Stylish: Rolex is favoured by the likes of Victoria Beckham
Rolex has raised prices in the UK as it anticipates a slowing demand for luxury goods.
The Swiss watchmaker has increased price tags in Britain by an average of 4 per cent since the new year, according to a report by analysts at Barclays.
This means a Rolex Air King costs as much as £6,500, compared with the £6,250 in 2023. Sky Dweller, meanwhile, is selling at £42,100, a £1,700 bump on prices last year.
Rolex (favoured by the likes of Victoria Beckham, who wears a Cosmograph Daytona) did not introduce price hikes in the US for its timepieces, adds Barclays.
The company will often update prices at the start of the year to protect its profit margins against rising inflation and currency fluctuations.
In 2022, Rolex lifted prices twice in the UK as the pound sunk to a 37-year low against the dollar. The latest rise comes after the biggest seller of Rolex watches in Britain warned over the slump in demand.
In December, Watches of Switzerland said quarterly sales in the UK and Europe were 4 per cent lower than a year earlier at £433m.
