What is the etiquette for making an offer?

[1William]

The first thing to do is determine if you are really a buyer or just getting ready. If you make an offer and the dealers says yes are you ready to buy? Nothing worse than a tire kicker who asks for a deal, gets it and then does not buy. The big mystery in dealing with pre-owned watches is what does the dealer have in the watch? They could have an amazingly low amount in the watch and will move it for a great price. They could have too much in the watch and will hold tight. Other factors are also the manner you pay, cash is king, and will this be a long term relationship or a one time purchase. Play it straight. Go in, introduce yourself if the dealer does not know you or provide background so the dealer will have some comfort with who they are dealing with. Tell the seller your intentions and ask for a best price. If you do not reach the number you like then leave your contact information, phone/email, and walk. Give it a day or two and I bet the seller will contact you if you handle it right and you will work on a price that is acceptable. There are not a lot of PM Rolex buyers just walking around. Good luck and let us know what happens.

[RHIII]

Originally Posted by jgottsman11

I am used to making offers on high end musical instruments, so I generally know what to expect for a discount in that market.

I am curious about the Rolex watch market. I am wanting to make an offer on a watch on Monday but want to be respectful and not seem like I am lowballing. I personally do not think it is a lowball offer, but I am not sure how much one should expect on average to see being discounted for used watch sales.

Does it vary dealer to dealer? Does it depend on that watch?

(I'm looking at a Day Date 118238 locally FYI)

Sounds to me like you’ve got a solid basis. Truthfully there’s really no difference between the two. As long as you know the product you’re after and the acceptable ranges - you’re good to go.

An offer on something - regardless - is what it is worth to you - but should still be based on reasonable ‘market, valuation. That doesn’t mean you can’t go low. The variance in weighing the individual dealer positions would be the same as a a dealer of high end musical instruments, how long they’ve had it, how eager they are to move etc. The reference you’re after should be able to be had at a deal. At the end of the day, all someone can say is no.

Good luck!!! The hunt is the best part.

[jgottsman11]

Originally Posted by 1William

The first thing to do is determine if you are really a buyer or just getting ready. If you make an offer and the dealers says yes are you ready to buy? Nothing worse than a tire kicker who asks for a deal, gets it and then does not buy. The big mystery in dealing with pre-owned watches is what does the dealer have in the watch? They could have an amazingly low amount in the watch and will move it for a great price. They could have too much in the watch and will hold tight. Other factors are also the manner you pay, cash is king, and will this be a long term relationship or a one time purchase. Play it straight. Go in, introduce yourself if the dealer does not know you or provide background so the dealer will have some comfort with who they are dealing with. Tell the seller your intentions and ask for a best price. If you do not reach the number you like then leave your contact information, phone/email, and walk. Give it a day or two and I bet the seller will contact you if you handle it right and you will work on a price that is acceptable. There are not a lot of PM Rolex buyers just walking around. Good luck and let us know what happens.

Thanks. I'm absolutely ready to buy. It's just a large purchase so I want to make sure I'm doing it right.

[jgottsman11]

Originally Posted by Sublovin

Pretty sure you are overthinking it.

You're absolutely right. Having sleepless nights about this watch so I want to make sure I do everything correctly.

[EEpro]

Originally Posted by jgottsman11

I am used to making offers on high end musical instruments, so I generally know what to expect for a discount in that market.

I am curious about the Rolex watch market. I am wanting to make an offer on a watch on Monday but want to be respectful and not seem like I am lowballing. I personally do not think it is a lowball offer, but I am not sure how much one should expect on average to see being discounted for used watch sales.

Does it vary dealer to dealer? Does it depend on that watch?

(I'm looking at a Day Date 118238 locally FYI)

The bid / ask on Bobs for the 118238 is $14K / $16.6K with no sales tax. Anywhere in that range wouldn't be unreasonable although they can also say no.

[Xenon]

Say "I would love to pay no more than xxx dollars for that watch"

[THC]

Great advice prior to my post, so good luck OP

This is a great place

[Sublovin]

Originally Posted by jgottsman11

You're absolutely right. Having sleepless nights about this watch so I want to make sure I do everything correctly.

I don’t think there is “correct” or “incorrect”. I’m sure the seller has a bottom price in mind that they are willing to sell it for, so unless you plan to offer to buy other items with it, you are overthinking it.

Buyer: I’m willing to pay x
Seller:okay, or I’m willing to sell for Y
Buyer: either agree and buy or disagree and walk.

The best negotiation tactic is being willing to walk away.

[dontbeshort]

Originally Posted by jgottsman11

You're absolutely right. Having sleepless nights about this watch so I want to make sure I do everything correctly.

I’m kind of in a similar situation as yourself. I have been following many many adverts on Ch24 in recent weeks and basically the story is “Watches ain’t selling!”. And sellers are not lowering their prices. Who knows what the right price is because in the unregulated 2nd hand watch market we only see the offer price. We don’t see the bid and we don’t see the traded price. In an unregulated market I’d be happy to scattergun low ball bids, post trades which you haven’t done, work the market to your advantage. You can bet your bottom dollar the greys will say “ Yeah I’ve sold 3 already today and I’ve got one left”. REALLY!!!! The grey market is almost at a standstill......

[brandrea]

Originally Posted by jgottsman11

Thank you everyone for the responses. I'll see how it goes on Monday

Good luck

[pickettt]

Originally Posted by Sublovin

The best negotiation tactic is being willing to walk away.

Agreed.

[iliketime]

Like kenny rogers said "gotta know when to fold em, gotta know when to walk away and know when to run"

[Ranger67]

Take any emotion out of the deal, know the top price you are willing to pay, offer something below and go from there.
I have bought a few cars for friends, not that I’m a great negotiator but as said it’s an emotionless purchase on my behalf so will just walk away if not the right deal.

[Deroya]

don't be rude? or lowball with 50% of asking

[Brian Page]

Originally Posted by jgottsman11

That's fair... I guess my question was kind of silly.

I don't think it's a silly question, I think you were asking what to expect as far as a street price goes, I used to manage a music store....

Right now there is hardly any give at all in the Rolex market, none in SS market for sure.

If you are looking at precious metal there could be some flex, but - never hurts to ask. Just don't be surprised if you get a hard push back.

[Matt129]

My advice, appropriately priced at free, is to always do two things. One, offer an actual amount. Don’t say “whats the best you could do on this?” Instead, offer them a number.

Two, let them know if they reach the number you are immediately ready to buy. So if its a steel sports at $9800 I may say “I love the watch but I am at $9200. If you can make that work I will arrange the wire transfer today.”

[Max7857]

a style that has worked well for me over the years on high end items be it watches, cars, etc. is to first do my homework to determine the price I want to pay then I go to the dealer develop a little rapport with the rep and if I want to buy the item I take out the cash or check already made out to the business with amount including tax place in in front of them and say "this is what I can pay" and then go silent. That 30-60 seconds of silence can be deafening especially if you are looking at them the whole time but more times than not the offer is accepted assuming your are dealing with a person in a position to make a decision. If they say something like can you meet me half way you have to be willing to take the money off the table and say no I'm sorry this is the best I can do. If you do it with confidence and without emotion seldom will they let you walk. All this of course assumes your offer is on the low but still fair side and that you are a person that they have enjoyed spending time with. On the few occasions where this doesn't work the deal can usually be revisited a week or so latter and be gotten for relatively close to the original offer.

In the end I suppose it gets down to more of if you enjoy the "sport"of the negotiation more than the actual money saved. Most things that I negotiated hard for I can't even remember what I paid for them thirty days later lol. Good luck to you.

[kumar75203]

It's a good question.

I try to keep it super short. I figure they must get hundreds of emails a day. Don't need to tell them my life story.

[Chadridv]

Just be polite, respectful and fair.

[TankTom]

Originally Posted by jgottsman11

Thanks. Anyone have any thoughts on emailing an offer this weekend while they are closed or should I wait until Monday and call in to discuss?

Wow. Have you ever purchased anything before in your life? Sorry to sound rude but this is pretty basic stuff

[jgottsman11]

Originally Posted by TankTom

Wow. Have you ever purchased anything before in your life? Sorry to sound rude but this is pretty basic stuff

Mr. UK needs to get his big boy words out for the day. Did that satisfy you, Tom? I'm just trying to ask every question I can to secure a piece I want for the right price.

Edit: I just looked at some of your other replies to other threads. You're just negative in general. Keep that across the pond and have a happy day!

[DonRickles]

Here's some great advice when bidding.....

"You can always go up, but you can't go down"

[jgottsman11]

Originally Posted by DonRickles

Here's some great advice when bidding.....

"You can always go up, but you can't go down"

Thank you, sir. With everyones help today, I've gotten some great tips going into my negotiation on Monday.

[rajcuatrista]

As a purchaser, regardless of what the item is...
I always try to get a better price....you should too.
What guitar is that?

[DonRickles]

Originally Posted by jgottsman11

Thank you, sir. With everyones help today, I've gotten some great tips going into my negotiation on Monday.

My pleasure! I'm excited for you!

The best of luck in your negotiations and I'm looking forward to some pictures, upon your certain success

[jgottsman11]

Originally Posted by rajcuatrista

As a purchaser, regardless of what the item is...
I always try to get a better price....you should too.
What guitar is that?

It is my Bourgeois OM Soloist. My main hobby is collecting guitars.

[askdanny]

I hate the game. When I buy, I always offer the most I’m willing to pay—and I price my watches for sale at the lowest I’m willing to go. But I’m firm in the strictest way, I stick to my guns, and walk away. I’m sure I’ve lost hundreds (thousands?) by not wanting to play the back-and-forth, used-car-dealership-style game. But I sure saved some time, hahaha.

[springer]

Originally Posted by jgottsman11

You're absolutely right. Having sleepless nights about this watch so I want to make sure I do everything correctly.

If the watch isn't overpriced, just buy it.

[dcash0615]

No harm in making an offer based on what you would like to pay. Seller always has the opportunity to decline or counter your offer. Whatever offer you make be ready to buy if accepted. Nothing is worse than receiving an offer from a buyer and you accept, only for the buyer to go dark.