How to Resist the Siren Call of the Grey Market Site
So, it's a Saturday morning, you've just checked the news, and then select that familiar bookmark of a grey market site. You scroll a little, and there it is:
A slightly different version of a watch you already own, at maybe 50% of the price. This is a great value, right? Well yes, obviously it is, and before you know the watch is in your cart. You may hesitate at checkout, but in a YOLO-moment you order.
After the initial excitement wears off you wonder: Sure, the value is great, but you have three watches already that more or less fit the same role. Let's say you own one or two Seiko 5 divers, and that site carried a diver version with a bright orange dial at that lovely low price.
When would you actually wear that watch? No, not at work. Maybe at home...well, maybe. But it will look great when kayaking, which you do twice a year. Hmm ...
Now you've spent money you could have used towards something else. What is your strategy for resisting such purchases?
The same strategy I use for not buying new cars, clothes, etc., don't go shopping...
Why go to a sales website if you don't need/want to purchase a new watch? It would be like someone struggling to get sober walking into the local watering hole every day to see what they have on tap.
I keep a list of watches that I actually want for well thought-out reasons. From grails that may never be attained, to cheap Casio digitals, to everything in between. If I find a deal on one of these, I'll probably go for it. But when the temptation of an impulse buy unexpectedly appears, I try my best to resist, and consult that list as a solid reminder of the opportunity cost involved. It doesn't always work, but has helped dodge some potential regret.
I keep a list of watches that I actually want for well thought-out reasons. From grails that may never be attained, to cheap Casio digitals, to everything in between. If I find a deal on one of these, I'll probably go for it. But when the temptation of an impulse buy unexpectedly appears, I try my best to resist, and consult that list as a solid reminder of the opportunity cost involved. It doesn't always work, but has helped dodge some potential regret.
Yes, this is what helped me today. There are a few models that I eventually like to get, plus I really am not in a rush for a new watch at this time. A deal is only good if you actually want/need that item, not because the item is offered at a discount.
The same strategy I use for not buying new cars, clothes, etc., don't go shopping...
Why go to a sales website if you don't need/want to purchase a new watch? It would be like someone struggling to get sober walking into the local watering hole every day to see what they have on tap.
That will work. The only issue might be that many collectors frequent these sites, even if it is just to find out what their watches are worth.
I usually find sellotaping my fingers together helps, that way I cannot put a watch on, nor use the internet to make a purchase. Costs a fortune in tape though.
Seriously - if I knew the answer I would have less watches.
The same strategy I use for not buying new cars, clothes, etc., don't go shopping...
Why go to a sales website if you don't need/want to purchase a new watch? It would be like someone struggling to get sober walking into the local watering hole every day to see what they have on tap.
I’m going to agree with this; my problem is that I often see a watch I like (usually vintage) and then in order to judge whether or not I should begin the process of looking for one I’m gauging the grey market price… If it’s obtainable, and for ”cheap”, the seed is planted.
That will work. The only issue might be that many collectors frequent these sites, even if it is just to find out what their watches are worth.
How often does one need to check the value of their watches?
If you're checking every day, it's not really about the value of your watches, it's about shopping. There is nothing wrong with that, but the first step in fixing a behaviour you don't like is acknowledging it.
I personally stay off Amazon, AD sites, gear sites, sites for outdoor/kayaking kit, etc., because I know I have a tendency to impulse buy "cool" stuff that I don't really need. When I do go to the sites, it's done with the intent to buy, not just to see what's available, or on sale.
How often does one need to check the value of their watches?
If you're checking every day, it's not really about the value of your watches, it's about shopping. There is nothing wrong with that, but the first step in fixing a behaviour you don't like is acknowledging it.
I personally stay off Amazon, AD sites, gear sites, sites for outdoor/kayaking kit, etc., because I know I have a tendency to impulse buy "cool" stuff that I don't really need. When I do go to the sites, it's done with the intent to buy, not just to see what's available, or on sale.
I guess how often somebody visits these sites would depend a lot on how he or she collects, what the turnover of the collection is, and with what intent the person collects.
I personally look at those sites maybe once a week, but haven't bought anything for a few months, simply because I had looked at specific builds and specific watches in recent months.
This morning I was definitely tempted, but mentally going over my collection, and how that watch wouldn't really fit, eventually led me to decide against it.
Assess the collection on a quiet day and see what you have and what you might want. If you love black, then black dials might be the dominator. If you want diversity, then maybe a diver, a quirky dial color, subdued dial with clean design for a dressier watch, white dial…..Know what you have and what you might be looking for. Submariner, Milgauss or OP coral, Skydweller or OP navy/black/silver dial, polar Explorer II…. That would be a great 4 or 5 watch collection. Quality over quantity in any brands that you choose to consume.
Assess the collection on a quiet day and see what you have and what you might want. If you love black, then black dials might be the dominator. If you want diversity, then maybe a diver, a quirky dial color, subdued dial with clean design for a dressier watch, white dial…..Know what you have and what you might be looking for. Submariner, Milgauss or OP coral, Skydweller or OP navy/black/silver dial, polar Explorer II…. That would be a great 4 or 5 watch collection. Quality over quantity in any brands that you choose to consume.
Oh, I definitely fall on the diversity side, meaning that i like to have a watch to match the occasion. My collections is small, 15 watches, which span watch buying from 1988 to today. (Some watches were just used beyond repair or simply broke in a way that was not worth repairing.)
I think focusing on more expensive watches would only make the problem worse for me.