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Rolex hikes UK prices as pounds slides against the dollar

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Rolex has increased prices in the UK by up to 7%, as the pound slumps in value against the dollar.

Authorized dealers in the UK were notified of the change earlier this week and prices were updated across their websites on September 1.

The increases in the UK may be an adjustment to avoid the market becoming less expensive in comparison to other markets as the value of the pound has slumped by almost 10% against the dollar in the past three months.

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When the pound crashed following the vote to leave the EU in 2016, watch brands were slow to adjust prices, making the UK the cheapest place in the world to buy luxury goods.

The differential led to a boom that propelled the UK into the top five global markets for Swiss watches ever since.

In the UK, a Rolex Submariner no date, ref. 124060, was priced at £7,150 in April. The new price is £7,500, a 4.9% rise.

The Pepsi bezel GMT Master II 126710BLRO on a jubilee bracelet has risen from £8,400 to £9,000, a hefty 7.1% increase.

The legendary steel and ceramic Daytona 116500LN has been hiked a more modest 4.7% from £11,600 to £12,150.

Rolex has been contacted for comment.

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