From humble beginnings to becoming one of the top luxury watch brands, Rolex has had quite a Horological journey. Since its inception back in 1905, Rolex has produced well-engineered watches that are built to last and offer a great blend of timeless design and optimum performance. And while the brand has always been able to maintain high-quality standards, doing so has led to a constant increase in the price of its products and today we have some news for you. Planning to the pull the trigger on a new Rolex, be prepared to shell out a little more as due to a recent silent price hike your favorite Rolex has probably gone dearer by anywhere between 3 to 6 %.
This increase in price immediately brings to mind a few questions. What was the reason behind this spike? How would it impact the sales of Rolex watches? Here are a few answers that have spruced up in my mind. There can be multiple reasons for the increase in the price of a product in today’s competitive market. It could be a result of an increase in the labor cost or an increase in logistic expenditure or an increase in the cost of raw materials and many more.
While most of this can be true in the case of Rolex as well, considering the rather steep price tags that Rolex watches (especially the basic steel models) already carry, I believe these costs have already been well factored in a long time. In my opinion, this price hike is a step towards pushing the brand further into the higher echelons of luxury and exclusivity commanding a hefty premium in the name of brand heritage. As for the answer to the second question, I feel that the price rise would not have any impact on sales as there is hardly any brand out there with a fan following like that of Rolex and people who really want the five-pronged coronet on the wrist would not shy away from going the distance even if it involves being on a long unending waiting list.
So, what do you think about the rising prices of Rolex watches? Do you feel it is justified? Please feel free to voice your thoughts in the comments section below.
Please also find below the updated prices of some models that got costlier: