but of all models, from ladies’ models to Datejusts and Cellinis,” said Tim Stracke, co-CEO by Chrono24. Robb Report in an email last year. “Values ​​continue to climb very strongly. “

A 1968 French Rolex Daytona JPS.


But it’s not just vintage watches that are getting harder and harder to get your hands on. New Rolex watches are increasingly difficult to find, especially in stores, but the company said the current low supply (and resulting high demand) is not an intentional shortage.

“The scarcity of our products is not a strategy on our part,” Rolex said in a statement in September. “Our current production cannot meet existing demand exhaustively, at least not without reducing the quality of our watches – which we refuse to do because the quality of our products must never be compromised.” To suffice, the brand now supplies its dealers with display replicas to avoid empty sales areas, according to Wrist Advisor. The dupes are not for sale, but they are equipped with their appropriate movements.

Source link