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jogesel

Exorbitant watch prices-buyer beware

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jogesel

Be careful of watch prices on BOB, always check online and at retail stores before purchasing. The prices you see on BOB are not always the best and sometimes they are extremely exorbitant. This evening I noticed a Hamilton watch for sale by one seller.

 

See listing - http://www.bidorbuy.co.za/item/118934726/Hamilton_Khaki_X_Wind_Automatic_H77616533_Mens_Watch.html.

 

The price of the watch was given as R 20 000. In the listing appears the words “save 23%” indicating that the watch is actually 23% more expensive than the listed price.

 

In response to a question by a buyer asking for the lowest price, seller replies – “it is already a reduced price from retail stores”.

 

Nothing could be further from the truth. The same watch is available online at Amazon for R 10 000 which is half of what seller is asking. Two other shops have the same watch priced at R 11 500.

 

As far as I am aware (the regulations may have changed) there are no import duties on watches and the only extra costs of buying directly online are the shipping costs and VAT of 14% when the watch lands in RSA which should be approximately R 2 000. That would amount to a total price for the watch of approximately R 12 – 14 000. Considerably less than the R 20 000 plus R 140 shipping charges which seller is asking for.

 

While I understand that sellers may have overheads and do sell to make a profit I don’t see how any seller can justify a profit of R 6 – 8 000 merely for placing an order on my behalf with a watch seller overseas. Seller provides no guarantees nor assumes any risks so it’s a quick and easy R 6 or 8 thousand profit.

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windrider

[quote=jogesel;

While I understand that sellers may have overheads and do sell to make a profit I don’t see how any seller can justify a profit of R 6 – 8 000 merely for placing an order on my behalf with a watch seller overseas. Seller provides no guarantees nor assumes any risks so it’s a quick and easy R 6 or 8 thousand profit.

 

This doesn't just apply to watches. I had noticed quite a few different categories where even the brick and mortar shops sell an item cheaper than here. It seems quite a few sellers capitalise on the ignorance of buyers. The gemstone section alone has so many stories.

It's up to the buyer to do their research before buying so they don't get caught out buying a R100 watch for R1000. You can use the forum to name the unscrupulous sellers.

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