Urgent: Rolex Demand Surges Amid 39% Tariff on Swiss Imports
UPDATE: Demand for pre-owned Rolex watches is skyrocketing as shoppers scramble to purchase before the 39% tariff on Swiss imports takes full effect. Just weeks before the new tariffs were implemented in August 2023, sales surged significantly, with collectors rushing to secure luxury timepieces.
The 39% tariff on Swiss imports is one of the highest in the world, prompting many buyers to turn to the secondhand market amid fears of escalating prices. According to reports from Bob’s Watches, sales transactions on their platform skyrocketed 36% year-over-year in July, compared to 20% growth in the previous quarter. This dramatic increase occurred as the watch community braced for the impending tariffs.
Many collectors are treating Rolexes like essential investments, with some predicting that prices could rise by as much as 35% in the next six months. Watch dealers, including Swiss Watch Expo, have indicated that the secondary market could see substantial price increases due to heightened demand.
Among the most sought-after models at Bob’s Watches are the Rolex Daytona, Submariner, and Datejust. These watches are not only symbols of status but also perceived as “scarce assets” that will only appreciate in value over time, especially in light of the new tariffs.
The Rolex Daytona, starting at approximately $19,495, is particularly coveted for its rich racing history and limited availability. “Despite market swings, when tariffs hit, buyers see these pieces as scarce assets that will only climb over time,” stated Paul Altieri, CEO of Bob’s Watches.
The Rolex Datejust, which begins at around $6,500, serves as an entry point for luxury watch collectors. Its versatility and timeless design make it appealing to new and seasoned buyers alike. Altieri noted, “The Datejust remains a timeless entry point, attracting both first-time buyers and seasoned collectors.”
The Rolex Submariner, starting at nearly $10,000, is another top pick, known for its rarity and vintage appeal. It leads the pack of steel sports models with strong demand among collectors. Bob’s Watches highlighted several references including 116610 and 16613 as best-sellers.
Finally, the GMT-Master II, valued at about $20,595, is gaining traction due to its functional versatility in both formal and casual settings. Altieri emphasized, “With international travel roaring back, the GMT has become both functional and collectible. Add tariffs into the mix, and buyers are chasing these references even harder, knowing future costs may only rise.”
As the luxury watch market adapts to these shifting dynamics, potential buyers are encouraged to act quickly. The implications of the new tariff are clear: the time to invest in a Rolex is NOW. Watch enthusiasts and collectors are responding with urgency, making the secondary market hotter than ever.
Stay tuned for more updates on this developing story as we continue to track the impact of tariffs on luxury watch prices.
