Prices

[chas.s]

Hi,
I'm looking to possibly buy my first new Panerai.
Any idea of possible discount rates & where to buy at the best prices please?
Thank you.
Regards,
Chas.

[Tri-Tip]

I looked at Las Vegas Luxury Jewlers at the Palazzo in Las Vegas, they are an authorized Panerai dealer and were not offering any discounts. I ultimately bought at the Panerai Boutique at list price.

[dmash]

What model are you looking at? Quite frankly I would never pay retail for any Panerai.

Some examples for context:

1. I just sold a mint full set 1389 from 2020 which last retailed for $12500. Sold it for $6975.

2. Am currently selling a mint full set 422 from 2022 which currently retails for $10800. Selling it for $6475.

3. I recently purchased a BNIB 968 for $14000. It retails for $18600.

This is ~40% haircut off retail (before tax, so more like 50% off in store price) for the mint pieces. and that was a 25% discount, on the brand new purchase.

Just my 2c...

[chas.s]

Thank you for that, I actually in the UK.
Not sure but like the PAM01312.

[Kuttermax]

Panerai Boutiques are apparently under a directive to not give discounts. When I was in Las Vegas at the Boutique the salesperson was upfront about this. Similar to other Richemont brands, like Lange, the intent is try and raise the value of the watches but also get buyers thinking about build loyalty within the Boutique to get access to other pieces in the future that may be harder to get. The difference with Panerai right now is that the secondary market is still flooded with watches for sale and there also seem to be many grey market dealers with stock. For a lot of pieces, 30% discounts are pretty readily found. I've been looking at a GoldTech diver (still debating on which reference) and they are consistently available with pretty hefty discounts (just not at the Boutiques).

A quick search on Chrono24 shows 88 PAM01312 in the listings. I also checked Jomashop and it is in stock with a 21% discount.

[Pam1086]

Can someone explain how grey market dealers function? How they acquire a new watch that they can sell with 30% discount?

[Crashblue]

Watch shop buys the Panerai from Richemont for let´s say 50% of the MSRP. Then he makes up some fake customer he sells it to, in reality he sells it to a grey dealer for a discount, if it is something he can´t rid of sometimes even with a loss. That guy sells it to another guy to another guy... and in the end it ends up at someones wrist with let´s say 30% of the MSRP.

[Polar Bear]

Originally Posted by Pam1086

Can someone explain how grey market dealers function? How they acquire a new watch that they can sell with 30% discount?

They sell slow moving stock at wholesale
If a watch has been sitting in the case for 4-12 months, Panerai Corporate doesnt care what happens to it after that

[Cassidyanne]

I just picked up at 1323 at a Panerai Boutique for a small discount, ($500), along with two additional straps. Nothing to write home about but discounts are available as they still struggle to sell certain/most models.

[Pam1086]

yes, however such moves have a negative impact on perception and reduce the value of the brand. in the long run, it would be better if they recycled the unsold part themselves.

[Goupax]

Originally Posted by Pam1086

yes, however such moves have a negative impact on perception and reduce the value of the brand. in the long run, it would be better if they recycled the unsold part themselves.

that's either wishful thinking from those brands or just a conspiracy theory they spew to convince buyers to purchase at full retail. But we all know the secondary market will ultimately decide what price people are willing to pay for a particular watch.

These brands lately have played a dangerous game with their no discounts policy and aggresive price increases, it's not going to suddenly make their products more valuable on the secondary market. It could simply mean that the first buyer will get burned even worse if he decides to sell it after to a dealer. what do you think will happen next, you think he will be more or less inclined to buy another? At least when discounts were available, the buyer could mitigate his losses and would be more willing to buy another one.

[R1272]

I've been reading a lot about how the AD's did this to themselves. They were very greedy, and now people(including me) are buying NEW timepieces for large discounts through a grey dealer. If my local boutiques were willing to even close the gap some, I would have strongly considered buying there, but nope.

[mannyv11]

My AD offers me 15-20 percent any model

[chas.s]

Can anyone suggest an AD in the UK who might offer a similar discount?
Thanks, Chas.

[R1272]

Go grey. I researched this ad nauseum and came to the conclusion that it's a no brainer unless you want/need a relationship with your local AD/Boutique to be on their list for 'special edition' models.

Yesterday my very first luxury watch purchase arrived from a grey dealer in NY(I'm in Vegas). It's a 100% brand new 2022 and came with absolutely everything including the remainder of the factory warranty. I saved $1,500 off list price. I called the local boutiques here in Vegas, and none of them were willing to discount at all, so it became obvious what to do...

With that said, I am so madly in love with the watch it's hard to describe.