BUYING A WATCH INEXPENSIVELY 
IN GENEVE, SWITZERLAND

by Watchking

There are so many competent watchmakers who clean, service and lubricate watches in Geneve that I find the quality of used watches astoundingly high. Speaking French is a big help.   If not, you will be restricted to a much smaller group of retailers who can help you.  I have only been to Geneve for a total of 18 months in the last 15 years and things do change. The first and absolutely best deals are to be found through a trustees sale.  Huge discounts off of the Swiss pricing is only allowed under one condition;  the prices are not put in the store windows and these circumstances only last for 30 days total.  

The good thing is that these trustee/store closure sales usually go on between January 25th and April 25 of each year. It requires registration with the city of Geneve and then for this one 30 day period watches like Rolexes (and I've also seen Vacheron and Maurice Lacroix) can be sold at 40% off the Swiss retail prices. There is a refundable Value added tax which you apply for at the airport when you leave the country or at any of the customs bureaus if you drive out.  This 7% tax is usually only available if it reaches some minimum amount like 200 Swiss Francs (US$120., this always seems to change).  

The Geneve price is often as much as 40% cheaper than the USA retail price and more if the model sells for more than retail. I've seen a typical Patek Philippe Nautilus which sells in the USA for $18,000 going for 12,000 Swiss Francs (approx. US$7,000) in Patek Philippe's own store across the Rue de Rhone from Bucherer (a good place to visit too - see further).  

A bit of checking with taxi drivers (French is a must) can get you to a trustee sale if one is going on.  Bring cash and pick your watch one day, showing a serious interest. Tell the trustee that you will bring the money the next day if the right deal can be struck.

Take as much time as possible and notice everything.  You may find that one model doesn't have exactly the numerals you want, another has a dial color which isn't exactly right, etc.  If you are lucky enough to visit during the last week of the sale you will be astounded by the deals available.  These will almost always be new watches with full international warranty.  

There are almost never deals like this on Patek because they will always take all their watches back for their own inventory.   But a trustee that is closing a store will take dealer cost + 10% if possible to pay a store's debts.  Also try the stores in Lausanne and Montreux before you go to a more expensive way to purchase your watch. If a closing sale isn't possible then there are other options.  

Bucherer often has watches that they took deposits on and then the customer returned to their country of origin without taking the watch.  I've found good deals on these before.  Also there are such things as Omega Chronometer overstock sales which go to dealers like Bucherer.  Incredible prices can happen then too.  

For used watches go to the flea market on Saturday morning (biggest) and Wednesday morning on the Plain Palais.  There are many watch factory employees at these flea markets as well as a few dealers who sell used high-grade watches cheap.  Dealers from foreign countries often go to these flea markets and buy up everything so there is a price below which deals cannot be made.  There are two very interesting dealers in Geneve who can "get" almost anything from other dealers. 

One is Hartmann's near the Vieux Ville (old city), another is across from the main square where tourist buses park in downtown behind and across from a large sewing machine shop (sorry I go their from memory and don't know the name or address but they are now Zodiac dealers and they have a watch repair shop which is visible through a large window from the street).  The last dealer is across the trolley car station about ½ km. to the right of the main doors of the downtown Geneve train station.  I know this doesn't sound like a feasible set of directions but by heading for the bridge across the Rhone from the train station you will see this shop off to the right.  

Dealers who trans-ship need a bit of time. I usually pay about 1/2 the cost of the best deals my Canadian friends can squeeze retailers for in Montreal, Toronto or Vancouver. It used to be well publicized by some Geneve retailers that an American or Canadian could fly to Geneve, buy a 2 tone, stay a week and fly back while saving $500 off the price they would have paid on the watch in North America.

  Bon Voyage