Buying Watches Pre Owned or at an Authorized Dealer - Pros and Cons
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- Опубліковано 17 жов 2017
- Buying Watches Pre Owned or at an Authorized Dealer - Pros and Cons
In today's episode of Federico Talks Watches I am once again joined by Eric The Watch Sherpa. We talks about buying new watches at an authorized dealer vs buying watches pre owned. What are the pros and cons? How much can you really save on the watch? Is buying watches at an authorized dealer worth it? What are the risks in buying pre-owned watches? All this and more in tonights episode.
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Thought Fed was gonna strangle Eric at points there 😂
UXXV Absolutely. I had more than once the impression, that Federico wasn‘t comfortable.
Lol ya
UXXV I think it’s cool, the differences spice things up! 😆
UXXV
P
My outlook is pretty simple..If money is no issue, new from AD is best...but when budget is a concern, used is best
I can't stand this Eric guy. He's overpowering the videos and makes them very unenjoyable to watch.
I would add a few things as experienced by my grandfather. He bought a Sub preowned from an individual and it was much more work than buying from an AD. He wanted to verify everything was authentic, that all the components were genuine and square it away with things like adjusting the bracelet, etc. He took it into an AD to have them look it over - don't know if that cost him anything. When buying a preowned watch all that responsibility falls on you.
He told me he spent about 20 hours over the course of a week verifying he got what he thought he got - It did NOT need a service. There is more than just the money. I would call it peace-of-mind for lack of a better term.
Realistically, I'd say preowned dealers are in my future. AD's only if things go very, very well for me.
Fed is learning the lessons of having a plan/guidelines with his co-host before going on the air.
Great episode Fed. I like that you keep bringing Eric back! Stay positive and don’t let the haters drag you guys down! Cheers.
I actually loved how you all didn't agree completely 100%! You both provided very good information from both sides! Great information and great video!
Love the giant display behind you and the spacing. Bravo!
This year was a landmark birthday. I bought my Speedmaster from a AD at the airport tax free here in the UK so a 20% discount. My local Rolex AD was closing as the owner was retiring so got my OP 39mm with a 15% discount.
Both have the usual full warranties etc.
Chris_Audittr2108 fantastic...the airport boutiques really are the way to go
Great advices Federico, good job... keep on being so honest...
Can certainly attest to that - Wempe in London is the best experience ever - super pleasant and knowledgeable staff always happy to spend time with you. Love that place.
That was a wonderful video, you two!I bought my first ever Rolex from a wine-n-dine AD. I LOVED the experience. Just like cars, I almost never would consider “new dealer prices” when I could get a barely used for so much less. BUT, I earned my money and wanted to spend it on NEW to get the experience. Totally worth it :). Very, very, very important to know who you are buying used (even new) from! Thanks again for the great vid!!
I think a change in tone is needed in Eric's part. As a buyer, I trust someone like Federico because he's laid back and I can have a conversation with him, but if someone is working hard to make their point it puts me on the defensive. Eric has good knowledge but the approach is too forceful fir me as a buyer!
Love the idea of how to buy Rolex and different brands videos. Great stuff guys keep it up.
Good show Fed. I wish you would demonstrate an example . Seller comes in with watch A. It is bought for 50 % off retail . Fed sells it for 30 % off retail. Fed makes the 20% delta. This might help. Thanks
I like having Eric in the vids. He's made some valid points. Are we ever going to see you make another video with the Urban Gentry?
But preowned rolex right now is more expensive than new one Fed.
I just bought my first nice watch and I chose to go used. The seller was happy to provide me with plenty of photos and I believed him when he said that he hadn’t worn it more than a handful of times. I was able to get a watch which retails for $1,090 and it only cost me $700. The case is in flawless condition and the strap shows very little signs of use at all.
I definitely understand why some people are hesitant about buying used watches (or used items in general) but if you know what to look for and the seller seems honest and trustworthy, you can end up getting a really solid deal.
Good stuff, guys!👍
This is a perspective from a watch flipper , buy a watch you love and don't be constantly paranoid about the price . If you are don't buy the watch
Federico, I am totally all about grabbing the deals on the pre owned market, but as someone who is really into watches, I have always thought that you should at least once throw your favorite watch brand a bone and buy new just to show appreciation for the brand etc.
Good conversation with a couple of good points raised (for the layman).
Eric wonderful comparison of leasing vehicles compared to selling a watch many years down the road for less. I look at watch selling and trading like that and it makes loosing a little money here and there more bearable.
Super show and Eric is a Cool dude with lost good info of the watchworld. Greetings from a sunny Amsterdam
great vid!!!
Wow! This episode is soo cool and right.
Would you recommend buying a luxury watch from touch of modern?
I serviced my Omega twice, Rolex once, GS zero time, all within warranty. Is it just coincidence? Maybe, but my favorite is GS.
It seems GS is retaining its value quite well, so that's a step in a right direction...
Federico is great, love his videos!
Great Topic....x
I bought three times through an AD. One watch had a problem, the crown fell off the day after the purchase, covered by warranty.
Great video
I went to Wempe in NYC to look at Reversos. Customer service was great but the current Reverso lineup is pretty poor. I went to a preowned dealer in New York to look at earlier Reverso styles. The preowned watches were far more attractive and interesting. I found the reverso I loved preowned.
Worked sales so when customers ask why buy new vs preowned, I flip the ? back to them. Is this a permanent purchase or will you upgrade? After purchase and you change your mind, an item with warranty has more value than same item without warranty. If money is an issue and you're unsure, go preowned.
Eric is awesome , Waiting for the channel.
Great content. Thanks
Thanks
Eric seems like a good guy, he just can’t help himself and his run-on-sentences are out of control; I feel like the idea was good but the execution was all over the place. Have some guidelines agreed upon beforehand about tangents, what’s in scope/out of scope etc and I think these Watch Sherpa collaboration videos will improve.
Anyway I like the background and logo of Delray
I think this pairing works now. Looking forward to more from Fed with Eric.
Great video guys , i often wonder would the haters be so brave if they were face to face , keep up with the great content.
For the same reason I buy brand new cars. Less hassle for me having to deal with aging vehicle maintenance, it may be a bit extra, but to me it’s like Insurance. I nearly always use my warrantees.
Love the video, love the conversation with Eric, not really loving the logo.
Hi guys, please do a follow up video on "how to buy a watch dealer" - it was repeated a lot and I believe it, but where do we go to get recommendations on the character and business practices of a dealer? If we presume everyone is shady, then they can't be a source for themselves and it's in their interest to talk themselves up; there are only so many reviews, and they're not well placed inside the community. In addition, reputation obviously pays off to established dealers but sometimes being established in your position changes the way that you interact with the market - so sometimes a previously good dealer goes bad, or a new and upcoming dealer is a good place to go for a better price. How would you recommend that we vet those dealers?
I think this is all especially important for the new watch consumers that you reach out to a lot. Thanks and keep up the good work
And Fed, you should also do an episode on the questions that you think customers don't know to ask when buying pre-owned please and thanks. You mention them around 13:50 in this video
contactboxian this is a good idea for sure and already in the works!
Planning to buy my first (and hopefully only) luxury watch from an AD for my 30th birthday. The idea being this is my first and only luxury watch that I will ideally wear for the rest of my life. If however, I ever wanted to buy a second or third luxury watch, I would definitely go pre-owned, or even if I KNEW that I would buy multiple luxury watches, I would just go straight to saving as much as possible. Hopefully I will stop at one! :P
I think there are two good choices: brand-owned 'store'/experience or pre-owned from a private seller. And nothing in between. As simple as that.
My personal opinion is if it is your grail or very expensive watch, aim for a AD with a discount.
I wish, the conversation would have been more calmer and not so loud, to say the least.
My take was, that Eric was not capable of accepting, that everyone has his/her opinion and prefers buying from an AD OR buying used/from a NON-AD OR let the situation decide the moving order.
But otherwise, I enjoy your videos very much. Keep up the good work.
Very good!
Thanks man
This is hilarious - call it a learning experience. Apparently this guy was the only one that didn't know the points you were trying to make.
Wempe in Germany offered 5% discount max. Went to Bucherer instead and frankly got both better discount and overall experience.
In Spain I purchase from Rabat. Best discounts around overall that make the AD experience worth it without breaking the bank.
Helpful feedback. Do you know any good AD s in London, Istambul or Stokholm?
If I want a specific time piece that I intend to own for a long period then I go AD. It gives all the piece of mind and you know the entire history of the watch since it starts with you. If you are more of a collector that trades stuff out then pre-owned makes sense. There is no point in taking the giant depreciation hit after buying new.
You both are are actually right. Eric said it. Try to be smart (and considerate).
Whatever the deal and circumstances.
Bought 30 years ago a Cartier Tank Quartz from an AD in Stuttgart, Germany, the watch stopped after 15 days, I brought it back and got my money back straight away. That's the way it should be.
Always fun shooting the shit with FTW! #thewatchsherpa #itstoobright #besavy
Federico, is there a dealer similar to Wempe in Florida?
Not really to be honest... Not in my experience... Maybe the boutiques in the Design District in Miami...
The average hopefully good mechanical watch shouldn't need a USD 500 service within its first 10 years of existence. Unless you got it for USD 100. Finally all dependent on your calculation and intention.
Honestly, this video was a mixed bag.
First of all, you can‘t really compare buying used or new.
The point in buying used or new/unworn watches is to safe money or to find a timepiece, that is discontinued.
It depends, what watch you are looking for. For example: Yesterday, I have finally bought my second timepiece, which wasn‘t available on the grey market or used (over 90 percent of that particular watch are sold with a leather strap, mine has a bracelet). I agree with Federico, that when you buy at an AD, you get greeted, seated, offered something to drink or biscuits (or both), you can try on different watches.
In my personal experience, a personal relationship is never to be underestimated. A sales representive, who knows that you actually want to buy a watch, still has to sale, but he/she will know what you are looking for and what suits yor needs/fits your style. A good „sales conversation“ will make the customer happy and the shop gains a customer.
You get a warranty from the manufacturer (for example 5 years for a Rolex) If you have any question, you can go to the dealer and ask for help on a personal basis.
The models, that I have checked out (Reverso with a Bracelet which make up a small part of the overall market), often didn‘t have the invoice and I still had to pay 4100 € (I live in Germany) for a Reverso Grand Taille from 2007. The bracelet naturally sometimes had more or less sign of usage (the leather strap version is a better point of reference, as you can just buy a new strap).
The customer reviews of many online shops increased my doubts about buying from a NON AD. Often the customer recommended buying again at the shop, but if I looked closer, they were many instances, where the buyer was not satisfied with the purchase at all (the watches were older than stated or not properly working/not working).
I don‘t want to say, buying used/from the grey market is a bad idea. It is just, that there are many things to consider.
Personally, I don‘t mind saving for a/few timepiece(s), and that goes pretty much for other items, too and pay extra to buy from an AD.
I bought a Titoni Cosmo King about a month ago that had been "serviced" and "kept good time" from a guy on Ebay who only dealt with watches and had an impeccable history.
I received the watch and it was running 2 mins slow a day. When I messaged him he stated it was perfectly acceptable for a vintage watch to run within those parameters.
Even when the seller checks out you can still be burnt. Lucky for me because it was through Ebay and I payed through paypal I had that weight to throw around and he accepted to refund me the money back if I sent the watch.
Anywho he has listed the same watch with the same description on ebay now as we speak.
JkandI Ebay really does have a lot of scumbags selling there
sure do man! But his transaction records were 100% spot on and he had sold thousands of watches and had 0 negative feedback.
Maybe people don't check their watches or just give feedback straight away. I generally wait a week or two, see how the watch runs then I'll leave feedback.
2mins a day is not acceptable at all!
I was heartbroken as I really did like the watch and it had this awesome cracking/aging effect on the dial
Great Banter today. Not liking AD and paying their price. Need to find that trustworthy pre-owned dealer. So what makes you and Delray trustworthy brother? 😁😁
Great episode! I 100% see the benefit of both! Depending on the watch I will buy retail, but some I will buy after market...
Very interesting as I work retail and also sell on The side...
How long does it take to service à watch?
Mike Charette depends on the watch
When a seller doesn't know the market price for Rolex Submariner, he probably doesn't sell Rolex or many watches. And in five pieces bought at the AD, I have never used the warranty, the biggest problem I ever had was a sapphire crystal scratch, paid to have it replaced with an authentic replacement part, and moved on. (wanted to add, I have purchased a Rolex Sub with box and papers at a reliable reseller with brick and mortar, paid about what I would for new, but as everyone knows, you can't walk into most AD's and just get one, there's a list. I paid a fair price, near actual cost, but I also got a 3-year warranty, no glass of champagne, and walked out with a verified Rolex that day that appeared to have never been worn. Gently pre-owned. Now it's not. It's an everyday watch, my other watches are gentle pre-owned.
Federico how do i contact you about buying a pre-owned sub ceramic?
+Michael Elliot fed@delraywatch.com
+Michael Elliot fed@ delraywatch
I would like to pose an amendment to the Explorer-Hillary connection, as Smiths was also on the wrist of Hillary on that famous expedition, which is a UK brand. The Explorer wasn't actually the watch that was worn up the summit, but was made after the expedition, likely due to Hillary's feedback from the watch that Rolex made for him to wear then send back for testing.
Just had a Rolex AD tell me not to buy pre owned because Rolex will not service it unless it was purchased from an AD. Is this true?
No. Not true.
I found a watch that I really like that is $100 cheaper in Japan than from an AD. I'm guessing that the AD's price includes tariffs and a pre purchased warranty seeing they offer a warranty that's double the manufacturer. Would I be wrong in these assumptions? Another question I have is as followed: What are your thoughts on buying a new watch on e-bay from Japan?
Take in to account customs and how hard and expensive it will be to return it if it shows up with an issue.
Thank you for your advice.
What do you think of Raymond Weil?
There Freelancer s are beautiful and been thinking about the blue dial variant
Fed, why can’t you share with us their discounting policies or practices?? I’m sure any non disclosure you signed has long expired. I’m probably missing something.
Nope, it wouldn't be proper of me... Somethings I don't say out of respect.
Very interesting topic and advice gents. I’d be very cautious buying from a used dealer unless I’d been assured of his credentials and after sales service. I’d trust you both though 🤔🤣. No, seriously. 👍🏻
do JLC next !!
I buy only AD unless it's a discontinued piece. The AD's I have used offer great service, not champagne but I have ate some exotic chocolate at omega once. Return customers do get discounts btw. A preowned dealer I have yet to deal with, once I get the income delray might get my business 😎
What about a third possibility - what about buying new from a discount "reimportation" dealers, like Long Island Watch (although they are authorized for some brands) or Jomashop?
Mostly just grey market dealers... Im not a huge fan of Joma...
Why not? Thanks!.
Joma Is a great site if buying online wish I don't do anyway, friend got a new speedy there nice quick service and not a bad price
Federico Talks Watches "grey market" -- That's what I meant by the "reimportation" euphemism. ;)
mountainhobo the kind of watches longislandwatch sells are not going to hurt your wallet...so it's no big deal, grey market or not...
I just bought a new Explorer 1 from an AD- while I don’t expect this to be my last “expensive watch” I did want the experience of purchasing a watch brand new.
I can't blame you. Many people do not care about the experience, but I am not one of them.
brian mak Same here. I have bought a JLC Reverso Medium Thin Manual Winding Steel at an AD and I will never forget that experience.
my brand new tag formula1 cal16 broke after i accidentally dropped it (at the airport after security check, if you have name like me you've got to take off everything at the airport ha ha) the hand inside the watch came out, took it to the AD where i bought it from. 50 dollars to check it and 600 dollars to fix it, i know drop does not cover warranty but 2500 dollar watch brakes after a simple drop and 650 to fix? then i am better off buying from ebay and not the AD.
Buy one new Rolex to pass down to your kid, the rest, buy used
Eric is THE seller...!!!
Always enjoy your channel.greetings from Sheffield England..great work Fed.Adrian.
buy the seller, prefer the seller who also has watchmaker as its staff so when anything wrong happened, they will be able to fix it. Even servicing rolex in my trusted preowned seller cost only about USD 250, half the cost for servicing in AD and i tested watch that my seller regulated, it is -1 - 0 second per day. Their watchmaker could even service tourbillon movement :)
grey market is the way to go, new watch with 20+% off
yes but, no pre owned Rolex will be sold at MSRP. Not all brands are equal. However, getting a new Rolex from an AD is imposdible unless youre a VIP.
I’m sorry guys but on the case of the Rolex Submariner AD is the way to go, nowadays a used ceramic is more expansive than the brand new!!! Crazy !!!
I literally thought Eric was a still shot in the screen for the first 5 seconds of the video.
Great episode guys. You work well together!
Didn't Eric work for watchuwant? Is he working at Delray now?
Hi John, Eric did work for watchuwant, that is where we met! He acts like a consultant for us over at delray as he is a wealth of knowledge.
How about a Rolex sports watch? Nobody will sell one for cost if it's a new for example.
Eric where do you work now? Always love when you're on the show!
Yea , with The authorized dealer you get the warranty. 10 years for a Rolex now.
Eric, You are awesome man!! Hurry up with your channel already 👍😉
Best Regards,
WCS
I like what Eric has to say. Maybe you can have Eric focused episodes, so you're not tripping over eachother.
why you guys fighting each other?
Phirst, keep up the great content Fed👍
Thanks bud! I will do my best!
Eric is all over the place Fed done very well bring him back if you do video with somebody stick to the topic don’t get off on tangents I know nobody is perfect but at least try good video this stuff is nice to know..
I like the watercolour and ink style art.
felt like i was getting yelled at.i didn't like him talking over you all the time. hopefully he's not so passionate in future videos.
Chris D I'm working on it! I'm just a passionate guy and want to get good info to our viewers.
You must not spend too much time in NY/NJ lol. That's just how we talk. Good people, but straight talk.
Well if you want any certain model that's not the latest current production then obviously you have to buy used. By the way, leasing is the most expensive way to operate a vehicle. You lost me when you said you're happy to leave a car. Leasing is just a way to drive a nicer car than you can afford (meaning that you're able to pay in full up front).
Not my problem, get out! Hahaha classic
True story!
The AD experience is not worth thousands of dollars....
So, is the Sherpa on Delray’s Staff? Is he a partner?
Hey Patrick, Eric works with us as a consultant. His expertise comes in handy a lot!
Federico Talks Watches Good deal. Thanks for your reply.
why would i be bothered in saving a few pounds. just buy new. just my opinion. to buy anything second hand its got to be a bargain
Hi Fed,
This could have been a helpful video. You’ve discussed the topic before in another video and pointed out the pros and cons. Now you tried to do it again but your sidekick ruined your attempt. I don’t know if you want to play good cop/bad cop but it didn’t work for me.
This video could have done in under three minutes: AD = Whole buying experience but more expensive. Pre-owned = Save money. I wish you would have done it with another, more polite guest and used the time to go into the details. But this 17 minutes video with at least three commercial breaks doesn’t do it for me - sorry.
Best regards,
Claus
Another fun video. Would you consider a grey market dealer the middle ground? New and discounted compared to an AD but without factory warranty.
I will have to look but I can’t remember if you have done a video of you experiences and feelings on grey market.
Im not a huge grey market fan... Their "new" watches are usually refurbished used...
Federico Talks Watches thanks for the heads up. I did not know that.
That other dude is to defensive!