new way to sell rolexes?

[schwartz914]

http://www.ablogtowatch.com/stockx-l...-sales-online/

[MattyL147]

Very interesting to see StockX in this space. I've purchased sneakers on StockX before. The way a sneaker sale works is that a buyer places a bid against a seller's ask. Once a price is agreed upon, the sale occurs and the buyer pays. StockX doesn't release the funds to the seller until StockX receives the sneakers and verifies their authenticity. Once verified, StockX releases the funds and passes on the sneakers to the buyer. There is complete anonymity between the parties to the transaction.

I'm not sure how comfortable I would be with purchasing a watch in this manner. If the watch sale works the same way the sneaker sale works, I would hope that the individuals inspecting the watches are qualified to do so and not the sneakerheads that they already have working there.

Interesting none the less.

[locutus49]

Interesting.

[Speed]

I agree it is intriguing.

Only two photos per watch - from the two I looked at. Not really enough to judge for oneself the total condition. I am thinking of David SW's multiple / multi-angle closeup pics which take some of the guesswork out of things. That - and his reputation of course.

[toxicavenger]

Crap.

[faimag]

One problem with this platform has to do with second hand watches. Sure, they can authenticate, but how can one evaluate and describe the condition with terms that are clear and understandable by all? "Mint" means a different thing to different people. A polished watch or a service dial looks "newer" but some prefer unpolished examples and original worn dials. Over-polishing reduces lug bevels and thickness of lugs and crown guards, but if one is not aware of how the case *should* look, one can miss these when describing the watch's condition. A lot of little details like that make this platform not so attractive; at least for me.

Now, for new/unworn watches, I wouldn't mint it.

[MattyL147]

Originally Posted by faimag

One problem with this platform has to do with second hand watches. Sure, they can authenticate, but how can one evaluate and describe the condition with terms that are clear and understandable by all? "Mint" means a different thing to different people. A polished watch or a service dial looks "newer" but some prefer unpolished examples and original worn dials. Over-polishing reduces lug bevels and thickness of lugs and crown guards, but if one is not aware of how the case *should* look, one can miss these when describing the watch's condition. A lot of little details like that make this platform not so attractive; at least for me.

Now, for new/unworn watches, I wouldn't mint it.

If the watch selling portion of the site is the same as the sneakers, its only for selling brand new pieces. They do not deal with any pre-owned (sneakers).

[ejvette]

hmmmm interesting

[Bob the brush]

It's a new concept for me, I will have to see it in action before I can express an opinion. Sound interesting though.

[artschool]

I hope their insurance is good

[jschmidtdmd]

This is going to be very interesting.

I personally think it will shake up the market a bit. This market is very fluid and moves quickly. Often faster than most believe.

Once they get inventory and can figure out to rate condition, I could see this throwing a wrench in sales and the grey market values.

[MattyL147]

Originally Posted by jschmidtdmd

This is going to be very interesting.

I personally think it will shake up the market a bit. This market is very fluid and moves quickly. Often faster than most believe.

Once they get inventory and can figure out to rate condition, I could see this throwing a wrench in sales and the grey market values.

They do not stock inventory.

[jschmidtdmd]

sorry, I meant listings....I have used them many times for sneakers.

[Quailhunter]

I cannot imagine Stockx maintaining a staff with expertise in fine watches sufficent enough to spot fakes and to accurately evaluate condition.

[Tampashooter]

I'm more stunned that idiots pay that much for sneakers.

[And1dre]

Originally Posted by Tampashooter

I'm more stunned that idiots pay that much for sneakers.

I've bought sneakers from StockX before. People might say we're idiots paying so much for a wrist watch...

Anyways, this is interesting but I don't think I would ever purchase a watch through them.

[Tampashooter]

Originally Posted by And1dre

I've bought sneakers from StockX before. People might say we're idiots paying so much for a wrist watch...

Anyways, this is interesting but I don't think I would ever purchase a watch through them.

I meant everyone,but you.

[And1dre]

Originally Posted by Tampashooter

I meant everyone,but you.

[Bigsykedaddy]

Pretty cool, I've sold a few pairs of shoes through them. I prefer GOAT over Stockx but this is cool nonetheless

Originally Posted by Tampashooter

I'm more stunned that idiots pay that much for sneakers.

Shhhhh! Those are my customers

[toxicavenger]

Originally Posted by Tampashooter

I'm more stunned that idiots pay that much for sneakers.

This is very subjective. The same could be said about everything.

[MattyL147]

Originally Posted by And1dre

I've bought sneakers from StockX before. People might say we're idiots paying so much for a wrist watch...

Anyways, this is interesting but I don't think I would ever purchase a watch through them.

Ive bought and sold on stockx and goat. Some may say we're idiots, but we could say the same about people spending lots on other items. The sneaker world is interesting for sure.

[33JS]

Originally Posted by Tampashooter

I'm more stunned that idiots pay that much for sneakers.

Amen!

Sent from my SM-G355H using Tapatalk

[HKS724]

I'm very curious about this as well. But here's the problem with StockX's model and it directly affects the buyer: they don't physically hold any inventory until a sale is made on their website. For example, there are 5 Asks on, say, a GMT 16170 (there are 5 sellers of this watch), the two photos aren't even of the actual watch you're going to receive/place a Bid on. And StockX doesn't even know what they'll get. It is only after either a Bid or Buy is accepted, that the watch is then shipped to StockX by the seller for authenticating (2 day window).

What I know for sure when it came to authenticating sneakers at StockX: When something turns up in the authentication process (fake, or used, or both), they simply tell the bidder sorry, refunds their money, and gives them a coupon code (whopping $13.95 value) for free shipping on their next purchase. StockX will then charge the seller 15% of the purchase for their headache. I'm guessing they ship the sneakers back to the seller, on who's dime, I'm not sure.

There are a lot of, frankly, lazy disclosures on the watches as well. When I emailed them with some general questions about their newly minted watch exchange (box and papers, actual photos of the watch I'm buying, condition, polishing, etc.) they pointed me to their FAQs.

FAQs on condition from their website.
http://help.stockx.com/general-infor...he-watch-be-in

They turned the "Box & Papers" Question into an FAQ, hah!
http://help.stockx.com/buying-on-sto...ith-box-papers

General Buying FAQ
http://help.stockx.com/buying-on-stockx

[Andad]

Originally Posted by Tampashooter

I'm more stunned that idiots pay that much for sneakers.

Research is you friend.

Fortunes are being made selling sneakers.

[HKS724]

This is true. And from an investment standpoint (risk/reward), us watch collectors may be the fools.

Originally Posted by directioneng

Research is you friend.

Fortunes are being made selling sneakers.