Day in the life of a watch dealer.

[JParm]

Just started watching a couple of their videos and I think they're very interesting; appreciate the insider's look into the business.

Reading up on a few comments and while I don't know enough to comment on their business specifically, I will say that to those saying "they blew up too quickly with social media" and are playing catch up with more established dealers (e.g. don't have the clientele, etc.), some of that might not matter in the long-run.

If they are able to turn their videos, channels, etc into something bigger than watches, like paid ads, then they've got a whole different revenue stream going than what many are mentioning here.

Just food for thought...social media exposure can be bigger than moving watches, especially at their profit levels. Selling watches might take a backburner to their social media presence in the long-term...just never know.

[PBJ1925]

Originally Posted by CastorKrieg

Yeah, they seem to be a little too much trigger happy. It might also be that Anthony never sees that as a long-term thing, as he mentioned if that won't work he will just 'sell something else'. However this state of mind will let you constantly jumping between projects, unable to dedicate your time and energy to any single pursuit. Sounds like a recipe for disaster.

The back shop operations is a bit of a disaster when you turn off the cameras. As I posted before, I tried to connect with these guys on a consignment agreement in an attempt to turn over a few pieces. Anthony at the end of this week's video describes them offering the best consignment agreement in the business and while the percentages may be true on sub 10k pieces, the actual execution isn't.

After multiple inquiries, I finally got in touch with their team and they had the next action in sending me a label / agreement. Fast forward a week, when I gently called them out that I haven't received any executed papers/label, the answer was one I felt of entitlement in that we are still interested, nothing has changed, we have to send you out a label.

In my world, typically you apologize for dropping the ball and prioritize in sending out the papers that day. That recovery alone tends to turn detractors into promoters if the rest of the customer experience is executed well. I didn't receive the label that day either.

Living in Silicon Valley, the attitude/experience reminded me of the .com days where leaders of certain companies received blank checks due to a meteoric rise in their business, and started spending curiously while allowing the organization to run in a fashion that wasn't scalable. For every Google story there are a dozens of others that I still shake my head at what could have been. I really hope they can recapitalize some of their time on the operations end of their business because at the end of the day I love an underdog story of a couple guys hustling to succeed.

[huncho]

Originally Posted by jpeezy14@hotmail.com

Just started watching a couple of their videos and I think they're very interesting; appreciate the insider's look into the business.

Reading up on a few comments and while I don't know enough to comment on their business specifically, I will say that to those saying "they blew up too quickly with social media" and are playing catch up with more established dealers (e.g. don't have the clientele, etc.), some of that might not matter in the long-run.

If they are able to turn their videos, channels, etc into something bigger than watches, like paid ads, then they've got a whole different revenue stream going than what many are mentioning here.

Just food for thought...social media exposure can be bigger than moving watches, especially at their profit levels. Selling watches might take a backburner to their social media presence in the long-term...just never know.

i think that is what people are failing to realize when they constantly mention that these guys shouldn't be eating out at expensive places so much, going on so many trips and buying lambos. i think it's pretty clear they want to make this bigger than just selling watches and they're taking the opportunity of this crazy market to show off and build the brand. they're hoping that when (or if) the watch market cools down, they'll have other ways to make a lot of money

blowing up off tiktok just made it hard for them to scale up in the short term because everything was done through dms/calls, but long term it'll benefit much more

[shaunylw]

Originally Posted by CastorKrieg

He mentioned he deals with Rolex mainly because the watches move very fast. I can think if needed he will liquidate or slow down his pipeline within a week or two.

If you look at the site, everything is worn. I couldn’t find a single brand new Rolex on his website. He doesn’t take the time to polish and freshen then up either. I haven’t really seen them from the larger dealers. Most have someone that do all of their polishing before they sell.


Sent from my iPhone using Tapatalk

[PBJ1925]

Originally Posted by shaunylw

If you look at the site, everything is worn. I couldn’t find a single brand new Rolex on his website. He doesn’t take the time to polish and freshen then up either. I haven’t really seen them from the larger dealers. Most have someone that do all of their polishing before they sell.


Sent from my iPhone using Tapatalk

It's likely a good percentage of the pieces are up for consignment and my sense is that the owners would prefer to sell them unpolished.

[Mmf115]

Originally Posted by nick800

I’ve been enjoying the show until this most recent one. When he “bought” that RM on credit, I turned it off. They don’t own anything. They seem to be using a personal loan/line of credit to obtain their personal collection. That isn’t a retirement nest egg. You should be very rich to be able to drop $250k on a watch.

Found this odd too. Was it a personal purchase or just a consignment ? Wasn’t there something about needing to sell it by the 28th ? I see it’s for sale on the site and on Instagram sites. I like their content but this one made me wonder.

[brandrea]

Originally Posted by Mmf115

Found this odd too. Was it a personal purchase or just a consignment ? Wasn’t there something about needing to sell it by the 28th ? I see it’s for sale on the site and on Instagram sites. I like their content but this one made me wonder.

All the lines appear a little blurry between what’s in the “personal collection” and inventory. I’d say for a price, anything’s for sale

[favre12rodgers]

Originally Posted by nick800

I’ve been enjoying the show until this most recent one. When he “bought” that RM on credit, I turned it off. They don’t own anything. They seem to be using a personal loan/line of credit to obtain their personal collection. That isn’t a retirement nest egg. You should be very rich to be able to drop $250k on a watch.

But does it matter on an appreciating asset? He can flip it tomorrow to get the money back and likely make a profit. When dealing with such, I'm not sure it matters if it's for personal or business. I get the impression they flip things all the time from their personal collection....

[CastorKrieg]

Originally Posted by favre12rodgers

But does it matter on an appreciating asset? He can flip it tomorrow to get the money back and likely make a profit. When dealing with such, I'm not sure it matters if it's for personal or business. I get the impression they flip things all the time from their personal collection....

That's a good remark, RM watches are all on limited production, however there are many that have depreciated over time, you just need to make sure you do not hold it too long.

[huncho]

interesting ig post from anthony on the topic everyone is talking about here

[7sins]

Originally Posted by poweredbyjae

The back shop operations is a bit of a disaster when you turn off the cameras. As I posted before, I tried to connect with these guys on a consignment agreement in an attempt to turn over a few pieces. Anthony at the end of this week's video describes them offering the best consignment agreement in the business and while the percentages may be true on sub 10k pieces, the actual execution isn't.

After multiple inquiries, I finally got in touch with their team and they had the next action in sending me a label / agreement. Fast forward a week, when I gently called them out that I haven't received any executed papers/label, the answer was one I felt of entitlement in that we are still interested, nothing has changed, we have to send you out a label.

In my world, typically you apologize for dropping the ball and prioritize in sending out the papers that day. That recovery alone tends to turn detractors into promoters if the rest of the customer experience is executed well. I didn't receive the label that day either.

Living in Silicon Valley, the attitude/experience reminded me of the .com days where leaders of certain companies received blank checks due to a meteoric rise in their business, and started spending curiously while allowing the organization to run in a fashion that wasn't scalable. For every Google story there are a dozens of others that I still shake my head at what could have been. I really hope they can recapitalize some of their time on the operations end of their business because at the end of the day I love an underdog story of a couple guys hustling to succeed.

I have a VERY good grey dealer I consign at an incredibly low cost, have moved $500k+ worth of watches through him. Feel free to PM me and he will take very good care of you. No BS with him.

[7sins]

Originally Posted by poweredbyjae

The back shop operations is a bit of a disaster when you turn off the cameras. As I posted before, I tried to connect with these guys on a consignment agreement in an attempt to turn over a few pieces. Anthony at the end of this week's video describes them offering the best consignment agreement in the business and while the percentages may be true on sub 10k pieces, the actual execution isn't.

After multiple inquiries, I finally got in touch with their team and they had the next action in sending me a label / agreement. Fast forward a week, when I gently called them out that I haven't received any executed papers/label, the answer was one I felt of entitlement in that we are still interested, nothing has changed, we have to send you out a label.

In my world, typically you apologize for dropping the ball and prioritize in sending out the papers that day. That recovery alone tends to turn detractors into promoters if the rest of the customer experience is executed well. I didn't receive the label that day either.

Living in Silicon Valley, the attitude/experience reminded me of the .com days where leaders of certain companies received blank checks due to a meteoric rise in their business, and started spending curiously while allowing the organization to run in a fashion that wasn't scalable. For every Google story there are a dozens of others that I still shake my head at what could have been. I really hope they can recapitalize some of their time on the operations end of their business because at the end of the day I love an underdog story of a couple guys hustling to succeed.

I have a VERY good grey dealer I consign at an incredibly low cost (ie I paid $600ish to consign a Daytona through him), have moved $500k+ worth of watches through him. Feel free to PM me and he will take very good care of you. No BS with him.

[jaisonline]

Originally Posted by 7sins

I have a VERY good grey dealer I consign at an incredibly low cost, have moved $500k+ worth of watches through him. Feel free to PM me and he will take very good care of you. No BS with him.

Hi. Can you PM the info ?

[Fred48]

Think I've given up on TPG. Watching them buy and sell watches is about as exciting as watching paint dry.

[JodyHighroller]

Originally Posted by Mmf115

Found this odd too. Was it a personal purchase or just a consignment ? Wasn’t there something about needing to sell it by the 28th ? I see it’s for sale on the site and on Instagram sites. I like their content but this one made me wonder.

Basically he needs to sell it by the 28th to pay the other dealer for the watch otherwise he returns the watch and pays a small fee ($5k I think? Been two days since I watched the episode). Essentially a net 15 day account setup.

Originally Posted by nick800

I’ve been enjoying the show until this most recent one. When he “bought” that RM on credit, I turned it off. They don’t own anything. They seem to be using a personal loan/line of credit to obtain their personal collection. That isn’t a retirement nest egg. You should be very rich to be able to drop $250k on a watch.

I’d have to agree. The celebrations of saying he bought a RM for himself when he hasn’t even paid for it yet rubs me the wrong way.
If it’s indeed for your personal collection, the real accomplishment is when you actually pay for it in full. That’s just my opinion though.

[Knappo 1307]

I can't quite put my finger on it, but I'm starting to see a difference in his attitude and I'm losing interest in his whole deal.....

[SMD]

Over/under Whether he survives three years? I take the under on 2024.

[RotorSelfWinding]

Originally Posted by Knappo 1307

I can't quite put my finger on it, but I'm starting to see a difference in his attitude and I'm losing interest in his whole deal.....

It needs to go back to its roots a bit. All the stuff which seems like it would be exciting isn't and all the stuff that would seem boring is actually super interesting.

That being said, the comment he made an episode or two ago about "I basically only deal in Daytonas for Rolex" kind of gave me a sense of their direction.

They criticize Pawn Stars (and right so), but there's a reason why that show is interesting and people watch it. Watching them negotiate watches we're mostly unfamiliar with for prices we can't imagine is...less than interesting.

[Jster]

Originally Posted by Fred48

Think I've given up on TPG. Watching them buy and sell watches is about as exciting as watching paint dry.

I agree. I gave up on watching a few weeks ago. Initially, I loved the inside peak into how grey dealers operate. Now that I’ve seen it, time to move on.

I’m more interested in the channels, like Timeless Watch Channel, where guys are passionate about watches, not treating them as commodities. Nothing against TPG, I understand it’s a business to him, but my interests now lie elsewhere.

[Jim Smyth]

Seems timepiecegentleman is banned on TRF and hasnt posted since the end of last year. Anyone know why? PM me if you know and cant post the reason in this thread. Thanks

[brandrea]

Originally Posted by huncho

interesting ig post from anthony on the topic everyone is talking about here

Profit is a tricky thing ... net profit or gross profit When I see this, and I think of the expense side of how they operate, it gives me pause.

Anyway, good luck to them. Like the post(s) above, it’s become a bit too predictable for me.

[Wingslogo]

I’ve enjoyed the episodes; just something to get your mind off anything that’s important.

I’ve reached out to buy on Instagram and never been able to get past the initial message; I suppose I could call and make a greater effort.

Charging Sales Tax is confusing with the new Wayfair Act states can mandate that businesses without a physical presence in a state with more than 200 transactions or $100,000 in-state sales collect and remit sales taxes on transactions in the state or something to that effect but it makes me wonder why other dealers aren’t charging sales tax.


Sent from my iPhone using Tapatalk

[Andy0331]

Originally Posted by huncho

interesting ig post from anthony on the topic everyone is talking about here

LOL, while not impossible, it's just a few typed numbers & words, nor does it indicate Gross or Net. Personally, I'd be shocked if that's Net.

While I'm sure they're profitable, I have little doubt that this is mostly a social media or reality TV play; they seem to be far more likely to make "big" money going that route. Even the talk with the "investor" who was giving them $1.5M seemed to focus on them spending the majority of it on lifestyle & media upgrades & not the "watch business". I saw almost zero ROI for the investor if it remains focused on watches (based on their limited "sit down" coverage).

[Fleetlord]

Originally Posted by Andy0331

LOL, while not impossible, it's just a few typed numbers & words, nor does it indicate Gross or Net. Personally, I'd be shocked if that's Net.

While I'm sure they're profitable, I have little doubt that this is mostly a social media or reality TV play; they seem to be far more likely to make "big" money going that route. Even the talk with the "investor" who was giving them $1.5M seemed to focus on them spending the majority of it on lifestyle & media upgrades & not the "watch business". I saw almost zero ROI for the investor if it remains focused on watches (based on their limited "sit down" coverage).

Oh no...Now all I can see when I watch their videos is them becoming 'Prestige Worldwide'. Which...actually might be even more entertaining.

If you have seen 'Step Brothers' then you know what I'm talking about...

[Texote69]

Originally Posted by Jim Smyth

Seems timepiecegentleman is banned on TRF and hasnt posted since the end of last year. Anyone know why? PM me if you know and cant post the reason in this thread. Thanks

Wonder why too

[PBJ1925]

Originally Posted by Wingslogo

I’ve enjoyed the episodes; just something to get your mind off anything that’s important.

I’ve reached out to buy on Instagram and never been able to get past the initial message; I suppose I could call and make a greater effort.

Charging Sales Tax is confusing with the new Wayfair Act states can mandate that businesses without a physical presence in a state with more than 200 transactions or $100,000 in-state sales collect and remit sales taxes on transactions in the state or something to that effect but it makes me wonder why other dealers aren’t charging sales tax.


Sent from my iPhone using Tapatalk

Sorry you had a similar experience in responsiveness. I tried via IG, web form, e-mail, calls and its next to impossible to do business with them if you see my prior posts. The clincher was when after a week+ of not getting a agreement / label for items for consignment, they circled back again with a what was it you were interesting in consigning? Cant' even make this stuff up.

[Knappo 1307]

Originally Posted by fleetlord

oh no...now all i can see when i watch their videos is them becoming 'prestige worldwide'. Which...actually might be even more entertaining.

If you have seen 'step brothers' then you know what i'm talking about...

boats.jpg

[JodyHighroller]

Originally Posted by Jim Smyth

Seems timepiecegentleman is banned on TRF and hasnt posted since the end of last year. Anyone know why? PM me if you know and cant post the reason in this thread. Thanks

Typically mods won’t discuss reason for banning. Most commonly sellers bump or post more than five threads a day in the classifieds, which is a common reason for temporary timeout. TPG seemed to be in compliance with that after reviewing his post history. Not sure if the ban is a short term or permanent one. Time will tell.

Originally Posted by Knappo 1307

I can't quite put my finger on it, but I'm starting to see a difference in his attitude and I'm losing interest in his whole deal.....

Seems to becoming more arrogant imo.

[Fred48]

Originally Posted by Jster

I agree. I gave up on watching a few weeks ago. Initially, I loved the inside peak into how grey dealers operate. Now that I’ve seen it, time to move on.

I’m more interested in the channels, like Timeless Watch Channel, where guys are passionate about watches, not treating them as commodities. Nothing against TPG, I understand it’s a business to him, but my interests now lie elsewhere.

Just love The Timeless Watch Channel, the guy is an artist. But, the videos can be dangerous. I wound up buying an Omega and a Panerai after two videos on the same.

[Fleetlord]

Originally Posted by Knappo 1307

Attachment 1217254

If TPG gets a boat....then they will have fulfilled my prophecy.