- Grey market watches reddit
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- Authentic watches
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- Best grey market watch dealers
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Grey market watches reddit
Log in Sign up. Share With Us. Can someone please explain Jomashop to me? Sign up to become a TPF memberand most of the ads you see will disappear. It's free and quick to sign upso join the discussion right now! Our PurseForum community is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker. Thank you! Feb 24, 3, Posts. I've seen Jomashop mentioned a lot on this site but am confused! I'm confused by the "grey market" term Is it a risk? And is it worth it? Oct 19, 26, Posts. Jun 18, 8, Posts online store My Website. Also, you don't get manufacturer warranty. May 29, 3, Posts. Toto too. Nov 21, Posts. You might want to check with the watch manufacturer to see if they'll service it for you under warranty if you purchase it there. When I called the manufacturer, they told me that TJ is authorized for them, and all I have to do is send the receipt with it. Jul 16, 6, Posts Female. Michele has serviced a watch that I bought from Jomashop Apr 4, 2, Posts. Mar 30, 3, Posts. Being a fellow Canadian, I should mention that you need to be aware of the duty charges on a big ticket item like that. It will completely negate the savings. The coaxial escapement would be super expensive to service too, if something isn't right. Best to have that covered under warranty! Jan 7, 1 Posts. They have no customer service and if you try to call the phone number you get voicemail and NO return call. After all the problems I had with them I return the watch to find out that they are charging me back for the "free" shipping. They are scam company!!!
Peter Grant, general manager at AuthenticWatches. Grant says he resents the term because it implies — incorrectly, he says — that the independent websites are somehow not professional. Swiss watch brands have long earned handsome profit margins. But pricing is not the only reason that brands are being undercut by online dealers, according to an April report on the watch trade by L2, a business consultancy based in New York. Few watch brands invest in search-engine marketing, allowing gray sites to dominate online sales, the L2 report said. Breitling did not respond to emails seeking comment. Grant said some prospective clients still fear buying a fake watch online but that such concerns have faded over the last decade as AuthenticWatches. A common customer complaint about gray market sites is that their watches do not come with the brand warranties, the repair and support pledges that are a hallmark of many top-end Swiss makers. But Mr. Grant said his site offers a warranty that he described as sometimes better and sometimes worse than brands provide. Watch brands appear to perceive gray-market businesses as adversaries — even if some dealers maintain that brands quietly appreciate how their sites help to offload inventory. For example, a lawyer for Breitling recently ordered Mr. Biver said in the letter, which was seen by The Times. At least one luxury watch brand — Rolex — has been at the center of a yearslong legal battle with a gray market merchant. Ina wholesaler that supplies watches to gray market sites, Boneta Inc. After those were seized at John F. Boneta said in a recent telephone interview that no charges were filed and that he expected the gray market to endure, even if brands reduce production or improve their online retail presences. Home Page World U.
Breguet Marine Chronographe Iconic Breguet codes with a contemporary twist. Breguet Marine: inspired by the sea. Manufacture caliber QA. Exclusive edition of 60 movements. Retrograde perpetual calendar, automatic movement. Precision moon phase. Slate guilloche dial, blue aventurine moon phase. Retrograde perpetual date. Hand-knurled bezel. Friends, colleagues, and clients have posed many questions about the grey market for fine timepieces over the years. Most recently, my post A Cautionary Tale on Buying New Watches Online was met with quite a few comments, quite possibly leaving more questions than answers. And let me be clear from the get-go: this is not a rebuke of online stores, grey market dealers, or the many people working on that side of the industry. Many are highly reputable; some are not. The truth is that the grey market exists because the brands themselves not only allow it to happen, but in many cases directly feed it. The grey market serves a purpose that, in my humble opinion, is detrimental to any brand involved and the industry as a whole. The classic authorized retail channel works this way: a brand manufactures watches, which are sold to official distributors throughout the world. The distributor then sells the watches to authorized retailers, who sell the watches to retail clients. Grey market retailers are not part of that authorized retail chain, but they still manage to obtain and sell new timepieces. Simply put, this non-authorized side of retail provides the brand or retailer with the ability to clear excess or old inventory. When a brand or retailer has excess inventory, it might approach grey market dealers with offers to purchase that inventory in bulk at deeply discounted prices. Pre-Internet, grey market retailers often existed in major cities and had a storefront think 47 th Street in Manhattanwhere they displayed the watches and sold them at discounted prices. These pre-Internet transactions had little effect on the typical authorized retail channels because unless you actually walked into a grey market dealership, it was highly unlikely you would ever know they existed or that you could purchase watches at seriously discounted prices. Since the Internet, grey market retailers have been able to create a presence on the web, so doing a Google search for a watch is likely to allow consumers visibility of the prices offered by grey market dealers and buy online. The negative effects of this turn of events on the official side of the industry are extremely damaging for authorized dealers, distributors, and even the brands themselves. The retailer is then forced to either sell the watch for little or no profit or not make the sale at all. The biggest challenge that the grey market creates again, in my opinion is to the brands themselves. Brands that take the most advantage of supplying the grey market eventually gain a reputation for their watches being essentially worth much less than the retail price indicates. When that happens consistently for a period of time, clients and authorized retailers alike tend to stay away from purchasing any watch from that brand completely. When you ask this question, most people in the know will answer by spinning a yarn. It is the brands themselves that largely supply the grey market. Whether they sell to grey market retailers directly or through a grey market wholesaler, as I stated earlier, they do it to generate short-term cash flow and eliminate slow-moving inventory. Grey market dealers have relationships with a few authorized retailers and when they have a demand for a specific watch, they can call the retailer and purchase it when they get an order. The answer is simple. Brands impose strict limits on authorized retailers regarding how much they can discount no matter how much excess stock they may have. Even though the margin they might make selling to the grey market may be very small or non-existent, dozens or more watches sold to a grey market dealer over the course of time add up and the cash flow generated can be the difference between surviving until better times or going out of business. Both have annual inventory sell-through well into the high 90 percent range.
Grey market watches ukThis copy is for your personal, non-commercial use only. Inwith clients calling him up after comparison shopping online and asking him to undercut his own prices at a loss, he stopped selling timepieces altogether. Websites like Jomashop. Industry sources tell us that sellers from 47th Street in Manhattan to the Gold Souk in Dubai, who once trafficked solely in preowned watches, are now quietly working in league with authorized dealers. Eager to offload their stalled inventories, some authorized dealers act as suppliers to the gray market. Internet forums and blogs have demystified the business and new digital entrants are changing the industry. Chrono24 is an online marketplace for new and preowned watches, based in Karlsruhe, Germany, that publishes all the available information about a watch, including its price. Dealers pay a monthly subscription fee to list their watches on the site. Shoppers can opt to buy at the price advertised or make a counteroffer, enabling them to view comparables in multiple countries. Available deals? We recently found a platinum A. Paul Altieri, who relaunched the site seven years ago after acquiring the domain name, modeled it on a stock exchange. Why not for watches? Altieri says he makes to transactions a month. Seduced into buying a luxury watch on the gray market? There are pitfalls. Most brands will not honor a warranty on a timepiece purchased from an unauthorized dealer; you could be on the hook for any servicing or repairs. The gray market largely moves excess inventory, which means much of what buyers are looking at are closeouts from an earlier season. A buyer may also unwittingly purchase a stolen watch or a fake. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at or visit www. We've detected you are on Internet Explorer. For the best Barrons. Own Invest Give Collect Experience. Text size. Thank you This article has been sent to. Privacy Notice. Cookie Notice. Copyright Policy. Data Policy. Your Ad Choices. All Rights Reserved. All Rights Reserved This copy is for your personal, non-commercial use only.
Authentic watchesGive us a try before you buy your watch from a non authorized grey market retailer. Put simply, it is a watch being offered for sale in the USA which was meant for a different world market. The manufacturers have contracts with USA importers for exclusivity, and this grey market works outside of that. You can usually tell if a watch is being sold grey market; authorized dealers are not allowed to advertise watches at a major discount. Most major Swiss brands will have a disclaimer on the main websites about their warranty policy. Grey market goods are usually the genuine article. They are the same product you would get walking into your fine jeweler. And they are available at significant savings. Free shipping. No sales tax. Tempting, I know. The USA distributor did not benefit from the initial sale of the product. Go to Burger King and complain that your Big Mac was cold. Grey marketers get around this by offering their own warranty. This is the scary part. A company selling on razor thin margins cannot possibly staff a quality watchmaker or team of watchmakers if they are a bigger operation. Grey market companies do not have access to genuine spare parts. This high quality watch is going to be repaired by the lowest bidder using generic parts. When you decide, you have to compare the upfront savings to the potential costs. This article was written to educate, not to frighten. If the up front savings are so much that, even if the watch fails, a paid factory repair is still less than the authorized selling price, it is logical to at least consider sourcing from a reputable grey market dealer. We are an old fashioned, service-based business. All of our watches have been purchased via the authorized channels. Watches look far better on your wrist than in my showcase. We may surprise you- and the warranty and after sales service is not even a question. Also, we have some brands on clearance, check out this list. You can also follow us on Instagram or Facebook. So what does this mean? So, what does this all mean?
Ad vs grey market watchesKeep abreast of significant corporate, financial and political developments around the world. Stay informed and spot emerging risks and opportunities with independent global reporting, expert commentary and analysis you can trust. Sign in. Accessibility help Skip to navigation Skip to content Skip to footer. Become an FT subscriber to read: The billion-dollar grey market in watches upsets big brands Make informed decisions with the FT Keep abreast of significant corporate, financial and political developments around the world. Choose your subscription. Not sure which package to choose? Try full access for 4 weeks. For 4 weeks receive unlimited Premium digital access to the FT's trusted, award-winning business news. Team or Enterprise. Premium FT. Pay based on use. Group Subscription. All the benefits of Premium Digital plus: Convenient access for groups of users Integration with third party platforms and CRM systems Usage based pricing and volume discounts for multiple users Subscription management tools and usage reporting SAML-based single sign on SSO Dedicated account and customer success teams. Learn more and compare subscriptions. Or, if you are already a subscriber Sign in. Close drawer menu Financial Times International Edition. Search the FT Search. World Show more World. US Show more US. Companies Show more Companies. Markets Show more Markets. Opinion Show more Opinion. Personal Finance Show more Personal Finance.
Best grey market watch dealersWhile still out of reach for most people, the increasing prevalence of such deals highlights the perplexing predicament in which luxury watchmakers now find themselves. However, a sudden end to a boom in Chinese demand is forcing the brands to begin working quietly with dealers in the gray market, occasionally to help with sales but mostly to secure some influence over the unofficial resellers, according to dealers and industry executives interviewed by Reuters. He said that in some cases operators in the gray market are cooperating with the brands, removing new models from sale when asked or reducing discounts manufacturers consider excessive. S and Richemont CFR. Srefused to discuss their strategy with regard to the gray market, some manufacturers may find that it offers benefits. Another gray market dealer said he will sometimes withdraw watches if asked by manufacturers and that brands regularly offer U. But demand has dropped sharply in the past two years as extremist attacks have deterred tourists from visiting Europe, where many of the watches are sold, and China has cracked down on luxury gift-giving by civil servants. It was difficult to rein in production when demand fell, partly because the watches are put together slowly in stages, meaning production plans are often made two years in advance. In the good times, the industry can take home 20 percent of sales as profit and retailers are still left with an attractive margin of up to 45 percent. But when business tails off, the manufacturers do not allow official retailers to cut sticker prices too far, fearing that big discounts will damage their brands — a policy that may push cash-strapped retailers to sell to the gray market. Swiss watch exports fell 8 percent in the first two months of this year, on top of a 10 percent drop last year. In the gray market sales are often clinched in small, shabby stores or via online platforms that do not have most of the watches in stock and source them only when orders are placed. Randall said that brands vary in their efforts to keep products out of the gray market. Some of the hardest to source are Patek Philippe and Richard Mille, which both keep a tight rein on production. Audemars Piguet, another independent brand, only distributes certain models through its own boutiques. The unnamed U. The United States is the second-biggest market for Swiss watches and is a hub for gray market watches, with online platforms such as Jomashop. He confirmed that brands sometimes offer him new pieces to sell as pre-owned but would not name them and said it was only a small share of his flourishing business. The gray market is by no means restricted to the United States. Othe unnamed watch industry executive said. As its name suggests, there are no statistics on the gray market and few dealers are willing to explain how the system works. Unlike fakes, gray market watches are legal, authentic goods sold by their rightful owners, though they generally come without factory warranties because brands refuse to service watches that are not sold via their official networks. While that might deter some buyers, other more price-conscious shoppers may actually prefer the convenience of the online platforms that are tempting potential customers with trade-in schemes for old watches, financing solutions, price-match guarantees and their own warranty and service centers. Randall said he has been sourcing most of his watches in the United States to get them to customers quickly but can also find good deals in Europe thanks in part to the strong dollar. Kazmi was concerned at first about the legitimacy of Jomashop and the absence of a factory warranty, but the big discount tipped the scales, he said. Discover Thomson Reuters. Directory of sites. United States. Technology News. Silke Koltrowitz. Picture taken March 22, Editing by David Goodman.
Rolex grey market
Are you in the market for a lower priced Swiss watches? You may have noticed the low prices offered on different sites that are on the internet. Today, I will discuss the major points that are important when you buy a watch online, let us take AuthenticWatches as a good example to walk you through. Also, I am here to examine all the pros, cons, and risks correlated regarding on buying a gray market watch. However, some of these timepieces are available to purchase through authorized dealersbut if you want to get them at a lower priceyour best option is the gray market. First and foremost, let us fix a major issue. The gray market is not illegal at all. It is mostly referred as a parallel market that channels through imported goods by distributors that are unauthorized by the original manufacturer. It consents USA consumers to buy products that are not meant to be sold in the USA market, and at the lower prices usually paid overseas. The gray market is different from the black market because the goods in the black or underground market are all illegal to buy in the USA. Even though you are not breaking any law by purchasing gray market products, there are still a few important notes that you would like consider. Gray market watches are authentic watches from the original manufacturer. They are not factory seconds or fakes. What makes them different is that they passed through a reseller or an unauthorized dealer on your way. If you purchase or plan on purchasing from gray market sites that have an excellent reputation and are highly known to be selling of authentic watches, such as the AuthenticWatches, then you are in good hands. AuthenticWatches can guarantee that they only sell authentic watches since all of their items come from authorized dealers that are scrutinized upon arrival to ensure authenticity and quality. Their watches will be no different from anyone that is purchased from a licensed dealer. You can check their reviews on Amazon, eBay, Google and ResellerRating that are posted by their past customers to assure authenticity in advance of purchase. Also, you can confirm by any reputable watch dealer in your local area once you have received the item. A piece of advice from AuthenticWatches is if you submit your watch for verification to a local dealer, it is best to inform the dealer that you received the watch as a gift. In this way, you will be getting an honest evaluation of authenticity since the local dealer might not take it seriously to having lost transaction to another vendor at a lower rate. Also, be mindful that some gray market dealers are dishonest. Hence, being a buyer, you must be fully aware. If you are doubtful about the status of the gray market seller you are thinking of buying a new watch from, then consider buying the watch elsewhere. If you are looking at a definite watch on a gray market site, you must first check if the site has a toggle switch that allows users to change the default currency to your desired currency. If there is no toggle switch and its default currency is in US dollars, you can do the calculation of the approximate cost using the built-in converter of Google. One of the reasons is the products sold in the UK frequently have a substantial markup in their price. However, the markup is undeniably evident. On a positive note, the gray market eliminates the markup for the UK and other consumers to purchase goods at overseas prices. Another important note to be aware of is the inevitable price change that happens on a daily basis. Frustration is just around the corner where you might end up wondering if it is the best price offered. What you can do is to decide if it is the price that you are willing to pay. If it is, just buy the thing. Otherwise, leave it and find somewhere else. On a brighter note, AuthenticWatches guarantee the lowest prices available online. However, if you find any watch on another website that is lower than their price, you can give them a call as they give proper price matching. All price match inquiries should be done before placing an order. Gray market sites such as the Jomashop and Prestigetime do an incredible packaging of their products. Some of the gray market sites offer insurance if your package is lost or the like.