Rolex price hike in the UK thanks to weak pound sterling

ROLEX has upped prices of watches sold in the UK as sterling’s weakness had made the brand’s high-end timepieces cheaper to buy here than in other markets.

The price hike, first reported by trade publication WatchPro, comes amid growing concern at the strength of the pound, with some analysts suggesting it could near parity with the dollar next year if recession fears play out.

Despite the growing cost of living, luxury watches appear to remain very much in demand.

Watches of Switzerland, the timepiece retailer, recently announced plans to move into a 7,200 square foot flagship store in Mayfair after seeing strong results at the start of this year.