If you go there to buy a new watch, keep these things in mind:
a) Don't pay the first price they quote you. They are there to get the highest amount of money that you will pay, so you have to learn how to bargain.
b) Don't be surprised when that new Rolex that you bought for 20 bucks stops working. Did you expect a real Rolex for $20?! As they say at the Silk Market, "you must be joking." (They like to say that to make you think you've just offered a ridiculously low amount for the object you've been haggling over.)
The Silk Market consists of rows and rows of booths, organized by what they sell. Shoes, purses and luggage on the first floor; clothing on the second level; watches and beads above that. Each booth is about 6 or 7 feet wide, and 6 or 7 feet deep, with one (sometimes two) worker(s). The merchandise (in the case of shoes & clothing) is displayed on the back and two side walls...floor to ceiling. Clothing is on hangers, one "display" of each item they stock.

If we were interested in something, they would check the stash behind the bottom row for the right size. As we walked by each booth, they would call out their goods and the "name brands" they sold to entice us into the store. Once inside, they were more than happy to help us pick something out. Sherrie and I quickly discovered that once you start talking price, you are almost expected to buy the item. They will give you a very hard time otherwise. So, it's best to not appear too interested until you are ready to buy.
I didn't spend a lot of time (or money) at the Silk Market, so I only saw two floors--the shoes & purses, and part of the clothing. I came away with two pairs of stretch chinos, and a pair of green canvas cargo shorts. I had tried my hand at bargaining in Chengdu for a silk shawl (I don't think that went so well), at the Pearl Market in Beijing (a little better, but I still paid to much for that shirt), and then at the Great Wall for my souvenir shirt (you know: been there, done that, got the T-shirt.) So, by the time I got to the Silk Market, I kind of knew what I was doing. Not sure I got the best deal by Chinese standards, but I only paid 250 RMB (about $31) for all three things! The key is to start walking away. Then listen for the lower price, or the "OK" over the noise. :)
Here are a couple more pictures that Sherrie took in the Silk Market:
Escalators, just like your local mall.
Wanna buy a watch?
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