If you haven’t had enough of price increases just days into 2022, here’s another one we’ve got to share. Rolex has started off the year raising prices on select models. Professional Watches, an internet based publication focused on timepieces such as Rolex, reported that styles such as the Perpetual and Submariner increased by 4% and 10% respectively. To provide context, the 41 mm stainless steel Ref. 124300 Oyster Perpetual used to be $5,900, whereas now it’s marked at $6,150 USD. Meanwhile the Submariner Ref. 124060 went from $8,100 to $8,950.
We recently reported on the state of the luxury watch market, and that many buyers found it near impossible to purchase brands such as Rolex or Audemars-Piguet. With a critical shortage of stock, many thought to link the reality of rising prices with low supply. This, however, has been denied by the company, with Rolex issuing a statement in September stating that “the scarcity of our products is not a strategy on our part…Our current production cannot meet the existing demand in an exhaustive way, at least not without reducing the quality of our watches–something we refuse to do as the quality of our products must never be compromised.”
What do you think about this price increase? Will you be looking to add a new Rolex to your collection anytime soon? We’ll keep you posted on updates regarding this as more information becomes available to us…
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