Why Watches Are Available At Low Prices In Dubai

 

Dubai is one of the few places in the world where different types of goods are available at low prices compared to other places where those products are bought at high prices. One such product is luxurious watches available at lower costs and second-hand Rolex Dubai compared to other places to buy these watches.

But the common question which comes to our mind is why are luxurious and second-hand watches available at such prices even though they don't produce these types of products in their country?

Why are watches cheaper to buy from Dubai?

Dubai is one of the world's wealthiest and most famous cities, attracting many prospective buyers worldwide. The unique trade policy implemented in Dubai makes the supply and demand of luxurious products much cheaper than in other places.

Dubai is also a luxurious city where people with enormous wealth like to visit these types of expensive watches for them. So, due to the more significant demand for watches, it automatically lowers the prices of the products.

Let us now look at the various common factors which determine the prices of watches in the market: -

·         The watchmakers are the first to determine the watches' prices depending upon the material they are using to manufacture them.

·         Luxurious brands are next who determine if the prices of the watches would be lower or higher depending upon the deal they struck with their retailers.

·         If you're looking at watches that premium watchmakers make by hand, the prices of these products would certainly be high compared to the other ones.

·         If the watches are made using luxurious materials like gold, silver, and platinum, the cost of these products will skyrocket due to the quality of the material used.

·         One of the essential points during price determination of these watches depends upon the margin of profit the manufacturers will make through its sale.

After knowing the common factors used to determine the prices in the market, let us now understand what the unique elements in Dubai which make the prices go cheaper: are –

 

Supply and demand

Dubai offers some unique supply and demand conditions compared to other places worldwide. Due to the high demand for luxurious products, the supply is also high, automatically lowering the prices.

Currencies

This factor has negative and positive points and fluctuates depending upon the international markets. If your country's currency stands strong compared to the UAE dirham, the local currency used in Dubai, it would automatically make the prices go cheaper. But if it is positioned lower or the same as the local currency, it wouldn't make much difference.

Value-added tax

Value-added tax is another crucial determinant that significantly impacts the price of the products. Due to meagre VAT rates compared to other places, Dubai automatically becomes a shopper's heaven along with all the additional benefits it offers.

Conclusion

After reading the above article on why watches are available at such cheap prices in Dubai compared to other places, hopefully, you have your answer.

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