What’s Up (or Down) with Discounts?
To make a long story shorter, I was an avid Watch collector from about 2000-2010 and then dropped from the scene until recently (long story).
At any rate, back in the day I was able to get nice discounts from ADs on Rolex, VC, AP, and Lange, but not Panerai. Really. The situation is completely reversed today. Plus I am having difficulty getting discount quotes on brands like Omega, Breitling, IWC, JLC, and Zenith where 20-30% discounts used to be easily available.
Is my recent experience representative? What am I missing?
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Mitch
Semi-retired innovation consultant with a 25 year background in watch collecting. Compared to my experiences living in NYC and the SFBay Area, St Louis is a watch wasteland, so I am enjoying indulging...
Member since
Last active: 6 hrs ago
7.63” / 19.38 cm
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Yup. You bought at the right time. The pandemic happened, people had more money and nowhere to go, speculated on watches (and other luxury goods), manufacturers and ADs saw this surge in demand and perceived desirability of their products so started acting all haughty and amped up upped the attitude and prices (oh yes, there’s post pandemic inflation as well). Many have started acting like the Soup Nazi in Seinfeld. The secondary market is cooling now, but prices are still high. So far, you still can’t get a discount from ADs on Rolex and the big three, but you can get for some brands. It’ll go tits up. The global economy is stuttering and so is China (they made up a large proportion of luxury purchases). Not all doom and gloom, but I foresee at least a stalling of price increases by manufacturers in the near future.
Yup. You bought at the right time. The pandemic happened, people had more money and nowhere to go, speculated on watches (and other luxury goods), manufacturers and ADs saw this surge in demand and perceived desirability of their products so started acting all haughty and amped up upped the attitude and prices (oh yes, there’s post pandemic inflation as well). Many have started acting like the Soup Nazi in Seinfeld. The secondary market is cooling now, but prices are still high. So far, you still can’t get a discount from ADs on Rolex and the big three, but you can get for some brands. It’ll go tits up. The global economy is stuttering and so is China (they made up a large proportion of luxury purchases). Not all doom and gloom, but I foresee at least a stalling of price increases by manufacturers in the near future.
I believe it all depends on the AD and whether or not your buying those other brands from a Boutique or AD. I’ve been told by Omega and Breitling Boutiques that they cannot discount. My Rolex AD has said that they are banned from selling over MSRP but they can discount. And I almost always get a discount. (Only once I didn’t and it was another SA checking me out and he said he couldn’t on “allocated timepiece’s”. (It was my BB54) Maybe it’s just my AD and SA because I’m always asking for a discount or if I can use an in-store coupon that I can apply. I even got a discount when I bought my YM40 on Oysterflex last year.
I believe it all depends on the AD and whether or not your buying those other brands from a Boutique or AD. I’ve been told by Omega and Breitling Boutiques that they cannot discount. My Rolex AD has said that they are banned from selling over MSRP but they can discount. And I almost always get a discount. (Only once I didn’t and it was another SA checking me out and he said he couldn’t on “allocated timepiece’s”. (It was my BB54) Maybe it’s just my AD and SA because I’m always asking for a discount or if I can use an in-store coupon that I can apply. I even got a discount when I bought my YM40 on Oysterflex last year.
Boutiques don’t give discounts, you can probably score some merch from them and maybe a free service. Where I’m at ADs don’t give discounts on Rolex.
ADs and Boutiques have tightened up. "Luxury"is the name of the game for those you mentioned, at least that is what they are angling toward. How can you be considered luxury if every watch is sold with a discount? Sounds like a "discount" product to me. The right AD and SA will still knock a few bucks off as I've found.
If you want a hefty discount, and you're in the U.S., I can introduce you to my watch broker. He works with a network of ADs, and will get you new whatever at "market price" - meaning big discount!
I personally have had discounts of 15-20% on new Omegas(UK) and given how prices are dropping on used watches, I think patience will pay dividends.
If you want a hefty discount, and you're in the U.S., I can introduce you to my watch broker. He works with a network of ADs, and will get you new whatever at "market price" - meaning big discount!
Love your handle