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Thread: Rare: Grey market Honkey watch dealer displays price for brand new Richard Mille

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    Rare: Grey market Honkey watch dealer displays price for brand new Richard Mille

    It used to be pretty unusual for RM’s to be at the Grey market shops. Now it is getting common. First time I have seen the price listed. Incidentally this watch is listed for roughly US$165K. Of course you could Presbyterian them down some since they are clearly getting loaded with them.
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    I have never heard the term grey market before, does that mean the watches are stolen or how would they even get them? I have walked by the RM store in the Crystals mall dozens of times and have never once seen a customer buying one. I honestly don't think I have ever seen someone wearing one, now that I think about it.

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    Quote Originally Posted by monsterj View Post
    I have never heard the term grey market before, does that mean the watches are stolen or how would they even get them? I have walked by the RM store in the Crystals mall dozens of times and have never once seen a customer buying one. I honestly don't think I have ever seen someone wearing one, now that I think about it.
    They look like shit, Dnegs Guess watch looked a lot better ...

  4. #4
    Quote Originally Posted by CrackPipes and Kakfights View Post
    It used to be pretty unusual for RM’s to be at the Grey market shops. Now it is getting common. First time I have seen the price listed. Incidentally this watch is listed for roughly US$165K. Of course you could Presbyterian them down some since they are clearly getting loaded with them.
    Grey market dealers generally would not be dealing with stolen merchandise. It varies by brand but probably the bulk of these watches are bought from authorized dealers through middlemen so as not to make it too obvious. ADs have a lot of requirements placed on them to advertise, purchase a certain number of minimum watches etc. They can’t always sell at the retail price what they are required to buy. So they can sell some watches to the grey market at a discount and at least recoup some cash.

    Watches that are in high demand can be sold by authorized dealers to the grey market at a premium. They are not supposed to do this though.

    Other times given FX changes certain countries are a bargain. So you can buy watches in a third country get your VAT or GST back if any and bring the watches to Honkey and resell at a profit to grey market dealers.

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