Getting a 5% Discount Off of Rolex Watches
There’s somewhat of a tradition in Asian cultures where, upon an engagement, the wife’s parents by the husband a watch. As the engagement ring is a sign of the husband’s “value,” the watch is the symbol of the wife and her family’s wealth. These days, it seems like the Rolex is the standard. I’m not complaining.
But when we went out to buy, I learned a bit about Rolex pricing. Pretty much, Rolex only sells new to certain qualified retailers. And they sell to each retailer at the exact same price. Therefore, the retailer can set their own prices and their own profit. Most of these prices are pretty much the same—everyone knows who sells Rolexes and you *can* shop around for better prices. And each retailer can give at least a 5% discount on their prices. If they don’t, everyone knows you can walk and get a better price at the next store over.
It’s kind of like buying cars (and not just because they cost almost the same)—and like buying cars you have to go into armed with as much knowledge as you can get.