While you were busy ringing in the New Year, Rolex was secretly changing its price tags. If purchasing a Rolex timepiece at retail felt heavy on your wallet in 2021, then the 2022 price list is sure to make you pause and reconsider the entire decision.
Prices are up by a significant margin, and the models under the radar are the stainless steel sports watches. Each year, the luxury watch brands, including Rolex, come with a price correction. This is a standard business practice. But, the latest 2022 Rolex Watch Price List highlights the most extensive hikes and, most importantly, on the brand’s utmost anticipated pieces.
For example, Stainless steel 41mm Ref. 124300 Oyster Perpetual, which previously flaunted a retail price of £4750 in 2021, is now selling for £4850. Also, the Rolex Submariner Ref. 124060, which was selling for £6650, has increased. It is now available for £7150.
Even though nothing is shocking about a luxury watch brand correcting its price list, but 2022 isn’t a mere typical year. The world is witnessing impressive inflation, and the ongoing pandemic is causing many problems for the manufacturers that inherently affect the prices of wages and raw materials. Hence, such a steep rise in the Rolex prices.
Now, if we look closely, the demand for Rolex steel sports watches is reaching an incredible level. Most references are almost impossible to acquire from retailers at registered prices. Of course, we have seen the prices soar on the secondary market for the most desirable Rolex watches all these years. But, what were previously only limited to specific Submariner models or Daytona-s, is now extended to anything featuring the ‘Crown’.
Reportedly, Rolex Watch has increased its prices by 30 per cent, and we’re not kidding. The heat has spread not just across the Rolex ‘regular’ wanted sports models but ALL models. From Datejusts to ladies’ and Cellini’s, the value is riding towards the sky!
There’s another big problem that comes along, and that is availability. Rolex as a brand is facing a severe supply issue, and the new timepieces are becoming increasingly difficult to source. The Rolex models in-store showcase ‘Display only’ or ‘For exhibition only’ signs next to them. Well, of course, you do not expect someone to simply linger on the streets and pop into a Rolex showroom to buy a fresh Daytona from the outlet. Even if they do, it won’t be fruitful. This is because of the unimaginable shortage of almost any new Rolex model that has further stirred the attention.
Yet the brand denies the truth! (Sigh)
In a statement in September, Rolex stated that the scarcity in the products is not a strategy on their part. The current production scale cannot meet the existing demand exhaustively. And, since the brand will never reduce or compromise with the quality of their watches, things are getting a little challenging to manage.
According to a source, the Rolex dealers have displayed replicas or dupes to avoid showcasing empty sales floors. Though not for sale, the replicas appear like real watches with similar movements.