Rolex Daytona ref. 126598TBR and 126538TBR. (Credit: Rolex)
Starting Jan. 1, 2025, Rolex will raise the prices of all its yellow gold, white gold and Everose Daytona models by 14%. The price hike will be limited to 7% for the gem-set versions.
That’s because demand for diamonds has plunged, especially in China, leaving the global market with a glut of unsold diamonds, one of the biggest in 15 years.
The diamond market is facing also increased competition from the lab-grown variance, which costs about one-twentieth of a natural stone. Rolex says it does not use lab-grown alternatives and relies on its in-house gemology laboratory to certify the natural origin of all its diamonds.
Still, the appeal for lab-grown diamonds continues to expand, particularly in the U.S., the world’s largest luxury watch and diamond markets. Lab-grown diamonds eliminate the ecological disruption associated with mining. Rolex says it sources diamonds from a limited number of trusted suppliers and will soon introduce digital traceability.