Will Rolex price increase on Jan 1st 2024 ?

[Gooswyn]

Hi folks ,

Will Rolex price increase on January 1st 2024 ? Do you guys have any information about this ?

[Njkdog]

They usually do increase once per year, sometimes it’s different times in different countries weirdly enough. Is it typically January 1? If so, I don’t see why not.

[GotRolex]

Does it matter?


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[Podmornica]

January or March 2024 - It will happen.

However, expect the prices on the grey market to fall further in the next 6 months.

[996marty]

Probably will go up at some point

[Mystro]

Originally Posted by GotRolex

Does it matter?


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Yea, this is always the take away every year. As if your AD calls you and says he has your Sub in but it’s $150.00 more than what initially told you 2 years ago. Nope that’s a deal breaker.

[enjoythemusic]

Well, to be fair Rolex and all producers of goods and services, must adjust prices higher to stay in business as currency becomes worth less at a modern accelerated rate. Have you seen the price of food??? Said another way, it's the planned erosion of a currency's purchasing power, and so yes homes, cars... and Rolex timepieces must be adjusted higher in price.

[Tzachi]

Or maybe not.

No one knows until Rolex decides to let the dealers know and it takes short time until everyone knows...

[majidessa]

I think the rumor mill usually starts in last week or so of Dec. It is too early to tell now

But this year it will be interesting to see if Rolex will go ahead with the price increase, which if they do, I doubt that it will exceed 2-3%.

[worldofoyster]

not 1/1 but some time in 2024

[Megster]

I'm not bothered about Rolex increasing their prices.I'm more worried about the Malaysian Government's plan,now in its final stage of completing its tax policy and legislation to impose a new luxury goods tax of between 5-10% beginning 1st May 2024

[bonovox]

Originally Posted by enjoythemusic

Well, to be fair Rolex and all producers of goods and services, must adjust prices higher to stay in business as currency becomes worth less at a modern accelerated rate. Have you seen the price of food??? Said another way, it's the planned erosion of a currency's purchasing power, and so yes homes, cars... and Rolex timepieces must be adjusted higher in price.

+1

[Calatrava r]

One is coming in 2024, hopefully, not two.

[Calatrava r]

Originally Posted by Megster

I'm not bothered about Rolex increasing their prices.I'm more worried about the Malaysian Government's plan,now in its final stage of completing its tax policy and legislation to impose a new luxury goods tax of between 5-10% beginning 1st May 2024

Would this be on top of an existing sale tax?

[Nodzex]

Yes

[brandrea]

Originally Posted by GotRolex

Does it matter?


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Originally Posted by Mystro

Yea, this is always the take away every year. As if your AD calls you and says he has your Sub in but it’s $150.00 more than what initially told you 2 years ago. Nope that’s a deal breaker.

Right?

[Megster]

Originally Posted by Calatrava r

Would this be on top of an existing sale tax?

My understanding of the New Malaysian Proposed High Value Goods Tax (HVGT)
1] Yes, 5-10% on top on the current existing sales tax of 6%. Details are still murky
2] Targeted at the High Income group who are more resourceful
3] Applicable to any luxury watch which retails at > US $4500 (RM20K)
The question comes to mind is that if the watch is given a small discount and falls below the cut off point for luxury tax, will the customer enjoy HVGT-free purchase ?
4] Yeah, foreign tourists are exempted from luxury taxes on watches in Malaysia

I honestly doubt the new HVGT proposals will bring additional benefits to the Govt's coffers because it just creates a perfect setting for a thriving underground luxury watch market

[Hollie_Rollie]

Takuya is buying new LVs at 12k. A nice price increase will put secondary market below retail. So yes I’m hoping for a price increase

Also, you’re nuts if you buy anything from Takuya right now or from any used watch dealer for over retail


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[Podmornica]

Originally Posted by Hollie_Rollie

Takuya is buying new LVs at 12k. A nice price increase will put secondary market below retail. So yes I’m hoping for a price increase

Also, you’re nuts if you buy anything from Takuya right now or from any used watch dealer for over retail


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Have to agree. More than 75 Rolex models are already sub retail. The new price increase will only shorten the waiting lists and make watches cheaper on the secondary grey market.

[Nads786]

Originally Posted by Hollie_Rollie

Takuya is buying new LVs at 12k. A nice price increase will put secondary market below retail. So yes I’m hoping for a price increase

Also, you’re nuts if you buy anything from Takuya right now or from any used watch dealer for over retail


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How do you know this? He's charging 17-18K for the LVs is the spread that large?

[Hollie_Rollie]

Originally Posted by Nads786

How do you know this? He's charging 17-18K for the LVs is the spread that large?

Because he offered me 12k on a 2023 I bought from an AD. I won’t share proof publicly but you’re nuts if you buy from that guy over retail. Either his margins are 5-6k or he’s strapped

And if his margins are 5-6k I say Godspeed to all the snake oil car salesman that leeched off our hobby. Musics over hope you have a chair

[EEpro]

Originally Posted by Hollie_Rollie

Because he offered me 12k on a 2023 I bought from an AD. I won’t share proof publicly but you’re nuts if you buy from that guy over retail. Either his margins are 5-6k or he’s strapped

And if his margins are 5-6k I say Godspeed to all the snake oil car salesman that leeched off our hobby. Musics over hope you have a chair

Still for sale?

[Hollie_Rollie]

Originally Posted by EEpro

Still for sale?

I haven’t listed. Just picked up an MK2 from my AD, I prefer the new bezel

It was weird my AD had an MK1 for me in 2023. I thought they transitioned to new bezels in 2022

Edit: I probably won’t list this year bc I didn’t renew forum membership in 2023. I’ll renew membership and list in 2024 only a few weeks away

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[Hollie_Rollie]

Originally Posted by Podmornica

Have to agree. More than 75 Rolex models are already sub retail. The new price increase will only shorten the waiting lists and make watches cheaper on the secondary grey market.

You know what would be cool and help build transparency? If it’s allowed, we should start a thread with what the used watch dealers are offering. It would give some transparency and expose a little of the underbelly as the market continues to crash.


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[Nads786]

Originally Posted by Hollie_Rollie

Because he offered me 12k on a 2023 I bought from an AD. I won’t share proof publicly but you’re nuts if you buy from that guy over retail. Either his margins are 5-6k or he’s strapped

And if his margins are 5-6k I say Godspeed to all the snake oil car salesman that leeched off our hobby. Musics over hope you have a chair

No need for proof, I wasn't questioning you in a skeptical manner but rather in the "tell me more" mindset.

I'm on his website now and I see a 2021 LV used for $15,325 so I could easily see a 2023 brand new one for $16,500.

If we assume a 10% discount that's still $14,850. It's a good margin.

[Hollie_Rollie]

Originally Posted by Nads786

No need for proof, I wasn't questioning you in a skeptical manner but rather in the "tell me more" mindset.

I'm on his website now and I see a 2021 LV used for $15,325 so I could easily see a 2023 brand new one for $16,500.

If we assume a 10% discount that's still $14,850. It's a good margin.

Unless he bought the 2021 high and the current market for a 2023 is 12k. Im sure someone none the wiser to current market conditions will buy the 2021 or he’ll sale to another used car salesman on a trade


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[EEpro]

Originally Posted by Hollie_Rollie

Unless he bought the 2021 high and the current market for a 2023 is 12k. Im sure someone none the wiser to current market conditions will buy the 2021 or he’ll sale to another used car salesman on a trade


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I sold my dinged up one on eBay for $13,500 in 2 hours.

I thought you were talking about a hulk at first. I love the new LV but wouldn't buy again. The black no date is working for me.

[majidessa]

Grey dealers are still trying to take advantage by increasing their margin, but this won't last in 2024 unless there is a boom in the watch industry, which I doubt it will happen any time soon.

I think that in 2024, dealers will reduce their spreads significantly as this policy can't last on the long run.

[Stonerolex]

Demand and market slow down make it harder to raise prices

[0nly5iv3Digits]

Probably. With currency devaluation running EXTREMELY hot these past few years... wouldn't bet against it. Would make total sense.