Goldsmiths Offer

[Barryboy]

Hi... If of any interest Goldsmith are doing a 15% discount offer until the end of the month.. and a 20% offer for NHS staff

Voucher code is VCUK15PJW2TJRCD for the 15% offer - you have to apply for the NHS offer

Not sure if this would apply to Rolex..... perhaps not?? hehehe

Rob

[Scepticalist]

All offers exclude price matched items, exclusive items, "Smart/Connected Watches" and the following brands: Rolex, IWC, Cartier, Tudor, Bremont, Hublot, Breitling, Omega, TAG Heuer, Panerai, Patek Philippe, Piaget, Jaeger-LeCoultre, Vacheron Constantin, Grand Seiko, Seiko, Seiko Presage, Gucci, Mappin & Webb, Zenith, DOXA, BIRKS, Fope, Messika, Roberto Coin, Susan Caplan, Vintage Jewellery, Pre-owned Jewellery, Pre-owned Watches, and Gift Cards unless specified otherwise. Additional exclusions may apply.

[animalone]

Would have been quicker to list what is included ^^^^^^

[Christian]

Would have been quicker to list what is included ^^^^^^

Yes, much easier to say "Offer available on all overpriced jewellery and diamonds (the stuff we have an 80% markup on)."

(No offense OP, thanks for pointing out the deal...I've just noticed that a lot of Goldsmiths/EJ/WoS deals tend to exclude most luxury watches)

[Scepticalist]

Interestingly, it does work on GO - if I hadn't just lashed out on a SD I might have been tempted -= 20% off a Panomatic Lunar ot Original Seventies.....

[noTAGlove]

Yes, much easier to say "Offer available on all overpriced jewellery and diamonds (the stuff we have an 80% markup on)."

(No offense OP, thanks for pointing out the deal...I've just noticed that a lot of Goldsmiths/EJ/WoS deals tend to exclude most luxury watches)

You don’t think watches have an 80% mark up on them.

[Christian]

You don’t think watches have an 80% mark up on them.

Someone might correct me but I believe the dealers generally get luxury branded watches in for between 55-60% of the RRP. I'm sure someone on here told me that about Omega. ie a £1000 watch cost price to the dealer is somewhere between £550-£600.

I suspect the markup on jewellery, particularly the company branded stuff is much higher which is why the discount codes always seem to work on those but are generally excluded from luxury watches.

[noTAGlove]

Oris, Bremont & Longines are included, to name but three.

[Dave+63]

Someone might correct me but I believe the dealers generally get luxury branded watches in for between 55-60% of the RRP. I'm sure someone on here told me that about Omega. ie a £1000 watch cost price to the dealer is somewhere between £550-£600.

I suspect the markup on jewellery, particularly the company branded stuff is much higher which is why the discount codes always seem to work on those but are generally excluded from luxury watches.

A £1000 RRP watch at £550 wholesale is an 81.8% mark up but 45% margin.

[noTAGlove]

Someone might correct me but I believe the dealers generally get luxury branded watches in for between 55-60% of the RRP. I'm sure someone on here told me that about Omega. ie a £1000 watch cost price to the dealer is somewhere between £550-£600.

Take Christopher Ward. They sell only online and publicly state they mark up by a factor of 3. So take one of their C60 Trident Pro watches at £845, that makes the manufacturing cost around £280.

That’s for a Sellita Swiss movement, sapphire, lumed ceramic bezel, adjustable bracelet etc.; pretty much equivalent to, or exceeding the specs of watches in the £1500 to £2000 price range of other watches.

So, the £2k watch you buy to put on your wrist will probably cost under £300 to manufacture. And it could be less with the economy of scale of some brands.

I can easily see markup of 80% on many retail markups on many watches, with the manufacturer still making a very good margin.

[Christian]

A £1000 RRP watch at £550 wholesale is an 81.8% mark up but 45% margin.

Yeah, original post should have said higher percentage!

[Christian]

Take Christopher Ward. They sell only online and publicly state they mark up by a factor of 3. So take one of their C60 Trident Pro watches at £845, that makes the manufacturing cost around £280.

That’s for a Sellita Swiss movement, sapphire, lumed ceramic bezel, adjustable bracelet etc.; pretty much equivalent to, or exceeding the specs of watches in the £1500 to £2000 price range of other watches.

So, the £2k watch you buy to put on your wrist will probably cost under £300 to manufacture. And it could be less with the economy of scale of some brands.

I can easily see markup of 80% on many retail markups on many watches, with the manufacturer still making a very good margin.

Agree - I’ve been mixing markup with dealer margin percentages. I’ve always assumed markup/margin is much larger on diamonds and jewellery for an AD than for watches, which was why often the deal codes nearly always work on rings and necklaces but not on branded watches like Omega, Tudor and Rolex etc.

[noms2000]

Interesting, I have tried both codes (the 15%, and the NHS 20%), and neither of them working when ordering a Tudor.

[jaytip]

Agree - I’ve been mixing markup with dealer margin percentages. I’ve always assumed markup/margin is much larger on diamonds and jewellery for an AD than for watches, which was why often the deal codes nearly always work on rings and necklaces but not on branded watches like Omega, Tudor and Rolex etc.

I would think it’s more to do with those brands not allowing it to protect their image possibly?

[Christian]

I would think it’s more to do with those brands not allowing it to protect their image possibly?

Yes, could be right. I once asked for a discount on an Omega at EJ and the sales assistant told me she was unable to do this outside of any sales sanctioned by head office.

Trouble a lot of the time is working out whether you are being told the truth or not!

[noTAGlove]

Interesting, I have tried both codes (the 15%, and the NHS 20%), and neither of them working when ordering a Tudor.

See post #2

[Yorkshiremadmick]

See post #2

And post #8


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