Tips for Getting a Great Deal on Your Next Luxury Watch

We’ve all experienced it – you see something you like, and before you even realise it, it’s already yours. No rational thinking, no negotiation, but sheer impulse. Feel it? But when buying luxury watches, you cannot run before you walk.

It’s exceedingly rare that a buyer walks into a store and pays the asking price without any sort of adjustment. The dealers even anticipate this and leave the play to the customer. So, it’s crucial you’re armed with the right tips to get yourself a good deal on your next luxury watch purchase. Everyone wants a good deal, and the good part is there’s a method to the madness.

Here are 10 ways to score a great deal on your next luxury watch purchase.

Top 10 Tips To Get A Good Deal On Your Next Luxury Watch

1. Buy with sense, not sentiment

The number one thing people get wrong when buying anything is to let their emotions take over. Take a moment to analyse if the watch you’re hooked on to is really worth the cost. Don’t let that booming voice in the back of your head persuade you to believe something else.

Experts suggest that one should never buy a watch based on its marketing. No matter how much a brand advertises it or associates big names with it, take a breath and ask yourself, ‘Does it really serve my purpose or my budget?’ If not, please walk away.

2. Don't overlook the lesser-known watches

You often miss out on good things while waiting for something big to happen. Chances are the watch you want will also be desirable to other people. And this only makes it harder to negotiate. So, don't discard the other options if you want to spend less while enjoying a good value.

For instance, the Tudor Black Bay Pro is a popular watch that is hard to get but sells very quickly. If you shift your attention to the Black Bay 58, you’ll notice it’s a fantastic watch, too. As the Pro is tricky to get hold of, the attention has been diverted to the Black Bay 58. However, that also has become a pretty hard-to-get watch now. The point is - you can enjoy a fantastic watch for a better value with a slight change of mindset.

3. Stick to your budget

We can never overemphasise the importance of being mindful of your budget. Extending from the first tip, people often make another big mistake when purchasing something they’ve longed for is not sticking to the budget. If you’ve got a budget, make sure to stay within it.

You must have done your research and perhaps know the suitable price. Please ensure that you stick to that cost. A little flexibility is okay, but getting carried away is a big no. Otherwise, be prepared to regret the purchase every time you look at it.

4. Explore pre-loved watches 

This is just a suggestion. You can always save money (a lot sometimes) by buying a used watch model. Not only will you get the model you want for a lower price, but you can also find discontinued and other rarer vintage models or a model slightly upgraded from its predecessor at a great price.

While many of you may think that as The Luxury Hut sells pre-owned luxury watches, we naturally say that you should buy used ones. But that’s not the case. Pre-owned luxury watches are in real great investments, too.

5. Value doesn’t only depend on price   

It’s hard to believe this, but there’s more to it. The value you pay while purchasing a watch isn’t only for the piece. Other things that give you peace of mind include the box, papers, warranty, guaranteed authenticity, manufacturer certifications, .etc. All these attributes may seem ordinary, but they are big things that matter in the long run. 

Some people have the heart to take risks and go without these things, but if you really are passionate about getting a luxury watch, the whole experience should feel like it, too.

6. Consider end-of-month buying

Not many will back this up, but our expertise in the field allows us to say that timing can really make a difference. It might sound whimsical, but business towards the end of the month or the end of the fiscal year lets you secure a great deal, mainly because the sellers are required to meet their targets.

If it sounds bizarre, try getting a good price at the start of a new month or year, and you’ll know what we’re trying to say. Now, hang around until later that month, and you’ll see the salesperson gearing up for a favourable deal. Therefore, know the correct time and play your cards right to walk away well compensated.

7. Don’t be too rigid the first time

It’s true that there’s always room for negotiation when you purchase a luxury watch. But, sometimes, stepping back a little and meeting the seller in the middle is necessary, so the following purchase works in your favour. The salesperson already expects you to throw some price adjustment, but if you go with a bridge-burning approach, chances are things won’t work in your favour in the long term.

Play it firm yet fair. When you do fair business, the seller will be willing to make a better negotiation the next time you visit.

8. Keep your offer realistic

One of the worst things you can do when trying to play hard is make a silly offer that puts a neon signboard above your head saying ‘time waster’. The percentage you hope the seller negotiates may be less than you think, especially in the world of pre-owned luxury watches.

Throw in a 50% off casual offer, and you’ll immediately see the seller’s reaction towards you. This is because the time they spend explaining why the watch couldn’t be sold for 50% less is the time they could invest in a potential customer at 5 % off. So, set your offer realistic, such that both parties are in a win-win situation, instead of leaving the seller in a hole.

9. Tell your thoughts like it is

One of the best ways to get a good deal is to be clear about what you want. Never go with the mindset of dominating the other person. Remember, the person is a human, too, and has bills to pay. They want to sell a watch, and you want to buy one, so make the transaction worthwhile.

Either the deal works for you, or it doesn’t, but at the end of the day, you must be straight and honest about what you want and understand the seller’s perspective as well. It’s not always black or white. There is a grey path where you both can meet and get along.

10. No games, just the truth

The big mistake people make when it comes to negotiation is playing mind games or allowing influence to guide their decisions. Not that you don’t know, but remember that the sellers have earned their expertise in the field with numerous successful transactions and are well aware of the various tactics a buyer could apparently use to cross their price.

So, if you’re genuinely interested in the watch and want to get it at a good price, don’t play those games of – maintain eye contact, circle them with your price, etc. Just be honest while seeking what you want.

LASTLY..

Securing a great deal on your luxury watch combines strategy and knowledge. With these tips in hand, you’re well-equipped to navigate the world of luxury watches and walk out with a stunning piece that is a true reflection of your personality and a wise investment, in the sense you can sell your watch at a reasonable price later.

If you want to try your luck on the pre-owned market with these expert tips, you can find the perfect luxury watch with The Luxury Hut. Buy a watch from a reputed professional while securing a fantastic deal. Happy hunting!