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I've posted on this subject before. My four bits are:
- There are as many unscrupulous authorized dealers as gray dealers.
- The watch manufacturers make money on gray market sales.
- Without a gray market there would be no price competition to drive discounts in the authorized market.
- The industry needs to transform the market and legitimize the so-called gray market. The only sector to lose out would be store-front dealers who make you pay for their overhead.