Starting to trade, buy and sell.. advice welcomd

[Ssupreme1995]

Best way to get into trading, buying and selling?
I have capital to trade, buy and sell. Located in SoCal, markets hot for watches but also makes it harder to come across a decent deal.
To be clear.. I want to be a collector and add to my collection. I want to be able to trade or sell in addition for new watches or different ones.

Where are most collector , traders and enthusiasts buying from to get a “decent deal”?

I was under the impression if you buy something directly from an AD and resell or trade (AP, Rolex, Patek) you’re barred from getting anything else. You have to wait a minimum of 2 years.

With that being said… what’s reccomended? Where do I start?
For all of you who trade.. how do you feel you’re getting a good deal and where are you getting the “market value”?
Thanks

[Fritzli]

That`s "the secret"! Nobody will give you an honest answer to this kind of naive question!

[dontbeshort]

You might get the “Foxtrot Oscar” treatment from here !

[drrd]

Anthony Farrer has done a video on how to get started.

[Ollie1982]

Originally Posted by Ssupreme1995

Best way to get into trading, buying and selling? 200k capital roughly

I have about 200k capital to trade, buy and sell. Located in SoCal, markets hot for watches but also makes it harder to come across a decent deal.

Where are most collector , traders and enthusiasts buying from to get a “decent deal”?

I was under the impression if you buy something directly from an AD and resell or trade (AP, Rolex, Patek) you’re barred from getting anything else. You have to wait a minimum of 2 years.

With that being said… what’s reccomended? Where do I start?
For all of you who trade.. how do you feel you’re getting a good deal and where are you getting the “market value”?
Thanks

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!

[PhilippeD]

Originally Posted by Ssupreme1995

Best way to get into trading, buying and selling? 200k capital roughly

When you're talking about watches, it's not investing but speculating.

[BLNR Nairobi]

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!

Hear! Hear!

Great response.

[BLNR Nairobi]

Originally Posted by Ssupreme1995

Best way to get into trading, buying and selling? 200k capital roughly

I have about 200k capital to trade, buy and sell. Located in SoCal, markets hot for watches but also makes it harder to come across a decent deal.

Where are most collector , traders and enthusiasts buying from to get a “decent deal”?

I was under the impression if you buy something directly from an AD and resell or trade (AP, Rolex, Patek) you’re barred from getting anything else. You have to wait a minimum of 2 years.

With that being said… what’s reccomended? Where do I start?
For all of you who trade.. how do you feel you’re getting a good deal and where are you getting the “market value”?
Thanks

Serious response.

Unless you really know what you’re doing it’s an easy way to lose $200K. A lot of the ‘hit YouTube grey dealers’ were actually selling on the secondary market for many years before they became YT sensations. Which means they had earned a lot of experience, networks and understanding of the business. Whether it was where to get a ‘decent deal,’ how to ensure that ‘decent deal’ was not a fake watch, how to manage inventory, etc.

Sure - some people like Anthony Farrer/TPG/MassageDude seem to have shot up quick, but 1) I personally wouldn’t buy a watch from him and 2) he had ‘sponsors’ supporting him.

So - serious response, if you have to ask the questions you’re asking on a forum then that means you should spend your $200K on something else. I’m not saying that as an insult by the way. Save your money or invest it in something else.

[Ssupreme1995]

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!

No one “needs” a watch. If we needed one, we’d get a $10 one off Amazon. I want to continue building a collection but with this current market I need to make sure I get a good deal. A deal where I can sell or trade and get the same or more value. Quite often, I see on these forums x model for sale but not sure if it’s a fair price or not. I’m asking where people check actual market values vs 1-2 watches for sale here on the classifieds forum.
A watch (Rolex , AP, Patek), like Realestate or a classic car are an asset. They hold a value and prestige. The name Rolex is huge and I think paying the right price is very important whether holding, flipping or trading. Just important info that I think everyone wants to talk about.

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?

[Ssupreme1995]

Originally Posted by BLNR Nairobi

Serious response.

Unless you really know what you’re doing it’s an easy way to lose $200K. A lot of the ‘hit YouTube grey dealers’ were actually selling on the secondary market for many years before they became YT sensations. Which means they had earned a lot of experience, networks and understanding of the business. Whether it was where to get a ‘decent deal,’ how to ensure that ‘decent deal’ was not a fake watch, how to manage inventory, etc.

Sure - some people like Anthony Farrer/TPG/MassageDude seem to have shot up quick, but 1) I personally wouldn’t buy a watch from him and 2) he had ‘sponsors’ supporting him.

So - serious response, if you have to ask the questions you’re asking on a forum then that means you should spend your $200K on something else. I’m not saying that as an insult by the way. Save your money or invest it in something else.

See above response^. More of , where can we get a fair deal with these market conditions? Not looking to become the next Anthony or watch guru but definitely want good deals to do whatever with.

[Emery]

If you’re looking for a sign, this is it.

[Ssupreme1995]

Originally Posted by BLNR Nairobi

Serious response.

Unless you really know what you’re doing it’s an easy way to lose $200K. A lot of the ‘hit YouTube grey dealers’ were actually selling on the secondary market for many years before they became YT sensations. Which means they had earned a lot of experience, networks and understanding of the business. Whether it was where to get a ‘decent deal,’ how to ensure that ‘decent deal’ was not a fake watch, how to manage inventory, etc.

Sure - some people like Anthony Farrer/TPG/MassageDude seem to have shot up quick, but 1) I personally wouldn’t buy a watch from him and 2) he had ‘sponsors’ supporting him.

So - serious response, if you have to ask the questions you’re asking on a forum then that means you should spend your $200K on something else. I’m not saying that as an insult by the way. Save your money or invest it in something else.

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??

[Fritzli]

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

[Screwly]

This question should get some interesting answers!

Welcome to the forum OP

[jimcameron]

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

[chocopeluche]

find the best price for a piece and then take off like 5-10% and thats what the dealer paid for it.

People who I know that are good at flipping things are INCREDIBLY good negotiators on each side of the transaction. Way more aggressive than I would be but that also means you can't be picky and you have to be willing to walk.

[Chris]

Originally Posted by PhilippeD

When you're talking about watches, it's not investing but speculating.

[chocopeluche]

also, the reason there is a difference in retail vs wholesale is because individuals don't want to fuss around with the hassles of selling. If you can be easy-to-work with for enthusiasts looking to flip, and/or have inventory they can trade for, you'll be able to get prices at wholesale that you can sell for retail.

[padi56]

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!

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.

[Zyfon]

It starts with a genuine interest in the hobby. Many 2nd hand dealers I've talked to were, themselves, watch enthusiasts. Once you've done a few transactions, you'll quickly learn what 'a good deal' is. It might not always be monetary, but building trust and a network of potential clients for the future.

[thesharkfactor]

Start by messaging private sellers something along the lines of:

'what's the least you'll take mate?'

'what's the very least you are willing to accept?'

'I've got £8,500 cash and I can be there later today, mate'

'will you take £X?'

This is all I ever seem to get when I try advertise a watch myself. I always end up selling to a bricks and mortar store.

[THC]

1st thing you really should do is become a pledge member..

https://www.rolexforums.com/showthread.php?t=834483

[rmlovett1]

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??

If you want a “decent deal” as far as Rolex goes…..not much out there these days , unless you find them in private sales, or look at the most unpopular models.

[arche3]

At 200k start seed you can only afford the stainless sport models. If you go to watch shows and buy decent you can probably make 10% profit. That's 20k... after taxes? Not worth the effort.

Try to look for private sellers.. hard to do. You going to monitor for sale all day?

Again. Not worth it as a collector to try to be part time seller.

Sent from my SM-F711U using Tapatalk

[mfserge]

There is a Kelly Blue Book website for watches, but I can’t share it with you. You have to be a member of a secret society to get access to that data. Those of us in the society call it the Rollie Blue Book. If you start fishing around and asking about the Rollie Blue Book data someone may share it but it won’t be easy since we take a pledge of secrecy when joining. Good luck on your quest.

[JRell]

Fair and decent deals are at the ADs.

[DLRIDES]

Originally Posted by Ssupreme1995

Best way to get into trading, buying and selling?
I have capital to trade, buy and sell. Located in SoCal, markets hot for watches but also makes it harder to come across a decent deal.
To be clear.. I want to be a collector and add to my collection. I want to be able to trade or sell in addition for new watches or different ones.

Where are most collector , traders and enthusiasts buying from to get a “decent deal”?

I was under the impression if you buy something directly from an AD and resell or trade (AP, Rolex, Patek) you’re barred from getting anything else. You have to wait a minimum of 2 years.

With that being said… what’s reccomended? Where do I start?
For all of you who trade.. how do you feel you’re getting a good deal and where are you getting the “market value”?
Thanks

Do NOT take any advice from the resident “naysayers” !

With only $200K to invest, start with lesser brands, and gain momentum with your profits. Purchase $200K of Seiko 5 variations, start a YouTube channel, and develop a social media presence (IG, Facebook, TikTok, etc.). The initial ROI should propel you business into trading Patek Phillip and Richard Mille in record time !

Good luck !

[1William]

I would look to the watches that are classics and typically retain the the value and have the potential to increase. In Rolex it is the Daytona, GMT's, DD, Divers, mostly SS sport models but precious metal also surges but the risk is much higher for a market correction. I would find watches that I enjoyed wearing and buy slightly pre-owned and complete with box and papers. Get your best deal possible through negotiation and wear and then sell as the market moves, hopefully up. There are very few good deals to be had but you can find many fair deals. I would only deal with the big Trusted Sellers to start with as you can be sure that the watches are real and as represented. They will cost a little more but buy a fake from another dealer or seller and it will all be worth dealing with DavidSW, Tony, Chase, Patrick or Matt just to name a few. Good luck, give yourself time to learn and enjoy the watches.

[Giangos]

Originally Posted by DLRIDES

Do NOT take any advice from the resident “naysayers” !



With only $200K to invest, start with lesser brands, and gain momentum with your profits. Purchase $200K of Seiko 5 variations, start a YouTube channel, and develop a social media presence (IG, Facebook, TikTok, etc.). The initial ROI should propel you business into trading Patek Phillip and Richard Mille in record time !



Good luck !

I have never subscribed to a YouTube channel. But I’m willing to give this new channel a go


Sent from my iPhone using Tapatalk

[beshannon]

Originally Posted by Ssupreme1995

I want to be a collector and add to my collection.

Welcome to the forum.

Knowledge is what you need to become a collector and that takes time. Your post reads like you want to get the best possible deals for everything all the time. You need to understand watches, brands, economics, sentiment, hype, advertising, trends and finally people.

I wish you luck.