Menu

Watch News - Feature Article

Rolex Raise UK Prices by 10%

Rolex is the latest luxury watch brand to increase its UK prices in battle against devaluing pound.

It was a question of time really. Since January this year, industry insiders have been calling the inevitable, with Brexit proving the tipping point. Since the July referendum, luxury watch retailers in the UK have enjoyed a purple patch in sales. A plummeting pound has meant prices for luxury watches in Britain have fallen out of sync. Until now, many Rolex models have been over 30% cheaper in the UK than in New York and 20% less than other European countries. 

An article in the New York Times today quotes figures by market research company GfK putting sales of watches over £10,000 up 67% in London this September. The same piece also highlights a report by the Federation of the Swiss Watch Industry that states exports to Britain were up 32.4% year on year, positioning the UK as the “world’s fourth-largest importer of Swiss watches.”

In spite of increases of up to 10% across the board for first-hand Rolex watches, prices will still be somewhat cheaper in the UK than most European cities, and at today’s exchange rate a Submariner Date will be some 1,000 US dollars cheaper than in the US. Yet the pound is expected to continue falling and many experts predict we’ll see further price hikes at the beginning of 2017.

List of Rolex Price Increases On Most Popular Models 

Rolex Model

Old RRP (£)

New RRP (£)

% Increase

Submariner Date

5,700

6,250

9

GMT Master II

5,600

6,200

10

Daytona

8,250

9,100

9

Explorer

4,300

4,800

10

Explorer II

5,450

5,950

8

Air King

4,150

4,550

9

Milgauss

5,500

6,050

9

Yacht Master II

12,600

13,700

8

Sky-Dweller (Everose)

32,750

35,850

9

Meanwhile, the same ten percent increase will likely be mirrored across the pre-owned market. The only difference being, there is usually a window of a day or two before private resellers catch-up. At Xupes, current prices are frozen until midnight tomorrow, when they will be increased in line with pre-owned averages. So if you’re looking to get yourself something for Christmas, or even an investment piece for the years to come, then now might just be an ideal time.

Quite how long the UK will remain a haven for luxury watch detailers nobody knows, but Rolex's decision to increase prices just before the countdown to Christmas certainly reveals their confidence in the strength of the market.

For more information, visit our dedicated pre-owned and vintage luxury watches page.