Insurance question!

[wishinpink]

I don''t know if this is the right forum to be posting in:

Say I want to buy a brand name diamond watch, and I can either buy it from a authorized retailer for more money or from a place like certified watch store. com which is not authorized for much cheaper, which would you choose? Not buying the watch from an authorized retailer voids the warranty. But all the warranty covers is defects- not from damages I could inflict myself on the watch.

Should I buy the watch from the non authorized retailer, get it appraised and get it insured at jeweler''s mutual? Wouldn''t that be better than having a warranty since the insurance on the watch would cover for more possible damages and so I don''t need to buy it from an authorized retailer?

Would love someone''s help!

 

[Lorelei]

Date: 4/13/2010 9:48:42 AM
Author:rosebud10
I don''t know if this is the right forum to be posting in:

Say I want to buy a brand name diamond watch, and I can either buy it from a authorized retailer for more money or from a place like certified watch store. com which is not authorized for much cheaper, which would you choose? Not buying the watch from an authorized retailer voids the warranty. But all the warranty covers is defects- not from damages I could inflict myself on the watch.

Should I buy the watch from the non authorized retailer, get it appraised and get it insured at jeweler''s mutual? Wouldn''t that be better than having a warranty since the insurance on the watch would cover for more possible damages and so I don''t need to buy it from an authorized retailer?

Would love someone''s help!

Hi rosebud,

I would say to purchase from an authorized dealer, I know it is rare that a high end watch can go wrong but it did happen to me and I am very relieved I purchased from an AD. The chances of you damaging the mechanics yourself are slim and if something did go wrong down the line then you have peace of mind if you purchased from an AD.

 

[Dancing Fire]

Date: 4/13/2010 9:48:42 AM
Author:rosebud10
I don't know if this is the right forum to be posting in:

Say I want to buy a brand name diamond watch, and I can either buy it from a authorized retailer for more money or from a place like certified watch store. com which is not authorized for much cheaper, which would you choose? Not buying the watch from an authorized retailer voids the warranty. But all the warranty covers is defects- not from damages I could inflict myself on the watch.

Should I buy the watch from the non authorized retailer, get it appraised and get it insured at jeweler's mutual? Wouldn't that be better than having a warranty since the insurance on the watch would cover for more possible damages and so I don't need to buy it from an authorized retailer?

Would love someone's help!

RB 10
depends, i bought my Lange and my Rolex from UNauthorized dealers but was cover with a factory warranty b/c the warranty cards were stamped by an authorized dealer. don't forget...these grey market watches came from an authorized dealer somewhere.

what brand are you looking at? how much will you be saving buying from an UNauthorized dealer?

 

[wishinpink]

It''s a Tag Heuer Watch.

I could buy it from Amazon at $1260 or I could buy it from the unauthorized retailer- certified watch store for $988.

http://www.resellerratings.com/store/Certified_Watch_Store The unauthorized retailer store has good ratings it looks like


I understand that if the watch breaks down I can''t get it warrantied- but the warranty only covers if the watch stops working anyway, not if I smash it or if I lose it. Versus, if I get it for cheaper- the $272 I save from not buying it from Amazon would be able to pay for the watch to be appraised and insured at Jeweler''s Mutual, and that insures from loss and theft as well as damage.

The question I am asking is if I am overlooking something in this scenario I have just spelled out or if it is indeed the wiser choice than buying it for more expensive with the warranty?

Does insurance with Jeweler''s Mutual trump warranty?

 

[Dancing Fire]

have you check Costco to see if they carry that model?

 

[wishinpink]

Date: 4/13/2010 3:55:55 PM
Author: Dancing Fire
have you check Costco to see if they carry that model?

I checked costco.com and they don''t have tag heuer watches as far as I can see?

Does my insurance method not make sense?

 

[denverappraiser]

Date: 4/13/2010 9:48:42 AM
Author:rosebud10
I don''t know if this is the right forum to be posting in:


Say I want to buy a brand name diamond watch, and I can either buy it from a authorized retailer for more money or from a place like certified watch store. com which is not authorized for much cheaper, which would you choose? Not buying the watch from an authorized retailer voids the warranty. But all the warranty covers is defects- not from damages I could inflict myself on the watch.


Should I buy the watch from the non authorized retailer, get it appraised and get it insured at jeweler''s mutual? Wouldn''t that be better than having a warranty since the insurance on the watch would cover for more possible damages and so I don''t need to buy it from an authorized retailer?


Would love someone''s help!

I think you’ll find that the perils covered by Jewelers Mutual are rather different from those that are covered under a manufacturers warranty. I would not expect JM to cover it if the watch failed due to mechanical trouble and I would not expect Tag to cover it under their warranty if it was stolen or burned up in a fire for example.

Buying from an authorized dealer is usually a way to guarantee that what you''re receiving is a genuine article, that it''s new and that it''s not some form of factory second. These are not important topics for every customer but for some they are big deals.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

 

[Dancing Fire]

Date: 4/14/2010 3:07:25 PM
Author: rosebud10

Date: 4/13/2010 3:55:55 PM
Author: Dancing Fire
have you check Costco to see if they carry that model?

I checked costco.com and they don''t have tag heuer watches as far as I can see?

humm...there are a few Tags at our local Costco.