Story Highlight
– Swiss watch prices adjusted due to gold and currency fluctuations.
– Rolex saw average US price rise of 14.6%.
– Patek Philippe cut US prices by 8.6% amid tariffs.
– Audemars Piguet raised prices due to high demand items.
– Luxury watch exports decline, while high-end prices rise.
Full Story
As spring approaches, the effects of recent price adjustments across major watch brands have come into focus. A thorough examination reveals the varied strategies employed by Swiss manufacturers amidst a backdrop of fluctuating market conditions.
The impact of rising gold prices, a robust Swiss franc, and government tariffs—such as those implemented during President Trump’s administration—has significantly influenced all stakeholders, including manufacturers, retailers, and consumers. In the UK, additional burdens from increases in the national insurance and minimum wage have further testing financial margins.
Inflationary pressures and currency strength are not the only challenges faced. The imposition of tariffs led to increased costs not only for Swiss watches but also for essential construction materials required for luxury retail establishments, complicating store renovations and openings.
In response to these market dynamics, WatchPro monitors price variations among a selection of over 60 watches from ten key brands, encompassing both men’s and women’s models, and a spectrum of materials, from gold to steel. The data offers a comprehensive snapshot of shifts in the primary market, which serves direct consumers and authorised dealers.
2025 bore witness to considerable turbulence, particularly in the United States, where brands frequently adjusted their pricing in response to escalating costs and fluctuating tariffs.
Rolex, maintaining its reputation for exclusivity, saw an average price increase of 14.6% in the US within a year, despite opting to limit adjustments in response to government tariff changes. For instance, the price of a 41mm DateJust in Oystersteel surged from $8,050 to $8,950—an increase of 11%—while a steel Submariner’s price rose by 10%. Comparatively, gold variants such as the 40mm white gold Day-Date and Daytona experienced a notable 20% uplift.
During this period, Rolex implemented three price increases across the US market, while the UK saw adjustments occur only at the beginning of 2025 and 2026. These strategic price changes underscore Rolex’s distinct market position compared to its competitors.
In contrast, other Swiss brands adopted a more cautious stance early in 2026, acknowledging the price sensitivity of consumers. Many are now turning to the secondary market for better deals, where prices can be significantly lower than at authorised dealers.
Patek Philippe faced its own set of challenges, having escalated prices in the US in reaction to rising tariffs. However, once import tariffs were reduced from over 40% to 15%, the brand found itself with higher prices in the US compared to the UK. Consequently, Patek Philippe made the rare decision to reduce prices by 8.6% stateside while concurrently raising them by 4% in the UK.
To illustrate, the white gold Cubitus Ref. 7128/1G-001 was priced around $100,000 in the US when including sales tax; in contrast, the same watch at £65,600 (approximately $89,440) in the UK. Following adjustments, the watch now retails for about $90,860 in the US and £68,220 in the UK, narrowing the price gap significantly.
Audemars Piguet mirrored Rolex’s pricing strategy with an average rise of 7.5% in the US but a more moderate 2.5% in the UK. The brand opted for higher increases on its more sought-after models, particularly within its Royal Oak line, while maintaining stability across less popular ranges.
Tudor, another brand under the Hans Wilsdorf Foundation, adjusted prices by an average of 5.6% in the US and a slight increase of 5.8% in the UK. Despite fewer gold pieces in its collection, the gold-on-gold Black Bay 58 saw notable price enhancements.
Out of the ten brands tracked, only Rolex, Tudor, and Audemars Piguet raised their prices in January 2026, with Patek Philippe making its changes in February. Among the other brands assessed, only TAG Heuer initiated a cross-catalogue pricing adjustment, while Omega’s prices for steel, titanium, and ceramic models remained unchanged.
Analyzing the broader landscape, the Swiss watch industry has experienced a decline in unit sales over the years; however, a rise in average selling prices has offset this downward trend—at least until recent years. The number of units exported fell dramatically from 24.4 million in 2005 to 15.3 million in 2024, yet the total value surged from CHF 11.4 billion to CHF 24.8 billion.
While premium brands have expanded their portfolios, the lower end of the market has suffered, indicating a bifurcation in the industry. The segment selling watches above CHF 3,000 has thrived, with export volumes almost tripling and average wholesale prices increasing significantly.
Recent price hikes for luxury watches are likely to further accelerate these prevailing trends. The Federation of the Swiss Watch Industry reported a drop in total export volumes alongside a slight decline in total value, yet high-end watches still yielded significant revenues.
The outlook for many brands not in the luxury category appears uncertain, as rising costs coupled with consumer resistance to price increases may lead to market consolidation. This evolving landscape suggests a culling of weaker brands, with successful companies standing to gain from shifting consumer dynamics and preferences.
