What are some tips to keep in mind before making a purchase?
Assume you’ve already decided on a particular brand and model and are ready to purchase. When you’re ready to buy that lovely timepiece, keep the following few suggestions in mind.
1: Be well aware of the market price
When looking to buy a luxury watch on a budget, it is necessary to understand how the market is functioning. Give yourself a budget to work with, and allow room for bargaining if you face the need. What’s more, research different platforms where you can purchase a luxury watch. You can get excellent deals on luxury watches in the grey market and multiple online platforms. So do your homework before deciding on a purchase.
2: Inquire about the after-sales services
A watch, like a car, requires regular maintenance. Unfortunately, a watch, like an automobile, can also break. This is because human hands (partially) make and assemble mechanical timepieces. Thus something could have gone wrong during the process. As a result, you will need to have the watch serviced or repaired. Inquire with the watch dealer about if he has a service center or if the watch will need to be returned to the manufacturer.
Also, inquire about the length of time an overhaul or repair will take. It’s also good to look for service times on several watch forums. Nothing is more frustrating than sending your watch in for repair and being without it for several months. Finally, inquire about the cost of servicing overhauls. Some watchmakers are very open about the costs of servicing overhauls and post them on their websites. Make sure you learn more about these fees.
In a traditional brick-and-mortar store, authorized dealers carefully adhere to the official price tags on their watches. However, there should always be an opportunity for price negotiation. Before you go into the store and start negotiating, make sure you know the average price of a watch. If the discount offered does not suit your needs, look for another option. For example, you might even try to bargain for an extra strap or a watch winder.
4: Build a relationship with your dealer
So, you went out and got a new watch from an excellent shop that gave you a discount and assured you that his in-house service department would take care of any future service or repairs. From now on, keep this retailer in mind. He (or she) will treat you the same way. Inquire if they have any watch activities and if you can be included on their mailing list.
The fact is, this isn’t going to be your final timepiece. On the contrary, purchasing a mechanical watch might be the beginning of a dangerous obsession. Therefore, from now on, having a good relationship with a watch shop and craftsman is critical. Not only will you be able to negotiate future costs, but you will also receive updates on new collections, new brands, and possibly even the opportunity to visit the producer of your new watch.
Authorized dealers go above and above to gratify their consumers and demonstrate that they provide added value instead of non-authorized dealers that offer more significant discounts but minimal service.
5: Keep in mind the additional costs
If you purchase a watch with a leather strap, you will almost certainly need to replace it sooner than the recommended servicing intervals. Make sure you inquire about the cost of an OEM watch strap replacement. A leather strap can cost anywhere from a few (tens of) dollars to hundreds of dollars, depending on the materials used.
Also, keep in mind that timepieces tend to get more expensive with each passing year. Prices for accessories such as straps and clasps also fluctuate. In any case, you can obtain pretty good straps from third parties, so this shouldn’t be a deal-breaker.
The good thing is, like cars, the market value and price range of luxury watches are enormous. So if you do good research and check out enough retail stores, you should be able to find your perfect match at highly economical prices.