Madrid

Seventeenth-century playwright Tirso de Molina called Madrid "a shop stocked with every kind of merchandise," and it's true – an estimated 50,000 stores sell everything from high-fashion clothing to flamenco guitars to art and ceramics.

The days of bargaining are, for the most part, long gone. Most stores have what is called precio de venta al público (PVP), a firm retail price not subject to negotiation. With street vendors and flea markets, it's a different story because haggling a la española is expected. However, you'll have to be very skilled to get the price reduced a lot, as most of these street-smart vendors know exactly what their merchandise is worth and are old hands at getting that price.

Major stores are open (in most cases) Monday to Saturday from 9:30am to 8pm. Many small stores take a siesta between 1:30 and 4:30pm. Of course, there is never any set formula, and hours can vary greatly from store to store, depending on the idiosyncrasies and schedules of the owner.

The Centre

The sheer diversity of shops in Madrid's centre is staggering. Their densest concentration lies immediately north of the Puerta del Sol, radiating out from Calle del Carmen, Calle Montera and Calle Preciados.

Calle Mayor & Calle del Arenal

Unlike their more stylish neighbours to the north of Puerta del Sol, shops in this district to the west tend toward the small, slightly dusty enclaves of coin and stamp dealers, family-owned souvenir shops, clock makers, sellers of military paraphernalia and an abundance of stores selling musical scores.

Gran Vía

Conceived, designed, and built in the 1910s and 1920s as a showcase for the city's best shops, hotels, and restaurants, the Gran Vía has since been eclipsed by other shopping districts. Its Art Nouveau-Art Deco glamour still survives in the hearts of most Madrileños, however. The bookstores here are among the best in the city, as are outlets for fashion, shoes, jewelry, furs, and handcrafted accessories from all regions of Spain.

El Rastro

It's the biggest flea market in Spain, drawing collectors, dealers, buyers, and hopefuls from throughout Madrid and its suburbs. The makeshift stalls are at their most frenetic on Sunday morning.