There are quite a few "free" 2nd hand watch stores in Mongkok Fa Yuen St,/Dundas St. area (where all the R/C hobby shops where). Lots of Rolex there, but some other brands too.
As Freeier said, at ADs you might get a discount. GS and Omega are relatively flexible giving discounts. Depending on which model, you can get 15%.
I remember back in 2013-2014 Rolex was giving 5-10% discounts on Subs and GMTs. The discount for a Hulk was even higher, they barely could sell that model. Obviously this is not the case anymore...
I prefer to buy at ADs or Boutiques, main reason is for the warranty. Grey dealers also offer warranty, not sure how it works though.
Don’t worry too much about fakes. Some of the grey dealers in HK have an international reputation… I haven’t heard any stories selling fakes on the grey market.
I bought one watch from a grey dealer. It was a Panerai. Panerai is a soft brand, buying new didn’t make much sense… Don’t remember exactly but I think I saved around 35%.
ya i think if you go to a decent 2nd hand shop they do honest business.. just very tiring (the haggling and stuffs) as every extra cent to them will be extra profit. They will pass you the original warranty card.. and i guess you can always claim at the service center that you received the watch from a friend as a gift and no reason they can reject you warranty.
I would think Panerai you can go dealer and probably get a 25 or 30% discount off for the new pieces. Even AP, outside of RO, i think you can get decent discount at the ADs.