Shops selling pre-owned watches.

[Danielo]

We all know who they are and where they are.
My question are:

1) how do they get authorised watches to sell as brand new watches? Are they getting them from ADs unofficially?
2) the watches all look like new. Safe to assume they have done some sort of polishing, touch ups on the watch?

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[David_cheong]

1) Most of the new watches are bought in by individual or runner/s (from overseas)
2) New watches that describe new / unworn have all their stickers intact.
3) If these stickers are removed and still declared new or unworn, walk away.

dc

[Danielo]

Isn't buying watches in Singapore and Malaysia being the cheapest  in the world due to them being tax-free (excluding GST)?

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[G.MAC]

Isn't buying watches in Singapore and Malaysia being the cheapest  in the world due to them being tax-free (excluding GST)?

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From what i understand from a friend who was in the business, there is a customer price and there is a dealer price. They would also claim the VAT for the pieces from overseas hence there is an extra margin there for these dealers. Unfortunately we may never know what the dealer price is.

[Danielo]

Makes sense.

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[WatchGalaxyMelawatiMall]

New watches mostly gained from runners or individuals who can source from oversea. As for pre-owned watches, they usually will polish it so it looks like brand new watches. Furthermore, most retailers label their watches if is new or pre-owned watches.

[Danielo]

That's my concern right there.

Shops polishing a watch to make it look new again, but in doing so removes material off that watch, rounding off edges and chanfers, etc.

[David_cheong]

Isn't buying watches in Singapore and Malaysia being the cheapest  in the world due to them being tax-free (excluding GST)?

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From what i understand from a friend who was in the business, there is a customer price and there is a dealer price. They would also claim the VAT for the pieces from overseas hence there is an extra margin there for these dealers. Unfortunately we may never know what the dealer price is.

Dealer/s must always have a margin to play around with.
These margins cover the in house warranty period, insurance coverage, shop rentals and personnel salaries, etc.

For the would be seller, if you match your selling price to those shops price, then good luck to you.

IMO.To qualify as dealer status, you must own a shop. (watch-new or preowned)
Those without a base are called runners or half dealer. And this is the business scenario.

dc