Why Should You Buy From a Grey Market Dealer?
Demand for Luxury watches like Rolex and Patek Philippe has increased multi-fold in the last few years. In case you plan to purchase one of them, this article will be of great help
If you are one of those who like to own a high-end watch, you know the struggle is real. There is no easy way to get a hold of the latest watches from an authorized dealer. However, the demand for Luxury watches like Rolex and Patek Philippe has increased multi-fold in the last few years. In case you plan to purchase one of them, this article will be of great help.
Every year, only a small number of watches are produced by Luxury watchmakers. For example, Rolex reportedly makes 1 million watches new watches every year. As a result, the demand for their watches is much higher. Needless to say, it is difficult for a watch lover to purchase one from the nearest store. The wait time can be as high as almost 10 years for some watches.
You may be wondering if the demand is high, why are these watchmakers not increasing their production? The company believes that if they increase the supply, it will come at the expense of quality. That's something we absolutely do not want as consumers. Even the 100-year brand would not like to damage its brand value even a bit.
A consequence of the above problem is that the price of Rolex and Patek has skyrocketed in recent years due to a gap between supply and demand. We will talk about the price more later.
What is the solution to the problem?
If the watchmakers are not going to increase production, how can one get a hand on the watches? There is a solution to every problem in the world, so there is a solution to this as well. The scarcity and the long wait time have led to a secondary market gaining momentum in fulfilling user demand. Buying your dream watch from a grey market is one of the options for you. You will get your favorite Rolex, and Patek Philippe watches from the grey market is not the only reason you should consider exploring this option. There are many other advantages as well.
Most times, you can get watches at better prices than what an authorized dealer is offering (if at all they can give you a watch without a wait time). There are many watches for which companies manufacture a limited number. These are extremely hard to find at a conventional authorized dealer. You can get these in the grey market. In fact, to get the rare collection, the grey market is the best place.
You surely must be wondering how premium watches are available at a discounted price in the grey market. If the authorized dealers carry excess inventory, they move some of their pieces to the grey market at a certain discount. It helps them in two ways:
- They get cash in hand to purchase or make an order for the new releases.
- They can sell inventory that is not going out very fast.
You will understand since the price of a single piece is so high, dealers cannot afford to hold on to them for long. Hence, the watches are sold in the grey market at a discounted price which is passed to end consumers.
So what exactly is a Grey Market?
Brands and official resellers agree on a distribution channel, but grey market products are sold outside that channel. Consumers can buy these products for a fraction of the original prices. It is not endorsed by brands and cannot be controlled.
Grey markets are legal. This needs to be emphasized. We would be talking about black markets if they were illegal. The watches are made in the same factory as the watches you see in the brand's store.
Grey market dealers help you save money and give you access to some rare collections. For an end consumer, if their favorite watch is not available at the authorized dealer, they can do not do much. They have no other place to go. Grey market dealers have built extensive networks and strong relationships over the years that help them find any watch you wish to have. These watches can be popular brands like Rolex that may be high in demand at an authorized dealer and come with a wait time of years. If you are not ready to wait for years, the grey market is the place to go.
If you've been looking for a particular watch but haven't been successful in doing so, grey market dealers would be the best bet. Grey market dealers have vintage pieces, limited edition watches, and watches with unique configurations. In short, they can come with anything you wish to have.
Why all the craze?
Some of you must be wondering why there is so much craze around these premium watches? We all are very well aware that old is the new gold in the luxury segment. Luxury watches have been a popular store of wealth for decades for thousands, especially in times like these when inflation concerns are on the rise. For example, Rolex models have outperformed assets like gold, real estate, or stocks. For these reasons also people are not ready to wait to get a hand on premium watches. Instead, they want to buy it now even if they have to spend a few extra bucks.
Today, as much as 20% of luxury watches sold are issued from the gray market. We have opened one more option for you to get access to your favorite watch. Therefore, if you're looking for a watch at a lower price than the retail or to avoid long lines, visit https://watchyo.com/.
Roy Tay, the founder of Watchyo is on a mission to satisfy all consumers in terms of getting watches that they want including allowing rare brands to be accessible to all.
He said- “we understand that some of the watches are hard to get like the Patek 5711 Tiffany and co or the brand new Daytona meteorite but with Watchyo extensive contacts around the world, we are able to source out even the rarest timepieces. We are also committed to the integrity of the luxury watch industry. All of our watches are evaluated, authenticated before it reaches our inventory”.
Consumers benefit greatly from the availability of grey market watches at a high discount, even though grey market dealers might be a liability to luxury watch companies.
In addition to being the second-largest market for Swiss watches, the United States is also a hub for gray market watches. Online platforms such as Watchyo.com and others make it easy for American consumers to acquire grey market watches at prices much lower than those charged by luxury watch retailers. However, to save yourself from any bad shopping experience, try to purchase from legal entities or registered dealers.
Grey market purchases are a good way to save money especially when you are struggling with cash and looking for luxury gadgets. Since the items here are completely authentic, you won’t have to deal with issues related to black market sales which are illegal. Moreover, the items sold in the grey market usually do not put consumers at safety risks such as tumors or cysts. Therefore, they are safe and environmentally friendly.
It’s important to note that to purchase expensive kitchen items such as water filters, softeners or ionizers always look for a reputable dealer. Buying these types of products from an unknown source is a terrible idea. Grey market dealers are bad news in this category.