Going to go off-topic now...
The whole idea of buying a luxury watch now is getting the experience of buying from the AD. You feel safe with your purchase and know it is new and have no worries about the quality or authenticity.
Back then, watches at grey dealers were so much cheaper than retail and you can get used ones for even better prices. There weren't many grey dealers and they would usually have been in business many years and have a solid reputation for what they sell and many would have a very experienced watchmaker available. Fakes then were solely focused on replicating the outer looks, although most you can tell were fakes just by looking, and typically house a generic movement.
Fast forward to now and you have grey dealers selling at prices higher than retail and a market with super replicas which even fake the movement and even have display backs. Grey dealers popping up like mushrooms after a rainstorm and most are staffed by poor pretty girls who have to wear clothes that are 3 sizes too small for them and bosses who look like yakuza members. Everything points at people who want to cash in on the hype. For eg., one grey dealer offered to pay RM54k for a used black dial steel Sky-Dweller when market sellers are asking RM85k..
So just think before buying.. if someone offers you a new BMW at half of the retail price, you'd certainly be asking why no?