Rolex Rings in New Year With 3-8% Price Hike on Select Dayonta, GMT-Master II and Submariner ...

On Jan 1, select models produced by the revered Geneva watchmaker-mostly those in the brand's steel sport ranges-increased in price anywhere from 3-8% For example, the Daytona, ref.

Paul Altieri, founder of Bob's Watches, a popular Rolex re-sale site, attributed the surge to the soaring price of gold in the wake of escalating threats between President Trump and Iran The last time Rolex increased prices in the U.S was in 2012.

Altieri highlights the secondary market's most vexing phenomenon: Demand for a slew of Rolex steel sport models is so high that the pieces are virtually unavailable at retail; hopeful buyers must wait months, if not years, for an opportunity to purchase one "The market has been telling you that Rolex has been underpriced When they announced the price increase two weeks ago in the UK, I said it was just a matter of time before they do it here in the US".

For now, Altieri says, preowned Rolex models on his site still reflect "Yesterday's prices." "Our existing inventory is already priced," he says. . Source