It turns out that the “good” news that the Trump administration had lowered tariffs on imports of Swiss watches from 39% to 15% was short-lived. Not least of all because on the 1st of January Rolex implemented a global price increase, with stainless steel models like the “base” Rolex Submariner seeing a roughly 5–6% price hike, while gold and precious metal pieces are up about 8–9%.
What this means for U.S. retail buyers: a brand new Rolex 126610 Submariner Date is up over $1,000 and is now priced at $11,350. A much more dramatic increase can be seen in the white gold Submariner 126619, which is up more than $4,000 over January 2025; followed by the white gold Day-Date ref. 228239, up approximately $3,600. This accounts for why certain less popular Rolex models are now sometimes notably trading “below retail” on the secondary market.
Why Another Rolex Price Increase Is Likely
We of course predicted the price increase, not least because it was obvious that even the 15% tariff meant the Swiss watch industry would be taking a big hit. Effectively it meant that tariffs on new Rolex watches would still be roughly triple pre-2025 levels. When you consider the other factors at play in addition to the tariffs, and the volatility of it all, we will almost certainly see another price hike before the end of the year.
While annual across-the-board Rolex price increases on the first of the year have become the new norm, in addition to the January 2025 price increase, U.S. buyers were hit with an approximately 3% tariff/currency adjustment in May 2025. In addition to tariffs, the two main factors affecting Rolex’s decision to increase retail prices are rising gold and precious-metal costs; and currency and exchange rate fluctuations.
Gold Prices and the Swiss Franc Are Driving Costs Higher
Leading the charge, gold prices have surged sharply, with gold showing the largest annual increases in years and hitting record or near-record levels; as of this writing around $4,500 per ounce. That’s up an eye-popping approx. 70% since January 2025. Rolex of course uses gold in its yellow gold, white gold, Everose and Rolesor models, to varying degrees.
In addition, Rolex prices are ultimately denominated in Swiss francs (CHF) because the watches are made and priced in Switzerland. In simple terms, a weaker U.S. dollar relative to the Swiss franc makes the same Swiss-franc wholesale cost translate into a higher U.S. dollar retail price. Since January 2025, the U.S. Dollar has weakened noticeably and is down about 12% relative to the Swiss franc over the past year.
Since pre-owned, previously imported Rolex watches are not subject to the same tariff exposure or repeated, manufacturer-mandated retail price resets, they have become an increasingly compelling alternative for buyers. In many cases, lightly worn or even unworn examples are now available for thousands of dollars below current retail – particularly for precious metal and two-tone references that have seen the steepest MSRP increases. And this is likely to continue as long as tariffs, currency pressures, and raw material costs remain volatile.
What This Means for Rolex Buyers Going Forward
Between higher tariffs, rising gold prices, and a weaker U.S. dollar against the Swiss franc, the cost of buying a brand new Rolex in the U.S. is facing sustained pressure. The January increase was not an isolated event, and the pricing mechanics behind it suggest that further adjustments are likely rather than exceptional. For buyers, this shifts the decision from timing the market to choosing the right channel, whether that means paying current retail or looking at pre-owned Rolex watches for sale where pricing has not been reset in the same way.
