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