Rolex quietly raises prices more than 8% after gold bashes through new records [Fortune]
Goldman Sachs Group, Inc. (The) (GS)
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Source: Fortune
than 8%. The change comes after a record-breaking year for gold, which peaked at a high of $2,790 per ounce. The price tag of certain new Rolex timepieces has become even more eye-popping, and it may be thanks in part to the rising costs of precious metals, particularly gold. Ringing in the new year, Rolex increased the cost of its yellow gold GMT-Master II to about $45,700 (€44,600) from $ 42,310 (€41,300) last year and its yellow gold Day-Date with a 40-millimeter black dial to $45,800 (€44,200) from about $42,000 (€41,000), according to its French website, Bloomberg reported . The 18-karat gold Day-Date, for instance , contains by some estimations more than 100 grams of gold in the case and bracelet, depending on consumer customizations. That price raise is more than 8%. Meanwhile, Rolex's steel watches also saw a price hike, but by only about 2% for its Submariner model and 3% for its Cosmograph Daytona watch. Related Video A Rolex spokesperson did not immediately respond
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