On the hunt: Haggling

[jshepard]

Hey guys, I'm getting ready to start my "hunt" on another watch. I'm looking at a few Rolex models as well as looking into JLC. I'm in the process of doing some research on a few models (Rolex being easier to research compared to JLC). I'm going preowned this time around and I'm looking into some ADs, grey markets and in the classifieds of different watch forums. Anyway, I've never haggled before (I've never been in a position to do so, and I assumed
you'd be a fool to not try when possible). So here's the questions:

1.) How do you start? Do you simply ask how much they are willing to give or do you go?
2.) Would it be an insult to start low (how low is low-balling anyway?!) expecting that they will counter anyway?
3.) How much big of a discount from the original price could I respectfully start with for a Rolex or JLC (I hear JLC doesn't retain it's value compared to a Rolex)?

I hope a don't come off as an a-hole in this post haha, just trying to get the best price without seeming like an a-hole to the seller...

[watchwatcher]

Well, a great place to start is the FS section right here on TRF...you can look at what BNIB and LNIB models are going for and then decide what your bottom line is when you go into talk to the AD. Simple as that.

[wantonebad]

No tax, deep discount, I wouldn't buy a new Rolex anywhere else but here!

[RolexDivers]

If a watch is really in superb condition and complete, then expect to paymore...there is no rule as to how much to pay, just general ballpark figures and price ranges...

[melons]

Do your research on the model(s) you're interested in, that will give a good idea of current values.

[Brandon(phila)]

Never Low Ball....
The Seller may not counter offer...but not even want to deal with you.
I have sold some watches on the forums...but nothing worse than a low ball offer...I instantly delete.
I know everyone wants the best price...who wouldn't, but get a feel for what the range for a particular model is going for.

Other factors:
Person is very anxious to sell (Need to sell before then get their next) .= better deal for you.

If not in a hurry to move the piece / or some dealers already have it listed at the price they want, if not, they will wait or just wont sell until they get the asking price

Be patient and keep looking, there will always be another one. (At least for Rolex - Plenty of them everyday) the JLC depending on the model...if you find exactly the one you like, it may not come around again as quickly.

[77T]

If you do your homework and know the fair value, then your negotiations will be much smoother. Remember you will be working with a seller who likely does this day in and day out - you on the other hand will do it a few times a year.

Just be honest with the seller about your budget and what you believe is a fair price. If s/he has too much cost tied up in the watch, you'll just get a "no".

Agree with others who said some better prices are here on TRF. Other option is eBay. I'd steer clear of Craigslist since too many risks - of all kinds BTW.

Good luck in your quest!

[mcavana]

Negotiation 101

A good rule of thumb is never try to tell the seller that you believe the item he is selling is worth less then what he is asking for it. 99% of the time, all you will do is piss the seller off. You don't know the story of the item. You don't know what they have in it, or what the extenuating circumstances are. Bottom line is you won't get the best deal if you piss off the seller.

A much better approach is to simply tell the seller the most you can pay for the item. At that point, without emotion, the seller can simply say yes or no.

Example.... the asking price of the item is 5k. Your only willing to pay 4k.

DON'T say: "Your item is NOT worth 5k. It is on sale everywhere for much less. I won't give you a penny more then 4k."

Instead say: "I really want the item, but the absolute most I can spend is 4k. Is there any way you can sell it for that today?"

Don't lowball! Again all your going to do is piss off the seller. Don't offer a ridiculous number that you know they will never take. Instead research the item you are buying and carefully offer what you are willing to pay, that they should reasonably consider.

Example.... the asking price of the item is 5k. You know the item is only worth 4k. You are willing to pay 4k but you really want to try to get it for 3.75k.

DON'T say: "Will you take 2k for your item?"

Instead say: "I know you are asking 5k.... The most I can come up with right now is 3.75k. I know it is a longshot, but would you be willing to sell it for 3.75k if I pay cash today?

Remember, unless it is a very rare piece, it is always a buyers market. There is probably many different people selling the same watch, in the same condition, for the same money. If you can't agree on a price, thank the seller for their time, and tell them to let you know if anything changes. End the contact on a good note! If you piss the seller off, they won't call you back when something changes tomorrow and they can either do or come very close to your offer.

Take any and all emotion out of it. Showing any emotion at all will give the seller the upper hand.

My last bit of advice is DO NOT CONTACT A SELLER UNTIL YOU HAVE THE FUNDS AND ARE READY TO BUY!!!!! Nothing pisses a seller off more then negotiating a price of an item with someone who ends up not even having the means to buy TODAY.

[nauticajoe]

You found the right place!

Happy Hunting!

[Flat6fan]

I have found this thread very informative. I'm plannin a negition in the future, and this helps. I have bought many used cars, but never a watch.

[jshepard]

Man! So much information! Thanks a bunch guys! If all goes well I'll have an incoming thread next week! Wish me luck!!

[htc8p]

my advice: have the money in your hands = easier to negotiate. and more importantly be patient.