Rolex watches get even more exclusive

First published: 15-06-2012

Rolex watches are renowned for their high value but prices went up further this week when the watchmaker introduced global price increases.

According to a report by Watch Pro, prices in the UK have not increased as much as in other parts of the world, with an average increase of around seven per cent.

In Europe, prices are thought to have gone up by around ten per cent.

Karl Massey, the managing director of one of the UK's leading Rolex boutiques, believes that Rolex is not the first Swiss watch brand to raise its prices.

He told the news provider that the ongoing problems in the eurozone are causing currency issues for watchmakers that can only be addressed by putting up – but demand for Rolexes remains high in the UK.

"Sales continue to increase," he said. "Compared to other markets the UK is still very competitive and we believe that this year will give us further growth."

Earlier this week, the luxury watchmaker presented five 'visionaries' each with their own Rolex timepiece worth around $105,000 as prizes for winning the 2012 Rolex Global Awards for Enterprise.

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