Price hikes so far in 2023
Today I've noticed that Nomos increased the prices of most of its watches by 200 EUR. A few days ago I read that Tudor increased prices with 9% on average in January. Not unexpected at all, given the massive inflation in the past year, but it got me wondering whether some brands might be behind with such price increases and could have become a better value because of this.
Which brands have hiked their prices so far in 2023?
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Neo Matik
Newly minted watch enthusiast (I got seriously interested in watches in late 2022). I aim to build a small collection (5-6) pieces over the course of the years. I'm mostly into Tudor & Seiko these day...
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6.70” / 17.02 cm
I spoke to my AD last Saturday and they said Omega prices went up three times last year and they were put up again for a fourth time this Monday, yes there's an element of inflation, but I also suspect Omega has seen what Rolex are able to get away with price-wise and are seeing if they can do the same.
I noticed the new Omega AT went from 6k>6.3k, Rolex 36mm OP when from 5.8k>6.1k, Tudor BB58 from ~3.6k>3.9k, Longines 37mm Spirit 2.4k>2.5k
I spoke to my AD last Saturday and they said Omega prices went up three times last year and they were put up again for a fourth time this Monday, yes there's an element of inflation, but I also suspect Omega has seen what Rolex are able to get away with price-wise and are seeing if they can do the same.
Yeah, I've noticed that Omega's prices have moved up quite a bit in 2022. I was also wondering how much of this is inflation-related and how much is just "feeling lucky" (trying to play Rolex's game).
Yep the Speedy is now £7400. £600 increase. That’s just crazy And I don’t think I will be buying one anymore.
its increased a total of £1300 in a year. Unjustifiable to me.
Yep the Speedy is now £7400. £600 increase. That’s just crazy And I don’t think I will be buying one anymore.
its increased a total of £1300 in a year. Unjustifiable to me.
Totally justifiable if demand exceeds supply. Everything I’ve read is that Speedmaster sales are way up year over year. Lots of factors for that, Moonswatch release, new movement, new bracelet, etc. But if you have wait lists at $6,800, then a hike to $7,400 is justified.
I know JLC raised their prices significantly. I think the Reverso Tribute Duoface, which used to be sub $10k is now over $11,700.
I have a feeling that some of these companies (especially JLC, but the others too down the line) might come to regret their pricing strategies. I bet a lot of these decisions were made when the secondary watch market was cresting the wave. Personally I don’t think the primary market is going to be as strong going forward and if brands don’t have a tight rein on balancing supply the days of steep discounting will be back. I certainly wouldn’t consider a new Reverso at list looking at secondary prices.
Christopher Ward went up a bit across the board. The C60 Anthropocene went up $200 by itself, which is annoying since I’m selling some watches and other things to get one 😂
Seriously does make you consider the hobby and also long term goals, its almost a moving target!
The Seamaster I bought last year is now £1k more expensive and from speaking with the AD, discounting is being clamped down on massively.
The problem is many other value propositions (PRX for example) have also had a price hike. Just enough to nudge it out of being a propsective purchase for me and the wife.
I wonder if these brands send Christmas cards to the trustees of the Wilsdorf foundation.