Panerai at Costco

I know Costco sells some high end jewelry and watches, but I was surprised to see the price on a 1950 3 day GMT; $7,999!!

That seems to be what they are going for used? Any thoughts on buying here vs an "authorized dealer"?
Image Unavailable, Please Login

 

Seems they have been selling them for about a year now.

Various sightings and prices for different models. From 5400-13K.
https://www.google.com/search?q=Panerai+at+costco&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-USfficial&client=firefox-a

 

What's that down there under my skis? Why, IT'S A SHARK!!!

 

Grey market watches, no warranty from Panerai.... Run I say, run !

 

Really? Costco is considered Grey Market? How did they get the watches in the first place? Something is a bit fishy (no pun intended Darth) at that price...

 

I'm gonna have to wait and see if my Costco starts bringing in Panerais! They get watches from sources other than Panerai. My guess is they get them from closeouts all over the world. I did speak to the jewelry guys at Costco and they told me you get a lifetime warranty on watches. If anything should go wrong with it, they will fix it, replace it or refund your money. I was looking at a Tag Carrera Calibre 16 at that time.

 

Costco sells Tiffany too


Tiffany files suit against Costco over false engagement rings


A Tiffany & Co. has filed legal papers on February 14 over a claim that one of the Costco Wholsale Corporation locations was selling diamond engagement rings marked with "Tiffany" signage. After launching an investigation, Tiffany sustains that none of the rings were manufactured by the jewellery brand.

“Neither of the rings identified in the Huntington Beach store as ‘Tiffany’ was, in fact, a Tiffany ring, nor was it manufactured by, approved by, licensed by, or otherwise in any way properly associated with Tiffany,” according to the company’s legal papers. “Unbeknownst to Tiffany, Costco had apparently been selling different styles of rings for many years that it has falsely identified on in-store signage as ‘Tiffany.’”

The suit is seeking $2 million in damages from Costco for using the Tiffany name.

 

I wouldn't buy a watch that cost over $100 from a big-box store.

 

Saw a GMT for about 13K at my local Costco in Scottsdale. Also some Breitlings, Tags, Cartier.

 

Agree with Darth. This brand (along with all Richemont brands) has made horrible strategic decisions and has now jumped the shark

 

My AD dropped the line a few months ago.

 

my local costco (bloomfield hills, mi) has the exact same watch.
i don't think it is priced that well, however.

 

Really!? Did they give any reason? Oversaturation of the market?

 

Said they aren't selling. I think the Panerai tread might have run its course.

 

haven't seen it up there
i'll look more closely next time I'm there

 

So is it real or is it a replica ?
8k sounds good

 

My bank account sure hopes I never see a Panerai @ Costco. I always stop & look tho.

 

Since Costco is not an authorized dealer if there is any warranty issues you have to take them up with Costco. It's all about the price, if its great I wouldn't be worried about returning the watch up to two years with Costco.

 

All Richemont? I think JLC, VC, and Lange still have it.

-dsd

 

I don't disagree that product quality is still there, but the determination to shut down dealers (I even saw this in Switzerland this past summer) and vertically integrate production, distribution, and retail sales via in house boutiques is a strategy, I believe, destined to fail.

For instance, Swatch opened up a Tourbillon boutique in a huge space (they leased all four floors) of prime Michigan Ave real estate in Chicago, two blocks from a high profile Chicago dealer that carries Breguet, Blancpain, and Glasshutte. In the three months since they opened they sold all of six watches.

 

Gary, that is so interesting. We were in Chicago last month . Ran into Tourbillion to escape the wind/temp. Very nice store and staff was pleasant. I think I had 2 glasses of bubbly.
Nice presentation but who would pay $13,000 for a Glasshute?
On a side note, the Burberry store is amazing.

 

Grey market in the sense that you have no manufacture warranty, only Costco warranty and that's with most if not all their products... at least hear in Quebec, that's the way it is.

 

Well, I try to follow the panerai market at a couple of well known locations that carry them( one in NY and one in FLA) and they seem to be selling quite well. All the limited editions sell very quickly and some prices even went up. I guess it depends in demographics...

 

Just bought a PAM 24 yesterday because I couldn't resist the price.

 

Just sold a PAM 86 yesterday for $600 more than I originally paid. Cool...