Is Rolex’s annual price increase for 2023 too much?
Rolex has raised their prices again for 2023. Discover which watches are seeing the biggest increases and what the impact will be.
Rolex raises prices again for 2023
For the past two years, January 1st has been an important date on the Rolex calendar. It is the day when the annual price increase is announced. While this makes sense, we are a little surprised that this is happening again this year. The fact that Rolex is not raising prices is on our list of Rolex 2023 predictions.
It’s hard to blame clone Rolex for raising prices considering most of their watches are priced higher upfront than they are new. To be fair, the cost of most things has gone up in recent years, and inflation has sent the world economy spiraling. 2023 price increases are not outrageous, and tend to be mostly for precious metal watches. You can find out how much each reference and collector’s item has risen with our 2023 Price Increases report.
Across all collections, Rolex raises prices by an average of 3.45% in 2023, or $733 per watch. Two-tone and sold gold watches saw the largest price increases, while stainless steel watches saw slight price increases.
One could argue that Rolex watches are already too expensive, and with the recent price increases, this may be even more evident. While they are currently trading at high prices on the pre-owned market, we suspect that this will not last long. Rolex is now producing more watches, and the prices of the past few years have made them harder to buy. We fully expect that we will soon see new models back in the box with a reduced waiting list, which may actually be what Rolex wants. They are essentially controlling their supply and demand by producing more watches and maximizing their revenue.
