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20 April 2024, 03:56 AM | #31 |
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I have been selling countless watches on eBay and it’s been fast and flawless. Over $7500 the fee is only $600 bucks and the Authenticity Guarantee works absolutely perfectly. You’d be a bit foolish to continue selling on Chrono24 or other channels IMHO. Used to take forever and private sales on TRF are near impossible. This also forces a lot of private sellers to just give up and take a huge bath trading it in. Selling on eBay puts ‘you’ in control and you can sell for the very same prices that second hand dealers sell for.
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20 April 2024, 04:13 AM | #32 | |
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20 April 2024, 04:17 AM | #33 |
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Had a new buyer contact me today. He's local to me. He wants to make sure the watch is authentic since I'm a private seller which I totally understand. I would want to do the same thing if I was buying from a total stranger. How do we make this happen? I don't want any random jeweler or dealer opening my watch so I would only allow it if it was done by a Rolex AD. Do they even offer this as a service? Another hurdle...
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20 April 2024, 04:29 AM | #34 | |
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Maybe just a little more patience. It’ll sell I’m sure, it’s also tax season so maybe that’s a temporary influence.
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"You might as well question why we breathe. If we stop breathing, we'll die. If we stop fighting our enemies, the world will die." Paul Henreid as Victor Laszlo in Casablanca |
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20 April 2024, 04:49 AM | #35 |
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20 April 2024, 04:52 AM | #36 | |
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20 April 2024, 08:12 AM | #37 |
2024 ROLEX DATEJUST41 X2 Pledge Member
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You could do BIN on EBay , but they take a whopping 17%. Better than 30%, though. It would go through their authentication process, but that shouldn’t be a problem, and you can open it up to the whole world. I’ve been selling off my very large collection, and since I’ve owned a lot of my watches for years, but they are mostly mint, I’ve been doing well. I don’t mind the 17%, as I have so many to sell. I only use BIN, and do not offer free shipping. Tomorrow EBay will be dumping another couple grand into my bank account.
Kat Sent from my iPad using Tapatalk |
21 April 2024, 03:08 AM | #38 |
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i've typically sold to trusted dealers. yes i have to give up some money but i find it's worth it for the convenience
my last couple of rolexes i sold through a service called council watches. they find a dealer to buy your watch for you. it works the same as selling to a dealer but on my last watch they were able to get me $600 more than the offers i got on my own. again, probably still not quite you would get from ebay but i prefer it so i can get a quick and safe sale good luck |
21 April 2024, 03:54 AM | #39 | |
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Be careful doing a face to face. There are some crazy stories we’ve read. Be safe! Kat Sent from my iPad using Tapatalk |
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21 April 2024, 04:09 AM | #40 | |
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21 April 2024, 08:12 AM | #41 |
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It's not 17%. eBay fees for luxury watches are structured in brackets:
source Let's take an example: you just sold a $10,000 watch. With tax, let's say it comes out to $10,900. So your eBay fees will be: ($1,000 * 0.15) + ($6,500 * 0.065) + ($3,400 * 0.03) = $150 + $422.50 + $102 = $674.50. $674.50 is about 6.7% of your total selling price, not 17%. |
21 April 2024, 08:52 AM | #42 | |
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I always recommend to buy/sell only with people you know. Never, ever, ever, ever deal with strangers unless one of the people you wholeheartedly trust also vouch for that person. And by "vouch", I mean they back the deal with their own funds as well. Or go with a trusted third-party or middleman to oversee the entire transaction. You pay for their services but they also provide authentication and some variations of escrow. Some good ones that I've personally used:
Or if you need cash quickly, then sell to a trusted dealer. Their offers may seem to be "lowballs" but those are actually the fair market price for wholesale. This is because they incur all the risks of stocking the watch ("stocking" means insuring the watch, marketing the watch, servicing the watch, guaranteeing the watch for a period of time after the sale, etc) and dealing with the public. A general rule of thumb is to take the lowest price you see in Chrono24, eBay, WatchCharts, and WatchRecon, then subtract 10% - 30% depending on the model's and brand's "liquidity". Using your 126618LB as an example, the lowest I see right now is $36,000 for a complete set in excellent condition. Given the current slow market, a dealer may be willing to stock it for market price minus 15%. Non-Rolex brands may be closer to market price minus 30%. So expect their offer to be $36,000 * 0.85 = $30,600. And expect other dealers to offer you somewhere around that price as well. |
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21 April 2024, 09:53 AM | #43 | |
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Grey market dealer for consignment?
Quote:
I have no idea where you got those numbers. I sell watches on eBay and the avg amt. they take is 17% from each sale. They take a percent of tax and shipping, as well. In the end it amts. to 17%. Having said that, I’ve sold several for over $1,000, but the rest were in the 3-500.00 range. Kat Sent from my iPad using Tapatalk |
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21 April 2024, 10:20 AM | #44 |
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Grey market dealer for consignment?
I think he got that eBay fee structure from the eBay link he posted. It seems to comport with what your average 17% experience has been.
That's what I found when I clicked the link he posted that you quoted. Sent from my iPhone using Tapatalk Pro
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21 April 2024, 10:32 AM | #45 | |
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I got them straight from the eBay website. And I’ve verified it thorough dozens of transactions worth $10,000+ each. Please read the link I provided. If you still have doubts, contact eBay support and they will be able to explain the fees structure for luxury watches. If most of the watches you’ve sold were below $1,000, then 17% is close to the first bracket (15%) and your experience makes sense. You might only be calculating the fees based on the actual sold price rather than the total sale price (including taxes and shipping fees if applicable) so that can explain the 2% “discrepancy”. But if you start selling watches beyond the first bracket, then you’ll see it’s not always 15%. |
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21 April 2024, 10:37 AM | #46 | |
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I was just trying to debunk the myth that eBay charges high fees. In actuality, their fees are reasonable and in line with other selling platforms out there such as Chrono24. But the main advantage with eBay is their authenticity guarantee for watches >$2,000. Any watch >$2,000 goes through Stoll & Co., eBay’s authenticator. |
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21 April 2024, 10:51 AM | #47 | |
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Would you mind explaining why MODA is high learning curve, please? |
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21 April 2024, 10:58 AM | #48 | |
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It averages 17% for me, plus a very small fee, monthly, for my eBay watch store. I mostly sell 3-500.00 watches, a lot of Seikos, Seiko bracelets and straps, etc. EBay even says it’s 17%. They are very transparent and I’m not complaining, having sold almost 30 watches in the last 6 weeks. Kat Sent from my iPad using Tapatalk |
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21 April 2024, 12:05 PM | #49 | |
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For me, I only sell a few watches per month but each watch is around $10,000 - $15,000. So that explains why my eBay fees are lower than yours. |
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21 April 2024, 12:30 PM | #50 | |
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Yeah, I left off Chrono24 because of horror stories I've heard of buyers falsely claiming to have received a different watch.
As a seller in Chrono24, you ship the watch directly to the buyer so you are at the mercy of what the buyer says. If the buyer starts to make false claims, it's your word against the buyer's. Unfortunately, Chrono24 sides with the buyer for most cases and all the funds in escrow goes back to the buyer. So the buyer keeps their money and your watch. With eBay's Authenticity Guarantee, you don't ship anything to the buyer. Instead, you ship the watch to eBay's authenticator. So if the buyer starts claiming a fake or different watch was shipped, it's their word against eBay. As a seller, your only responsibility is shipping the exact watch to eBay's authenticator. Once they confirm to have received your watch, it's their responsibility to authenticate, insure, and ship your watch to the buyer. Basically, you have the protection of a middleman with eBay but not Chrono24. Quote:
It's basically a huge BST network and similar to the system that watch dealers use in the Diamond District. There are no tutorials in Moda, just a few guidelines and you have to learn the rest by experience and/or from long-time members. |
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21 April 2024, 01:21 PM | #51 | |
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22 April 2024, 03:09 AM | #52 |
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I find consignment too risky. If the dealer goes bust, you lose the watch and the money. If they manage to sell it, how much do you trust them to not use the cash to run their business, before they wire it to you? If they get burgled, what's your protection? How many phone calls and sleepless nights before you get paid? If you don't want to sell and be hit with the dealer's 40% gross margin, find a dealer allowing you to swap the piece for other watches you're interested in.
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