Tourneau offer to Buy my watch back was very low.

[xcgrammer]

I purchased a Panerai 111 in 2007 for $4300.00 which included tax I went in there last summer to see how much it would be worth in trade on a Rolex Sub and they said $2100.00. Needless to say I declined and sold it for $4550.00. I dont know why any one would sell them back their watch. Would have left $2400.00 on the table.

[superdog]

Welcome to the world of Tourneau.

[kyle L]

Not a fan of Tourneau...

[gwalker]

It's expensive to own that nice big building and all that overhead. You will always lose when trading in. Doesn't matter what store.

[jcm212]

What method did you end up using to sell?

[nick c]

Dealer always gives low and sell for more

[Paladin]

Where did you market it?

[xcgrammer]

I sold it on Ebay recently, and had no problems. The buyer was great and was very happy with it. I also purchased from Scott and Topnotch watches thru eBay. No problems on either end.

[COBill]

Plus it's a little like trading in a car - less hassle, no issues with a buyer, and you only have to pay sales tax on the difference.

[MortgageGuy]

Sounds pretty typical

[z32turbo]

Originally Posted by MortgageGuy

Sounds pretty typical

Agreed!

[Maxtor]

I wonder what they would have looked to sell the watch for after buying it for $2100.

[oneillba]

Tourneau -- the lowest common denominator. A non-plus in my opinion and experience.

[horseco]

Tourneau in my experience = high pressure ripoff

[77T]

Originally Posted by gwalker

It's expensive to own that nice big building and all that overhead. You will always lose when trading in. Doesn't matter what store.

True - and a good point that few folks realize. Retailers are buying at half the retail price to make enough margin to pay employees, insurance, rent, taxes, advertising, cleaning, security, etc.

The OP shares a good example of using eBay to recoup full value - if you're careful about vetting buyers you can minimize the risks.

[Gharddog03]

Doesn't surprise me.

[guyrolex]

Never trade to an AD- they generally offer 50% or less of the price they will list it at

[xcgrammer]

Yeah no I get the overhead and all that but, you would think they would have been closer to the 3K range. That was like a pawn shop type of offer however.

[ManUtd]

Never dealt with Tourneau, was the trade-in value negotiable like in a car dealership or that was it?

[Spikedlee]

Never do a trade in unless you absolutely have to have cash ASAP. You will lose out big time. Be patient and post it for sale online.

[xjeeunitx]

Never sell/trade to retail store. NEVER.

[dddrees]

You'll always do better if you can sell it to someone looking to use it instead of looking to make a profit from it.

[SUPERDOC]

This was an insulting offer, but I think that what has been said has to be considered,
If they sold it to you at a 40% mark up, then they could get a new model from manufacturer for slightly more than they offered you.

Why would they pay you more for a used watch than they would pay Panerai for a new one?

[TuonoRider]

Why are we surprised at this? The dealer buys a new watch and can probably earn a 40% markup on the watch...why wouldn't they do the same thing in pre-owned?

Come on people, this is simple business...

Now I'm not saying they couldn't have made a slightly higher offer on your old watch and/or discounted the MSRP of the new watch a bit more, simply for a repeat/return customer...just to "throw you a bone" and keep your business.

And no, I don't work for Tourneau...just played the retail game for too many years of my life and am thankful I'm OUT!

[sherwin]

i dont blame them for trying to make a profit, its common business sense

[azguy]

Originally Posted by gwalker

It's expensive to own that nice big building and all that overhead. You will always lose when trading in. Doesn't matter what store.

For sure, why would people think that any store or Jeweler would buy a watch if they feel they could not make 50%, typical retail "key-stone" mark-up.

Plus, they may sit on it for a few months before selling.

Trading in is for those with no time and tons of money

[mjclark32]

Originally Posted by azguy

For sure, why would people think that any store or Jeweler would buy a watch if they feel they could not make 50%, typical retail "key-stone" mark-up.

Plus, they may sit on it for a few months before selling.

Trading in is for those with no time and tons of money

Yup

[Scary Hat]

Originally Posted by azguy

For sure, why would people think that any store or Jeweler would buy a watch if they feel they could not make 50%, typical retail "key-stone" mark-up.

Plus, they may sit on it for a few months before selling.

Trading in is for those with no time and tons of money

You nailed it!

Retailers are in the business to make money. Keystone markup (2x cost)
in typical in retail.

[mboverst]

What sherwin said...I agree it was a little low, but it's a business?

You have to remember, they are usually factoring in full services and polishes before they can even sell it on the floor. Tourneau's not going to put a used piece of a brand they carry all scratched up and running 10 minutes fast. Obviously, they're also factoring in how much it would cost them to get a new one and how much they need to make to justify taking in that used piece.

They're a large store with large overhead. A lot of buyers like to go there so that they can browse hundreds of models from all different brands. To carry all these, they have a larger overhead. Therefore any reasonable buyer knows they are paying a premium to conveniently shop at a large store with a big selection.

I shop at a local large grocery store with a Starbucks, free food tastings, and every food imaginable. I know I'm paying more to go here as this store is in business to make a profit. I could go down the street and cut my weekly grocery bill in half...but I don't, for the same reasons some people shop and trade in pieces at Tourneau.

I also trade my cars in to dealers when I want a new one. I could make more in a private sale, but the convenience and tax savings make it 'good enough' to justify taking the loss. Some people just don't have time to list and answer a million questions they may not know the answer to. Not everyone's a WIS and luxury items are just that...luxury items. Most people owning nice watches assume their trade-in prices are the norm and realize they will take a loss on a luxury good and write it off. I find a lot of people are too hung up on 'breaking even' or even 'appreciating' when making purchases. Think about other luxury goods being bought and sold in the marketplace...does your wife overly think and factor in exit strategies before buying that LV purse at the boutique that offers no discount vs. somewhere else? Nope...and 99% of the people buying fine time pieces don't either.