http://www.crmjewelers.com – Pre-Owned vs New Watches – Which One Should You Buy?
In this Watch Your Style video, Eric Rivera tackles a popular question luxury watch customers ask when they call our Miami store: Should I buy new or used?
Even though every customer is different – each with his or her own unique taste in watches – Eric provides his advice based on his extensive experience in the watch industry.
He also compares a pre owned vs. new Rolex Yacht-Master II in the video and explains the advantages, disadvantages and unique characteristics of each.
At the start of the video, Eric explains that the difference in price between a typical new and used high end watch is between one to two-thousand dollars. The difference in price is one of the three factors Eric suggests should be considered to determine which is a better option for you: pre-owned or new.
3 Factors to Determine if You Should Buy a New vs Used Watch
1) Watch Dealer's Reputation – Before buying a preowned or new watch, a customer must consider the reputation of the dealer. The last thing a customer should do is purchase a pre-owned Rolex or any other model from a dealer who is not trustworthy. One way to determine the reputation of the dealer is to look at their reviews on the Internet.
2) Second on Eric's list of important factors to determine whether to buy pre owned or new is the condition of the watch. Eric explains that in order for him to choose pre-owned over new, the watch has to be in “like-new” condition; otherwise, it wouldn't make sense.
3) The third and last factor Eric considers in the new-vs-used debate is Price. As he mentions multiple times throughout his video, used watches (in like-new condition) are normally a few thousand dollars lower in price than their respective newer versions. This obviously makes them very attractive to budget conscious customers or buyers that just like getting the best deal possible.
An important instance, Eric explains, when some customers might be better off buying pre-owned watches instead of brand new ones is when they plan to trade in their watches often.
Eric uses himself as an example. Often times, he likes to buy a high end watch (for example, a stainless Yacht-Master II), wear it for a while, and then trade it in to get something different (for example, a gold Submariner). In order to minimize the amount of money that he may lose in a trade in, Eric prefers to buy pre owned watches in like-new condition. This is great advice for those who get bored of their watches quickly and want to make a new fashion statement often!
Another important topic Eric discusses is the warranty card that may or may not come with a watch.
Eric explains that new watches come with a plastic warranty card from the manufacturer, as highlighted on the video with the Rolex Yacht-Master II.
Unfortunately, many times when the original buyer of a new watch decides to sell it, he or she does not turn in the warranty card. This may be for privacy reasons, since the card shows the information of the seller, or just because the seller lost or forgot to bring the card with him or her. As Eric explains, this does not mean that the watch is fake.
He goes on to explain that when a preowned watch does not come with a card, it is not a deal breaker for him, since the watch still carries the warranty of a trustworthy dealer (if you followed Eric's advice when you bought it!).
Even though Eric does feel like pre-owned luxury watches are typically the more attractive buy, the decision to buy a new or used watch is a matter of opinion and preference.
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