THE JOURNAL

Is it cheaper to buy watches in Europe?

News centrePublished 2014-04-11

Europe is a region rich in luxury goods, with many familiar luxury brands originating there. If France and Italy are paradises for clothing and leather goods, then Switzerland and Germany are the homelands of watchmaking. When travelling to Europe to purchase a watch, visiting countries neighbouring Switzerland can also be a great way to secure the best discounts.

Is it cheaper to buy watches in Europe? Naturally, depending on the region and the price point of the watch, buying in Europe can be either cheaper or more expensive. However, compared to buying domestically, there are significant advantages regarding discounts and customs duties. For example, goods produced in China, while not expensive, become more costly in Europe due to logistics and import duties. Conversely, within Europe, there is free trade with no customs duties, making it more cost-effective to purchase locally produced goods.

So, how can you get the best price? First, consider the list price, which is the uniform price of the item in that country. In reality, the list prices across Europe are essentially the same. Theoretically, once you account for exchange rates, the price is uniform throughout Europe. The perception that prices differ is usually due to exchange rate fluctuations after the price is set. Therefore, to get a better deal in Europe, look for currencies that are relatively weaker. Secondly, consider discounts. When buying a watch in Europe, if your language skills are limited and you immediately ask for the lowest price, you generally won't get a good deal. Engaging in conversation and building rapport usually leads to a much better price. While it may not match what a regular customer gets, it is definitely significantly cheaper than domestic prices and offers many advantages over markets like Hong Kong or Japan.

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