Rolex has raised the price of its gold watches for the second time this year, increasing costs by an average of 5 per cent globally this month in a move that has surprised industry observers and underscores robust demand for premium luxury goods even as the wider luxury market remains subdued.
The increase affects key markets including Britain, Hong Kong and the United States, and follows a slightly larger price adjustment in January that was not limited to gold timepieces. Erik Boneta, a certified pre-owned watch dealer in the US, said the second hike had caught the market off guard. “No one saw it coming,” he said.
Rolex is not alone in adjusting its pricing. Richemont-owned Cartier raised prices on its gold watches by up to 10 per cent last month, according to Mark Xu, head of marketing at research platform WatchCharts. Richemont attributed what it described as “measured price increases” across its Jewellery Maisons, which include Cartier, to rising gold prices and fluctuating currency rates.
The price rises are closely tied to the gold market itself. Gold prices have nearly doubled since 2024 to around $4,200 an ounce, a surge that Zouheir Guedri, founder of luxury research firm Data&Data, said has driven an average increase of 4 to 6 per cent in gold watches from brands including Rolex, Richemont, LVMH, Swatch, Breitling and Chopard over the past year. Guedri said luxury watchmakers were “encouraging clients toward precious-metal and higher-end references” as they target an elite clientele with significant disposable income, even as middle-class consumers pull back on luxury spending.
For some models, the increases have been particularly steep. A white gold version of Rolex’s iconic Cosmograph Daytona — the model famously worn by Paul Newman in the 1970s — now costs $59,100 in the US, representing a 14 per cent rise this year alone and a 33 per cent increase since 2024.
The trend reflects a broader shift in the Swiss watch industry towards higher-value pieces. Exports of Swiss watches priced above 20,000 Swiss francs (around $25,038) have more than doubled compared with pre-pandemic levels, and now account for more than two-thirds of the industry’s total export value of 24.4 billion francs in 2025 — up sharply from a 22 per cent share in 2019, according to analysts at Vontobel.
Despite the rising prices, demand for Rolex watches is expected to continue outstripping supply. Simon Lazarus, head of PR and content at online luxury watch platform Chrono Hunter, said the brand’s enduring appeal was the key factor. “It comes down to brand desirability,” he said. “Rolex has always been the high flyer.” Rolex declined to comment for this story, and Richemont did not respond to a request for comment.
