As in recent years, luxury watch brand Rolex has started the new year with increases on the prices of some of their most popular watch lines.
A report by Barclays bank analysts has shown that the UK and US markets have seen price increases of between 1 and 3 percent on trending Rolex timepieces.
This year’s increases are smaller than those in previous years, according to the report. In 2020, Rolex raised prices by more than 3 percent.
The regular price increases are “a key feature of this industry”, stated the report, which added that “we believe it will have no discernible impact on [sales] volumes.”
The resale market for Rolex watches has not been as strong with the report indicating that secondary Rolex prices fell 12.3 percent last year. Despite this, Rolex announced it was selling “certified pre-owned” watches of its own brand in December. This represents a significant shift for Rolex whose timepieces dominate second hand sales both with dealers and online.