Swiss luxury watchmaker Rolex began the year by raising prices of some of its most popular models after gold values surged in 2024, reported Bloomberg on Thursday.
The Geneva-based company hiked prices as much as 8% on some models made from precious metals.
A yellow gold Day-Date with a 40-millimeter black dial now costs €44,200 ($45,809) as of January 1, up from €41,000, according to Rolex’s website in France.
A yellow gold GMT-Master II now costs €44,600, up from €41,300.
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Previous years
Rolex typically raises prices once a year on January 1, much like other luxury brands. Chanel, Hermes have also followed this edict, depending on various factors.
Price increases can be indicative of the demand for premium luxury products, the cost of materials and labor as well as inflation. Gold recorded its biggest annual price increase in 14 years in 2024, soaring 27%, added Bloomberg.
This year’s increases are notably larger than last year’s. Rolex raised prices on some precious metal models by about 4% in the United Kingdom at the start of 2024.
Country-specific prices for timepieces can also be seen as an indicator of a nation’s economic strength. Rolex produces more than 1 million watches per year, with sales above 10 billion Swiss francs ($11 billion), according to analyst estimates, according to Bloomberg.
However, price hikes in 2025 for steel models were less aggressive. A steel Cosmograph Daytona now costs €16,000, up from €15,500 in 2024. The price of a Submariner dive watch without a date rose by about 1.6% to €9,500.
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