Welcome back to an aBlogtoWatch original series, where we discuss important stores that sell watches all over the world. Each store we profile has an interesting story to tell about where they operate and who they sell to. Whether you buy watches from brick and mortar retailers or prefer to buy watches online, these are the stores that help shape our watch culture around the globe. There is a long list of stores to cover, but if there is a retail location in your favorite city that we simply can’t miss, let us know in the comments below.

Where to buy watches in Budapest, Hungary?

Today we look at a Central-European store, situated in the Central-Eastern part of the old continent: Watch De Luxe, in the capitol of Hungary, Budapest. Even if you are not from this relatively small country – a population of less than 10 million – read on, as you may find out why this market could be an interesting option to purchase high-end timepieces.

aBlogtoWatch: What types of watches are popular in your market? What makes Budapest a unique place to buy watches?

Watch De Luxe: For the local population, TAG Heuer is probably the leader in the luxury watch sector. But this particular shop is famous for being the only point of sales for a unique selection of other luxury brands, such as Cartier, IWC, Panerai, Breitling, etc., and therefore, we have a nice mix of sales of several brands. We are the leader of the luxury watch retail sector in Hungary.

Here in Budapest, we need to differentiate between local and tourist customers and also between European and non-EU customers. For non-EU customers, I would say that the high VAT, which is an extremely high 27% in Hungary, means the highest return for a tax-free purchase. That is a major advantage, as in the case of most watch brands, the Hungarian retail prices are equal or very near to the Euro retail prices in other countries that have 20% VAT.
For the Hungarian population, I would call our expertise, our integrated after sales service center, and the wide selection of watches as our major advantage for them to buy the watches with us.

ABTW: What would you tell watch lovers in other cities that watch lovers in Budapest like?

Watch De Luxe: Because several brands are only available from us in this country, we have a somewhat distorted view on what people prefer. As far as we can tell from this store, we would say our customers are following the latest trends and are always looking for the latest offerings.

ABTW: Do you serve mostly locals or tourists, or is it a good mix? Also, what percentage of your customers would you call “knowledgeable watch collectors?”

Watch De Luxe: In our customer base at this moment, we are primarily serving local customers. Tourists represent between 25% and 30% of our turnover, which is already a growth against previous years. Even as recently as 3-4 years ago, the share of tourist purchases in our store accounted for only 10-15% of our sales.

Knowledgeable watch collectors love to come into our store and check the novelties, discuss brands and some technical aspects of certain watches, but their purchases do not represent more than 10% of our sales.

ABTW: What is Budapest best known for? What do visitors have to do, see, or eat while there?

Watch De Luxe: Budapest is a stunning city, situated on the two sides of the Danube river; with a very rich, over 2000-year-old history, beautiful architecture and a lot to do and see. Besides all the touristic venues, those who like gastronomy will enjoy their stay in Budapest for sure, as there is a wide range of great restaurants in all the possible categories – and Hungarian cuisine is also held in high regard by our foreign visitors.

While there are four Michelin star restaurants in the city, there is also a vivid night life in the central, historic districts of Budapest. Some of these districts used to be the major jewish districts of the city, and during the WWII it was the ghetto. With that dark past, by today, these districts have become extremely famous with their unique clubs and ruin pubs – and it is a good feeling to see this part of the city being so alive and joyful after its sad history.

ABTW: As a business, do you sponsor or participate in any local events, watch-related or otherwise?

Watch De Luxe: We have been a major partner every year of the prestigious Opera Ball event, but in the last few years, that event has not been organized. Now we participate in events sponsored by brands which we represent. Furthermore, while we, as a shop, do not sponsor an event, we do organize our own events usually within our store. On these occasions, we invite collectors and enthusiasts, and we always focus on a single brand, with participation of some representatives of the selected brand or manufacture.

ABTW: What are some of the watch brands you are known for carrying? If you could pick a watch brand or model that epitomizes the culture or style of Budapest, what would it be?

Watch De Luxe: As our shop has been open for 11 years, we have seen a major change in the attitude of the Hungarian watch enthusiasts towards fine Swiss watches. Fine timepieces have become much more accepted and in most cases, even an expected thing – for example, for company managers to wear a quality watch that represents craftsmanship, history, prestige. I would refrain from mentioning brands, for as we see, everyone expresses themselves with their own choice. watchdeluxe.com