Hey guys,

I was curious for some feedback about how you negotiate price for a watch. When considering a piece that's not truly NOS or mint/collector condition, there's usually some sort of imperfection. But when discussing price, pointing out flaws can be hard to do politely without putting the seller off.

For instance, you have found a watch, a 321 speedy. It's in decent shape, but the dial is not the greatest, but the rest is good and worth picking up. The seller wants 7000, but you want to deduct a bit in hopes of finding a nicer dial.

So, how do you politely point out that the dial is not that nice and you'd like to offer 6000 without offending the seller and derailing the deal?

Is there an etiquette to this? Or do you just call it like you see it and if the deal falls apart, you walk away?

Thanks for the feedback!

 

Great question, I guess it comes with experience. Haggling can be be fun and beneficial for both parties.. It doesn't have to be awkward or painful. But if done right it can help you save some money! Read this article, its not perfect but definitely a good primer to negotiating or haggling.

http://www.artofmanliness.com/2011/05/11/how-to-haggle-like-your-old-man/

 

Try to make it clear that the flaw only speaks to a reduction in price, not that this is mars the watch or your fondness for it. Some may take offense if one takes an underhanded approach of pointing out flaws whilst still making an offer if this is not made clear.

 

That's a nice article, because it highlights that haggling isn't just pushing numbers but building relationships and managing expectations, which I have found to be true.

In your situation oddboy, unless you're already on good terms with the seller I'd expect a counteroffer of $1,000 (15%) less is going to be seen as a lowball no matter what explanation you give. To me, either you really want it and are willing to raise your threshold a little closer to the offer price, or you suggest 6 grand and be prepared to walk away if the reply is in the negative.

For that money I'd expect it to be an ed white at least, in which case you also have to consider that people are aggressively hunting for these and few sellers will entertain a big price cut when they know that patience is all they need.

 

Totally agree. Offer 15% less and be prepared to pay 10% less and be happy

 

I have recently contacted a private collector asking if a watch he owns that I saw on Instagram was for sale. He offered me pictures and an asking price of "X". I did my research online and found 3 examples of similar watches of a slight variant from the model I am purchasing and offered him a price between the 3 examples and his asking price, with description of pros and cons of those 3 examples as compared to his example.

I think it is important to look for history of recent, past sales of the same / similar model, while also recognizing how the watch you are bargaining for compares to those examples (better and worse). After all, if you are intending on buying a watch, there has got to be some good qualities of that watch which attracted you in the first place, so if you just list the slight defects of the watch as compared to past sales, it does seem a little offensive and possibly create a bad taste.

In the end, I got a total discount of 11% (~$500) from the asking price. The seller and I are both happy and still in communication.

 

In my experience in dealing with professional dealers and knowledgeable collector's alike, an initial offer of 20%-25% below asking is not considered an insult. As long as you're cordial and respectful in the way you communicate with them, they will return the respect in kind. Just this morning I made an offer for a watch 20% below and the seller just wanted two percent more. Other times my offers were outright accepted or a compromise was achieved at the 10%. range. Showing that you're knowledgeable about the watch is also key.

Note: there are some dealers that set the asking price at 150-200% market value, and in those cases, I have been able to talk them down to cut their prices as much as half.

 

As someone who sells watches on a regular basis, here are some examples of good and bad negotiations IMO:

GOOD
- comparing to prices of watches currently on sale in similar condition (why buy from you when I can buy similar from someone else cheaper?)
- mentioning a lack of relevant descriptions (why buy from you when I don't know what Im getting?)
- mentioning discrepancies between description and what can be seen in pictures (why buy from you when you seem like you're lying?)

BAD
- comparing to watches not in similar condition
- comparing to watch prices being sold in other countries. There's reason why watches in Timbuktu are lower than in the US, because its RISKY
- comparing to LOWEST "sold" prices on Ebay. It's like asking to buy a stock at yesterday's lower price.
- saying "this is all I can afford" while offering a price ridiculously below fair value
- asking for a discount for a part-out. Seller does not want to be hassled by selling 2 things instead of 1
- asking for a trade with a non-watch. Do you want my guitar speakers? Maybe on Craigslist but not a watch forum

 

Pick the last few known sales (not asking prices) and do a quick comparison between the pros ad cons of each of them and the watch you're considering.

This should give a ln idea of the fair, current market value.

 

Great feedback guys! Thanks!

I guess then, if the watch is priced reasonably (based on other sales of comparable condition), haggling the price down is really not worthwhile. Could end up offending the seller and missing an opportunity.

 

You can always ask.

If I'm selling something I expect to be asked if I'll take a it less.

Just don't be ridiculous.

If something's well priced, I'd think asking for 20% of and the seller countering with 10% is about normal.

 

I sell a lot, the only time I'm offended is if the buyer makes an offer so low that I would only accept it if I were an idiot..

Like for example, $500 on a new Planet Ocean. Happened just this week.

 

$500 for a PO? That's Craigs List pricing!

 

Craigslist Pricing for a KO PO. Stuff like that just ruins your day. Even junk POs will sell more than twice that. Maybe he was thinking I was just selling the bracelet hmm.

 

The problem is, everyone's notion of what "ridiculous" is might be very different...

Sellers often complain about the "low ballers" and buyers often complain about seller's "unrealistic pricing" as the thread we have going here would indicate pretty clearly.

I have no problem asking for what I feel is an appropriate price on a watch, car, house, whatever. No one is forcing the seller to accept the price I offer.

If someone can't negotiate without being offended (on either end of the deal), then they are probably not people you want to deal with anyway.

Cheers, Al

 

If I had asked if you would take $50 to service my Speedy, all in, I find it hard to believe that you would not even be the slightest bit offended that I would put so little value in your labor and expertise? Would you be then someone I would not want to deal with?

Its very hard indeed to exactly say when an offer becomes "ridiculous", but you know it when you see it.

 

Be open. Be honest. Be dis-compassionate and be prepared to walk away.

If it is a mint 2915-1, offer the seller any sexual favours you think might appeal to them and as much money as you can readily lay your hands on.

 

Would I be offended? No I would not. Would I be amused? Yes certainly.

My view is that if you let others value you, your work, or your product, that is your doing, not theirs.

I know what my time an expertise are worth, and if someone doesn't think it's worth that much to them, why would I be offended? I just had a potential customer email me yesterday asking about servicing his Seiko Monster (old version) and another low value Seiko. He didn't offer what he thought he should pay, but if he's asking me to service these he is obviously assuming it's a lot less than it really is. I told him my price for labour for each, maybe 2 times the value of each watch, and explained that I don't do a lot of Seikos unless they are valuable (King/Grand Seikos) or very collectible vintage watches (62MAS divers, etc.).

I wasn't offended, and he wasn't offended. He wrote me back thanking me for the price, and said his watches didn't have any sentimental value, so he would not send them to me for service. No drama.

My old boss used to have a saying... "Don't let that person own your mind" and I think this is what people who get all bent out of shape allow. Being in the business of servicing watches, I expect that occasionally people will come into it with unreal expectations in terms of pricing. The same goes for being a watch dealer...I would think you would have known to expect this as it simply comes with the territory.

I could complain and moan about some of the people I deal with certainly, but IMO it's not professional to do so.

Cheers, Al

 

At least for me, being offended has less to do with being questioned of the value of what I do (I don't have these hang ups) rather because of the fact that my time has been wasted by having to reply to someone with unrealistic expectations. And yes I know that this comes with the territory, that's why for most of the places I sell on, I have automation in place to reject lowballs so my time is not wasted. But still these same lowballers will find a way to contact me directly and make their lowball offers AGAIN.