2023, has started off with some pretty steep changes in the watch market. Rolex is known to have raised its watch prices both in the UK as well as the US market. This has got collectors in the Middle East concerned about a potential price hike in the region. Let’s take a look at what we know so far about price hikes by Rolex and what to expect from the brand in the coming months.
Details about Rolex price hike in US and UK
Every year in the month of January, Rolex revises their prices for certain models. However, some experts had predicted that the prices for 2023, may not be hiked, with that not being the case. Based on recent news, both the UK and US markets have witnessed an average price hike in Rolex watches that is about a 2.5% hike.
In the United Kingdom, prices for Rolex watches have been raised by 2.6%. Subsequently, the United States has witnessed a 2.2% increase in prices for specific Rolex models. In 2022, around the same time, Rolex increased their prices for the Submariner and Oyster Perpetual models.
Moreover, the price of models like the Daytona was increased towards the end of 2022, which is not typical of Rolex. Therefore, all these changes have peaked the interest of investors to find out if the price in the UAE market also will increase.
Will Rolex prices increase in the UAE also?
The straightforward answer is that it’s uncertain. Rolex has surprised the world by increasing its watch prices at an unconventional time last year. Therefore, it’s just a matter of time before we know if the prices are going to increase or remain the same.
However, based on the patterns we have observed during the last couple of years. There is a high chance that Rolex might refresh its prices for certain models in the UAE market as well. Perhaps, all we can do is to wait for an official announcement from the company.
Should you buy pre-owned or retail?
We say buy pre-owned. With talks about a potential hike in prices, investors are confused about going retail or switching it up and opting for pre-owned. The reason we vouch for the pre-owned market is because the prices in the sector remain relatively more stable as compared to the retail segment.
What’s even more interesting about the pre-owned market is the availability of rare and vintage watches. You can find these watches for exceptionally competitive prices.
Which is exactly what an investor looks for. We know for sure that despite a price hike in the UAE market, the region is still gonna remain the most desirable for investors to buy luxury watches. This primarily due to the density of watch brands available and more importantly the prices they are offered at.
Pre-owned Rolex prices vs. retail prices
For the purpose of comparison, we have mentioned some of the popular Rolex watches with their pre-owned and retail prices mentioned side by side.
| Rolex Watches [Pre-owned & Retail Prices] | ||
| Rolex Models | Retail Prices in UAE | Pre-owned Price in UAE |
| Cosmograph Daytona | AED 59,200 [starting price] | AED 120,000 [Starting price] |
| GMT Master II | AED 162,000 [Starting price] | AED 178,000 |
| Submariner | AED 36,500 [Starting price] | AED 60,000 |
| Datejust 41 | AED 44,000 [Starting price] | AED 54,000 |
| Sky-Dweller | AED 63,400 [Starting price] | AED 93,000 [Starting price] |
The pre-owned prices mentioned are subject to vary depending on the iteration you choose and the condition it is in. All these factors also play into the pricing decision when it comes to used or unworn Rolex watches.
The prices that have been mentioned above, are illustrated to give you an idea of what the price variations are.
Rolex watches that you must invest in now
With the possibility of prices increasing, investors are looking into the best watches to invest in today. Therefore, we have made a short list of the most profitable Rolex timepieces that you must consider buying now.
- Rolex GMT Master II reference no. 126710BLRO [Rolex Pepsi]
- Rolex Sky-Dweller reference no. 326934
- Rolex Submariner reference no. 116610LV [Rolex Hulk]
- Rolex Sea-Dweller reference no. 126660
- Rolex Yacht-Master II reference no. 116680
- Rolex Datejust 41 reference no. 126334
- Rolex Day-Date reference no. 228206
- Rolex Explorer II reference no. 226570
- Rolex GMT Master II reference no. 116710BLNR [Rolex Batman]
- Rolex Cosmograph Daytona reference no. 116500LN-0002
The Rolex models that we have mentioned above have shown a substantial growth in value over the years. In fact the demand for these watches have considerably increased in the pre-owned markets. Therefore, with rumors about a probable increase in prices, we recommend you to buy the above watches, if you are thinking of buying a premium Rolex watch.
Rolex prices in UAE: Should you be concerned?
The hike in Rolex prices in the US and UK markets has stirred up conversations amongst watch enthusiasts regarding a potential hike in the UAE. Based on past trends, it seems as if there is a possibility for a potential increase. However, we don’t think there is something to be overly concerned about.
For all those who are thinking about acquiring a Rolex, we strongly advise you to look into the options available in the Dubai pre-owned watch market. You won’t just have the chance to get your hands on rare timepieces but can also obtain them at competitive prices.