Rolex Price Increase

The secondary market price of Rolex, Which showed a steady downward trend until the end of 2022, Now appears to be rebounding. There are various factors affecting the price changes, Such as the Rolex retail price increase in January 2023, The new Rolex collections unveiled in the last week of March, And the discontinuation of certain models. Let us take a look at the changes in Rolex prices since the VIVER report in January.

Main Models
January 2023 VS April 2023
Price Comparison

ⓒ VIVER Index

The average resale market price of current models not related to discontinuation has also increased. All rates of increase are based on the price in the third week of April 2023 compared to January 2023.

Price Changes of Discontinued Collections

There were significant changes in the Rolex collection with the opening of Watches and Wonders 2023 in March. With the unveiling of the next-generation Daytona and Sky-Dweller lineups, Previous models were all discontinued, And Milgauss and Cellini were announced as discontinued rather than replaced. Discontinuation of a collection means an increase in rarity as no more current models will be produced.

Daytona Ref. 116500LN
Black 9% ▲, White 13% ▲

Daytona Ref. 116500LN, Which has undergone subtle but significant changes, Continues to command a high premium despite the downward trend in watch prices, And has shown a gradual price increase since the discontinuation announcement. The resale price dropped to the 30 million KRW range in January 2023, Making it almost disappear from the market. Compared to January, The black version increased by about 9% and the white version by about 13%. Among professional watches, It is undoubtedly the one with the highest premium. The white dial continues to show an upward trend, So it is expected that transactions below 40 million KRW will be difficult for the time being.

Daytona 116500LN

40mm, White, Oyster

Daytona 116500LN

40mm, Black, Oyster

ⓒ revolutionwatch

Daytona Hulk Ref. 116508
9% ▲

The discontinuation of the green dial Daytona in yellow gold, Also known as the Daytona 'Hulk', Is even more special. With the transition to the next generation reference Ref. 126508, The green dial is no longer available, Making it even rarer. The green dial Daytona can now only be found on the resale market. As a rare watch coveted by Rolex collectors, The price temporarily soared after the discontinuation announcement but has since stabilized, Showing a 9% increase. The current premium is nearly double the retail price (49.59 million KRW as of January 2023), Forming a price in the high 90 million KRW range. In addition, Several special Daytonas have been discontinued, So the secondary market price continues to attract attention.

Daytona 116508

40mm, Green, Oyster

Daytona 116509

40mm, Bright Blue, Oyster

Daytona 116505

40mm, Chocolate, Oyster

Sky-Dweller Ref. 326934
4~5% ▲

The Sky-Dweller was also replaced with a next-generation lineup like the Daytona. However, Since the design is almost identical to the previous one, There has been no drastic price change. The average price of the blue dial + Jubilee bracelet model, Which has the highest price among the Sky-Dweller Ref. 326934 lineup, Increased by about 5%. This does not seem to be directly related to discontinuation, But rather reflects the gradual price increase that started earlier this year. 

Sky-Dweller 326934

42mm, Bright Blue, Jubilee

Milgauss Ref. 116400GV and
Cellini Ref. 50535
About 4% ▲

The Milgauss Ref. 116400GV lineup has been discontinued without a next-generation replacement. The most recently added Z-Blue model was directly affected by the discontinuation. The downward trend that continued until the day before Watches and Wonders reversed after the discontinuation announcement, And transactions were recorded with a price increase. The average price of used models increased by 4% compared to January, But it is still below the final retail price, Making it one of the few professional watches without a premium. The last Cellini model, Cellini Moonphase Ref. 50535, Has such low trading volume that it is difficult to collect price data.

Milgauss 116400GV

40mm, Z-Blue, Oyster

Cellini Moonphase 50535

39mm, White, Strap

Price Changes of Major Current Models

ⓒ revolutionwatch

Submariner
Ref. 124060 8% ▲,
Ref. 126610LN 9% ▲

The Submariner, A symbol of Rolex, Saw an increase in the average price for both Date and No Date models, Even without lineup reference changes or new model additions. The Submariner No Date, Ref. 124060, Has seen a gradual price increase since January 2023. As the most affordable model among current Submariners in both retail and resale prices, It is often the first Submariner for many. The average price of the Submariner Date Ref. 126610LN is now around 17.97 million KRW, Up about 9% compared to January. Due to frequent price changes from high supply in the resale market, It is easy to track price trends, Making it a key indicator for the overall resale market position of Rolex watches.

Submariner 124060

41mm, Black, Oyster

Submariner Date 126610LN

41mm, Black, Oyster

Submariner Ref. 126610LV
14% ▲

Submariner Green Ref. 126610LV ‘Starbucks’ has a lower average resale price than the previous reference 116610LV ‘Hulk’, But has shown a steady upward trend since February, With a sharp increase after Watches and Wonders. What is the reason?

The reason is the rumor of a bezel color change. There is speculation in various watch communities that the bezel color has been updated to a brighter shade similar to the Ref. 16610LV ‘Kermit’ for the 70th anniversary of the Submariner. Once the new watches are supplied domestically, These questions may be answered.

Submariner Date 16610LV

40mm, Black, Oyster

Submariner Date 116610LV

40mm, Green, Oyster

Submariner Date 126610LV

41mm, Black, Oyster

GMT-Master 2
Ref. 126710BLRO,
Ref. 126710BLNR 7% ▲

The blue and red bezel 'Pepsi' Jubilee bracelet model, GMT-Master 2 Ref. 126710BLRO 'Pepsigirl', Has been difficult to find in the resale market in recent months. While other professional watches have seen a gradual price increase, This model experienced a steady decline through February and early March, But is now rapidly recovering. Currently, It shows a 7% increase compared to January 2023, And it is expected that the products that disappeared from the market will gradually return to the resale market.

The GMT-Master 2 Ref. 126710 BLNR, Known as 'Batman', Has a lower premium than the Pepsi, But is still traded in the 20 million KRW range (55% premium). The price, Which fell below 20 million KRW in January 2023, Has recovered through February and March, And the premium is gradually decreasing again.

GMT-Master 2 126710BLRO

40mm, Black, Oyster

GMT-Master 2 126710BLRO

40mm, Black, Jubilee

GMT-Master 2 126710BLNR

40mm, Black, Oyster

GMT-Master 2 126710BLNR

40mm, Black, Jubilee

Will the Premium Continue to Rise?

After the sharp rise that seemed to have no end until early 2022, There was a period of decline. As this year began, The market seems to be stabilizing. However, Since watch prices are affected by so many variables such as supply, Trends, Consumer preferences, And the economy, It is difficult to pinpoint a single reason for these phenomena. We hope that following the market will continue to be an enjoyable way to study watches, And VIVER will continue to provide honest price indexes and trend analysis.