Wednesday, December 1, 2010

Does it make sense to buy it here?

The other day, an uncle of mine called up and asked me regarding an ad for a Rolex watch in one of the newspapers. He wanted to know the price and some info on the model. When I had a look, it was an ad for a Rolex Day-Date 118238 (with the President bracelet). Absolutely stunning!!
(pic not mine)

I had no idea of the exact price, so I called up an AD in the city. He quoted Rs. 1292000 ($28482) with the President bracelet and Rs. 1220800 ($26952) with the Oyster bracelet. I am always tempted to compare prices here and abroad, so I compared the Indian prices with the ones in the US and Europe, which are as follows:
US prices:
With President bracelet - $26400 ~ Rs. 1198032 (diff=Rs. 93968 or $2082)
With Oyster bracelet - $24950 ~ Rs. 1132330 (diff=Rs. 88470 or $2002)

European prices:
With President bracelet - € 20715 ~ Rs. 1231958 (diff=Rs. 60042)
With Oyster bracelet - € 19580 ~ Rs. 1164562 (diff=Rs. 56238)

I am aware that Europe has some extra taxes to be paid, but I think tourists can claim it back.

So looking at the above prices, its not just a difference of a few Rupees, its pretty significant. I can actually get return flight tickets (and maybe accommodation) to the above mentioned places and buy one there in the same amount. That way I get the watch and a short vacation too :p

I am not criticizing Rolex's pricing policies here. I am sure they have their reasons for it. However, if I had that kind of the cash to buy that watch, I think I'll consider the option of taking my short vacation :)

4 comments:

Mark said...

Great Idea. Grab a watch and have a fantastic holiday!
I would just like to add, thanks for the years entertainment. I find it so interesting to read about the daily life of a horologist in India, (a country I will visit one day.) From this Australians viewpoint, you guys rock. I love your site, your attitude and no nonsense reportage is to be admired. Keep up the great wotk. It is the festive season here, so I will take this opportunity to wish everyone a very safe and happy Christmas, (yep) and may everyone find and be able to afford their grails in the new year. Sincere thanks
regards
mark

crazyfingers said...

Hello Mark and thank you so much for those kind words! We are glad to hear that you like our blog and hope to keep your interest alive for a long time.
Wish you and your family a merry Christmas and a very happy New Year.
Best regards,
Crazyfingers and Bio

Siddharth said...

hi,

I stumbled upon your blog, which great btw, while i was searching for information on watches in the India. I have favor to ask if I may. I've been trying to find prices of a couple of Omegas in India to compare with US prices. I haven't contacted any dealers yet but i was wondering if you had any insight on Omega's pricing in India. Is it as marked up as Rolex? if so, are most swiss watches (IWC, Tag, etc.) marked up when compared to US prices?

Once again great blog. It is nice to read about the watch scene in the homeland!

Siddharth

Bio said...

Hey Siddharth,
Thanks for the kind words! As for your query regarding the prices, from what I've noticed, the prices of most watches are marked up when compared to a few other countries. This is however, for the most part, decided by the manufacturers. (I believe the best place to buy a watch is Hong Kong.) In India, Omegas (unlike Rolexes) are at par with the ones abroad. But the MSRP(Maximum suggested retail price) shouldn't be a deterrent while buying watches. You should push towards getting a good discount, which can greatly bring down the final price of the watch. To get an idea of what price you should be looking at, browse a few watch stores online and get the average price, after discount, of the watch you're interested in and then try negotiating a price close to it.
To check the MSRPs of the watches available in India, you can visit this link :http://watchesindia.blogspot.com/2010/10/finally-pricelist-in-rupees.html
Hope this helps :)