Being a Rolex guy is becoming even more costly. The Crown just raised prices for the second time this year, as the spot price of gold continues to fluctuate amid ongoing geopolitical tensions.

The Swiss watchmaker typically increases prices at the start of the year and occasionally during the middle of the year, depending on fluctuations in currency exchange rates and material costs. It did so in 2025, raising prices in January and again in May in the wake of the U.S. import tariffs on Swiss goods.

Collectors are, unfortunately, experiencing another double hike this year. Rolex increased prices by an average of 7 percent in the U.S. and 5.2 percent in the U.K. at the beginning of the year. The Crown also raised the price of gold watches by an average of 5 percent across major markets this ‌month, Reuters says, citing two luxury research platforms and two watch dealers. The move has surprised the industry. 

“No one saw it coming,” said Erik Boneta of Boneta Inc, a U.S. certified pre-owned watch dealer.

Other leading luxury brands have also increased prices. Tudor and Audemars Piguet imposed significant hikes alongside Rolex in January. Cartier also raised prices on gold watches by up to 10 percent last month, Mark Xu, head of marketing ⁠at research platform WatchCharts, tells Reuters. Richemont, Cartier’s parent company, addressed the hike in its annual report, stating that it had implemented measured price increases due to rising gold prices and currency swings.

Those extra dollars are unlikely to deter serious collectors. Demand for Rolex watches, in particular, will continue to outstrip supply, according to Simon Lazarus, ​head of PR and content at online luxury watch platform Chrono Hunter. “It comes down to brand desirability,” Lazarus told Reuters. “Rolex has always been the high flyer.”

Swiss luxury watch exports to the U.S. actually dropped by more ​than half (56.4 percent) in April compared ​to the same month last year, when watchmakers were rushing to get inventory stateside before the tariffs kicked in. That seesaw pattern will likely continue through the year, Vontobel analyst Jean-Philippe Bertschy told Reuters, making the exports to the U.S. difficult to read. Overall, the market appears to be in good shape, with Swiss luxury watch exports having more than doubled from pre-pandemic levels.