So far, we have been talking about small-value deals that everyone can try on daily purchases right away. This post is not for everyone as we are talking about luxury watches. Some people may wonder why on earth would someone spend a large sum of money into a watch that most likely won't generate money? Instead, this money can be used to fund a new car or house. I used to be that person but now I'm a big fan.
If you are into watch accuracy and functionality, get yourself an Apple watch. However, you are most likely to view it as a technology piece just like Iphone which get obsolete every time a new version comes up. There's no emotion to it.
If you appreciate the history of the watch brand, feel emotion to these watches and you have to get these watches no matter, then let's cut to the chase. Since most watches value will go down most of the time (except for specific pieces from brand such as Rolex, AP, PP), your best bet is to find a great deal so that it doesn't hurt you when you decide to sell it.
Here are some suggestions (note that the discount can vary according to brand. Some brands no longer give discount anymore):
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If you are into watch accuracy and functionality, get yourself an Apple watch. However, you are most likely to view it as a technology piece just like Iphone which get obsolete every time a new version comes up. There's no emotion to it.
If you appreciate the history of the watch brand, feel emotion to these watches and you have to get these watches no matter, then let's cut to the chase. Since most watches value will go down most of the time (except for specific pieces from brand such as Rolex, AP, PP), your best bet is to find a great deal so that it doesn't hurt you when you decide to sell it.
Here are some suggestions (note that the discount can vary according to brand. Some brands no longer give discount anymore):
- Authorized Dealer (AD)
- Purchasing watch from AD is the best option as you can get the manufacturer warranty.
- If you are able to build relationship and negotiate with them, you can get a good discount.
- I purchased my first watch in Singapore which unfortunately has higher retail price than in US. Through a friend's help, I was able to get 25% off from AD and get a tax refund in airport.
- I obtained the second watch for 32% off after much bargaining.
- Pre-owned Market
- Obviously, you can get a discount in the pre-owned market. However, you have to do research on the seller (Can you trust them?) and the watch (What's the watch condition? Does it has warranty?) to make sure you get the best deal.
- I got my third watch from WatchBox which is co-founded by an AD (Govberg). There are many articles about Watchbox and the rise of pre-owned market and this is one of them. The listing price was 25% off retail price and I negotiated it down to 39%. It was in a mint condition and the manufacturer warranty was still effective which allowed me to extend it to another 5 years due.
- Trusted Sellers
- There are sellers out there which have built relationship with their ADs where they buy large volume with discount and re-sell them in the market. The watch comes with manufacturer warranty but the date may already be stamped. So you may not get the full warranty period.
- You have to do your research in watch forums in order to find these trusted sellers.
- Usually most transactions go smoothly. If I recalled correctly, I have heard one instance where the seller opened the watch to authenticate the watch. However, this was detected by the watch service center which led to a void of the manufacturer warranty.
- Grey Market
- Similar to Trusted Sellers, these sellers got the watch from their ADs but do not come with the manufacturer warranty. For example, Jomashop.com. They provide their in-house warranty but note that your watch value may decline if these repair shop replace parts using non original parts. Worse yet, the watch service center may void your watch warranty if they detect that your watch has been tempered by unauthorized service center.
- Getting goodies such as champagne and chocolate to celebrate your purchase
- Getting free goodies periodically on events such as Christmas. I've seen people posting pictures where they get whiskey, watch-branded watch case, cufflink.
- Better yet, if you have good relationship with the same Boutique, you may be invited to their events, locally or internationally with all expense paid (airfare, meal, hotel).
Like what you see? Put your email address in the link on the right/bottom for new posts. Feel free to comment below if you have any questions.
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