Gold Surge Pushes up Rolex Prices
January 06, 25
(IDEX Online) - Rolex has increased the cost of some watches by up to 8 per cent in response to surging gold prices.
A yellow gold Day-Date with a 40-millimeter black dial now costs $45,809, following a 1 January increase, up from $42,587. And a yellow gold Rolex GMT-Master II is up from $45,100.
Gold prices increased by around 27 per cent during 2024 and currently stand at $2,624 per ounce, after hitting a record high of $2,790 last October.
Prices for watches made of platinum, steel, or other materials have also increased, but generally by no more than 3 per cent.
Rolex, the biggest of all; luxury Swiss watchmakers, traditionally puts its prices up on New Year's Day.
Rolex declined to comment.
Meanwhile, prices of second hand Rolex's fell during 2024 by 4.9 per cent, according to the WatchCharts Overall Watch Market index.
Pic shows a yellow gold Rolex GMT-Master II.