Rolex Selling Profits

[Hanze]

Another question directed to “part-time dealers” I’ve always been curious of how much profit can you make per watch sale or yearly selling on your free time. I’m asking this because given the opportunity two local jewelers would allow me to sell watches for them, both always wanted nothing to do with the online market, so before I invest time in this would just be nice to know if it’s actually worth it in the long run, also would like input on risk factor involved if possible I’ve heard some transactions can be disastrous.

Thanks.

[Hanze]

Originally Posted by W1N

mega moneyz.

Depends what your overheads are for one. How much you can sell over cost for 2. I highly doubt you will get a straight answer for 3.

“Mega moneyz” LOL I like that one. Thank you for the reply.

[Snow-Dweller]

I wouldn’t even consider it without a very solid knowledge of watches.

[Hanze]

Originally Posted by Snow-Dweller

I wouldn’t even consider it without a very solid knowledge of watches.

I wouldn’t call myself an expert but it has been a hobby of mine for the past couple of years. Just wouldn’t want to pass up on an opportunity.

[fsprow]

I make 20-30K$ per year selling watches as more or less a hobby. I have a friend in Vietnam who comes up with some interesting watches at a good price. He has had trouble selling them directly due to his location so I'm a help to him.

After negotiating a price I have him send the watch to a watchmaker friend in Dallas who was Rolex trained in Switzerland. He checks overall condition and validates that it is as represented (always has been). I pay him something but he really does this as a favor as I take him to the gun club of which I am a member. Once validated I wire transfer him the agreed funds.

During the US 2008-2009 recession I also purchased several Daytonas and Pateks and resold them after five years or so at a good profit.

Knowing the market is really important. Several years ago in Paris I bought a very early Breguet Aviator for 2-3000$ and a similar watch recently sold at a Christies auction in Paris for about $50,000. Lucky but I knew what to look for.

Best, Frank

[BT1985]

If you are selling for profit you cant fall in love with watches. That’s why net i am even money at best. I buy a watch, wear it, if after two weeks i love it then it stays and if not i move on. Sometimes into a “hot” watch and sometimes into one that i take a bath on when i sell. It’s all part of the process for me to calibrate to what i like best.


Sent from my iPad using Tapatalk

[Thanos]

Its so easy that everyone does it. Kind of like buying/flipping houses.

Go for it.

[greengold]

Sometimes you cant know what will happen. I sold an Omega Silver Snoopy Award I paid retail £4360 for £8000..now they are going for $20000

[pepsiretail]

Hanze has a question for us all,
How much cash can he make selling in Montreal?

He wants to know a couple of things,
Is the risk worth the profit it brings?

Mega moneyz was ones reply,
He was intrigued, and raised an eye,

Like a moth drawn to the flame,
He wants to rush and join the game,

I might have insights to help him fully,
If he wants advice from a bully,

Many say to follow your passion,
Is it there or just the fashion?

Only time will tell ultimately,
Give it a try and you will see.

[Oldfellow]

Originally Posted by pepsiretail

Hanze has a question for us all,
How much cash can he make selling in Montreal?

He wants to know a couple of things,
Is the risk worth the profit it brings?

Mega moneyz was ones reply,
He was intrigued, and raised an eye,

Like a moth drawn to the flame,
He wants to rush and join the game,

I might have insights to help him fully,
If he wants advice from a bully,

Many say to follow your passion,
Is it there or just the fashion?

Only time will tell ultimately,
Give it a try and you will see.

Very clever

[Hanze]

Originally Posted by pepsiretail

Hanze has a question for us all,
How much cash can he make selling in Montreal?

He wants to know a couple of things,
Is the risk worth the profit it brings?

Mega moneyz was ones reply,
He was intrigued, and raised an eye,

Like a moth drawn to the flame,
He wants to rush and join the game,

I might have insights to help him fully,
If he wants advice from a bully,

Many say to follow your passion,
Is it there or just the fashion?

Only time will tell ultimately,
Give it a try and you will see.

I enjoyed reading this reply. Thank you.

[miamiclay]

This sounds like it may be a better opportunity than most for the OP. S/he says two local jewelers do not want to deal with online sales, so it may be that they, with their expertise, will handle all the buying, and s/he only presents their watches and sells their inventory online.

If s/he is not buying watches, but only receiving a percentage of the sales s/he makes online from the jewelers’ existing and future stock, then it may be that all s/he stands to lose is time. Presumably the OP would also be allowed to buy and sell on their own account, which has all the risks mentioned. There would have to be an arrangement with the jewelers regarding guarantees and returns/refunds, but it seems to me this may have some potential.

[pepsiretail]

Originally Posted by Hanze

I enjoyed reading this reply. Thank you.

You are welcome Hanze. Best of luck.

[Hanze]

Originally Posted by miamiclay

This sounds like it may be a better opportunity than most for the OP. S/he says two local jewelers do not want to deal with online sales, so it may be that they, with their expertise, will handle all the buying, and s/he only presents their watches and sells their inventory online.

If s/he is not buying watches, but only receiving a percentage of the sales s/he makes online from the jewelers’ existing and future stock, then it may be that all s/he stands to lose is time. Presumably the OP would also be allowed to buy and sell on their own account, which has all the risks mentioned. There would have to be an arrangement with the jewelers regarding guarantees and returns/refunds, but it seems to me this may have some potential.

Not a percentage but like all re-sellers their list price is not a final sale price, so my goal would be to sell for what they are listed for and give the jewelers a couple of hundred dollars less, in my opinion that would be the fair way to go, for my time and work put it also yes I can decide which watches to sell but there lies a conflict of interest as the watches can equally be sold in house so I can have a potential buyer while 5 minutes later someone picks it up at the store also I am 100% accountable for a deal gone awry. Thanks.

[Hanze]

Originally Posted by Thanos

Its so easy that everyone does it. Kind of like buying/flipping houses.

Go for it.

I can see that , I also see a lot of trust issues when buying online and scammers are becoming a lot more prominent as the days go on; so I feel like it would be a little difficult coming into this while there are so many already established sellers . Unlike flipping houses. Thanks for the reply.

[pkincy]

You would need a way to check inventory when your customer agrees to buy and they would need to pull the watch from the case for the 24 hours or so it would take for the transaction/CC to be finished. Would they be handling payment for you over the phone with CC. That keeps you out of the money trail. In that case $2-300 a watch seems good. If you have to handle money than it is a different story.

[Hanze]

Originally Posted by pkincy

You would need a way to check inventory when your customer agrees to buy and they would need to pull the watch from the case for the 24 hours or so it would take for the transaction/CC to be finished. Would they be handling payment for you over the phone with CC. That keeps you out of the money trail. In that case $2-300 a watch seems good. If you have to handle money than it is a different story.

No, I would be handling the transaction from start to finish. Including money.

[Hanze]

Also I do appreciate everyone’s input

[Old Expat Beast]

Originally Posted by Hanze

Another question directed to “part-time dealers” I’ve always been curious of how much profit can you make per watch sale or yearly selling on your free time. I’m asking this because given the opportunity two local jewelers would allow me to sell watches for them, both always wanted nothing to do with the online market, so before I invest time in this would just be nice to know if it’s actually worth it in the long run, also would like input on risk factor involved if possible I’ve heard some transactions can be disastrous.

Thanks.

You won't be doing any selling here, then. As the rules state: "Any item listed must be legally owned by you and in your possession at the time you list it." Just FYI

[Hanze]

Originally Posted by Old Expat Beast

You won't be doing any selling here, then. As the rules state: "Any item listed must be legally owned by you and in your possession at the time you list it." Just FYI

Thank you for the heads up, if the jeweler gives me the right to sell watches on their behalf as an employee also their info equally placed on the listing to cover all the bases to avoid any potential misinformation would that be acceptable ? I can imagine there are several real stores that post on here. I am not trying to by pass any rules you have and I completely understand why this one specifically is put in place.

[Old Expat Beast]

Originally Posted by Hanze

Thank you for the heads up, if the jeweler gives me the right to sell watches on their behalf as an employee also their info equally placed on the listing to cover all the bases to avoid any potential misinformation would that be acceptable ? I can imagine there are several real stores that post on here. I am not trying to by pass any rules you have and I completely understand why this one specifically is put in place.

PM received and replied to