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How To Negotiate The Best Deal On A Watch - Authorized Dealers
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- Опубліковано 14 сер 2024
- How To Negotiate The Best Deal On A Watch- Authorized Dealers
In todays video of Federico Talks Watches I talk about buying watches from authorized dealers and how to handle the negotiation process. How can you get the best deal? What are the margins on watches? Are all authorized dealers willing to discount? What do you have to do to get the deal you want? All that and more in todays episode.
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"Be ready to buy" is the way any stand up guy should approach a negotiation. Anyone offended by that needs to grow up...Great video btw man, appreciate the insight
These negotiating tips are universal for just about any big ticket item like cars, jewelry, even houses. I would add that if you don't know the margin on something, it is best to not "be a pig". That is a personal preference, but on any "new in box" item, lowballing is usually a waste and may very well offend the seller to the point where they do not even want to deal with you.
@@uptheorg Oh no this guy is petty. This is bunk because he Knows that you take his offer and call the guy down the street asking for a match / beat. I do it with cars, its fast its quick and it works. Never once has a deal "gone off the table" as the only rule is make the sale, get the money. Principals, my ass.
I have never bought something on the spot at this price point. Frankly it ticks me off that he is spreading this high pressure mentality. As I have my car in my driveway, it shows antidotally to work. In addition, you do the last minute cold feet to get a minor concession on top of it. Always be willing to walk away.
I was negotiating a deal on a used piece with a trade. The dealer offered my piece plus $2200. I said deal, he pulled the offer and said he’d do it for $2600. I couldn’t runaway fast enough.
Agreed. I walked into an Omega AD at an International airport and told them upfront that I was checking the price on a Speedie. They asked me what was the best price I had been quoted, so I told them the price and the source. I asked them if they could better it, and they asked me if I would buy it if they did. I said yes, they did better it and threw in a nice Omega pen for good measure.
You are 100% right in saying 'be ready to buy'
Couldn't agree more. I worked in retail for many years and customers could make or break your day. So when a customer treated me well, I always wanted to go the extra mile for them.
Point one is key. There is a fairly large Mom and Pop AD close to where I live. My wife were up looking at a few things. I was looking at Rolex and she was looking at jewelry. I have purchased before there and have a good re pore with the manager. My wife unbeknownst to me, had found a piece of jewelry that she liked and started the negotiation. She had no idea of how this worked. Long story short, after they quoted a price, a fairly nice discount, learning this after I walked over, I felt obligated to buy. Didn't want to send the wrong message to the AD. Hopefully when I go up for another watch, they will feel kindly disposed to a negotiation.
Good stuff! I took some similar advice you had on an older video of yours and it worked for purchasing my Tudor Pelagos last Thanksgiving weekend. I tried it on and explained that I had researched the prices very thoroughly online and that I was ready to buy immediately. I gave her the price that I was willing to pay and she went and checked with the manager. Came back a few minutes later and agreed to the deal.
I bought an Omega Ladymatic for my wife for her big birthday and there was the exact model in the window for £1000 off rrp in the sale. They let me pay a deposit then pay off the rest at 0%, great deal. Took me over 4 years to pay and I lost track of how much I had paid. The dealer did not call me as he did not want my wife to find out and ruin the surprise. I called in one weekend and he was overjoyed to see me, turned out I overpayed by around £600. I had my eye on a brand new Oris Aquis which he had to order in and he offered me £150 off. Perhaps I should have asked for more but been honest he had been so straight with me it would of been cheeky. A few days later he called me said the accounts dept. had got it wrong and sent me another £100 back!!
Good life advice, applicable to all human interaction.
I was able to buy a Rolex Submariner 114060 last June 2018 for a 10% discount, I had been in several times looking at it. This was at a AD in city of about 100,000 people, I was overjoyed to be able to purchase it and love the watch. Enjoy your channel
If only it was still 2018! My local AD for Rolex had Hulk, Batman, GMT-II, James Cameron, Submariner date and no date, Explorers I and II, Datejusts with jubilee or oyster bracelets-basically everything. They aren't even an AD anymore, so times changed quickly. As they were selling off their Rolex stock I bought an Explorer 1 mkII for $5,200....
@@ericohlsson6506 if they were readily available again no one would want them. It's a good trick by Rolex.
Good video. Mostly common sense (which I am amazed that so many people do not have), but the margins is excellent information to have.
Good advice I am just missing one last thing, ask for something else, in my case recently I was negotiating for a Patek and after getting some discount that it seemed that can’t go down I asked for an extra strap and it went through, not huge amount of money but Patek straps are not inexpensive and in the future I will need it...
Great video👍 I sold timepieces for 5 years and 💯 agree with you
Fed... I got a discount on every new watch I've bought from ADs, applying every technique you've described. There's no getting away from the guidelines. 3 Rolex and 2 Omegas, all by being 1-nice and 2-not greedy and 3-building a relationship.
Providing real value here. Thank you.
One of your best vids ever Fed, a lot of great advice and the best of them all - just be courteous!
Thanks for the information Frederico,i I agree if the Authorized dealer profit is 30% we can only ask for 5% to 10% discount on a popular watch considering the business has to pay employees, rent, utilities and insurance.
Fun to hear how a deal can be done!! Except, I can’t even get an offer from my AD on the Rolex I want for retail!! The reason: I haven’t bought a Rolex from him before! .... Catch 22!!🙈 I would buy it without an discount in a heart beat!!😉😉😉 Thank you for a great video!!🙏🏻🙏🏻
I bought a Tudor BB Steel from an AD about a year ago and even though they didn't have that particular model in stock at the time and I had to wait *three months* for it to arrive they still gave me about 22% discount off Tudor's MSRP.
Where at?
You're an upmarket act, buddy. You're bound to keep on being a success story in the watch-bis. Thanks for your invaluable advice.
Going to get a coffee and THEN watch the video. Loving the content lately!
Thanks so much!
Great video, as always business is business, everyone should treat sales reps with respect, and always do your homework before you enter any establishment for anything 👍
Outstanding video. It’s good to hear some negotiating tips. Most of us newbies can use all the help we can get. Thanks.
100% Agree with the statement.
If you want to deal, be ready to take it then.
So many people think they are the king at making deals.
No.
Know what it costs, know what you are willing to pay, know when its a good deal.
Ask lower than you want to pay, if they are close and you like it, take it, buy it, enjoy it.
Saying you will think about it means, you were not serious or will try to play one place over the another. Sale people know this.
Great advice Fed, thanks for sharing industry insight. Many people focus on price only (transaction, short-term), which is their "deal" outcome, though what they should (IMHO) instead focus on is value (relationship, long-term). If more time and energy are invested to the latter, the better deal outcomes will follow. Cheers ⌚👍
SPOT ON!!!
The other thing to consider is relationship. Walk in buy something cheaper off the floor and don't ask for a discount. Get the salesperson's card or email. See how they treat you in the cheap interaction. If they treat you great, when you go back to buy that pricey item, use the same guy and ask for a discount. Forming a relationship with a seller is the way to go.
Hi Federico, great video. I am looking to buy a JLC Reverso duoface soon and your advice and insight is so helpful, many thanks.
Hi @G7, also looking for the same watch, May I ask how was your experience? Did you get it already?
Thanks a lot, Federico, this is very useful information. I am considering buying an Oris later this year, and would like to buy it from a jeweler here in Denver because I’ve been in and talked to him a couple of times, and he’s always been very generous with his time and kind to me. I plan on using a tactic I learned years ago for buying cars. I go into the dealership at least twice before I’m ready to buy, and establish a relationship with a specific sales person. I’ve also been honest with the salesman, and told him I was just looking for now. So when I have the money, I will go down and apply at the techniques that you described and see what happens.
Chrono24 deal on inexpensive Gaf Zeppelin - I asked for a discount of around 10%, Parisan dealer countered with 15% , surprising me. I was ready to buy at my offer!
I feel good now. I went to my closest AD to buy an Oris, but the wow-factor of an H. Moser meant that I was torn-apart. I eventually chose the Moser Pioneer Green Fume and got myself a cool 35% off and a free strap- a win-win for both parties, I suppose- although I bought it a month later. I love the watch, and it is my first-ever watch purchase- one that marks a significant milestone in my life.
On a side note: I enjoy the talks. Keep up the good work Mr. Federico.
Good content in this video fed! Keep up the good work.
While it can be tough to get a discount on a stainless Rolex, if you go to an independent authorized dealer who won't discount ask for merchandise. I've picked up estate cufflinks, fountain pens, etc... as an add on.
I'm in the market for a watch and glad I watched this video. Thank you for the great advice.
Great advice !
Great advice Federico. Treat people the way you would want to be treated.
Good info. Next please discuss the used watch process. A long loyal fan.
Great tips! I'm going to remember those when I go seeking my VC Overseas grail!!
Thanks Fed, does this also apply to lower price watches? For example a Tissot or a Hamilton? I mean, the margins and the discount numbers you gave can be expected also when negotiating on a 500$ watch?
Typically I wouldn't do it with watches that are that "cheap" I mean 500 is easily saved up within 1 month so I wouldn't do it unless you want that store to dislike you.
Excellent advice. I'd add that you need to gauge how you are being treated too. I've gone into ADs not looking my best because a friend I was with knew I was a "watch guy" and been treated like sh*t.....until they (or their colleague) looked at my wrist. At that point I leave or cue my friend to leave as fast as possible. So, moral of the story is treating people right goes both ways.
How about showing your knowlwdge about international prices and grey market prices?
Excellent video!
i love the video. I prolly never gonna buy anything over $500, but its great to know what to do, if i need to help friend or God forbids, win a lottery.
Love thee vids. Great conversational style.
Give me the watch you're wearing in the video for $500 shipped. That's my final offer.
Apple Dash deal
Along With easy monthly payments of 💰👌🏽😅💰
You're spot on about the location issue. Just over a year ago, I went to the Longines dealer in Aventura and the woman absolutely refused to engage with me. I then went to a Tourneau and got a great offer on the Steel and Gold version of the same watch. That was after spending about 20 minutes talking to the Manager about my Breitling SOH II which was released a few months before. How you interact with people is key for sure.
Fantastic video. I've always followed these tips and the amount of people that don't and get disappointed is surprising. Hopefully with respected people like you putting them forward more might listen. Keep up the good work with the great content.
Excellent video. Does your advice include negotiating at an AD that is specific to one brand? I was in a JLC boutique recently and assumed the prices were fixed. When I am ready to buy, should I try negotiating with them?
Very good advice Federico. I learned a lot from your comments and insights as to how the Authorize Dealer might react to a particular officer. I too, am a believer in being courteous and respectful. It certainly is no guarantee you will get what you want, but it keeps you in the ball game. Nice job on the video. Keep up the good work!
The customer is usually wrong. The concept of “the customer is always right” is more of a philosophy of how to treat your customers.
So True! :)
Great info - I'm sure lots of folks can benefit from hearing this.
Totally agree with your statement of being ready to buy if you attempt to draw the sales person into a negotiation. I think that applies to most any situation. It is poor form to back away after bargaining to an agreed price and comes across as bourgeois and crass.
Great video and advice.
Just the kind of information I needed. Little disappointed they don't usually discount Subs....still loved the vid.
Why is the Rolex wall clock not moving ? Change batteries ?
What about boutiques Fed? Maybe an A. Lange boutique
Depends on the boutique but most of them try to not give any discounts. From what I know there's a chance you might be able to get a slight discount from a Lange boutique, in the 5-10% range.
You would not normally get a discount on a normal model but can get goodies or a service thrown in, some boutiques like Omega, sell other goods like sunglasses too so I'd get a pair of them 😁
Excellent presentation Federico. Thank you 💕🕵🏼♀️🇺🇸
Thank you for helpful advice
Excellent video - I just gave it a thumbs-up and subscribed. Thank you!
Great advice. Thanks for sharing
Great advice. Thank you Federico :)
Good video, I have always been of the mindset that buying in the used market is where I get the discounts(like the fact that you can buy a well loved Datejust for 3 to 5 thousand). When I walk into an authorized dealer or a boutique to buy new I would not even bring up the conversation of a discount, mainly because as a lover the brand I feel like I am throwing them a bone by paying full retail(because you are getting full warrantee, box paper ext). Am I off base in my thinking and should I maybe try to get a little discount?
Watching in 2021. Thank's for this video. 👍
Very good video! Common sense but good to recap! Interesting info on the margins as well. Appreciate the openness.
This was gold! Really good information Fed.
Very good tips Federico! Thank you
Great video man! Very helpful indeed! By the way, How much discount should I expect for a 2-tone Rolex Datejust 126233?
Great video Fede! What about brand boutique stores, would the same apply? Tks!
Excellent! Thanks Federico
💕💕
good advice
thanks, very good advice for shopping in general
Great vid!!!
This was a great video and very practical advice. Do you think the same rules apply when purchasing a pre-owned watch from an AD? Since the watch is pre-owned, it opens up huge pricing differences when compared to there ADs or the grey market.
One of your best videos!!!
Great video, Federico, thanks! When negotiating with an AD, does it make any difference if you'll pay with credit card vs cash?
Analog 360 my experience: for that price point, AD rather take CC and avoid the money laundry reporting hassles
Great video and most people have no clue how to negotiate.
Great advice. I agree. Thanks!
I’m curious on the profit margin. Is that on the new watches? Or on preowned.I’m getting the feeling it’s on new watch. What would be a respectful margin percentage.? Let’s say on a watch over 3000. Preowned.Thanks
love this video. very helpful
Great info thanks Fed!
Next make a guide on how to negotiate with you for watches lol.
hahahahaha... shoot myself in the foot ;)
Very well said
I'm looking to buy my first real watch at a dealer. My budget is around $3500 and I'm willing to get a pre-owned watch. Whatever I decide on has to be authentic. What advice would you give?
Awesome vid fed!
Awesome info......
Great video, thanks!
Thank you.
a spot on video!
Great vid
great video man
What about timing? I have had instances where I got a better deal because it was towards the end of a quota period...
Also with smaller stores you can shop around, some might have different stockpiles or need money more
Simply great
How do you feel about talking about gray market prices? eg "I can get this on the gray market for 4500$ I want to buy from an AD but I can't go higher than X say 5000$"
Great video.
Great video Fed, now one on how to negotiate with You a watch.
Good video on how to negotiate not only watches but many other things! Only thing I have to say from a customer perspective is don't say things as to why you can't discount something with something pretty much no one cares about. This happened to me when buying a new car. I knew it was an end of the year model and I asked if I could 1000-1500 off. Even before the salesmen can say anything the sales director comes out and says do you know how much we pay rent for this place? Newsflash I DONT CARE that is your problem not mine. The salesmen was cool but that guy was a total putz so I told the sales dude you are cool but sorry gonna walk.
can a Cartier Santos be negociated ?
Hey, Federico, would a Rolex Oyster Perpetual 36mm White Grape Dial (or gold) be considered a "slow mover"? Love your videos, very insightful
Good advice
Hey Fed, great video. Do you know anything about Nomos and discounting?
You should get 20% off without much issue depending on the model.
I feel like it is much smarter to buy from a reputable online store, also can save tons...