ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX
30 June 2021, 02:30 AM | #121 |
"TRF" Member
Join Date: Feb 2013
Real Name: Flavio
Location: N/A
Posts: 14,654
|
|
30 June 2021, 02:37 AM | #122 |
"TRF" Member
Join Date: Apr 2020
Location: USA
Watch: CHNR/YM/DJ/OP/SUB
Posts: 1,845
|
Living large on OPM. Looks like the house of cards has fallen!
|
30 June 2021, 02:39 AM | #123 |
"TRF" Member
Join Date: Dec 2005
Location: ByDawns Earlylite
Watch: 16800
Posts: 3,531
|
I guess it's too late to find out who they are......were.
|
30 June 2021, 02:44 AM | #124 |
"TRF" Member
Join Date: Jun 2012
Location: God Bless Texas
Watch: Smurf, DD40, SkyD.
Posts: 1,496
|
Yep. They've been saying for weeks they were redoing their site....
|
30 June 2021, 02:45 AM | #125 | |
"TRF" Member
Join Date: Mar 2009
Location: TX
Watch: 116710,116500, DJ
Posts: 197
|
Quote:
|
|
30 June 2021, 02:45 AM | #126 |
Banned
Join Date: Aug 2018
Location: Tokyo
Watch: SD43,PAM1616,Hulk
Posts: 3,567
|
not looking good, looks like they are shutting down.
|
30 June 2021, 02:50 AM | #127 |
"TRF" Member
Join Date: Dec 2018
Location: Chicago
Posts: 159
|
|
30 June 2021, 02:52 AM | #128 |
2024 Pledge Member
Join Date: Apr 2013
Location: Dc
Posts: 2,002
|
You think if just migrating to a new platform etc you Woukd post that on your site. Down for maintenance etc. I Would not delete on ig. Webpage etc at same time. Def odd move but they are very haphazard in that business. Would def have reservations consigning piece with them based on behaviors.
|
30 June 2021, 02:55 AM | #129 |
"TRF" Member
Join Date: Dec 2018
Real Name: Dave
Location: UK
Watch: ing and waiting!
Posts: 864
|
|
30 June 2021, 02:55 AM | #130 |
"TRF" Member
Join Date: Jun 2013
Real Name: Stephen
Location: UK
Watch: AP
Posts: 2,532
|
I’ve watched their you tube channel and actually quite enjoyed it. I take it with a pinch of salt. However their tone has changed and it’s gone downhill rapidly. Firstly they bought Clovet in as pure eye candy as she knew nothing about watches. Not her fault. The reviews were so poor they seemed to get rid of her. At the same time they suddenly try and raise $2,000,000 from their viewers and customers to pay for their shop - anyone paying $2,000 for membership is mad! Now they are playing out a ‘falling out’ or business split on camera. I assume it’s all for the drama - drama or not, it’s awful for their business as people will lose trust. Shame but I don’t see this ending well now.
|
30 June 2021, 02:57 AM | #131 | |
Banned
Join Date: Oct 2016
Location: Belgium
Posts: 473
|
Quote:
|
|
30 June 2021, 02:59 AM | #132 |
Banned
Join Date: Dec 2018
Location: DFW, TX
Posts: 2,149
|
The problem lies in their original video of them calling it an investment and Anthony promising certain benefits in exchange. Being their new “landmark” store isn’t happening it leaves grounds for legal implications. It was such a big deal they tried to clarify what the $2k was actually for in one of their more recent videos.
|
30 June 2021, 03:01 AM | #133 |
"TRF" Member
Join Date: Nov 2013
Location: US
Posts: 91
|
seems like they had a falling out based on their last episode.
here's the clip: https://www.youtube.com/watch?v=m2dLlcrgIgU |
30 June 2021, 03:02 AM | #134 |
2024 Pledge Member
Join Date: Mar 2014
Location: USA
Posts: 1,390
|
All speculation at this point. It did seem like there were some odd warning signs lately. The market itself seems to be slowing, TPG and also CRM recently seemed to allude to that. TPG's recent video where he told them to focus on selling instead of buying to unload inventory. Also in his recent video it seemed like he was passing up on buying a lot of pieces while visiting the jewelry guy in LA Chinatown that he seemed to be buying like there was no tomorrow in previous videos. And of course there was that weird blowup with Marco at the end of the last video (though probably just for show who knows).
|
30 June 2021, 03:03 AM | #135 | |
Banned
Join Date: Oct 2016
Location: Belgium
Posts: 473
|
Quote:
I don't know. Don't underestimate the value of 100k subscribers on youtube and the niche they are in. Clearly they are very inexperienced with running a business of this size, or any business with inventory even. They would really benefit of pulling someone in that could take proper control and bring in experience. |
|
30 June 2021, 03:04 AM | #136 |
"TRF" Member
Join Date: Oct 2019
Real Name: HM
Location: 🇲🇾
Posts: 2,369
|
i think initially they had a good plan - the show was exciting, original and never done before. But like I said previously, TPG has NO LIQUIDITY. It is very obvious that they are struggling for funds. They can sugarcoat the fund raising for all they want as 'wanting to get their supporters involved' but they are not deceiving anybody. The recent episode of Marco suggesting that they allow members in their group to trade direct from 1 member to another directly illustrates that they have NO FUNDS to buy watches for much longer and want to avoid having no watches to offer the 'membership group'.
It does not matter if this is a revamping exercise or not. Personally I would not deal with them because there's too much volatility. |
30 June 2021, 03:08 AM | #137 |
2024 ROLEX DATEJUST41 Pledge Member
Join Date: Oct 2019
Real Name: Ron
Location: Detroitish
Watch: GMT II/Sub/Exp II
Posts: 2,349
|
I think they lost the spreadsheet. Major computer malfunction and no usable backup file. There goes the business! Might as well add to the irresponsible speculation.
Was watching the series lately and agree their inventory "management" system is a joke. What does the operations manager do?? Opening boxes if fun but should be handled in a controlled environment by one person. At least that is what common sense tells me. Will be following out of curiosity. |
30 June 2021, 03:14 AM | #138 | |
"TRF" Member
Join Date: Dec 2012
Real Name: Cam
Location: North of 49th
Watch: Rolex/Grand Seiko
Posts: 1,723
|
Quote:
__________________
16618 126710BLRO 116500 LN (White) 228235 228239 SBGK002 |
|
30 June 2021, 03:17 AM | #139 |
"TRF" Member
Join Date: Nov 2020
Location: Under a Rock
Posts: 283
|
Number of possibilities:
1. Legal action regarding the $2,000,000 raised (or portion thereof)…it was sold as “every dollar will go toward the buildout of our retail location”…they even sent an email saying they had officially executed a lease, then did a complete 180. Should have refunded the money but perhaps it was already spent. If this was the case, makes sense a Judge would order their means of conducting business (website, IG, etc.) to be suspended 2. Cash flow issues caught up with them and the house of cards collapsed. Seems they always were in a cash crunch yet spending money like it grows on trees. The inability to secure a lease was a red flag 3. Had a falling out and Anthony bailed with a duffle bag full of cash and inventory, and is on a beach in the Bahamas |
30 June 2021, 03:19 AM | #140 | |
Banned
Join Date: Oct 2016
Location: Belgium
Posts: 473
|
Quote:
|
|
30 June 2021, 03:19 AM | #141 |
2024 Pledge Member
Join Date: Jun 2016
Real Name: Jeff
Location: PNW
Posts: 1,310
|
To me it was all entertainment but I would not have done business with them. I feel bad for those involved with them. I would not be surprised if this is all a stunt. I don't like stunts in business.
|
30 June 2021, 03:23 AM | #142 |
"TRF" Member
Join Date: Jul 2019
Location: CA
Posts: 351
|
I always thought their YouTube videos would end up as Exhibits A-Z in a lawsuit
|
30 June 2021, 03:25 AM | #143 | |
"TRF" Member
Join Date: Jun 2020
Location: USA
Posts: 3,017
|
Quote:
Could be as simple as a poorly executed rebranding / replatforming. Worse case scenario… they filed for bankruptcy protection and they will re-emerge in the future. |
|
30 June 2021, 03:30 AM | #144 |
Member
Join Date: Sep 2018
Location: NA
Posts: 107
|
They are revamping. But I would personally not do business with him, something just rubs me the wrong way.
|
30 June 2021, 03:40 AM | #145 |
"TRF" Member
Join Date: Mar 2017
Location: Canada
Watch: 126610LN
Posts: 45
|
If they are revamping, what a horrible way to do it. Lends zero credibility into the business where cash dominates and trust plays a large factor.
They could've easily just ported the site to explain what was going on... and even explain on social media what was about to happen. But to just pull the cord and delete everything almost everywhere, just shows that they could do it again at anytime, if they do come back. People love the train wreck so I'll keep watching, but will never do business with them. Can't believe I even considered consigning a watch to them. |
30 June 2021, 03:47 AM | #146 |
"TRF" Member
Join Date: Oct 2017
Location: East coast
Posts: 6,603
|
I think people just said they wear the consigned pieces....multiple ones a day
|
30 June 2021, 03:53 AM | #147 |
"TRF" Member
Join Date: Mar 2010
Location: Chicago
Watch: 16750/16800/126710
Posts: 1,401
|
I noticed their site and IG accounts were down this morning as well. They've had the same watches sitting for several weeks now. The market has slowed and I wanted to see if their same watches were still sitting unsold. I enjoy the videos but it all seemed like it was BS. Although they dont say it explicitly, it seemed that no commercial landlord wanted to give them a lease. Major red flag. Having watched the series since it started, I have always had the feeling that this is the kind of crap that happens right before a bubble bursts. The Johnny Come Latelys get involved, flaunting their newly found wealth, and then one day the bubble bursts and everything is gone. I don't know if we are there yet but if in a year if prices have massively fallen, people will be talking about how this show (and others like it) marked the top.
|
30 June 2021, 03:56 AM | #148 | |
"TRF" Member
Join Date: Dec 2012
Real Name: Cam
Location: North of 49th
Watch: Rolex/Grand Seiko
Posts: 1,723
|
Quote:
Their lack of business acumen was highlighted in the episode where they were (foolishly) planning their new store buildout right there in the building....they were practically drooling about how it would look before the lease had even been negotiated. It was clear neither of them had much experience negotiating this kind of lease. I felt bad for their realtor at the end when they kyboshed the dream. As a building owner, I could only dream of watching prospective tenants show me their cards in such an overt (and hilarious) fashion. Who knows, maybe this is all a poorly planned publicity stunt, but if you go back and watch the episodes from the beginning they didn't appear to take the actual business of owning a business ($17,000 steak dinner could have bought a decent sport Rolex) seriously enough and it just started piling on to what could be an unavoidable conclusion.
__________________
16618 126710BLRO 116500 LN (White) 228235 228239 SBGK002 |
|
30 June 2021, 03:57 AM | #149 | |
2024 Pledge Member
Join Date: Mar 2014
Location: USA
Posts: 1,390
|
Quote:
I had never thought of something like that being a consideration, so that was interesting. |
|
30 June 2021, 03:59 AM | #150 |
"TRF" Member
Join Date: Mar 2010
Location: Chicago
Watch: 16750/16800/126710
Posts: 1,401
|
If it's all over, I feel especially bad for the videographer who just quit his job to join TPG full-time.
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests) | |
|
|
*Banners
Of The Month*
This space is provided to horological resources.