Channel 1: Authorised Dealer
An authorised dealer (AD) is a multi-brand retailer contracted to sell specific brands. You pay retail price (or close to it), get full manufacturer warranty (typically 5 years on modern Swiss), and start a relationship that matters for buying limited or allocated references later. AD acquisition is the only path to most current Patek/AP/Vacheron sports watches; expect 2-4 year waitlists.
Channel 2: Brand boutique
Brand-owned retail (Rolex Boutique, Patek Salon, Audemars Piguet AP House) sells the brand exclusively. Wider selection than ADs, full warranty, often the place to see new references first. Allocations still apply to limited references; the boutique vs AD distinction is mostly about selection and service experience rather than acquisition odds.
Channel 3: Verified pre-owned
Chrono24 'Verified by Chrono24' programme: third-party authentication and 14-day return, ~CHF 200 fee bundled into price. WatchBox / Govberg / Hodinkee Shop / Bob's Watches: dealer-driven, higher confidence, 12-24 month dealer warranty, prices 10-25% above private-sale equivalents. Watchfinder (UK / EU) carries 24-month warranty and pristine inspection standards. For hard-to-get references, this is the realistic alternative to a multi-year AD wait.
What to avoid
Unverified eBay: ~30% of high-value listings are replicas or unsigned modifications. Use eBay Authenticate or skip. Facebook groups / Instagram DMs: zero buyer protection; legitimate sellers exist but verification is on you. WhatsApp 'connections': usually grey-market arbitrage with no warranty and uncertain provenance. Cash-only deals: legitimate but high risk. If you're new to the market, stick to AD or verified pre-owned for your first few purchases.