Watch prices in jewelry stores vs online?
Q.How do watch prices for relatively expensive brands (i.e. Rolex, Omega, etc) compare in jewelry stores vs online? In other words, what is the typical premium (percentage-wise) to buy it in a jewelry store?
A.Typical discounts online (NOT for Rolex, it's hard to find good discounts on them) are about 35%-40% if you know where to shop. Typical discounts in a brick and mortar stores are usually not that good. Keep in mind that if you buy overseas, you will have to pay shipping, maybe wire fees, and customs may want their share too. However, if you buy local you'll have to pay sales tax, which is generally higher than all of these combined for expensive watches. Especially if you don't get a good discount. I've never bought a watch at retail prices, I got about a 35% or higher discount on all the watches I've bought. Including shipping and everything it was still significantly cheaper than the discounts I was offered in the stores. One example for the last watch I bought: Retail price $5950. Bought it for $3050 including insured shipping. Paid $50 for an international wire transfer (@#$@# bank), and $140 in customs. Total price $3240. If I wanted to buy that watch locally, I would have to drive to the closest dealers which are one tank of gas away, so that's about $35 in gas both ways. They are known for not giving discounts, so let's assume no discounts. Then add sales tax of 8.25%, and it looks like I saved about 50%. I also got a fresh watch, not a display model, still shrink wrapped. Also got a valid, stamped international warranty. So basically, the premium can be HUGE. And what do you get for the extra money? Poor service and sales people that don't know anything about the watches they sell.
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