Rolex fans looking to start the new year with an extravagant new purchase may be waiting just a little while longer after the luxury Swiss watchmaker quietly increased their prices for 2024, with Australian watch fans feeling the pinch more than the majority of other countries.
When you think of luxury timepieces, few brands can command the same amount of global reach and appeal as Rolex. The brand sings success, with more and more avid watch collectors all desperate to get their hands on the Swiss watchmaker’s exclusive pieces.
Relatively speaking, Rolex doesn’t represent the highest price point in the market today. In fact, prices for the watchmaker’s signature iterations sit in the mid-range of what you would expect to pay for a luxury timepiece today… but that doesn’t exactly mean they’re lining the shelves either.
With a limited supply – and unprecedented interest – waiting lists for a new Rolex are reaching crazy highs, with customers expected to wait as long as 18 months for their particular Daytona, GMT or Datejust model if you’re looking to purchase from one of Rolex’s Authorised Dealers.
Australia, along with several countries including most of Europe, experienced dramatic price hikes on their favourite Rolex watches heading into the new year.
Of course, it’s natural to assume that price increases are quite common relating to varying degrees of inflation, but the recent increase isn’t as simple as an annual adjustment, with factors such as a weakening Australian Dollar and reduced watch production due to material costs have all contributed to the brand’s recent price increase.
Rolex pieces such as the Rolex Cosmograph Platinum Daytona, which would’ve set you back around $115,000 AUD last year, are currently retailing for $122,500 AUD – a bump of almost 6% in just 12 months.
The Rolex Daytona Panda has seen a prince increase from $22,500 to $24,250; that’s a jump of more than 8.1%.
Further along in Rolex’s two-toned range, the Rolex GMT-II ‘Pepsi’ has gone up from $13,550 to $14,650 for an increase of 8.1%, whilst the two-toned Rolex GMT-II Rootbeer went from $22,450 to $26,200 – a bump of 16.7%. The same goes for 2023’s John Player Special.
Most interestingly, are the two-tone Rolex models which have seen the steepest price increase. Perhaps Rolex realised these were too cheap and had begun adjusting accordingly. The two-tone Root Beer model was just $17,500 AUD pre-pandemic, today it’s added nearly $10,000 AUD to that price.
To see more of the Rolex 2024 price changes, check out our guide to Rolex prices.