Buying a watch, how to reduce the price?

[Andrew]

In @Matt's recent thread "A beginners guide to Real Spend" he talked about dropping the price of a watch down about $3K.

I was recently married and one of the traditions from my wife's family's culture is buying the groom a gift (usually a watch). They have been pushing me to find a watch that I like but I have been stalling as I find it strange to spend around $3000 to $5000 on a watch, especially someone else's money.

The more exciting aspect of this is how I can get a watch with a retail value of $3K to $5K for much less.

The recent Amex Sync offers with Grey and Sons Jewelers got me thinking about all of this.

So @Matt or others with similar experience, can you tell me how to start looking to stack offers to reduce the cost of a watch in such a way.

Also, should I be looking at pre-owned watches?

 

[Matt]

Here's what I did:

http://saverocity.com/finance/how-i-saved-3296-with-bigcrumbs-a-credit-card-and-comparing-prices-online/

 

[Andrew]

Thanks!

 

[BuddyFunJet]

While Matt is a Panerai person, my vice is Piaget. Now that bias is disclosed, here are some thoughts.

First, look at watches that are comfortable to wear, you like and fit your life. For example, large watches are in fashion but I find them uncomfortable to wear even though I am 6'2". For life fit, think of where you would choose to wear that watch rather than your normal one. Does the chosen watch fit.

Personally, I only buy vintage watches for myself but you are in a different situation. Being a wedding gift, I believe that new is the better choice. There are too many feelings and culturl issues that may come from giving a used wedding gift other than family heirlooms.

Once you decide on a few options that look good, go shopping in person. Try everything interesting on. Talk to the salespeople. Narrow the choices down to a few and shop online. Don't forget to figure sales tax or lack of in price comparison.

 

[smittytabb]

In @Matt's recent thread "A beginners guide to Real Spend" he talked about dropping the price of a watch down about $3K.

I was recently married and one of the traditions from my wife's family's culture is buying the groom a gift (usually a watch). They have been pushing me to find a watch that I like but I have been stalling as I find it strange to spend around $3000 to $5000 on a watch, especially someone else's money.

The more exciting aspect of this is how I can get a watch with a retail value of $3K to $5K for much less.

The recent Amex Sync offers with Grey and Sons Jewelers got me thinking about all of this.

So @Matt or others with similar experience, can you tell me how to start looking to stack offers to reduce the cost of a watch in such a way.

Also, should I be looking at pre-owned watches?

Don't worry. You'll pay it back in gold bangles for all of the women in your family for the rest of your life. I've seen that gold in Turkey Get a great watch and enjoy it!

 

[Matt]

or example, large watches are in fashion but I find them uncomfortable to wear even though I am 6'2"

Indeed - I have to point out that I wear my watch about 6 times a year right now, and when I do I am more worried about banging it up.

Good points all round in that post.

Another option that makes sense (ties into your sales tax comment) is buying in the Caribbean, many people will buy in Nassau or STT to get better prices. I'd have to check the law on that, but regarding going for a no sales tax state, you are supposed to declare that and pay the tax to your own state I believe.

 

[Andrew]

Don't worry. You'll pay it back in gold bangles for all of the women in your family for the rest of your life. I've seen that gold in Turkey Get a great watch and enjoy it!

So true. It was interesting seeing people slip large gold bangles on my wife's arm after our wedding. Traditionally, the groom wears a sash across his chest onto which guests pin gold coins or bills. I opted to go with the more contemporary method of putting envelopes in a bag.

 

[Andrew]

While Matt is a Panerai person, my vice is Piaget. Now that bias is disclosed, here are some thoughts.

First, look at watches that are comfortable to wear, you like and fit your life. For example, large watches are in fashion but I find them uncomfortable to wear even though I am 6'2". For life fit, think of where you would choose to wear that watch rather than your normal one. Does the chosen watch fit.

Personally, I only buy vintage watches for myself but you are in a different situation. Being a wedding gift, I believe that new is the better choice. There are too many feelings and culturl issues that may come from giving a used wedding gift other than family heirlooms.

Once you decide on a few options that look good, go shopping in person. Try everything interesting on. Talk to the salespeople. Narrow the choices down to a few and shop online. Don't forget to figure sales tax or lack of in price comparison.

Great recommendations for how to go about purchasing one. I think I need to go browsing and see what I like and how it looks on me.

 

[Andrew]

Indeed - I have to point out that I wear my watch about 6 times a year right now, and when I do I am more worried about banging it up.

Good points all round in that post.

Another option that makes sense (ties into your sales tax comment) is buying in the Caribbean, many people will buy in Nassau or STT to get better prices. I'd have to check the law on that, but regarding going for a no sales tax state, you are supposed to declare that and pay the tax to your own state I believe.

Thats my other concern. I have never been a watch person. I have two Skagen dress watches that my father-in-law bought for me, and I like to wear these with suits but other than that I hardly wear them. This is one of my major deterrents in getting a watch. Spending (or having someone spend) that type of money for something I am not completely sold on is a but much for me.

As for sale tax, I live in Massachusetts so I could always drive up to New Hampshire (has 0% sales tax) for the purchase if I found a good dealer up there.

 

[Matt]

As for sale tax, I live in Massachusetts so I could always drive up to New Hampshire (has 0% sales tax) for the purchase if I found a good dealer up there.

That's my point- if you do that I believe you still need to declare it to MA. Technically...

 

[smittytabb]

So true. It was interesting seeing people slip large gold bangles on my wife's arm after our wedding. Traditionally, the groom wears a sash across his chest onto which guests pin gold coins or bills. I opted to go with the more contemporary method of putting envelopes in a bag.

Yes, must have been a fun wedding! My understanding is that that giving of gold in Turkey as a traditional present continues throughout the lifespan for various and sundry occasions. I find these kinds of things fascinating.

 

[Andrew]

That's my point- if you do that I believe you still need to declare it to MA. Technically...

Yeah, I understood your point about "technically" needing declare it. I was just "talking to myself out load" regarding heading up to NH.

 

[Andrew]

Yes, must have been a fun wedding! My understanding is that that giving of gold in Turkey as a traditional present continues throughout the lifespan for various and sundry occasions. I find these kinds of things fascinating.

It was a very good time. Went off exactly as we wanted, which is the most important thing. And yes, gold is given on various occasions. They actually have a tradition where you visit a newborn and pin a small gold coin to the baby's shirt or blanket, ideally without the parents seeing you.