CNN reports, that the prices of some models of watches made of gold have increased even by 14%. Whereas watches made of steel have increased by 3% on average.
An expensive Rolex even more expensive
One of the most popular models Rolex – Daytona – recorded the largest price increase . The version of white gold with the OysterFlex bracelet costs now 38 100 dollars, which is a significant increase in comparison with 35 000 dollars last year. Another model, GMT-Master in yellow gold, is valued on the internet Rolex at 43 300 dollars, which represents an increase of almost 7%.
Rolex refused to comment to CNN, but the manufacturer of luxury watches has raised prices every year, with why the increase in gold prices is the main reason for the double price of gold watches.
Prices of gold have increased by 27% over the last year, when central banks across the world lowered interest rates. Investors often perceive gold as “a safe haven in times of economic turmoil and inflation.” a with lower interest rates gold can become more attractive, than assets producing income, such as bonds.
Increases in prices may …. attract to shops
CNN writes, that no one should expect, that higher prices will discourage buyers and collectors of watches. On the contrary, wealthy customers dispose of large financial resources, which “are rarely affected by market fluctuations influencing ordinaryconsumers.”Apparentlyincreasesinpricesdonotonlyleadtosignificantlossofcustomers,butbecomeakeystrategy.
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