Starting to trade, buy and sell.. advice welcomd

[VogelPhoenix]

Some options for OP's business:
1) Time. Everyone's a genius while the bubble inflates, be it internet stocks, crypto, Tesla, watches,... Missed the boat there, IMO.
2) Connections. Any family or at least best friend's family, that are distributors, ADs, upper management in the watch industry? Doesn't sound like it.
3) OPM. Other people's money - any rich friends/family/business partners that want to bankroll your ventures? Share the profits, move on from the losses. Starting with our own savings can only end in tears.
4) Skills. Do you have the education/experiences to evaluate authenticity, cosmetic and mechanical condition of watches? Ability to fix mechanical or cosmetic issues, or at least access to someone with these skills willing to collaborate? Are you a good negotiator, on the buy or sell side?
5) Risk. The reason TRF's favorite trusted sellers can buy low and sell high is the low risk option they represent for buyers and sellers, combined with experience (and turnover) that allows them to manage their own risk. To compete, you'll have to take more risk on a buy and sell side. One PM Rolex deal gone sideways (on either side) could easily wipe out a quarter of your savings.

Unless you can reasonably argue to have an edge in any of the areas above, my advice would be to stick with a real job and treat watches as a hobby, not an asset class to be traded for profit.

[TswaneNguni]

Originally Posted by Ssupreme1995

Best way to get into trading, buying and selling?

Metaverse

[fskywalker]

Originally Posted by Fritzli

I think it`s time for Padi to answer the OPs question!

Sent from my iPhone using Tapatalk Pro

[PepsiBezel]

Originally Posted by Ssupreme1995

Just think it’s important to think and discuss about what a fair deal is in this market. Can’t base it off 2 forum posts with Daytonas for sale. Whether flipping holding or selling, what is something I can use to generate an average market price? What sites or forums are people using??

Try watchcharts.com

[rum77]

Originally Posted by SAAS

A time machine would help

[258Pearl]

Want to know the best way to make a small fortune trading?....

... start with a "large" fortune

[NachoNeal]

Have you considered stamps, baseball cards or snow globes?

[Chris]

Originally Posted by fskywalker

Sent from my iPhone using Tapatalk Pro

Have to agree 100% I sometimes wonder with some of the posts on forum like the original posters, but today with many now Rolex watches are ££$$€€ object things and little more.

Padi's reply

[superpop]

If you are seriously just looking for a valuation on a watch that you want to buy, Ebay sold listings is a good place to start. With Rolex in particular your best bet is to start with an AD and identify one piece that you want and then wait, then if they ever call you, go buy it and then express interest in another specific piece. Do not be the tool that walks into random AD's and askes if they have any SS pieces for sale. Most AD's are smart enough to see right through the BS and will shut you down if they think you are just buying something to flip it. Watch flippers are like realtors, a lot of them get into the business because they think it is easy money. It is a grind and most wash out.

[Cp827]

Originally Posted by jimcameron

You have to be on the forum for a year before we can give you the secrets.

I thought it was 2 years

[beshannon]

Originally Posted by Cp827

I thought it was 2 years

It is two years on the waiting list, then another year to get the info

[Al1969]

Originally Posted by beshannon

It is two years on the waiting list, then another year to get the info

[javier]

Buy very low - Sell low.
It works

[Wee-Willie]

It's like a Twilight Zone episode I watched.
Thiefs robbed a fortune in gold, went into the desert & were somehow frozen..to be awaken in 100 years. The were dying in the desert & the last 1 was found, begging for water & willing to trade gold. The people in the future couldn't understand what was so special about gold..in their (future) time, gold was just a rock, worthless with no value.

Who knows what watches will be worth 10,20 or 100 years from now. Just buy what you want & love, & be happy!!

[NachoNeal]

Originally Posted by Wee-Willie

It's like a Twilight Zone episode I watched.
Thiefs robbed a fortune in gold, went into the desert & were somehow frozen..to be awaken in 100 years. The were dying in the desert & the last 1 was found, begging for water & willing to trade gold. The people in the future couldn't understand what was so special about gold..in their (future) time, gold was just a rock, worthless with no value.

Who knows what watches will be worth 10,20 or 100 years from now. Just buy what you want & love, & be happy!!

The Rip Van Winkle Caper. Suspended animation for 100 years. A classic.

[garyk]

OP, you've got to promise not to share this secret with anyone outside of TRF.


Buy low, sell high...Now go get em!!!

[NachoNeal]

Originally Posted by garyk

OP, you've got to promise not to share this secret with anyone outside of TRF.


Buy low, sell high...Now go get em!!!

I wish I had consulted with you earlier. I could have saved myself a lot of grief and financial hardship!

[garyk]

Originally Posted by NachoNeal

I wish I had consulted with you earlier. I could have saved myself a lot of grief and financial hardship!

[Speedsleev]

With all due respect, if you have to ask these questions to begin with, you may be off to rough start and that $200k may be in trouble.

Best of luck and like a few other people mentioned, welcome to the TRF.

[AaronMST]

I bought my black submariner for $5000 from a friend in 2015. That was a decent deal. I think decent deals are long gone on the secondary / used market.

[1665fan]

Stop before you start…..

[Wahlberg]

Originally Posted by Ssupreme1995

HOW DO WE KNOW IF WE ARE GETTING A GOOD / FAIR DEAL? No different then me going to buy a car. I can plug in the VIN into KBB or carmax and get a value. Anything like this for watches?

Clueless people entering this market. Go figure.

Grey dealers don't get good deals. You buy at market prices and you just add another 3k to it, rinse and repeat until the prices are completely ridiculous and bloated.

[Chris]

Originally Posted by Wahlberg

Clueless people entering this market. Go figure.

Grey dealers don't get good deals. You buy at market prices and you just add another 3k to it, rinse and repeat until the prices are completely ridiculous and bloated.

[Maxdad]

Originally Posted by Ollie1982

If you need a watch, buy one. If you are looking to get into 'trading' then you have come to the wrong place.

Come here to talk about watches, not buying and selling them. This forum is full of collectors, people who are passionate about watches. People with no interest in horology and use watches as a side hustle are a stain on this hobby, and quite frankly ruin it for true enthusiasts.

Leave the trading to the stock brokers.

Oh yeah, welcome to the forum!

100%.....you've walked into the wrong room buddy.

[Easy E]

In today's climate if you are buying on the secondary you are not getting a "good deal," period. You may be able to find something at or just below average, but the average is whacked bad today. There is not really a KBB for watches. That request reeks on a broad range of points. As MR. beshannon mentioned this takes time and research to develop an understanding of various brands and model price points.

In all fairness, giving you the benefit of the doubt chrono24 will give you a high level view of price ranges on a particular piece. There are several secondary trusted sellers listed in the FS section on this forum, each of them have their own dedicated web site, check in on those daily. This will help you start to build an understanding of current trends.

If you want a watch and can't get one from an AD, which is very unlikely, just go buy it. In 5 minutes you can know if the price is anywhere near "reasonable." If you are trying to parlay a wad of cash into a bigger wad of cash by flipping watches I would bet that you are likely to get smoked, real bad. Your posts don't really demonstrate a love of watches and you are very late to the watch flipping party.

[gerryb92]

Far too much negativity on this forum.

[macrowatch]

OP, congrats on saving a 200k bankroll. That is quite a feat in and of itself.

You must have been disciplined and smart to get there.

Is this really the best opportunity for your side hustle or new entrepreneurial venture? If it is, good luck!

Dominate and be different than the existing entrenched incumbent competitors.

[Nikrnic]

Market is hot. You might save yourself a lot of stress from selling or trading and find a dealer, jewelry store that are buying Rolex. You will leave a little money on the table but worth it by having no hassle and worry.

Sent from my SM-G970U using Tapatalk

[Tikandtokalot]

Originally Posted by 258Pearl

Want to know the best way to make a small fortune trading?....

... start with a "large" fortune

[Meyrin]

Originally Posted by Ollie1982

If you need a watch, buy one. If you are looking to get into 'trading' then you have come to the wrong place.

Come here to talk about watches, not buying and selling them. This forum is full of collectors, people who are passionate about watches. People with no interest in horology and use watches as a side hustle are a stain on this hobby, and quite frankly ruin it for true enthusiasts.

Well said, Ollie!