Luxury Swiss watchmaker Rolex has raised prices for some popular models after gold rose by 27% in 2024.
Bloomberg writes about it.
Prices for some watches rose by 8%. Thus, the Day-Date model in yellow gold with a 40 mm black dial costs €44,200, which is €3,200 more than before. And the GMT-Master II in yellow gold went up to €44,600 from €41,300.
The increase was less significant for steel models in 2025. For example, the Cosmograph Daytona in steel now costs €16,000, which is €500 more than last year.
Rolex traditionally changes its prices on January 1 once a year. Price increases may indicate demand for luxury products, rising costs of materials and labor, and inflation.
However, in 2024, the price of gold soared by 27%, the largest annual price increase in 14 years. This was due to large-scale purchases by central banks and increased demand from wealthy investors. The easing of the US Federal Reserve’s monetary policy also contributed to this.
Watch prices in a particular country can be seen as an indicator of that country’s economic situation. Experts believe the rise in gold prices is also due to currency fluctuations. In 2022, Rolex raised prices twice in the UK and Europe when the Swiss franc soared against the British pound and the euro.