Just a couple of weeks ago, Bob’s Watches announced that Rolex would be increasing its retail prices in the UK for 2020. At the time, it was stated that the reasons for the scheduled price increase had to do with the struggling British Pound and the ability for travelers to claim back the 20% VAT (Value Added Tax); however, we still couldn’t help wonder if price increases for the rest of the world would be next. Well, it turns out that we were right, and as of January 1, 2020, the world’s most famous luxury brand has increased U.S. retail prices for the vast majority of Rolex watches.
Rolex may have already increased their prices for 2020, but Bob’s Watches hasn’t yet.
Rolex Prices For 2020
Rolex’s new 2020 prices represent an average increase of 7.4%; however, the price hike is not symmetrical across the board for all models. For several years now, Paul has said that Rolex watches are undervalued (at retail), citing the multi-year waitlists that exist at dealers for many of the brand’s most popular models. Moreover, Rolex has not raised prices for several years now, so this increase was long overdue. Additionally, these same highly-desirable models trade hands for significantly more than their original retail prices on the secondary market, proving that the actual ‘value’ of these watches is greater than the retail prices that Rolex charges for them.
Buyers that have patiently sat on the waiting list for the opportunity to purchase their favorite model will find the 2020 price increase particularly irritating, as they will be charged the new 2020 prices should their name come up on the waiting list this year. Minor annoyances aside, the vast majority of these buyers will still be eager to pay the new 2020 retail prices for their dream watch, as even with the increase, retail prices sit well-below market value for many of Rolex’s top models, particularly their stainless steel sports watches.
As a point of reference, a stainless steel Rolex Daytona ref. 116500LN had a retail price of $12,400 in 2019. Although that exact same watch in 2020 will now be accompanied by an official retail price of $13,150, this is still significantly below the open-market value for the watch, which is currently sitting just above $20k.
Although the 2020 price increase will certainly not be popular among retail customers, it is highly unlikely that it will deter buyers in the slightest. For those individuals out there that have waited several years for the opportunity to purchase their favorite model, a price difference of several hundred dollars is hardly going to be the factor that makes them abandon their planned purchase. If anything, this increase only further supports the ability of Rolex watches to serve as investments, as secondary market prices are likely to also increase throughout the year in response to the new 2020 prices.
Below is an updated list with the new 2020 retail prices for many of Rolex’s top models.
Pre-owned and used Rolex Submariner
Pre-owned and used Rolex Milgauss watches | Bob's Watches
Pre-owned and used Rolex Daytona Watches | Bob's Watches
Pre-owned and used Rolex Air King | Bob's Watches
GMT Master Watch
Pre-owned and used Rolex GMT Master | Bob's Watches