Rolex kicked off 2024 with a Vienna Philharmonic New Year’s concert and a bunch of price increases around the world. Rolex price increases didn’t happen in every country, though; the United States and Switzerland were spared–at first. Rolex released an updated US price list effective June 1, 2024 that includes increases for all gold and Rolesor (two-tone) models. Australia, Canada and India had faced some of the steepest price jumps in January, with most of Europe facing more moderate increases. While many people are under the impression that Rolex increases prices every year, it really is mostly about keeping in line with inflation in various currencies–and precious metal prices play a role too. Here’s a brief breakdown of the Rolex 2024 price increases.
How Much Did Rolex Prices Increase in 2024?
| USA | 0-4.5% |
| Switzerland | No increase |
| Europe (except Switzerland) | Approximately 5-6% |
| Canada, Taiwan, India | Approximately 6-8.5% |
| Australia | Approximately 8-10% |
Which Rolex Watch Prices Jumped the Most?
Percentage-wise, steel and two-tone Rolex models seemed to increase slightly more than precious metal models in January (in most countries). Interestingly, though, the June 2024 US price increase only applies to gold and two-tone models. Platinum and steel prices are unchanged here in the States, and given gold’s high prices, that’s fairly understandable. Gold Day-Dates are about 4.2% more expensive now, for example, while two-tone models increased between roughly 1.8%-3.5%.
Does Rolex Increase Prices Every Year?
No, not in every currency. From 2012 until early 2020, there were no Rolex price increases in the USA. Meanwhile, prices in Brazil increased three times in 2018 alone.
When Does Rolex Update Prices?
Historically, Rolex price increases occur on January 1 across the board. But in extreme cases, if a currency is becoming excessively devalued, Rolex will make price adjustments during the year as necessary (as with Brazil in 2018). Rolex’s 2024 mid-year USA price hike was abnormal, but it came on the heels of an 80% increase in the price of gold over a five-year period.
Do New Prices Affect the Used Rolex Market?
Theoretically, yes, those who become priced out of new models increasingly seek used models and thus increase the prices of those as well. And in practice, that is in fact what we generally see. But it’s worth noting that the delta between new and vintage Rolex watches seems to be increasing–in favor of new Rolexes. Most buyers prefer the “weight” and clasps of the newer bracelets.
While people often think “expensive” when they hear “vintage Rolex,” in most cases it will cost you much more to buy a modern equivalent. You can even find a beautiful example of a vintage Rolex Pepsi GMT with a faded fuchsia bezel insert for less than the market price of a new GMT-Master II. It’s really only the extremely desirable and rare vintage Rolexes that see huge prices. Hopefully there won’t be another Rolex price increase anytime soon, but we’ll see!
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