![]() ![]() But, there is a very real danger in shopping for fine jewelry and watches on the gray market. Yes, at first blush, this sounds like a win-win for retailers and consumers. This all sounds like a good thing: I save money and the brands get rid of their old inventory. Saddled with this stale inventory, retailers will dump their product onto the gray market where it can be quickly sold at a discount. So shops occasionally find themselves in a tight spot: a collection is stuck lingering in their showcase and a new collection needs shelf space. In addition to that, the retailers are obligated to buy a set number of pieces from the new collections. But, given the high volume retailers are required to purchase each season, not all units are sold. The gray market is a blanket term for the unauthorized trading channels through which luxury watches and jewelry are sold.Īuthorized retailers are contracted to buy a certain number of units from a brand every year. Because some consumers are unaware of these risks, we’re looking into this phenomenon and explaining why shopping the gray market for luxury watches and jewelry is not the smart way to go. ![]() ![]() While it may look like you’re about to score an amazing bargain, there are very real dangers associated with shopping on the luxury gray market. You really don’t want to wear a luxury designer watch when you go hiking right? It would be a safer bet to use a sports watch with a rubber strap and a timer (even a basic digital watch).When shopping online for fine jewelry and watches, you may stumble upon the term gray market, but don’t be fooled by what you find here. For example, you may be an outdoor person engaging in a lot of physically challenging activities, or you may spend most of your time in the boardroom or both or any other combination of activities! So it is important to select a masterpiece that suits your activities. Another insight is that, you should focus on obtaining the most functional watch (s) considering your profession and other interests. Once you get into this mindset you will be positioned to make a rational choice within your budget which will ultimately make YOU happier in the long run. The goal is to impress yourself and not others. Remember that you need to f eel satisfied with your purchase. Here are some more insights especially for you! Impress yourselfĪn interesting insight Geshan shared with me was that he’d select a watch not by looking at the brand, but by how unique it is in its styling. Now for those of you who think, “bigger the brand, the better it is”, if you personally don’t like how the watch looks or the general designs offered by the brand you deem “the best”, then we suggest that it is not the watch you should buy. I have bought multiple watches from this store and restored my late grandfather’s watch too. He is attached to one of the leading watch stores in Srilanka Wimaladarma & Sons.The interesting part about this is that I got to know him due to my weekly visits to one of the stores so I could enjoy glancing through new arrivals. Now, since I promised you a part 2 way more interesting than part 1. I got an additional contributor to this article- Geshan Wimaladharma. ![]()
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