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Rolex Watch: Even in the era of smart watches, there is no dearth of people turning wrist watches of other famous brands into status symbols. The biggest dream of such lovers is to adorn their wrist with a Rolex watch. But these dreams have been hit hard in recent times. This has happened due to the huge increase in the prices of watches of the Swiss company that manufactures Rolex watches. This company says that due to the huge increase in the price of gold, the prices of different models of Rolex watches have had to be increased. The basis for increase in prices is different in all countries. This has also been decided on the basis of the value of the currency and inflation of that country.
Watch becomes expensive due to rise in gold price
To give a luxury look to Rolex watches, gold is used in making the dial and frame, hands and other parts according to different designs. Due to this, due to increase in the price of gold, the prices of watches have been increased by 8% to 15% depending on the amount of gold used in different designs. Due to the huge rise in gold prices in 2024, the world’s most luxurious Swiss watch brand has had to do this in some popular models.
The company’s headquarters is in Geneva
The headquarters of Rolex watch manufacturing company is in Geneva, Switzerland. The company is named after its co-founder Hans Wilsdorf. This company is controlled by a Swiss foundation. Due to increase in price, on January 1, the price of yellow gold day dial with 40 mm black dial increased from 41 thousand euros to 44,200 euros i.e. 45,809 dollars. Similarly, the price of Yellow Gold GMT Master-11 increased from 41,300 Euro to 44,600 Euro. Rolex usually increases the prices of its watches after reviewing them on January 1.
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