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Rolex Watch Price Increase: 2024 Update

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rolex price increase

Rolex has recently announced a price increase across its Singapore lineup, effective January 1. The same case is true in many countries, except the United States, where an average of 4% spike in price tags has been observed, according to Andy Hoffman from Bloomberg. 

This average price increase percentage varies across different models, reflecting the brand’s strategic approach to pricing in response to market dynamics and the people’s buying ability.

Here, we detail the model-specific price increases. Note that these figures may differ from the watches sold by Authorized Dealers (AD) in Singapore, especially as Goods and Services Tax (GST) may apply.

At a Glance

This table summarises the prices for 2024 Rolex models and their respective percentage increases.

ModelPrevious Price (S$)2024 Price (S$)Increase (%)
Cosmograph Daytona Steel (Ref. 126500LN)21,05022,1004.99
Cosmograph Daytona Rolesor (Ref. 126503)27,25028,9006.06
Cosmograph Daytona Yellow Gold Bracelet (Ref. 126508)55,20058,0005.07
Cosmograph Daytona Yellow Gold Oysterflex (Ref. 126518LN)44,23846,0434.08
Cosmograph Daytona White Gold Bracelet (Ref. 126509)59,30062,3005.06
Cosmograph Platinum Daytona (Ref. 126506)112,420114,7562.08
Cosmograph Daytona White Gold Le Mans (Ref. 126529LN)71,70075,4005.16
Submariner Date Steel Black (Ref. 124060LN)14,89215,4033.43
Submariner Date Steel Green (Ref. 126610LV)15,05016,85011.96
Submariner Date Rolesor (Ref. 126613LN/LB)21,80023,1005.96
Submariner Date Yellow Gold (Ref. 126618LN/LB)54,50057,1004.77
GMT-Master II Steel Batman Oyster (Ref. 126710BLNR)14,95015,7005.02
GMT-Master II Steel Pepsi Jubilee (Ref. 126710BLRO)15,25016,0004.92
GMT-Master II Steel Sprite Jubilee (Ref. 126720VTNR)15,95016,7004.70
GMT-Master II Rolesor Yellow Gold (Ref. 126713GRNR)23,00024,4006.09
GMT-Master II Rolesor Rootbeer (Ref. 126711CHNR)22,60023,9505.97
GMT-Master II Yellow Gold (Ref. 126718GRNR)54,30056,9004.79
GMT-Master II Everose (Ref. 126715CHNR)56,70059,5004.94
GMT-Master II White Gold Pepsi (Ref. 126719BLRO)56,70059,5004.94
Oyster Perpetual 41 (Ref. 124300)9,2719,5633.15
Oyster Perpetual 36 (Ref. 126000)8,8339,1253.31
Oyster Perpetual 34 (Ref. 124200)8,3958,6873.48
Oyster Perpetual 31 (Ref. 277200)8,2498,5413.54
Oyster Perpetual 28 (Ref. 276200)8,0308,3223.63

The 2024 Rolex price analysis reveals notable increases across its prestigious lineup, including sought-after models like the Cosmograph Daytona and Submariner

With increases ranging from 4%, the adjustments reflect Rolex’s enduring value and demand in the luxury market. 

Notably, the GMT-Master II and Daytona series see significant interest, underscoring their investment appeal and desirability among collectors and newcomers.

More Details

Daytona

rolex cosmograph daytona price increase 2024

Daytona, one of the Rolex models highly sought out and coveted due to its investment potential, shows a significant increase in its pricing. This is especially the case for Daytona models, in which the number of pieces produced and in circulation are capped, as stated in the Business Times

Here’s a list of some of the remarkable Daytona models, their previous and current pricing in Singaporean Dollars, and the percentage of the Rolex price increase. 

  • Cosmograph Daytona Steel (Ref. 126500LN): Increased from S$21,050 to S$22,100, a 4.99% increase.
  • Cosmograph Daytona Rolesor (Ref. 126503): Increased from S$27,250 to S$28,900, a 6.06% increase.
  • Cosmograph Daytona Yellow Gold Bracelet (Ref. 126508): Increased from S$55,200 to S$58,000, a 5.07% increase.
  • Cosmograph Daytona Yellow Gold Oysterflex (Ref. 126518LN): Increased from S$44,238 to S$46,043, a 4.08% increase.
  • Cosmograph Daytona White Gold Bracelet (Ref. 126509): Increased from S$59,300 to S$62,300, a 5.06% increase.
  • Cosmograph Platinum Daytona (Ref. 126506): Increased from S$112,420 to S$114,756, a 2.08% increase.
  • Cosmograph Daytona White Gold Le Mans (Ref. 126529LN): Increased from S$71,700 to S$75,400, a 5.16% increase.

The percentage of Rolex price increases are based on the specific models and their configurations. The overall trend indicates a general price increase across the Daytona lineup, with the yellow, gold and steel models experiencing more significant increases.

Submariner 

rolex submariner retail price increase 2024

The Rolex Submariner line, renowned for its diving watch heritage, will experience a slight average price hike of about 4% in 2024. The collection retains its classic design, unchanged since the 2020 refresh. 

While this is the case with their new pricing, Submariners will still be highly coveted due to their huge investment potential, with some models fetching big dollars at auction, according to Stephen Pulvirent

Here are some models with notable price hikes:

  • Submariner Date Steel Black (Ref. 124060LN): Adjusted from S$14,892 to S$15,403, marking a 3.43% rise.
  • Submariner Date Steel Green (Ref. 126610LV): Adjusted from S$15,050 to S$16,850, marking a 11.96% rise.
  • Submariner Date Rolesor (Ref. 126613LN): Adjusted from S$21,800 to S$23,100, marking a 5.96% rise.
  • Submariner Date Yellow Gold (Ref. 126618LN): Adjusted from S$54,500 to S$57,100, marking a 4.77% rise.

GMT-Master II

rolex gmt-msater II price increase 2024

This year, the GMT lineup has seen significant price adjustments. Last year, the Rolex GMT-Master II models, including the Batman, Pepsi, and Sprite/Destro, experienced a 7% price increase.

Due to the Rolex price increase, another adjustment in their retail values occurred:

  • GMT-Master II Steel Batman Oyster (Ref. 126710BLNR): Increased from S$14,950 to S$15,700, a 5.02% increase.
  • GMT-Master II Steel Pepsi Jubilee (Ref. 126710BLRO): Increased from S$15,250 to S$16,000, a 4.92% increase.
  • GMT-Master II Steel Sprite Jubilee (Ref. 126720VTNR): Increased from S$15,950 to S$16,700, a 4.70% increase.
  • GMT-Master II Rolesor Yellow Gold (Ref. 126713GRNR): Increased from S$23,000 to S$24,400, a 6.09% increase.
  • GMT-Master II Rolesor Rootbeer (Ref. 126711CHNR): Increased from S$22,600 to S$23,950, a 5.97% increase.
  • GMT-Master II Yellow Gold (Ref. 126718GRNR): Increased from S$54,300 to S$56,900, a 4.79% increase.
  • GMT-Master II Everose (Ref. 126715CHNR): Increased from S$56,700 to S$59,500, a 4.94% increase.
  • GMT-Master II White Gold Pepsi (Ref. 126719BLRO): Increased from S$56,700 to S$59,500, a 4.94% increase.

Oyster Perpetual

rolex oyster-perpetual price increase 2024

In 2024, the Oyster Perpetual collection, particularly the 36mm version (Ref. 126000), experienced a remarkable price increase of +11.82% compared to the previous year. 

An in-depth pricing analysis of the Oyster Perpetual series is presented below.

  • Oyster Perpetual 41 (Ref. 124300): Increased from S$9,271 to S$9,563, a 3.15% increase.
  • Oyster Perpetual 36 (Ref. 126000): Increased from S$8,833 to S$9,125, a 3.31% increase.
  • Oyster Perpetual 34 (Ref. 124200): Increased from S$8,395 to S$8,687, a 3.48% increase.
  • Oyster Perpetual 31 (Ref. 277200): Increased from S$8,249 to S$8,541, a 3.54% increase.
  • Oyster Perpetual 28 (Ref. 276200): Increased from S$8,030 to S$8,322, a 3.63% increase.

The surge regarding Oyster Perpetual models is likely due to the secondary market prices, where resale values have rapidly grown. Rolex’s price adjustment is necessary to reflect this market trend. 

And while many Rolex timepieces have upped their retail value, there’s still good news. Several models have taken the opposite route in their pricing, like some Yacht-Master references. As a collection, Watch Charts shows a 2.4% decrease in their market price. 

Factors Influencing Rolex’s Pricing Strategy

Rolex’s pricing strategy is influenced by various factors that impact the luxury watch market. Some of the key factors include:

  • Inflation: As the cost of living increases, Rolex may adjust its prices to maintain profitability and reflect the higher costs associated with manufacturing and distribution.
  • Material costs: The prices of precious metals and other materials used in watchmaking can fluctuate significantly. Changes in the costs of gold, platinum, diamonds, and other materials frequently used by Rolex directly affect the production costs and, subsequently, the retail prices of Rolex watches.
  • Historical context: Rolex froze its prices during the pandemic to maintain stability and customer loyalty. This temporary freeze was followed by adjustments as the market conditions changed.
  • Brand value and demand: Rolex’s strong brand reputation and high watch demand allow the company to command premium prices. The perceived value of Rolex watches as luxury items and status symbols also play a role in their pricing strategy.
  • Market dynamics: Rolex continuously monitors market trends and competitor pricing to ensure its watches are competitively priced while maintaining their luxury status.

By considering these factors, Rolex aims to balance its pricing strategy to reflect its brand value, cover production costs, and meet market expectations.

Impact on Consumers and the Market

The price adjustments by Rolex have various implications for consumers and the luxury watch market:

Rolex Buyers and Collectors

  • Perceived value: Price increases can enhance the perceived value of Rolex watches, making them more desirable luxury items.
  • Investment potential: For collectors, higher prices can boost the investment potential of their timepieces, as the value of their collection may appreciate over time.
  • Accessibility: On the downside, price hikes might make Rolex watches less accessible to a broader range of consumers.

Grey Market

  • Resale value: Price increases can lead to higher resale values in the secondary market, as pre-owned watches may be perceived as more valuable.
  • Demand dynamics: The secondary market might experience shifts in demand, with certain models becoming more sought after due to their increased new retail prices.

Certified Pre-Owned Program

  • Price adjustments: Rolex’s Certified Pre-Owned program might adjust its prices to align with the new retail prices, impacting the cost of certified pre-owned watches.
  • Market position: The program could see a boost in popularity as consumers look for more affordable alternatives to brand-new Rolex watches.

Overall, the impact of Rolex’s price changes extends beyond the brand, influencing buyer behavior, the secondary market, and the broader luxury watch industry.

Which Rolex Will Be Discontinued in 2024?

There have been confirmed discontinuations at the upcoming Watches and Wonders event.

Yacht-Master II Collection

  • Discontinuation of all steel, Rolesor, and full gold variations.
  • Although not as popular as its counterparts, the Yacht-Master and GMT Master, this decision marks the end of a line first introduced in 2007.
  • Potential price fluctuations are expected, but limited popularity suggests minimal resurgence prospects.

Datejust Motif Dials

  • Termination of production for all motif dial variations in steel and Rolesor, in both 36mm and 41mm sizes, by April 2024.
  • Highly sought-after models like the green palm 36mm Datejust and the green & blue motif Datejust 41 are expected to appreciate in value, potentially by around 10% over current secondary prices.

Oyster Perpetual Coloured Dials

  • Discontinuation of the vibrant colored dials introduced in 2020.
  • These models, especially in larger case sizes, have been extremely popular, fetching significant premiums.
  • With their impending discontinuation, a dramatic increase in value is anticipated, with an estimated 30% rise over current premiums.

These discontinuations will likely shake up the Rolex market, with collectors and investors keeping a close eye on the affected models’ value trajectories.

What This Means for Future Rolex Purchases

With the brand’s consistent price increase, its commitment to maintaining exclusivity and high-quality standards remains. Despite these price changes, Rolex will still be in high demand as people will value it more, according to Alex Williams of The New York Times.

Here’s what it means for prospective buyers and investors in the luxury watch market. 

For Prospective Buyers:

Considering the likelihood of continued price increases, buying sooner may be more advantageous. Adjust your budget to accommodate higher costs and prioritize purchasing from reputable sources to ensure authenticity and protect your investment.

Speculation on Future Price Trends:

Rolex prices will continue rising due to the brand’s strong reputation, high demand, and limited supply. Certain models, especially those with limited production or historical significance, may have higher investment potential.

Investment Considerations:

Diversifying your collection with different models and materials can help spread risk. Viewing Rolex purchases as long-term investments is wise, as their value may appreciate over time. 

In summary, prospective Rolex buyers should be strategic in their purchases, considering the long-term investment potential of their chosen timepieces. Staying informed and cautious will be key in navigating the evolving luxury watch market.

Final Word

This year’s price revision underscores Rolex’s enduring appeal and investment worthiness in the luxury watch market. With a general increase of around 4%, the brand continues to intrigue and satisfy enthusiasts worldwide. Whether you’re a seasoned collector or aspiring to own your first Rolex, the 2024 adjustments beckon a closer look at what makes these timepieces a timeless addition to any collection.

Key Takeaways

  • The 2024 Rolex Price List indicates an average price rise of about 4%, notably more reserved than prior years.
  • It’s not just about the model but also the material. 2023 witnessed Rolesor (steel-and-gold) models receiving a higher price uptick of around 11 to 12%, whereas steel rose by roughly 7%.
  • Diving deeper into individual choices, the Submariner experienced a specific increase, with particular references registering a 5% rise from the previous year.

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