Who in the hell is buying watches on Mr Porter and HODINKEE?

[AutoBay]

Morning fellow WIS - wondering if you folks can help me figure out what in the heck is going on with these people buying JLC's, NOMOS and the like at 100% full price from Mr Porter, Hodinkee and the rest of the online crowd. Would we chalk this up to just not knowing better, or is there something I'm missing?

[tyler1980]

convenience and some people just don't like to haggle. Plenty of people go into a physical AD and pay full price knowing full well they could probably get some sort of a discount if they wanted to play the game.

Not judging either way but your post ignores the fact that not everyone is price sensitive on a luxury good.

[AutoBay]

Originally Posted by tyler1980

convenience and some people just don't like to haggle. Plenty of people go into a physical AD and pay full price knowing full well they could probably get some sort of a discount if they wanted to play the game.

Not judging either way but your post ignores the fact that not everyone is price sensitive on a luxury good.

That's a really good point. I guess I just figured that most people would do a little bit of googling before dropping thousands...shows what I know.

[tyler1980]

Originally Posted by AutoBay

That's a really good point. I guess I just figured that most people would do a little bit of googling before dropping thousands...shows what I know.

i wouldn't do it for an online store. Maybe Hodinkee if i wanted to support their business as i think they are good for the watch community in general with their articles.

I would pay full price from an AD though as then your AD likes you and gets you hard to get watches that you would have to pay way above retail from a grey dealer to get. I dont see that same sort of reciprocal relationship from an online store.

[AutoBay]

Originally Posted by tyler1980

i wouldn't do it for an online store. Maybe Hodinkee if i wanted to support their business as i think they are good for the watch community in general with their articles.

I would pay full price from an AD though as then your AD likes you and gets you hard to get watches that you would have to pay way above retail from a grey dealer to get. I dont see that same sort of reciprocal relationship from an online store.

Yeah, see - exactly. I don't always ask for or expect a discount from my AD, but my AD also scored me almost all of the watches from Basel I wanted within the year. Hard to imagine those tough pieces going to online resellers or online resellers caring what your historical spend has been.

[DLRIDES]

Hodinkee purchases are a hipster rite of passage.

[tyler1980]

Originally Posted by DLRIDES

Hodinkee purchases are a hipster rite of passage.

I wore a sweater and had a beard way before i found Hodinkee

[Etschell]

uniformed buyers

[GradyPhilpott]

I would imagine that those who don't live and breathe watches, as we do, would find piece of mind buying watches at MSRP from names they trust.

Even after I began to consider myself an informed buyer, I continued to buy Rolex and Tudor watches from my AD at MSRP.

I called it the "peace of mind premium" and I have no regrets about it.

Of course that's not the same as buying from the outlets you mentioned, but it probably explains to some degree why people do it.

[Cru Jones]

Cheap for brands to set up online stores and any sales are pure gravy (no middle man).

That being said, it obviously can't be the main source of distribution for any but the most boutique of brands.

As for why people buy?

Convenience + some people just prefer online shopping + for some people luxury isn't about haggling over percentage points.

As for buying from Hodinkee? LOL, no idea...

[RXAPPP]

I’ve wondered the same myself however that said for every watch guy asking for a discount in an AD there are probably 2 or 3 that pay retail. The downturn has clearly impacted the industry so much so that ADs are open to discount whilst manufacturers bring cheaper offerings to the market. At one stage not so long ago however there seemed to be a move away from ADs and into boutiques as part of a greater strategy to elimate the grey market and I assume discounting

[Syed117]

Most people do not know that buying a watch can be like buying a car.

The average has no idea that discounts are even possible. Just like any retail store, you walk in a pay whatever the retail price is. Especially for luxury items.

[locutus49]

This is a great insight. In America, most retail goods are non-negotiable. Cars are the exception. For most Americans, paying the MSRP is normal. Watch geeks are a minority, and the vast majority of retail sales cover the few discounts that are given to those who ask.

Originally Posted by Syed117

Most people do not know that buying a watch can be like buying a car.

The average has no idea that discounts are even possible. Just like any retail store, you walk in a pay whatever the retail price is. Especially for luxury items.

[Chewbacca]

Originally Posted by locutus49

This is a great insight. In America, most retail goods are non-negotiable. Cars are the exception. For most Americans, paying the MSRP is normal. Watch geeks are a minority, and the vast majority of retail sales cover the few discounts that are given to those who ask.

i agree.

[locutus49]

1)

Originally Posted by Chewbacca

i agree.

[Rock]

I hate haggling but I hate being taken advantage of even more.
With any product, I do my research and make a sensible offer.
If they want my business they have to make some sort of price concession.
Everybody is different. I have a watch-aficionado mate who loves to haggle and achieves some amazing price reductions, but I understand that others may find haggling undignified.

[AzHadEnuf]

Originally Posted by AutoBay

Morning fellow WIS - wondering if you folks can help me figure out what in the heck is going on with these people buying JLC's, NOMOS and the like at 100% full price from Mr Porter, Hodinkee and the rest of the online crowd. Would we chalk this up to just not knowing better, or is there something I'm missing?

How do you know they are paying 100% full price?

[locutus49]

So in Australia you don't have set prices in grocery stores and hardware stores, etc.?

I know that in some countries groceries are sold in outdoor markets and prices can be haggled. But I thought Australia was like USA in that most prices were fixed, except cars and in some cases luxury watches. Like a diamond necklace or luxury handbag: in America no one would think of haggling on the price, they are fixed.

Originally Posted by Rock

I hate haggling but I hate being taken advantage of even more.
With any product, I do my research and make a sensible offer.
If they want my business they have to make some sort of price concession.
Everybody is different. I have a watch-aficionado mate who loves to haggle and achieves some amazing price reductions, but I understand that others may find haggling undignified.

[GradyPhilpott]

Originally Posted by GradyPhilpott

I would imagine that those who don't live and breathe watches, as we do, would find piece of mind buying watches at MSRP from names they trust.

Even after I began to consider myself an informed buyer, I continued to buy Rolex and Tudor watches from my AD at MSRP.

I called it the "peace of mind premium" and I have no regrets about it.

Of course that's not the same as buying from the outlets you mentioned, but it probably explains to some degree why people do it.

Peace of mind, Grady!

It's peace of mind!

[tyler1980]

Originally Posted by AzHadEnuf

How do you know they are paying 100% full price?

you "add to cart" then check out... its not "buy it now or best offer"

Its net neutrality for watches. Everyone gets the same price

[dddrees]

Originally Posted by GradyPhilpott

I would imagine that those who don't live and breathe watches, as we do, would find piece of mind buying watches at MSRP from names they trust.

Even after I began to consider myself an informed buyer, I continued to buy Rolex and Tudor watches from my AD at MSRP.

I called it the "peace of mind premium" and I have no regrets about it.

Of course that's not the same as buying from the outlets you mentioned, but it probably explains to some degree why people do it.

^This

Peace of mind is priceless. Especially when your already spending a good amount of money. It’s not like there aren’t plenty stories of people trying to sell fakes.

[tyler1980]

Originally Posted by GradyPhilpott

I would imagine that those who don't live and breathe watches, as we do, would find piece of mind buying watches at MSRP from names they trust.

Even after I began to consider myself an informed buyer, I continued to buy Rolex and Tudor watches from my AD at MSRP.

I called it the "peace of mind premium" and I have no regrets about it.

Of course that's not the same as buying from the outlets you mentioned, but it probably explains to some degree why people do it.

yep. My AD just gives me a token discount. I dont ask and he just writes down the price. I know full well I could get a lower price if i shopped around, but i value the relationship as i dont have to play games ever if i want a hard to get watch. Piece of mind + not having to jump through hoops or play games is worth a lot

[joerivers1961]

Originally Posted by tyler1980

yep. My AD just gives me a token discount. I dont ask and he just writes down the price. I know full well I could get a lower price if i shopped around, but i value the relationship as i dont have to play games ever if i want a hard to get watch. Piece of mind + not having to jump through hoops or play games is worth a lot

These two comments above are the truth. I have friends that deal and friends that are AD's. As much as I like both I prefer AD. Not a fan of bragging that I got a "deal" I like what I like and that's it. Also keep in mind that when you buy from an AD. There is probably a salesperson that will appreciate that extra commission dough that might help put food on their table. It also helps when you are looking for a special piece, with a strong relationship you are more likely to get that call first.

[AzHadEnuf]

Originally Posted by tyler1980

you "add to cart" then check out... its not "buy it now or best offer"

Its net neutrality for watches. Everyone gets the same price

The Onlines I’ve used have phone numbers. I’ve called and made offers on watches and bought under MSRP. I don’t know if many work this way or not.

[Star Ferry]

It does not appear that Mr Porter offers the OEM warranty... Plus, with a lot of the brands they are offering, (IWC, JLC, Zenith, etc) you could save 4 figures buying elsewhere.

But for clothing, Mr Porter is a great website. They measure the garment at every size, which I find really helpful. Shipping via DHL is free. Packaging is top-notch, and a paid return shipping label is included.

In HK, prices are in GBP (UK retail minus VAT) and the product ships free from the UK.

[tyler1980]

Originally Posted by Star Ferry

It does not appear that Mr Porter offers the OEM warranty... Plus, with a lot of the brands they are offering, (IWC, JLC, Zenith, etc) you could save 4 figures buying elsewhere.

But for clothing, Mr Porter is a great website. They measure the garment at every size, which I find really helpful. Shipping via DHL is free. Packaging is top-notch, and a paid return shipping label is included.

In HK, prices are in GBP (UK retail minus VAT) and the product ships free from the UK.

Correct me if im wrong, but i think Mr. Porter is part of the Richemont group or at least affiliated in some way, or is that different from Net-A-Porter? I would assume factory warranties would be included from any e commerce site with an ownership affiliation with the watch brands it is selling.

[Star Ferry]

Originally Posted by tyler1980

Correct me if im wrong, but i think Mr. Porter is part of the Richemont group or at least affiliated in some way, or is that different from Net-A-Porter? I would assume factory warranties would be included from any e commerce site with an ownership affiliation with the watch brands it is selling.

it's confusing. The product listings say "We offer a two year warranty for all working parts and any manufacturing faults."

I can't tell if they are talking about a manufacturer's warranty. If I have a problem with the watch, do I contact IWC or do I contact Mr. Porter?

this zenith doesn't mention any warranty, maybe because it's LVMH owned? They could have a deal that allows them to buy at wholesale but doesn't make them a full-fledged AD
https://www.mrporter.com/en-us/mens/...r-watch/672168

[bardamu]

Originally Posted by tyler1980

Correct me if im wrong, but i think Mr. Porter is part of the Richemont group or at least affiliated in some way, or is that different from Net-A-Porter? I would assume factory warranties would be included from any e commerce site with an ownership affiliation with the watch brands it is selling.

That was true up until a few years ago.

Net-A-Porter and Mr. Porter were owned by Richemont, but were sold in 2015 to their current owners, Yoox (yup, same site that sells deeply discounted excess inventory).

The firm renamed themselves YNAP (Yoox Net-A-Porter) and now also runs e-commerce sites for a large number of luxury brands including Alexander Wang, Missoni, Valentino, Armani, etc.

At the time Mr. Porter started selling watches they were still owned by Richemont.

Today Mr. Porter is an authorized retailer, so the factory warranty applies. They are not a grey dealer.

[Star Ferry]

Originally Posted by bardamu

.

Today Mr. Porter is an authorized retailer, so the factory warranty applies. They are not a grey dealer.

They would benefit from making that clearer on their website!

[tyler1980]

Originally Posted by bardamu

That was true up until a few years ago.

Net-A-Porter and Mr. Porter were owned by Richemont, but were sold in 2015 to their current owners, Yoox (yup, same site that sells deeply discounted excess inventory).

The firm renamed themselves YNAP (Yoox Net-A-Porter) and now also runs e-commerce sites for a large number of luxury brands including Alexander Wang, Missoni, Valentino, Armani, etc.

At the time Mr. Porter started selling watches they were still owned by Richemont.

Today Mr. Porter is an authorized retailer, so the factory warranty applies. They are not a grey dealer.

well, that clears it up. Thanks