So what is the Grey Market really? If you’re new to watches you may have no idea and on the other hand you may be experienced with Grey Market dealers. But what is the Grey Market really and why do we need it?
First things first, let’s start with the most common misconception regarding the “Grey Market”… The name is in no way associated with any illegalities and is not to be confused with the “Black Market”. Although it does take a slight hint of obscurity from the name “Black Market” by being “Grey” i.e a milder version of a somewhat hidden market. The Grey Market refers to an enormous market of certified legitimate watches that are sold at the true ‘market price’. ‘True’ being defined as the public market price, which is determined through data that is captured on multiple different sale/resale sites such as: Chrono24 or EBay which are two of the top destinations for selling and reselling watches.
The Grey Market can be a godsend for you or if you are dealing with the wrong seller it could make your life hell. The beauty of the Grey Market is something you have to find and when you find it; you’ll never go back to sitting on waitlists again.
Speaking of waitlists! That is one of the huge benefits of buying on the Grey Market… at least you know you will get what you’re looking for in this lifetime! But seriously, why would you wait for an Authorized Dealer(AD) to decide you are ready for your piece when only you know when you’re ready? Or you could always just pester the living sh*t out of your AD for a couple months in hopes that they don’t try and offload some overstock on to you. On the Grey Market… what you see is what you get. Because Grey Market dealers deal with uncertainty and distrust from buyers upfront, they tend to be much more transparent than your average AD. While this may not always be the case, a good Grey Market dealer can do more for you than most AD’s. (Check out Noam Jewelers for your watch needs)
Another great thing about the Grey Market is the market itself. Think of it like the luxury car market. Say you bought a 2023 Rolls Royce Cullinan brand new at the time and maybe you keep it for 6 months because you’ve decided to get into a new Lamborghini Urus 2023. You already own two cars and the Rolls was not your daily driver so let’s say you only put 1200 miles on it. You want to trade it in to the dealership but a private luxury dealer offers you 15% more to trade in with them. Not only that! They also have the Urus you’re looking for with only 700 miles on it for a better price than the dealership. Why would you pay a higher price for the same car? Furthermore, why would you trade in your current vehicle for less value? Odds are you wouldn’t, you would most likely take the best offer right? Well the Grey Market is exactly alike just with watches.
Which leads me to my next point… You will never be able to find everything you could find on the Grey Market with AD’s. The Grey Market is set up so that anyone can find anything. Certain things your AD’s would never even have access to are readily available on the Grey Market. Do keep in mind however, with scarcity comes cost. And market prices do not lie, a rare piece is likely bound to become more so and thus can become more costly over time.
Finally, one of the most important if not the most important reason to support the Grey Market is to avoid price hikes. At times, retail prices for watches can be completely unrealistic or sometimes just slightly too pricey. A large portion of the time that price is based on nothing other than the dealer. Sure everyone wants that AD experience and some even need it but keep in mind it is nothing more than an opener that prefaces the true star of the show: the watch!
When buying on the Grey Market be sure to be vigilant about gathering the necessary information needed to make your purchase. Be firm but also understanding of the market and if you want to buy from a reputable source check out Noam Jewelers! We are happy to help with whatever you may need!
