IWC First Time Buyer - Intro and Advice Appreciated

[hamdel]

Hello! I'm new here. A bit about me - young practicing attorney, new to the world of watches living on the east coast in the U.S. This forum has been helpful to read in order to get more familiar with watches, and I'm very happy to have an account now.

I've been looking for a nicer watch than what I have for a few months now, and I came upon the IWC Portofino Chronograph style no. 3910 with a black face and black alligator band. I think this is the watch for me. I love everything about it. You can see it here: IWC Schaffhausen | Fine Timepieces From Switzerland | Collection | Portofino Family | Portofino Chronograph. It's pretty solidly in my price range, and it matches my style perfectly.

As a first time luxury watch buyer, I get a little bit nervous making this purchase. I have done my research and it seems like the watch has a good movement and that IWC has a great reputation. However, I've also seen online that the sticker price for these types of watches is not the price one should actually pay when purchasing. I tried on the watch at my local jeweler, but he seemed a bit gruff and I didn't broach the issue of price with him. How do you start negotiating, and what price do you think I should pay for this watch?

I'm also thinking about maybe waiting until I get my bonus for the year before purchasing. How long do these styles typically last for? If I wait for a year, will this model be gone? I will pull the trigger now if I need to, but if I can wait until bonus time I would prefer to.

Thanks in advance for help, looking forward to your responses.

[stuffler,mike]

Post moved to the IWC Forum

[Formerguide]

Firstly, welcome! As they say, pull up the proverbial chair and stay awhile.

IWC is a wonderful watch. The Portifino line is meant to be the sportier alternative to the Portuguese line, which I personally have my eye on at the moment. The Portofino line should be around for quite some time. It is a stalwart in the IWC lineup, next year it will still be available I would imagine. Also, if it is better for you to wait for your bonus, I HIGHLY recommend doing so. These things we buy are best purchased when convenient, I for one have been simply spending my expense checks and small bonuses when I am able.

As far as where/how to buy, please do a search on here for AD vs Gray Market (online) purchases. For me, on a watch of that caliber, I personally would/will only buy direct from a B&M AD. You get the benefit of knowing it is new, you get the MANUFACTURER'S warranty, which to me alone is worth the additional expense. As far as negotiating, build up a rapport with an AD that you like and who answers your questions and is helpful. Whatever discount you can both agree upon should be viewed as the cost for buying from an AD (others on here may vigorously disagree with me on this.) But I for one can't envision spending upwards of 5 figures on a watch without having it in hand.

Regardless, good luck, be sure to post some pics when you do get it!

Dan

[Rjlaero1]

The porto chrono was just updated last year. I doubt it going to be tweaked much in the coming years. IWC seems to move slow with all new designs.

That watch will look great 10 years down the road. It's one of my favorite watches by IWC. I can't find many better looking chronos on the market.

And it's 1/2 the cost of a Portuguese date model.

The black face with the mesh band is indeed sublime with how good it looks.

[hamdel]

Thanks very much for the comments, really appreciate them. I love the watch for its classic looks that Rjlaero alluded to, and I think I will have it for a very long time when I get it. I definitely want to go through an authorized dealer. Thank you for pointing out the warranty difference, Formerguide, I think that seals it for me. Do you find that authorized dealers will negotiate as well? How do you usually open that conversation?

[leongkc]

I own the silver dial version of this and is my first IWC watch. This watch gets noticed as I've received compliments.

However, being a semi movement snob, I had some apprehension purchasing an ETA based watch at this price level. However, the design and detail that goes into the rest of it is exceptional. You don't wear a watch on the reverse, and 99% of the people will appreciate the finer external details, as your watch is ultimately a piece of jewellery. I would say the latest portofino chrono is something Tag wished they had designed for their Carrera range.

As for dealing with an AD, and it varies location by location. Ultimately, if you show a very keen interest, just pop the question..."What's the discount for this like?"
Another way to approach it is if you've friends who are WIS. They usually have an AD to work with to get these discounts. In turn, the AD will hope these people will introduce more buyers to them.

[hamdel]

Leongkc - that's interesting, thanks. Can you explain a little about movements? I read about it everywhere, but I am having trouble getting a handle on what I should be looking for. I currently am not even completely sure what people mean when they talk about movements. Does the movement encompass all of the innards of the watch, or is it just a specific part of it? Is an ETA movement bad? What do people mean when they talk about semi movements? Sorry for all the questions, but I'm just beginning to learn. All I know is that I think this is a beautiful watch, and I'm very glad to hear that you are so happy with yours.

[Redemption]

Thanks very much for the comments, really appreciate them. I love the watch for its classic looks that Rjlaero alluded to, and I think I will have it for a very long time when I get it. I definitely want to go through an authorized dealer. Thank you for pointing out the warranty difference, Formerguide, I think that seals it for me. Do you find that authorized dealers will negotiate as well? How do you usually open that conversation?

Straight up just say, 'what kind of discount can you offer?'

If you are serious about the purcahse then you have the power to negotiate. Also, try and leave your purchase till the end of the month when they are trying to make their final sales for that month. This can often shave off a couple hundred extra bucks.

Aim for 25% off the retail price but anything around 20% is pretty good. Never pay sticker price, always ask for a discount as they will generally give you one without a fuss.

[leongkc]

All I know is that I think this is a beautiful watch

This is all that matters....really!

ETA movements are not bad. They are excellent movements actually. The difference is that people view ETA based movements as something that is mass market, while an in-house movement is developed and manufactured by the watchmaker end to end. Having the latter of course entails paying a premium for that 'exclusivity'. A good example would be the Portuguese Automatic (5001).

That being said, Seiko is probably the few who makes everything inhouse from the cheapest mechanical to the Grand Seikos.

Some nice leisure reading on this thread: IWC/ETA

[hamdel]

This is all that matters....really!

ETA movements are not bad. They are excellent movements actually. The difference is that people view ETA based movements as something that is mass market, while an in-house movement is developed and manufactured by the watchmaker end to end. Having the latter of course entails paying a premium for that 'exclusivity'. A good example would be the Portuguese Automatic (5001).

That being said, Seiko is probably the few who makes everything inhouse from the cheapest mechanical to the Grand Seikos.

Some nice leisure reading on this thread: IWC/ETA

Very interesting, thank you for that! The Wikipedia article on movements was informative, but this really explains the relationship between the movement manufacturer and IWC. Great to know.

Redemption, thank you also for your advice. I'll try and start at about 27% off and see where I can get.