The Richard Mille RM 037 is an elegant ladies' watch that seamlessly blends high-end functionality with a distinctive style. Expectedly, this timepiece does not come cheap, which isn’t surprising for such an iconic Richard Mille Wristwatch. The relatively young watchmaker sells some of the most expensive watches in the horological market.
Pricing for the different models of this watch varies from about $155,000 to over $350,000. Such a high price tag sounds just about right for a luxury sports watch with such an intricate design and groundbreaking technology.
The high demand and relative scarcity of Richard Mille watches can make it difficult to get a good deal from official dealers or retailers. When it comes to the luxury goods market, prices are often fixed, with very little room for negotiation. Still, there’s nothing wrong in trying to beat down the price even if it's by a few hundred dollars.
Whether you’re buying online or you walk into a boutique to make a purchase, dealers know you’ll try to negotiate a favorable deal on your purchase, which is why they’ll often leave a bit of wiggle room in terms of pricing.
How much of a discount you’ll get depends on your approach and overall negotiation skills. Saying the wrong things can screw up your chances of getting a discount from the very beginning. In this post, we’ll explore some basic tips that can help you negotiate a good deal for a Richard Mille RM 037 watch.
One of the first things to do before buying a luxury timepiece is to do your own research. This involves researching the current market value of the specific RM 037 wristwatch you're interested in and also searching around for dealers and retailers that offer the best deal around. In your research, factor in things like the specific model, condition of the watch (whether it's new or pre-owned) and current market conditions and so on.
If you find the RM 037 model you’re interested in on a dealer’s website or store, you should search around to know how the watch is priced on other sites or stores. This way, you’re sure the dealer you’re buying from is offering the best deal possible. In cases where the dealer’s timepiece is priced higher compared to others in the market, doing your own research will give you insight into how to approach negotiations.
Finally, research the dealer thoroughly before you start negotiating. From your research, you may discover information that can give you some leverage during negotiations. For instance, if your research shows that the watch has been for sale for a while, you can mention this as a potential positive of selling to you at a lower price. In summary, take some time to do your research and arm yourself with some information so you can negotiate a good deal effectively.
In the luxury watch market, dealers prefer to sell to serious buyers and watch enthusiasts. This is one of the most basic negotiation lessons you’ll have to learn if you’re trying to get a highly sought-after piece like an RM 037. The waitlist in the luxury timepiece market isn’t a literal long list of buyers arranged on a first-come-first-serve basis. Authorized dealers typically prioritize buyers who have shown some level of seriousness and interest in the timepiece.
This is an important lesson to keep in mind when negotiating a deal as well. The last thing you want to do is randomly drop into a dealer’s DM with messages like “What’s the lowest cash you’ll take for a RM 037?” or “How much to let it go today?” While you may think you’re creating a sense of urgency with messages like this, dealers prefer to negotiate with people who have built some level of rapport first.
When you’re reaching out to a dealer for the first time, you should start by introducing yourself so they’ll at least know who they’re doing business with. Then you can proceed to mention the specific watch you’re interested in. It helps if you can explain the specific reason why you want a Richard Mille 037. It could be because you simply want it for your personal collection or how it aligns with your style. Pretty much any interesting information about your reasons for making that choice will make you sound a little more interesting to the dealer than an average person making inquiries. It also shows that you’re serious about making a purchase, which makes them more open to negotiating.
You can ask the dealer some questions about the watch and if you’re not hell-bent on buying an RM 037, you can ask for other recommendations. A little bit of back and forth between you and the dealer helps to establish some rapport before you even start discussing the price. Once you both get comfortable with each other, it’s easier to negotiate the price.
Dealers are hounded daily by potential customers offering lowball offers, time wasters and people trying to negotiate better prices by complaining about the quoted prices of the watch. You don’t want to be one of these people. To get a good deal, you have to approach your negotiations strategically.
As mentioned above, don’t jump straight into negotiation mode. Discussing the Richard Mille RM 037 price should be the final stage of your conversation. Once you have built enough rapport, then you can proceed to discuss the subject of pricing.
If you think the dealer’s RM 037 is priced extremely well or a little higher than what your research shows, mention this at the start of the negotiation. If he’s on the higher side, show some evidence for this. It shows you’ve done your research and gives you some credibility when you make your offer.
Always start your negotiations with a fair offer. Remember that there’s barely any wiggle room for negotiation in the luxury watch market. You’ll probably not shave off thousands of dollars from the deal no matter how good your negotiation skills are. Make an offer that shows you value the dealer’s expertise instead of throwing a ridiculous price with the hope of getting them to meet you somewhere in the middle.
One of the common rookie mistakes in negotiating watch prices is to try to entice the dealer with favors. For instance, some buyers say things like “If you give me a good deal on this one, I’ll definitely be back for more” or “I’m a huge collector and I buy hundreds of watches”.
The truth is dealers want new business and they love the idea of loyal clients that’ll buy more or tell others about their business. But you can’t get their attention by making outlandish promises. It just makes you sound like a fraud trying to trick them for a good deal.
Instead, make a genuine offer that gives true value to their business. For example, you may offer to leave a review for the business on whatever platform it helps them the most. This is a simple enough promise that is still helpful to the dealer. A small step like this can go a long way in building a solid rapport with the dealer that pays off over time.
Plus you don’t even have to wait till you get a good deal before doing such small favors. You can even begin this process even before you are actually ready to buy. For instance, you can refer friends who are ready to buy right away to the seller or engage with his business pages, share his posts or leave a review based on your initial interaction with them. Most dealers will appreciate this, and such simple gestures can help you get a good deal when you’re ready to buy. Just make sure you’re clear and upfront about your intentions from the onset.
Also, a good deal isn’t always about the pricing. Extra perks such as a complete set with a box and papers add to the value of a luxury watch purchase. If a dealer offers some extra benefits like this, you may factor it into your negotiations and go for good offers like these.
If you follow these tips, you should be able to negotiate a good deal on your RM 037 purchase. But bear in mind that Richard Mille is a luxury brand and the RM 037 is highly in demand. It may take some time and effort to build a reasonable level of rapport that’ll help you negotiate a good deal. And even with that, there are no guarantees. Don't be afraid to walk away if you can't reach a favorable agreement with the dealer. There will always be other opportunities to find an RM 037 at the right price.