Rolex Price Increases: History, Pattern and What Drives Them

Rolex raises its list prices almost every year, usually at the start of January, by a low-to-mid single-digit percentage on steel models and by more on gold models when the gold price has risen. Occasional second rises happen within a year in a single market when a currency moves or an import tariff changes, as in the United Kingdom in 2022 and the United States in 2025. The result over decades is a steady compounding: a steel Submariner Date that listed for a few thousand dollars in the 1990s listed for a little over US$9,000 when the current 126610LN launched in 2020 and above US$10,000 by 2023. This guide sets out the long-run pattern, the year-by-year picture since 2020, what drives each increase, the difference between steel and gold, and what a retail rise does to pre-owned prices. Bizak & Co. sources Rolex to order; the Rolex collection lists the references we can seek.

Last reviewed on September 25, 2026 by Filip Biczak. Prices are dated observations, not quotes.

How often does Rolex raise prices?

Rolex does not announce price changes. Authorised dealers receive new price lists, and the model pages on rolex.com update on the same day. Since the late 2000s the main adjustment has fallen on or around January 1 in most markets, and every year from 2020 to 2025 saw a January rise in the United States. A second adjustment within a year is rare and market-specific: it happens when a national currency falls sharply against the Swiss franc, so that the local price no longer covers the franc cost, or when import duties change. Rolex prices in Swiss francs at the factory, and the list price in each country is a translation of that franc price plus tax and duty, which is why the same reference can cost noticeably more in one country than in another and why prices move on different dates in different places.

Rolex price increase history: the long view

The clearest way to see the pattern is to follow one reference through its generations. The steel Submariner Date has existed in broadly the same form since the 1960s, and its US list price is the best-documented in the catalogue. The figures below are rounded and deliberately broad; exact historical list prices vary by source and by the month in the year they were recorded.

Read across the rows and the compounding is roughly three to four percent a year over thirty years, with faster stretches after a new generation launches and slower stretches when the Swiss franc is weak. That rate is close to long-run inflation plus a little, which is the point: Rolex prices its steel watches to rise steadily rather than to jump, and the jumps that buyers remember (2022, 2023, 2025) came in years when either inflation or the franc or gold moved sharply.

What happened between 2020 and 2026?

• 2020. The Submariner, Sea-Dweller and Oyster Perpetual lines were renewed in September, and the new references launched at prices a few percent above the models they replaced.
• 2021. A January rise of a few percent in most markets. Demand for steel sports models ran far ahead of supply and secondary premiums climbed through the year.
• 2022. A January rise, then in the United Kingdom a second rise in September after sterling fell against the franc. Secondary prices peaked in the spring and fell for the rest of the year.
• 2023. A January rise that was larger than usual on steel, in the region of five to ten percent on several professional models, reflecting Swiss inflation and a strong franc. The new Daytona 126500LN launched in March at a higher list than the 116500LN it replaced.
• 2024. A January rise concentrated on precious-metal models as gold rose; steel moved little.
• 2025. A January rise, then a further US-specific rise during the year after import tariffs on Swiss goods were raised. Gold models rose most because the gold price climbed through the year.
• 2026. The pattern of a start-of-year adjustment continued; the current list for any reference is on its rolex.com page and is the only figure that should be relied on.

What drives Rolex price increases?

• The Swiss franc. Every Rolex is made in Switzerland and costed in francs. When the franc strengthens against the dollar, euro or pound, the local price must rise to keep the franc margin, which is why rises are often larger in one market than another.
• Metal prices. A Day-Date 40 contains well over a hundred grams of 18 ct gold in case and bracelet. When gold doubles, as it broadly did between 2019 and 2025, the material cost of a gold Rolex rises by thousands of dollars and the list price follows.
• Swiss wages and inflation. Watchmaking is labour-intensive and Swiss wages rise with Swiss inflation, which was unusually high in 2022 and 2023. The Federation of the Swiss Watch Industry publishes export statistics that show the value of exports rising faster than the number of pieces over the past decade, which is the industry-wide version of the same story.
• Tariffs and tax. Import duty is paid on the franc value and passed on. The 2025 US tariff changes on Swiss goods are the clearest recent example.
• Positioning. Rolex keeps its steel professional models below the point at which demand would fall, and keeps gold models priced as luxury goods. The brand has never used price to clear a waiting list; it uses allocation.

Steel versus gold: why gold rises faster

The catalogue figures show the practical consequence. A steel Submariner trades close to its retail price in either condition, so a retail rise lifts what a used one is worth almost one for one. A gold Day-Date trades below retail once worn, so a retail rise widens the gap between new and pre-owned rather than lifting the pre-owned price by the same amount. The Day-Date collection and the yellow gold collection show the spread on any given day.

How do retail increases affect the secondary market?

A retail rise does three things. First, it raises the floor: a reference that trades at retail cannot trade below the new retail for long, because dealers who hold stock reprice to the new list. Second, it narrows a premium: when a Daytona trades at twice retail and retail rises five percent, the secondary price rarely rises five percent with it, so the premium shrinks in percentage terms. Third, it lifts discontinued references: when the current Submariner Date rises, the previous 116610LN, which was asked at US$12,650 pre-owned in Bizak's catalogue on September 25, 2026, tends to follow at a distance because it is the nearest substitute. The exception is the top of the market, where scarce references such as the Pepsi GMT-Master II trade on their own supply and pay little attention to the list price. Auction results from Phillips show the same thing over longer periods: retail rises set the floor for modern references, not the ceiling.

Does a Rolex keep up with its own price rises?

For steel professional models bought at retail, generally yes: a Submariner, GMT-Master II or Explorer bought at list in any year since 2010 could have been sold for at least its purchase price for most of the period since, because the retail rises and the allocation premium kept the floor above the original list. For gold and dress models bought at retail the answer is usually no in the first five years, because the pre-owned price starts below retail and needs several years of list rises to catch up. For anything bought at a large secondary premium, the answer depends entirely on whether the premium persists; buyers who paid the 2022 peak for a steel Daytona were still below their purchase price in 2026. Our Rolex price guide and how to sell a Rolex explain how we value a watch against its retail and its market.

What to do if you are on a waiting list when prices rise

You pay the list price on the day the watch is allocated, not the price on the day you joined the list. Authorised dealers do not honour an old price. If a rise is expected in January and a dealer has told you a watch is coming, ask whether it can be invoiced before the year end; some will. If you are buying pre-owned instead, a January rise usually pushes independent dealers to reprice within weeks, so a quote obtained in December is worth acting on. Our waitlist guide covers the allocation process in detail.

Buying around a price rise: what to check

• Date the quote. Any quote should carry the day it was given; a quote from before a list change is stale.
• Compare to the current list, not last year's. The rolex.com model page is the anchor; use it.
• Check the card date on pre-owned. A 2024 card on a reference that rose in 2025 and 2026 was bought at a lower list, which is one reason it should be cheaper than a new one.
• Do not buy a premium because of an expected rise. A five percent retail rise does not justify paying thirty percent over retail today.
• Precious metal: check the gold price. If gold has fallen since the last list change, a gold Rolex is more likely to be discounted pre-owned.
• Confirm the full set. Box, card, booklets and links matter more, not less, when prices are moving, because they are what a future buyer will pay for.

Our authentication process describes what we inspect before dispatch.

Quick answers

How much does Rolex raise prices each year?

Typically a low-to-mid single-digit percentage on steel models and more on gold models when the gold price has risen. Larger rises, in the region of five to ten percent on some steel references, came in 2023 and, for the United States, 2025.

When does Rolex raise prices?

Usually at the start of January. A second rise within a year happens only in a specific market when a currency falls against the Swiss franc or import duties change.

Why did Rolex prices go up in 2025?

A January adjustment across the range, then a further US rise after tariffs on Swiss imports were raised. Gold models rose most because the gold price climbed through the year.

Do Rolex prices ever go down?

List prices have not fallen in any major market in living memory. Secondary and pre-owned prices do fall, as they did for steel sports models between spring 2022 and 2024.

Does a Rolex price rise make my watch worth more?

For a steel professional model that trades near retail, roughly yes, because the pre-owned floor moves with the list. For a gold or dress model that trades below retail, the pre-owned price moves less than the list does.

Request a Rolex sourcing quote

Tell us the reference, dial and metal, whether you want a new watch with a current card or a pre-owned example, plus your budget and timing, through our sourcing enquiry form. We confirm the specific watch, photographs, card and final price before you commit. Catalogue entries: Submariner 124060, pre-owned Submariner Date 116610LN, pre-owned Day-Date 40 228238; browse the Submariner collection, the Day-Date collection, or sell or trade your Rolex.

Related reading: Rolex price guide · Submariner price guide · Submariner 124060 guide · Rolex waitlist explained.