There are numerous grey market websites that operate exclusively in luxury watches. This uncertainty is the inherent risk of buying from an unauthorized dealer. It’s not unheard of for a reseller to have bought a used luxury watch and claim it was brand new. You should also be cautious because, while many grey market websites are legitimate businesses that sell exactly what they claim to sell, there are still unscrupulous folks in the arena. Not only is this potentially illegal (for the seller and you), it means that if your watch is stolen, you’ll have no way of getting your watch back or making an accurate insurance claim.
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Secondly, in order to protect the identity of the authorized dealers who unloaded their product to the grey market, resellers will sometimes remove the serial number. The luxury brands all offer warranties on their products, but those are no longer are in effect for secondhand products, even if the watch is technically brand new. The first is that any watch sold by an unauthorized dealer will have its warranty voided. Yet, the watches being sold on the grey market are real, not counterfeits, so why wouldn’t the average buyer shop there? T here are a few reasons why you should consider avoiding the grey market.
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Similarly, authorized dealers would rather sell their product to the consumer at full price than unload their inventory for a massively reduced fee. Watchmakers would, for the most part, prefer you didn’t buy from the grey market.
However, the bottom line is that many authorized dealers are stuck with an expensive product. The reasons for that downturn are multifaceted. Though wristwatches have remained surprisingly popular in the age of mobile phones, luxury watch brands are hurting. The second part is the recent downturn in the luxury watch market. If a large amount of inventory doesn’t sell, the dealers have to find something to do with it. They are often required to buy the products in bulk and are not permitted to sell the unsold product back to the watchmaker. The first part is when authorized dealers make their arrangements. Where do grey market watches come from?Īs mentioned earlier in this article, most grey market watch retailers get their products from authorized dealers. And for the buyers, they can feel 100% secure that they’re getting the real deal. For the dealers, they get to claim a certain level of exclusivity in the products they sell. For the watchmakers, this arrangement makes it easier to undermine counterfeiters. Watchmakers make exclusive arrangements with certain dealers to sell their timepieces. This is where authorized dealers come in. To ensure the value and uniqueness of their creations, watchmakers need to minimize where authentic watches can be attained. There is no end to the number of counterfeiters in the world making cheap yet surprisingly accurate fakes and knock-offs.
What is an authorized dealer?įor luxury watch brands (think Rolex and Tag Heuer, among many others), authenticity is their greatest asset.
To luxury brands, who would prefer to work exclusively with authorized dealers, the grey market represents a complex quandary. For some people – both consumers and watch dealers – the grey market provides a necessary, even welcome service. Thus, which is why they not only don’t fight hard against the perception of being resellers, they openly discuss their business practices. Grey market retailers are not doing anything illegal. Usually, these retailers buy their product in bulk from authorized watch dealers who have been unable to move their inventory and are trying to recoup losses. It’s the term given to retailers (usually online) who purchase the unsold product and resell them at a huge discounted price. A Video Review on Buying Watches From The Grey Market.Is it unethical to buy on the grey market?.Where do grey market watches come from?.
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