Gray market watch dealers4/20/2023 A business that has been built over decades could be gone if even one buyer gets spooked. All of that is put at risk with the sale of a single inauthentic watch. The reality is, however, that these dealers are individuals with families and employees to look after. Let’s wrap this up by clearing the air a bit: A lot of this article portrays gray market dealers almost like programmed automatons. By “work,” I mean you could have a new Rolex on your wrist by the weekend!Įven rare timepieces like the Paul Newman Daytona are sold on the gray market. While the gray market isn’t a perfect system, it does work. In fact, the more sales a platform like Chrono24 can safely complete, the more it can re-invest in further developing its safety net. The gray market will always be there in some form, but at the risk of sounding cliché, it also exists in varying shades of gray – and they are getting lighter all the time. With the free Escrow Service and the 14-day return policy, dealers don’t get paid until we know that you have received your watch and want to keep it. If you’re looking for a high-value watch over $10,000, our new Private Client Advisor service offers informed guidance for the purchase of exclusive timepieces.įinally, the Buyer Protection program ensures that you receive exactly what you ordered or your money back. What if you’d like to buy a watch but want to talk to an actual human about it? Chrono24’s customer support team speaks over 20 different languages to assist buyers before, during, and after their purchase. After the dealers pass certain tests and join the platform, they are under their constant supervision. This team investigates each potential dealer looking to join the platform to confirm whether they consistently deliver quality products and have an excellent track record with customers. The first is our dealer registration department. Let’s look at some of the specific tools Chrono24 uses to ensure a smooth purchase experience. Gray market purchases can be as safe as buying in a boutique. Chrono24 alone has dozens of employees dedicated to monitoring dealers and assisting buyers. Competitor companies in this space constantly try to out-police each other, adding more and more protections and eliminating surprises. If gray market dealers are free to scam buyers with impunity, the buyers will disappear, and the platform will crumble. Survival of the StrictestĪn important point to keep in mind is that the success of online marketplaces is directly determined by the level of service and security they can provide their customers. The reality of these large companies competing for (gray) market share provides the proof of concept that quality products can indeed be purchased safely on the gray market, even when dealing with large volumes of high-value items across international borders. Some of these companies sell a little bit of everything, and others (including Chrono24) specialize in watches. Once the gray market was established, larger companies began moving in and providing marketplaces with a greater sense of quality, accountability, and consistency. Is it safe to buy watches on the gray market? If you like Cartier, you can find good deals on the gray market.
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