When it comes to buying luxury timepieces, very few watches are as expensive as a Richard Mille for sale. A Richard Mille watch represents the pinnacle of luxury watchmaking. One of the most expensive watches in the world is the Richard Mille.
But each comes at a high price tag that can only be afforded by the wealthy and influential. In fact, the common complaint (and typically the only complaint) people have about Richard Mille watches is how expensive they can be.
But a Richard Mille watch is worth every penny. These are meticulously crafted timepieces made from cutting-edge edge materials with intricate complications. These factors, coupled with the brand’s reputation and the rarity of individual pieces, account for the high price tag of RM watches.
Despite the high cost of buying a Richard Mille timepiece, it’s still normal to want a good deal on your purchase. Even if you’ll only save a few hundred dollars on your purchase, It feels nice to walk away with a timepiece that costs slightly less than the asking price.
The truth is, most RM watch dealers expect you to negotiate. However, how much you’ll be able to shave off the sales price of the piece depends largely on how good your negotiation skills are. In this post, we’ll explore some basic tips that you’ll find very helpful in negotiating prices for a Richard Mille for sale.
Research
The first step in buying anything is to find out how much it costs. This is particularly true for the ever-complicated luxury timepiece market. Before you talk to a dealer, you need to learn as much as possible about Richard Mille timepieces and find an approved dealer in your location.
In most cases, you’ll probably have a specific timepiece you want to purchase in mind already. It makes sense to reach out for this specific watch (or watches) before you make contact with a dealer. If you’re rich enough to purchase any Richard Mille watch regardless of the price, and you don’t intend to negotiate, then you can simply walk into a boutique to make your request. However, if you’re looking for a good deal, then research is a necessary step.
By focusing on a specific Richard Mille for sale, you can learn about the current range of the market price. This will help guide your negotiation with the dealer so you don’t make a lowball offer or pay higher than you should. It also helps to see what other dealers around you are offering for the same timepiece. This way, you’ll be buying from a dealer that offers the best deal you can get.
If you have decided to buy from a specific dealer, take the time to learn as much as you can about them. The information you discover during your research can be valuable in your negotiations.
Build Value
RM watches are always in high demand. The watchmaker only makes about 5,000 watches yearly, and individual dealers only get a few copies of these at any point in time. Your chances of getting a good deal or even finding the timepiece you want at all may depend on how much value you have built with the dealer.
Bear in mind that there’s almost always a waitlist, especially for the most popular RM watches. It’s hard to negotiate a good deal when several other people are waiting to get their hands on the same piece. It’s even harder if you’re buying a luxury watch for the first time. Authorized dealers will typically prioritize buyers who can demonstrate their seriousness and willingness to make a purchase.
A good way to do this is to approach each deal as meticulously as possible. Here are a few tips you’ll find helpful:
- By formal and courteous with your first contact
- Don’t just jump straight to negotiating pricing: it helps if you can at least talk about the Richard Mille timepiece you want to buy. Introduce yourself and ask questions about the specs of the watch. You can even ask the buyer for recommendations based on your needs.
- Tell the buyer why you need the timepiece: people have different motivations for buying a timepiece. Telling the buyer your reason for purchasing a timepiece will demonstrate why you should be taken seriously and make them sympathetic toward you when you start negotiating the price.
- Demonstrate some knowledge: as mentioned earlier, you should research the timepiece you intend to buy before you start talking to the dealer. This way, you’ll have things to talk about when you eventually open conversations. Your negotiations won’t get very far if the only thing you get to talk about with the dealer is the price.
- Show that you value the dealer’s time and expertise: authorized dealers are professionals in their own right. It takes years to master the watch market, know the specs and features of each watch, research, and get the inventories they’re selling. The least you can do is to build a rapport. They won’t just accept to lower their price to the lowest offer just because you’re ready to make a purchase right away.
Lead the Negotiation
Most sellers will ask you to make them an offer or tell them what your budget is. If you have decided on a Richard Mille timepiece already, make sure you make an offer that isn’t too far from the asking price.
One common mistake buyers make in negotiating pricing is to make a low-ball offer with the hope that the dealer will meet them halfway. This isn’t going to happen with a Richard Mille timepiece. The best you can do is make an offer that’s just a few hundred dollars short of the selling price.
If you’re simply stating your budget and you don’t have a specific watch in mind, you can let the seller know this so they can offer recommendations within your budget range. This is another reason why doing your research well ahead of time is important. You’ll be able to tell if the dealer’s recommendation is within your budget range and if the Richard Mille timepiece being recommended is something you’ll like.
Leverage Emotions
Negotiating a deal is always going to be an emotional affair both for the buyer and the seller. To get the best deal, you should figure out how to leverage the seller’s emotions to your benefit. Avoid using trigger words that can make the dealer angry or make them think you’re unserious. Instead, you want to make them feel respected and valued.
For instance, if the dealer’s price for the Richard Mille watch seems to be higher than that of their competitors, you don’t want to simply throw this at them with the hope that it’ll help you get a better deal. Instead, simply acknowledge the price difference and let them know you understand why theirs might be priced higher than the alternatives. This way, they don’t feel attacked by your attempt at a price comparison. You can then leverage this to make your own offer.
You can also offer the dealer something in return for the price slash. This may include offering them a review or referral. Even if the answer to this is no, it shows you’re not just asking for a price slash for nothing, but you’re willing to offer some value in return.
Consider Alternatives
Sometimes, a good deal doesn’t have to be in the form of an outright price slash. Sometimes, getting a good deal could also mean finding a good Richard Mille timepiece within your budget. One way to get something like this is to be willing to consider alternatives within your budget.
For instance, for every Richard Mille model, there will always be different variations that come at various price points. Sometimes, changing your choice of casing material from precious metals like rose gold to alternatives like titanium can make a world of difference in the pricing. Also, the complexity of watch movements and the type of complication can affect the price of the timepiece.
If you’re willing to make concessions with all of these, you can simply ask the seller for recommendations within your budget and negotiate within this range instead of trying to beat the price down unnecessarily. Understanding the differences between the different Richard Mille variants will help you find a watch that aligns perfectly with your budget and preferences.
Conclusion
Within the watch industry, Richard Mille had managed to carve a niche for itself as a luxurious timepiece synonymous with high-end pricing. However, with the right negotiation skills, you can still walk away from your Richard Mille dealer feeling like you’ve made a good deal. The trick is to do your research beforehand, build rapport with the vendor, and approach the negotiations with an open mind.