With massive discounts available on Alibaba’s online stores, shoppers might be tempted to buy in bulk on Singles’ Day. But in case shopping on the cheap isn’t appealing enough, those with deep pockets will find plenty of expensive options also on sale.
Delivery drivers sort packages for delivery at a sorting center during the ‘Double Eleven’ Online Shopping Festival day in Beijing on November 11, 2016.Chinese shoppers spent more than USD 1 billion in the first five minutes of Singles Day on November 11, e-commerce giant Alibaba said, in the world’s biggest online shopping promotion. (GREG BAKER/AFP/Getty Images)
In particular, imported luxury products offered by international brands are increasingly popular among Chinese consumers. However, there’s no guarantee that they are the best deals compared to similar offers on Amazon, eBay or in physical stores. China currently charges 2% to more than 20% on imported goods. Retailers are likely to have mark-ups, too, on popular items. Since April this year, China has imposed tariffs on products purchases made abroad and ordered from overseas websites.
Still, if you’re the high-roller type who’s happy to fork out more than than the usual then these items from Alibaba’s Tmall and Taobao might just have your back on Singles’ Day:
Seiko’s Credor Fugaku Tourbillon Limited Edition
Price: 3,520,000 RMB (Photo: screenshot from Taobao.com)
Currently on sale on Seiko’s store on Tmall for 3.52 million yuan ($516,000), 12% off from 4 million yuan. The company said the watch, which has a crocodile strap along with a three-fold clasp made by platinum 950 – a blend of 95% platinum and 5% alloy metals, is a limited edition. Only eight pieces have been made.
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Is it a steal? Maybe, because it is a limited edition. However, on Seiko’s US site, the same watch has a recommended retail price of just $460,000.
1.09 Carat Pink Diamond
Price: 2,545,653 RMB (Photo: screenshot from Taobao.com)
Uletai, a Shanghai-based jewelry company, is offering a 50% discount on a 1.09 carat pink diamond, which now sells for 2.54 million yuan ($372,700) along with a GIA certificate. What’s more, the retailer said if you buy from 22 October to Singles Day there are gifts with purchases.
Is it a steal? Think twice. The retailer said seven-day return policy doesn’t apply on Taobao so once you’ve bought there’s no way you can receive a refund.
2017 Ford Mustang
Price: 400,000 RMB (Photo: screenshot from Taobao.com)
All SUV, a car dealer on Tmall, is selling a Ford Mustang North America version at 360,000 yuan ($52,800), down from the retail price of 400,000 yuan. 5 different colors of the car are currently available.
Is it a steal? Probably not. It’s not much of a price cut. The site didn’t mention anything about a test drive. But if buying a car straight off the internet is your thing then go for it.
Mima Xari Baby Stroller
Price: 49,388 RMB (Photo: screenshot from Taobao.com)
Parents certainly don’t want to feel left out on Singles’ Day. On Tmall, a luxury baby stroller in rose gold made by Spanish brand Mima is currently on sale for just under 50,000 yuan ($7,336). There’s a lucky draw on Singles Day for those who have made a purchase.
Is it a steal? Probably a yes given it’s for the comfort and luxury of a beloved child. Yet again you’ll find the same product costs less elsewhere outside of China. The same model costs just $1,519 plus free shipping on Mima’s US site.
Ya-man Body Slimming Massager
Price: 19,999 RMB (Photo: screenshot from Taobao.com)
Japanese brand Ya-man claims its devices can reduce fat and cellulite with radio frequency (RF) and cavitation technology, firming muscles to make you look more toned.
The strange looking device costs just under 26,000 yuan ($3,814) and is now on sale on Ya-man’s store on Tmall international for 19,999 yuan.
Is it a steal? Only if you believe the device will do what it says on the tin. There’s also very little information about the product on the site.