Rolex Photo
This move came as a surprise to the luxury watch market, according to Reuters. Rolex usually limits itself to one major price adjustment per year, but the current decision reflects several trends at once: the rapid rise in the price of gold and continued high demand from affluent buyers.
According to market participants, Rolex’s second price hike came as a surprise even to some dealers. Nevertheless, demand for the most prestigious models remains steady. While middle-class buyers are cutting back on luxury goods, ultra-wealthy clients continue to actively purchase watches, which are increasingly viewed as both a status symbol and an investment asset.
The sharp rise in the price of gold has added further pressure on prices. Over the past two years, the price of gold has nearly doubled. Luxury watch manufacturers are increasingly promoting models made of gold and other precious metals, targeting the wealthiest audience.
The prices of certain iconic models have risen particularly sharply. For example, the white gold version of the Rolex Cosmograph Daytona is currently selling in the U.S. for $59,100. Since the beginning of the year, its price has risen by 14%, and compared to 2024, by a third.
Other players in the high-end watch and jewelry industry have adopted a similar strategy. In particular, Cartier, part of the Richemont group, raised prices on certain gold models by up to 10% in May. The company previously attributed the price adjustment to rising precious metal prices and currency fluctuations.
Analysts note that the premium segment of the Swiss watch industry continues to strengthen its position. Exports of watches priced at over 20,000 Swiss francs already account for more than two-thirds of the industry’s total value, whereas before the pandemic, its share was significantly lower.
