{ "media_type": "text", "post_content": "Is jomashop legit with brand new watches and how are they so cheap?", "post_id": "61e76244d5b80c002b2867fe", "reply_count": 9, "vote_count": 2, "bowl_id": "5b99615eb4f61200140feeeb", "bowl_name": "Luxury Watches", "feed_type": "bowl" }

Is jomashop legit with brand new watches and how are they so cheap?

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Luxury watches are veblen goods. The markups are insane, we’re talking 100%+ retail markup for stainless models, and much more for precious medal models. That $10,000 SS Rolex Submariner is sold to the dealer for $5,000 and costs Rolex probably $500 to make. Unluckily for watch dealers, not all their watches sell out. When dealers get stuck with inventories of watches they will dump them on the grey market to resellers like Jomashop.

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I agree that Rolex’s bill of materials for a Sub is probably less than $500. More than that if you factor in overhead.

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They are a grey market dealer that often buy wholesale from across the world. Sometimes this does mean your warranty is only through Jomashop itself.

I’ve bought a few watches (and even some high-end fragrances) from Jomashop and never had any issues or concerns. Figure they can afford to take lower margins on account of the volume they do as a reputable online dealer.

You buy it…then they have to go steal it.

Bought a new speedy off Jomashop a couple of years ago. No issues here.

They are legit. But I don’t know that they’re that cheap—especially with Rolexes—these days.

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