How Much A Rolex Costs In Australia In 2023

The current state of the Rolex watch market in 2022.

Image: Wind Vintage

Simply put, Rolex is the world’s most valuable and important watch brand. But how much do their watches actually cost?


Since its founding in London over 100 years ago, Rolex has cemented itself as one of the most valuable brands in the world, with multi-billion-dollar turnovers every year. Their watches remain some of the most iconic and desirable timepieces on the planet.

While Rolex isn’t the most expensive luxury watch brand out there – in fact, their prices sit somewhere in the middle of the market, with other brands such as Audemars Piguet and Patek Philippe having far higher average prices – no other brand has as much cultural capital or cut-through. ‘Rolex’ is a byword for success.

Chief among the factors that have caused its value and the desirability of its watches is the fact Rolex watches are released in limited numbers, so getting your hands on one isn’t always as simple as just walking into a Rolex boutique, trying one on and walking away with it. It just doesn’t work that way.

If you want to get one from a Rolex authorised dealer (AD), you’ll have to put yourself on a waiting list. Depending on the model you’re after and the dealer’s ability to get one from Rolex, you could be waiting several years before your new timepiece makes its way to your wrist. There is also no guarantee you will actually get the model you want, as Rolex is known to stop making particular models without giving any real warning.

WATCH our guide to the most expensive Rolex watches of all time below.

The key to getting your hands on desirable Rolex watches is building up a relationship (i.e. purchase history) with an AD. The more watches you buy, the more likely you’ll be offered the chance to buy popular models, such as Daytonas or Submariners.

If you want to get your hands on one sooner, or you’re after a particularly exclusive model, a vintage one or one that was only released in extremely limited numbers, you’ll have to turn to an aftermarket platform such as Bob’s Watches or Chrono24 – although you’re likely to pay a hefty premium without benefitting from a warranty.

That’s why we’ve put together a list of all the official retail prices for the best and coolest Rolex watches in 2022 so you know what you can expect to pay if you want to own one right now, as well as explanations for the popular nicknames top models have been given by Rolex fans.

So, how much is a Rolex?

Rolex ModelCase Size (mm)Price (AUD)
Rolex Oyster Perpetual ‘Tiffany’36$8,150
Rolex Datejust41$11,400
Rolex Submariner ‘No Date’41$12,600
Rolex Submariner Date ‘Starbucks’41$14,950
Rolex GMT-Master II ‘Pepsi’40$14,800
Rolex GMT-Master II ‘Batman’40$15,100
Rolex GMT-Master II ‘Sprite’40$15,500
Rolex GMT-Master II ‘Root Beer’40$21,450
Rolex Cosmograph Daytona ‘Panda’40$20,400
Rolex Cosmograph Daytona Platinum40$110,000
Rolex Day-Date ‘President’40$52,850
Rolex Explorer I ‘Two Tone’36$15,700
Rolex Explorer II ‘Polar’42$13,300
Rolex Yacht-Master ‘Messi’40$39,450
Rolex Yacht-Master II44$26,300
Rolex Sea-Dweller43$18,250
Rolex Sea-Dweller Deepsea D-Blue ‘James Cameron’44$20,000
Rolex Sky-Dweller Yellow Gold42$56,450
Rolex Air-King40$10,350
Rolex Milgauss40$12,900

Rolex Oyster Perpetual ‘Tiffany’

Reference Number: 126000-0006
Case Size:
36mm
Material: Oystersteel
Bracelet:
Oyster
Price:
AU$8,150

Let’s kick things off with the Oyster Perpetual, Rolex’s entry-level model. Available in a wide variety of case sizes, dial finishes and materials, it’s a no-nonsense time-only piece that is as close to ‘affordable’ as a Rolex gets.

Naturally, prices vary dramatically depending on the variant, so we’ve singled out the popular 36mm ‘Tiffany’ as a yardstick. Why ‘Tiffany’? Well, it’s because of its turquoise lacquer dial, which resembles Tiffany & Co.’s signature blue. Tiffany dial Oyster Perpetuals are some of the most in-demand examples of Rolex’s entry-level watch.

Rolex Datejust

Reference Number: 126300-0022
Case Size:
41mm
Material: Oystersteel
Bracelet:
Jubilee
Price:
AU$11,400

Next up we have the Datejust, which is similar to the Oyster Perpetual but includes a date window, visible through a magnifying ‘Cyclops’ lens. The Datejust is one of the most versatile watches in Rolex’s catalogue and continues to be a popular choice among collectors.

Also like the Oyster Perpetual, the Datejust comes in many different sizes, case materials and so on. This example is made from Oystersteel (what Rolex calls their proprietary stainless steel alloy), is mounted on a Jubilee bracelet (one of a few signature Rolex bracelet designs) and features a mint green ‘fluted’ dial, a new design introduced in 2022.

Rolex Submariner ‘No Date’

Reference Number: 124060-0001
Case Size: 41mm
Material: Oystersteel
Bracelet: Oyster
Price: AU$12,600

The Rolex Submariner is arguably the most recognisable watch on the planet. First introduced in 1954, it was the first watch to be waterproof up to 100m, and while few professional divers wear Submariners on the job these days, it remains one of the most popular luxury dive watches on the market.

While most Submariners Rolex makes today feature date windows, this one doesn’t, much like the original model. It’s the most ‘pure’ Submariner – and also the cheapest, at least at retail. Because the Submariner is one of Rolex’s most popular models, waiting lists for the watch are exceptionally long.

Rolex Submariner Date ‘Starbucks’

Reference Number: 126610LV-0002
Case Size:
41mm
Material: Oystersteel
Bracelet:
Oyster
Price:
AU$14,950

Now we start getting into the weird nicknames – hold tight, there’s a bunch of them for different Rolex models. This Submariner with a black dial and green ceramic bezel is called the ‘Starbucks’, as the colour combination resembles those used by the multinational coffee chain.

It’s also perhaps inspired by the many drink-related nicknames other popular Rolexes have, which were all inspired by the GMT-Master ‘Pepsi’. On that note…

Rolex GMT-Master II ‘Pepsi’

Reference Number: 126710BLRO-0002
Case Size:
40mm
Material:
Oystersteel
Bracelet:
Oyster
Price:
AU$14,800

The Rolex GMT-Master II ‘Pepsi’ is one of the most coveted Rolex models – even people who don’t know anything about watches have heard of the ‘Pepsi’. The nickname comes from its red and blue bezel. These days, the GMT-Master II comes in a number of different bezel colour combinations, but red and blue is the OG colourway.

It’s a GMT watch, which means it can tell the time in multiple time zones – a very practical complication, especially if you travel frequently. Indeed, the watch was originally designed in collaboration with Pan American Airways for use by their pilots and navigators back in 1954.

Rolex GMT-Master II ‘Batman’

Reference Number: 126710BLNR-0002
Case Size:
40mm
Material: Oystersteel
Bracelet:
Jubilee
Price:
AU$15,100

A blue and black bezel? It can only be the Rolex GMT-Master II ‘Batman’, with the caped crusader’s outfit the inspiration for this fun nickname. After the Pepsi, the Batman is probably the next most popular GMT-Master II variant and is similarly hard to get your hands on.

This example is mounted on a Jubille instead of an Oyster bracelet. As of 2021, you can have the Pepsi or the Batman on either Oyster or Jubilee bracelets, although the latter is more expensive (a trend that is only amplified on the aftermarket).

Rolex GMT-Master II ‘Sprite’

Reference Number: 126720VTNR-0001
Case Size:
41mm
Material:
Oystersteel
Bracelet:
Oyster
Price:
AU$15,500

Unveiled this year at Watches & Wonders Geneva and also called the ‘Destro’, the Rolex GMT-Master II ‘Sprite’ is one of the most unusual and out-there watches Rolex has released in years. It’s a left-handed watch (i.e. designed for those who wear their watch on their right hand) but unlike most leftie watches, the date window and the crown are mounted at 9 o’clock instead of 3 o’clock.

If that wasn’t unusual enough, the Sprite/Destro also features a brand-new and totally exclusive bezel colour combination, black and green. While it’s designed for lefties, people of all sorts of handedness have been snapping these up, and demand is fierce.

Rolex GMT-Master II ‘Root Beer’

Reference Number: 126711CHNR-0002
Case Size:
40mm
Material: Oystersteel and Everose
Bracelet:
Oyster
Price:
AU$21,450

Completing our roundup of desirable GMT-Master II models is the ‘Root Beer’. It takes its ‘Root Beer’ nickname from the Rolex GMT-Master I ref. 16753, which featured a brown and cream-coloured dial, which this current version mimics with its two-tone steel and rose gold case (Rolex calls their rose gold ‘Everose’).

Naturally, because it’s partly made of gold, expect to pay a premium over pure stainless steel examples – although the price delta between two-tone and steel models narrows on the aftermarket.

Rolex Cosmograph Daytona

Reference Number: 116500LN-0001
Case Size:
40mm
Material: Oystersteel
Bracelet:
Oyster
Price:
AU$20,400

Ahh, the Daytona. Rolex’s famous chronograph is inarguably the brand’s most sought-after model and waiting lists for stainless steel examples like this one are as much as 5 years long. This one’s called the ‘Panda’ thanks to its white and black look.

As it happens, Paul Newman’s personal Rolex Daytona holds the record for the most expensive Rolex and third most expensive watch ever, having sold at auction back in 2017 for a whopping US$17.75 million.

RELATED: The Most Expensive Watches Ever, As Of 2022

Rolex Cosmograph Daytona Platinum

Reference Number: 116506-0001
Case Size:
40mm
Material: Platinum
Bracelet:
Oyster
Price:
AU$110,000

The Daytona is also one of only a handful of watches Rolex produces in platinum, and generally speaking, the platinum Daytona is the most expensive watch in Rolex’s catalogue (there are some off-catalogue watches that are more expensive, but you didn’t hear that from us…)

Rolex doesn’t offer a list price for the platinum Daytona – it varies depending on the platinum spot price, which is very volatile – but expect to pay around $110,000 for one at retail. Fun fact: Rolex reserves ice blue dials for its platinum models, so if you ever see a Rolex with an ice blue dial, that’s how you know it’s platinum.

Rolex Day-Date ‘President’

Reference Number: 228238-0003
Case Size:
40mm
Material: Yellow Gold
Bracelet:
President
Price:
AU$52,850

No other watch screams ‘old money’ quite like the classic Rolex Day-Date ‘President’. The nickname specifically refers to the yellow gold version of this watch on a ‘President’ bracelet and refers to the fact that every US President from LBJ to Clinton wore one of these bad boys while in office.

As the name implies, it features a day and a date window, the former spelling out the day of the week in full. The Day-Date is only ever made in precious metals (primarily gold) and is available in 16 different languages.

Rolex Explorer I ‘Two Tone’

Reference Number: 124273-0001
Case Size:
36mm
Material: Oystersteel and Yellow Gold
Bracelet:
Oyster
Price:
AU$15,700

One of Rolex’s most underrated watches, 2021 saw the time-honoured Explorer I crafted from two-tone steel and yellow gold for the very first time. Generally speaking, two-tone watches are easier to get your hands on than pure stainless steel or pure gold watches, but this popular Explorer I might. bethe exception to that rule.

The 2021 update to the watch brought the case size down to 36mm, which pays homage to the original model launched in 1953 following Sir Edmund Hillary and Tenzing Norgay’s groundbreaking Mount Everest ascent.

Rolex Explorer II ‘Polar’

Reference Number: 226570-0001
Case Size:
42mm
Material: Oystersteel
Bracelet:
Oyster
Price:
AU$13,300

Often mistaken for a GMT-Master II, the Rolex Explorer II looks nothing like the Explorer I. It’s a GMT watch like the GMT-Master II, but is slightly larger at 42mm and features a fixed stainless steel bezel as opposed to the ceramic-topped directional bezel of its more famous sibling.

It also features a stark white dial (hence ‘Polar’) although it’s also available with a black dial if the white look is too much for you.

Rolex Yacht-Master ‘Messi’

Reference Number: 126655-0002
Case Size:
40mm
Material: Everose Gold
Bracelet:
Oysterflex
Price:
AU$39,450

At first glance, the Yacht-Master is very similar to the Submariner, and that’s because it is. The main difference is that it has a matte black Cerachrom bezel with raised numerals and graduations as opposed to the Submariner’s gloss bezel, and it’s slightly less water-resistant with only a 100m rating.

It’s also available in a wide variety of case sizes/materials/etc. and is one of the few models that can be optioned with Rolex’s supremely comfortable silicon ‘Oysterflex’ strap. World-famous Argentine football player Lionel Messi owns one of these in Everose, hence the nickname.

Rolex Yacht-Master II

Reference Number: 116680-0002
Case Size:
44mm
Material: Oystersteel
Bracelet:
Oyster
Price:
AU$26,300

The Yacht-Master II is perhaps Rolex’s most misunderstood watch. Not only is it one of the biggest Rolexes currently in production at a hefty 44mm, but it also features a rather unusual complication: a regatta timer.

A regatta timer is used to count down the amount of time remaining before yachts competing in a race are allowed to cross the start line – a highly specialised and complex complication. Few Yacht-Master II owners use their watch for its intended purchase. But it’s pretty cool, right?

Rolex Sea-Dweller

Reference Number: 126600-0002
Case Size:
43mm
Material: Oystersteel
Bracelet:
Oyster
Price:
AU$18,250

If the Submariner’s 300m of water resistance isn’t enough for you, then why not try out its bigger brother: the chunky Rolex Sea-Dweller, which has 1,220m of water resistance. A Sea-Dweller is easily distinguished from a Submariner thanks to its size, its helium release valve at 9 o’clock and the red text on its dial.

Sea-Dwellers are somewhat easier to acquire at retail than Submariners despite looking virtually identical, but they’re not for everyone – you need pretty big wrists to pull one off. They’re also more expensive, which deters many prospective buyers.

Rolex Sea-Dweller Deepsea D-Blue ‘James Cameron’

Reference Number: 136660-0003
Case Size:
44mm
Material: Oystersteel
Bracelet:
Oyster
Price:
AU$20,000

But what if 1,220m isn’t good enough? Meet Rolex’s biggest and most capable dive watch: the Sea-Dweller Deepsea, which is rated at 3,900m. It too is easily distinguished from other Rolexes thanks to its thick rehaut and date window sans Cyclops lens.

This reference’s ‘D-Blue’ dial commemorates movie director and aquanaut James Cameron’s record-breaking 2012 solo descent to the bottom of the Mariana Trench, the deepest part of the Earth’s ocean, in the Deepsea Challenger submersible.

Rolex Sky-Dweller Yellow Gold

Reference Number: 326238-0009
Case Size:
42mm
Material: Yellow Gold
Bracelet:
Oysterflex
Price:
AU$56,450

The Sky-Dweller is Rolex’s youngest model, having only hit the market in 2012, and is one of the brand’s largest and most unique watches. It’s Rolex’s first and only annual calendar timepiece – which also happens to feature dual time zones – and is an interesting hybrid between a dress watch and a tool watch. It’s also a rather hard Rolex to acquire, especially this reference with an Oysterflex strap.

A GMT watch like the famous GMT-Master, the Sky-Dweller has a truly unique approach to telling time that’s quite unlike any other watch. The dial of the Sky-Dweller indicates the local time and date via the centre hands and 3 o’clock date window – so far, so normal – but also indicates the month by the small rectangular windows next to the hour markers, which change from white to red. The 24-hour disc in the middle of the dial displays a second time zone, intended to be your home time.

Rolex Air-King

Reference Number: 126900-0001
Case Size:
40mm
Material: Oystersteel
Bracelet:
Oyster
Price:
AU$10,350

From the hyped to the overlooked: the Rolex Air-King is an unassuming time-only piece that used to be one of the easiest Rolexes to get at retail – but thanks to a 2022 update, the spotlight’s been shone on the Air-King again.

The new Air-King now features a crown guard and the five-minute marker now read ’05’ instead of simply ‘5’, giving the watch a more symmetrical and consistent aesthetic.

Rolex Milgauss

Reference Number: 116400GV-0002
Case Size:
40mm
Material: Oystersteel
Bracelet:
Oyster
Price:
AU$12,900

Finally, we end our list with Rolex’s most obscure model: the Milgauss. So named because it’s capable of withstanding magnetic fields of up to 1,000 gausses, it was the first watch of its kind with such anti-magnetic properties.

The Milgauss stands out in Rolex’s range thanks to its tinted green sapphire crystal – a rather unusual feature – as well as its cool lightning bolt-shaped seconds hand. These days, most watches feature anti-magnetic shielding, but few are as cool as the Milgauss.

Rolex Price FAQ

How much is a Rolex?

A Rolex watch starts from about US$6,000 / AU$8,000.

How to tell if a Rolex is real?

Fake watches are getting very good and closer to the real thing these days. A tell-tale sign a Rolex is fake is if its second-hand stops at each second marker instead of sweeping smoothly (which indicates a quartz movement instead of an automatic movement – Rolex don't make quartz watches anymore). It's our recommendation that if you're looking at buying a watch second-hand then buy it from a reputable dealer.

Why is Rolex so expensive?

In short, we would say two things: brand prestige, and scarcity – Rolex only releases a limited amount of their most popular models.

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