7 Tips To Buy Luxury Goods At Discounted Prices [0:00:00]
I love luxury goods, but like you I hate how expensive they are.
In today’s video, we’re going to hack the system how to get luxury goods at a discounted
price.
[Music] Tip number one.
Never buy on a whim, always plan your purchases.
So, you may see what you want.
I was just at London Heathrow you know the duty free stores?
And I’m going through this watch store and there it is, the TAG Calibre 11.
This is McQueen’s, you know, watch that he wore, I mean it’s not the original one,
but it’s a remake.
Beautiful watch.
I put it on, I put it on a few other times and I’m like, oh, man, look at the price
and I didn’t do the currency conversion.
It was in pounds, I’m thinking dollars.
I’m like is that a great deal?
How do I do the conversion here?
And, you know, the woman talking me and she’s like, oh, this looks great on you.
You need to grab this.
I came so close to purchasing that watch.
Was it a good deal?
Was it?
No.
You know the point is is you need to plan it.
Sometimes it is a great deal, but make sure that you don’t fall into a sale aka trap.
You want to buy when you’re ready when it comes to luxury goods.
Tip number two.
Know what luxury is, be able to spot it, and have the courage to forego a name brand if
you could spot it maybe a lesser known brand, but it’s exactly what defines luxury.
The best craftsmen within that industry are oftentimes making that product and they’re
always using the best materials available.
But, at a certain point they start to add a lot of margin, they want to, you know, make
it so that those -- they’re getting as much as they can from it and then there were up-and-coming
companies.
So, maybe with watches, you’re all about Rolex.
Well, then, go get a Tudor and all of a sudden you start looking at the history, you realized
that actually they’re very similar that they look very similar, the quality build.
I mean it’s like all of a sudden you realize if I really want a Rolex, maybe I would actually
be happier with a Tudor and I’d be able to save thousands of dollars.
You go in and you try on a $2,000 sports jacket and you’re like, okay, I’ve touched that
beautiful material, that silk cashmere, the drape, I understand what is quality and then
you can go out and spot it.
So, really quick, let me introduce you to a luxury brand you may not have heard of and
that’s Carl Friedrik, the paid sponsor of today’s video.
And, guys, I’ve been talking about them for years.
They went out there and found amazing artisans used the best materials and created this amazing
line of bags.
All right.
So, right here we’ve got the Palissy weekender bag, absolutely beautiful in chocolate.
But, the first thing I want to look at is the zipper.
This is a Raccagni zipper.
For over thirty years, this company has been perfecting the zipper.
They’re a lot more expensive than their competitors.
These are the same zippers used on Tom Ford’s bags.
I look at the other hardware details, look at just the overall the build the detail.
I look at the actual strap right here.
They actually went above and beyond those how it rotates.
It all is very nicely polished.
Things like these show me they paid attention to the details.
Next up, let’s talk about the leather.
This is an Italian Vachetta leather.
It’s untreated, it’s very high quality, and has basically a buttery feel.
This right here is some of the highest quality leather you can find for a bag.
Next up, I want to look at the inner construction of the bag.
I want to make sure that inner lining doesn’t pull out.
I want to zip it back and forth make sure the zipper doesn’t get caught.
When I go in here, I want to make sure, okay, what did they use for hardware details on
the inside.
Did they skimp anything?
This one they actually, again, used the Raccagni zipper, very expensive.
I love the attention to detail.
And let’s talk about design, these bags are absolutely beautiful.
Whenever you use these bags, you are going to get compliments.
If you’re giving one as a gift, that person is just going to be, wow.
Guys, check out Carl Friedrik.
I’m linking to them down in the description with the best discount code you’re going
to find out there.
Use it or lose it, guys.
It’s not going to be around forever.
And with that, let’s get back into the content.
Next up, let’s talk about capsule collections.
So, not all designers do this, but you’re going to find that some higher end brands,
they’re going to have a few pieces which basically are highlights of their staples.
This is something that’s never going to go out of style they can produce in very high
volume and therefore they’re able to put it an entry level price.
So, go and look at your luxury brands, see if they have a capsule collection.
Next up, you want to check out bridge lines.
So, bridge lines are going to be basically when you take a high-end designer and they
work with somebody else.
So, you may be able to find a certain suit line, maybe even watches that normally would
be a lot more expensive.
You can find a shoe company.
I’ve seen Allen Edmonds do this with certain companies, run a limited line, all of a sudden
you’re able to get these at a very much lower price because they’re trying to get
in and they’re testing the market.
Next up, let’s talk about private sales.
So, luxury brands they don’t want everyone to know that they’re putting something on
sale, but like any other company they’ve got to move product.
So, they’re oftentimes going to do a sale, but they’re going to keep it within a particular
niche.
So, if you’re on their email list, maybe their Facebook page, their Facebook group
if it’s a smaller company.
But, you want to find how are they communicating with people and is it something they’re
going to have a sale.
If you go into a physical store, you could oftentimes ask an associate are you having
a private sale that I need to know about and believe it or not, sometimes they’re like,
yes, we are.
Private sales are out there, ask for them.
Last year’s models.
And this is why I love timeless styles because if you’re looking for a timeless blazer
or sports jacket or you’re looking for a pair of shoes which are going to last you
for five to ten years.
You don’t really care if that was last year’s design or even two years ago, you’re looking
for something that is timeless something that you’re going to be able to fit into your
interchangeable wardrobe.
[0:05:17] Purchase second hand consignment shops, thrift
stores, simply ask around.
You’d be surprised how many luxury goods out there are just sitting in people’s closets
and if they have the opportunity to offload it for a decent price, they would.
Purchase on the gray market.
Now, the gray market is not the black market.
The gray market oftentimes they are legitimate goods, but maybe they were meant to be sold
in another country.
So, what you’re going to find is if you purchase a watch on the gray market, it’s
not going to come with a warranty from the original manufacturer, but it will come oftentimes
with a warrant from whoever is selling it.
And, you’ve got to make the decision am I willing to take that chance to take that
risk, so you got to say do I trust the seller.
Next up, damaged or return goods.
So, those shoes were sent back because they have a little bit of a mark on it.
Guess what?
You don’t mind that mark and you can get those shoes at 50% off or maybe just something
that is basically new, but it was opened, so they can’t technically sell it as new
anymore, you can get 20% off.
But it is something to look for and oftentimes you can get an amazing deal at a discounted
price.
Next up, let’s talk about margin and the room for negotiation.
So, if you go to buy a custom suit, I’m going to say do not negotiate because believe
it or not, there is not much margin in most bespoke or custom suits.
However, in a lot of other industries, there is huge margin.
If you’re going to be buying a nice watch, you need to know that there is a huge margin
here and that you can negotiate getting deals of 25% off.
A Rolex made of gold is not uncommon and is something you should look for.
And when there is more markup there’s more room for negotiation.
All right, guys, so what did I miss?
What could I have added to make this video better?
I want to hear from you guys down in the comments.
I want to hear your secrets, I want to hear your insights to saving money when you’re
buying luxury goods.
And, if you’re going to go out there and you’re going to buy a nice leather bag,
check out this checklist I’ve got for you right here exactly what to look for if you’re
going to buy a leather weekender or a leather briefcase, anything out there made from leather
and you want to make sure it’s of high quality, I’ve got you covered with this video right
here.
I’m linking to it down in the description.
And, guys, don’t forget go check out Carl Friedrik.
I’m linking to them down in the description with the best discount code you’re going
to find out there.
And, guys, if you’re looking for a bag that you are going to be able to have for the rest
of your life and get compliments on, you need to check out this company, just amazing quality.
Very proud to support them.
Go check them out, guys.
I’m linking to them down in the description.
That’s it, gentlemen.
Take care.
I’ll see you in the next video.
[0:07:36] End of Audio