Rolex Retail Price Increase in 2024

The new year of Gapjin has arrived. Around this time every year, Rolex enthusiasts anxiously await the news they are most curious about. As in the previous year, News of a Rolex price increase was announced on January 1 this year as well. With the prices of gold and other raw materials, As well as the overall cost of living, Continuing to rise, There seems to be no reason for luxury watch retail prices to remain unchanged. Compared to last year, Which was considered a relatively moderate increase, We have carefully compared this year’s rate of increase at VIVER.

How much did prices increase?

Rolex Main Professional Model Price Changes ⓒ VIVER

Unlike last year, When steel and gold models saw different rates of increase, This year’s price hike is a uniform 8 to 9 percent across the board. While the percentage is similar, Gold models, Which have a higher base price, Saw increases of up to 4 to 5 million KRW at once. The Daytona 126500LN has now officially entered the 20 million KRW range, And all Submariner Date models are now priced between 14 and 15 million KRW. Even the Explorer 1 40mm, Considered the most entry-level of the Rolex Professional line, Has surpassed 10 million KRW.

Rolex Main Classic Model Price Changes ⓒ VIVER

Rolesor models, Which are strong performers among classic watches, Also saw an 8 to 9 percent increase. The Datejust series saw increases of over 1 million KRW across all products, With the 41mm Rolesor model now exceeding 20 million KRW. The Oyster Perpetual, Available only in steel, Is now approaching 8 to 9 million KRW, And the Day-Date, Which uses only gold, Has seen an even more significant increase.

Significant Price Increase Compared to 2023

Compared to 2023, When the price increase was relatively modest, This year’s hike is quite substantial.
Looking back at the steady increases from 2007 to 2012, Some believe that last year’s small increase made this year’s hike somewhat expected. Amid ongoing inflation and luxury brand price increases, The reaction to the Rolex price change is that “it was bound to happen.”
Today is still the best day to buy a luxury watch remains true.

Consecutive Price Increases for Tudor

In January 2023, and again in September, Tudor, A brand under Rolex, Raised its prices and has joined the 2024 price increase trend. The rate of increase remains around 2 percent, Which is not large, But as the saying goes, Many drops make a mountain, And compared to early last year, Prices have risen by nearly 500, 000 KRW.

Tudor Main Model Price Increase ⓒ VIVER Index

How is the Secondary Market Responding?

The rise in retail prices naturally leads to increases in the secondary market. So far, There has been little impact on the prices of products listed on VIVER, But from the end of last year to January 1, Existing listings sold out very quickly.
At VIVER, We can accurately determine the year and month of stamping for listed products, Which is helpful for consumers making decisions during times like this. We hope you enjoy your watch collecting journey with VIVER throughout the year.