Flipping a watch

[AK797]

Originally Posted by mrblue

Has the forum declared flipping a crime?

I think us older timers would like to as this is a watch hobby forum, but I guess we have to accept that most new timers are going to have a large money element on their mind, so it's a bit churlish to live in the past, but I think we should still put an emphasis on buying the watches for how they look and make you feel over how much they make you bank.

[AK797]

Originally Posted by justdate

Also I don’t think any of these watches are hard to get, they are just hard to get really cheap. If you price anything way below market you will have a huge list of people wanting to buy it. See what happens when you list your £1m house for £500k and the obvious confusion that ensues, ‘genuine’ buyers so upset they missed out, the inevitable anger at the flipper who bought it and sold it the next day for a big profit, etc. The issue is just Rolex underpricing their watches, it’s obvious what happens when you do that.

I don’t think anyone can complain about it as like it or not, the market price is the true price and it’s easy to go out and buy one at that price today. Think it’s too expensive? Don’t buy it, vote with your money and buy something else. But don’t think you have an entitlement to get a watch at massively below the fair value, and don’t be mad if anyone else does get one cheap, regardless of what they do with it. Whoever buys it is getting instant profit, regardless of if they sell it or not. Whether you convert that profit into cash or keep it as a more expensive watch than the price you paid doesn’t make a difference. It’s still free money.

This is true now but was not so before Brexit as most SS Rolexes were market priced at 10-20% below retail, so it is the world of demand that has suddenly changed all around us to make them seem cheap, not the retail price of the watches themselves, so as is natural many members are still living in the past with regards to market and AD pricing, or believing this is all empty hype and not sustainable.

[dwjez14]

Originally Posted by DP63

In my opinion, a flipper is someone who buys a watch specifically to sell it for a profit and nothing else.

I measure this by the fact that they would not buy the watch had it been freely available.

Buying a watch and not "feeling" it after a few weeks/months etc, is totally different, and although the terminology used is the same (flip the watch for A.N
Other) its nothing like the aforementioned in my book.

I think this is a great answer

[tyler1980]

Originally Posted by AK797

I think us older timers would like to as this is a watch hobby forum, but I guess we have to accept that most new timers are going to have a large money element on their mind, so it's a bit churlish to live in the past, but I think we should still put an emphasis on buying the watches for how they look and make you feel over how much they make you bank.

its sad when old timers can refer to members here <2 years yearning for the good old days... its like dog years in here. You would think this has been going on forever

[Gaijin]

I'm a flipper. Not for profit. Heaven knows I've lost my in this hobby.

I just like the thrill of a new watch and usually one in means one out.


People who buy a hard to get Rolex model and immediately put it up for sale at an inflated price to me are entitled to do so. People who go out to ADs constantly seeking out only hard to get models to make a buck is not my style.

If an AD offered me a SS Daytona at list I'd buy it. I'd sell it. I'm not a fan. But I'm not going to walk into or call every AD I can to try and score something to flip for money.

[Kaioken x20]

You're embarassing yourself.

Originally Posted by DoDe

It is really sad that so many belive that everything is ok if you can call it smart business. It is not.

[CDNWatchNut]

Originally Posted by blown5.0

I think you will get different meaning from different people. I categorize a flipper as someone who buys with the intent of selling for a profit. Typically, this person has done this more than once.

And at some point, these people go from being bad guys, known as flippers to good guys, known as Trusted Sellers...

[jrbar-on]

Originally Posted by DP63

In my opinion, a flipper is someone who buys a watch specifically to sell it for a profit and nothing else.

I measure this by the fact that they would not buy the watch had it been freely available.

Buying a watch and not "feeling" it after a few weeks/months etc, is totally different, and although the terminology used is the same (flip the watch for A.N Other) its nothing like the aforementioned in my book.

I have had many a watch that I purchased and then sold/traded sometimes in as little as 3 weeks. I did not (and do not) do this for profit, it is just that for some reason or another I didn't like the watch I was getting rid of (e.g. it was too large/small, not enough lume, uncomfortable, ...). I figure that I'm lucky if I don't lose anything in the sale/trade and if I happen to make a profit, it usually goes to the wife.

Cheers,

Jonathan

[awol123]

I like the word Scalper

[DoDe]

Originally Posted by Kaioken x20

You're embarassing yourself.

[Fish220sr@aol.com]

Originally Posted by dwjez14

I think this is a great answer

Quote:
Originally Posted by DP63
In my opinion, a flipper is someone who buys a watch specifically to sell it for a profit and nothing else.

I measure this by the fact that they would not buy the watch had it been freely available.

Buying a watch and not "feeling" it after a few weeks/months etc, is totally different, and although the terminology used is the same (flip the watch for A.N
Other) its nothing like the aforementioned in my book.

Took a look today at the Rolex Watches for Sale Forum and noticed a brand new end of Feb.'19 Hot watch being listed for more than double MSRP. For some reason ,even though I have gone gray as a buyer,it pisses me off to no end to see such blantant profiteering.
I have had my own business for 40+ years.I understand the capitalistic system.What is fair mark up? Whatever traffic or the market will bear? I guess am hung up on paying over list, and seeing the Flip deal so starkly listed here on the Forum.Appears to be an interloper with minimal class.Not even a hint of lube.

I know.Stop bitchin'. If it grinds my jaw so much I should not feed the grays myself. Rolex see's this going on and leaves $ on the table.Guess Rolex figures they as a company are already doing fine at MSRP. Let the scalpers pick up the scraps and get their taste.
Can not have it both ways.Still pisses me off.
Apologize for the circular rant.