As the pound has weakened, the relative price for Rolex watches became cheaper in the UK compared to other markets.
The price of a Rolex Submariner without a date function increased to US$8,600 (£7,500) from US$8,200, WatchPro reported. The price of a red and blue bezel GMT Master II jumped to US$10,000 from US$9,600.
Has the Swiss watch market rebounded since the Covid-19 slump?
Rolex raised prices by a similar amount in most major markets including the UK and the US in January.
The most popular Swiss luxury watch brand has a market share close to 29 per cent and annual sales of about US$8.2 billion (8 billion Swiss francs). Demand for Rolex watches has long outstripped supply and most customers are asked to join waiting lists with authorised dealers and wait months, or even years before getting the call.Rolex produces about a million watches a year.
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