Sudden Rolex Price Increase

At midnight on June 1, Rolex raised the prices of all its products. This is already the second price increase this year following January 1, And the unexpected timing of this sudden increase has had a significant impact on those waiting to purchase. However, Compared to the past when there were as many as three price increases in 2008, This may have been an inevitable decision in today’s era of high inflation.

How much did prices rise?

Submariner

The most basic model, The Submariner, Saw a significant increase of about 3% for steel models and 8% for gold models. The increase ranges from at least 500, 000 KRW to over 3, 500, 000 KRW for gold models.

GMT-Master II

The GMT-Master II also saw a price increase of 3% for steel models and over 6% for Rolesor models.

Daytona & Explorer

The retail prices of the Daytona and Explorer 1 and 2 models also rose by about 3 to 8%. With the Explorer 1 now exceeding 10 million KRW, All sports watches have surpassed the 10 million KRW mark.

Daytona 126500LN

40mm, White, Oyster

Daytona 126500LN

40mm, Black, Oyster

Explorer 1 124270

36mm, Black, Oyster

Explorer 40 224270

40mm, Black, Oyster

Main Price Changes in the Classic Line

Sky-Dweller

The Sky-Dweller, Which has been released as a high-end line with complex functions since its inception, Is now priced at over 77 million KRW for full rose gold and Jubilee models. Overall, Prices have increased by about 4 to 7%.

Sky-Dweller 336934

42mm, Bright Blue, Oyster

Sky-Dweller 336938

42mm, Bright Black, Oyster

Datejust

The Datejust, Which offers the most variations among Rolex models, Has seen an average price increase of about 4 to 6%. Models containing gold have seen a higher rate of increase. Prices for models not specifically marked in the table above refer to those with bar or Roman index models without diamonds.

Day-Date

The Day-Date, Which is released only in full gold, Has seen a 7% increase, But with a rise of 3 to 4 million KRW, The increase feels even more significant.

Oyster Perpetual

The Oyster Perpetual, Rolex’s entry-level model, Has seen a uniform 3% increase. The most affordable 28mm model is expected to soon exceed 8 million KRW. The 41mm model is now released at a retail price of over 9 million KRW.

Oyster Perpetual 34 124200

34mm, Silver, Oyster

Oyster Perpetual 36 126000

36mm, Turquoise Blue, Oyster

Oyster Perpetual 41 124300

41mm, Green, Oyster

Is the price increase due to gold prices?

Even though retail prices were raised by an average of 8 to 9% on January 1 this year, The main reason for another increase in less than half a year is widely believed to be the continued rise in global gold prices and the impact of inflation. International gold prices have surged by 14% this year, Once again confirming its status as a stable asset. Other watch brands, Which are also heavily influenced by gold prices, Have shown bold pricing policies this year. In fact, Products containing gold saw a greater increase than steel models in this price hike. Overall, Compared to retail prices in 2023, Prices have risen by about 11%. The saying that today is the cheapest day to buy a watch is becoming more and more true.

Tudor Holds Steady

After two increases in 2023 and a slight increase together with Rolex earlier this year, Tudor has not announced any further price hikes so far. However, Since price increases can come without warning, It is difficult to be completely at ease.

Sophie

Editor

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