Watch flippers are clumsy and neurotic

[Valedictorian]

I honestly pity the folks that buy watches solely for speculative purposes. They hop on the bandwagon by all flocking towards the same 20-25 pieces, and in the process artificially increasing the prices of not only those, but pretty much every watch that could be an alternative. Prices of some references are so high nowadays that well-willing owners either have to hide them under their sleeve for fear of being mugged or have no other option than to keep them in a vault because you can’t possibly enjoy a watch that is nearing the value of small (or, depending on country, even big) real estate.

Meanwhile, those flippers are so clumsy: they anticipate a watch to be discontinued and therefore pay a ridiculous premium about 2-3 months ahead of April of each year, then attempt to dump them at unprecedented prices if indeed discontinued (of course, many of them can’t dispose of the watch because everyone else is trying the same thing at the exact same time) or, if discontinuation was fake news, neurotically seek to either trade up/down, hold on to it, or accept a financial loss along with incurring a dent in their ego thanks to their ‘genius plan’ and end up listing the watch for sale. Some of those listings are bumped up endlessly but no one bites.

The result of this clumsiness is that mass-produced Submariners are now consistently at 40% premium or more, and more refined (read: fragile) steel sports watches easily exceed a 250% premium. There’s even a quartz one that markets for around $90k now - a watch that won’t properly work after two or three decades, so you can’t pass them on to your kids, unless you like bad dad-jokes.

When you ask a flipper what the justification is of his ludicrous asking price, he points to Chrono24 as the benchmark - a place where many watches are most likely not in stock and/or inflated by at least 20% to accommodate for fees, ignorance, greed, and the negotiation buffer (noblesse oblige). I’m being very conservative with this 20% estimate as I’ve seen recent releases that are generally unwanted by your average WIS with a 250% mark-up.

Most vintage watches don’t have box nor papers anymore because people back then actually bought the watch for enjoyment and couldn’t care less about market value. Kudos to those here that are in that camp. I know many of you are.

[Marcjvr]

Flippers are living in way too many peoples heads around here

Don’t hate the players. Hate the game!!

[Deepseadoug]

Want some cheese with all that wine?

[stmoore]

Derp

[Pw92676]

I don’t think flipping is a get rich quick strategy. I don’t like them but I don’t care as much as you. Take a deep breath man. These are just watches.

[hambone1983]

now I feel sorry for "flippers" since they overpay for watches and then either can't sell them or take a huge loss after paying the chrono24 vig. It's a wonder how there are so many of them since apparently there's no way to make any money doing it

[horseShu]

I think scalping has increased these past few years because of the internet.

And not just watches. Anything that are remotely popular and desired, are potential avenues of scalping and profit.

Only solution is to vote with your wallet. Don't buy; stick to retail.

[1665fan]

Originally Posted by Deepseadoug

Want some cheese with all that wine?

Agree...flippers are a necessary part of the game....I don’t like them either

[EEpro]

Yes, this is a major issue that could result in serious frustration for guys that want something that no one actually needs.

I'm annoyed with the prices. Prefer to spend my money on other brands... and surprise surprise, they are just as good and better.

[Benzsiam]

I don't know any flipper, all I see is the secondary market dealer. I never buy anything from them yet, I got all my new timepieces from AD/boutique. I don't have any feeling against them, they are just regular people that try to make a living just like everybody.

It's just a watch, don't be too serious, there are plenty of good timepieces from many brands that ready available for you to buy.

[Gab27]

You think it's bad now? Wait till they start stealing everyone's cattle in the middle of the night...

[EEpro]

Originally Posted by Gab27

You think it's bad now? Wait till they start stealing everyone's cattle in the middle of the night...

To heck with the night, I saw videos of daytime theft.

[Gab27]

Originally Posted by EEpro

To heck with the night, I saw videos of daytime theft.

They are getting bolder by the day. Soon we're going to see $400,000 gray market Daytonas and black market steaks.

[VonSomething]

Originally Posted by Valedictorian

I honestly pity the folks that buy watches solely for speculative purposes. They hop on the bandwagon by all flocking towards the same 20-25 pieces, and in the process artificially increasing the prices of not only those, but pretty much every watch that could be an alternative. Prices of some references are so high nowadays that well-willing owners either have to hide them under their sleeve for fear of being mugged or have no other option than to keep them in a vault because you can’t possibly enjoy a watch that is nearing the value of small (or, depending on country, even big) real estate.

Meanwhile, those flippers are so clumsy: they anticipate a watch to be discontinued and therefore pay a ridiculous premium about 2-3 months ahead of April of each year, then attempt to dump them at unprecedented prices if indeed discontinued (of course, many of them can’t dispose of the watch because everyone else is trying the same thing at the exact same time) or, if discontinuation was fake news, neurotically seek to either trade up/down, hold on to it, or accept a financial loss along with incurring a dent in their ego thanks to their ‘genius plan’ and end up listing the watch for sale. Some of those listings are bumped up endlessly but no one bites.

The result of this clumsiness is that mass-produced Submariners are now consistently at 40% premium or more, and more refined (read: fragile) steel sports watches easily exceed a 250% premium. There’s even a quartz one that markets for around $90k now - a watch that won’t properly work after two or three decades, so you can’t pass them on to your kids, unless you like bad dad-jokes.

When you ask a flipper what the justification is of his ludicrous asking price, he points to Chrono24 as the benchmark - a place where many watches are most likely not in stock and/or inflated by at least 20% to accommodate for fees, ignorance, greed, and the negotiation buffer (noblesse oblige). I’m being very conservative with this 20% estimate as I’ve seen recent releases that are generally unwanted by your average WIS with a 250% mark-up.

Most vintage watches don’t have box nor papers anymore because people back then actually bought the watch for enjoyment and couldn’t care less about market value. Kudos to those here that are in that camp. I know many of you are.

Out of curiosity, what changed in the last few months since you made the below post?

"Hi everyone

Question to the WIS amongst us: do you expect the original Kermit to increase in value? I have the opportunity to purchase a NOS one with stickers for USD 21k. Does it make sense to do that for long term speculative purposes?

Thanks
V."

(Source: https://www.rolexforums.com/showthread.php?t=762627)

[Andad]

Originally Posted by stmoore

Derp

Pushing your luck?

[Andad]

Originally Posted by VonSomething

Out of curiosity, what changed in the last few months since you made the below post?

"Hi everyone

Question to the WIS amongst us: do you expect the original Kermit to increase in value? I have the opportunity to purchase a NOS one with stickers for USD 21k. Does it make sense to do that for long term speculative purposes?

Thanks
V."

(Source: https://www.rolexforums.com/showthread.php?t=762627)

Can flippers hate flippers?

Only when it suits them.

[EEpro]

Originally Posted by Andad

Can flippers hate flippers?

Only when it suits them.

Flipping ain't easy.

Maybe the Kermit flip didn't work out.

[42itus]

Originally Posted by VonSomething

Out of curiosity, what changed in the last few months since you made the below post?

"Hi everyone

Question to the WIS amongst us: do you expect the original Kermit to increase in value? I have the opportunity to purchase a NOS one with stickers for USD 21k. Does it make sense to do that for long term speculative purposes?

Thanks
V."

(Source: https://www.rolexforums.com/showthread.php?t=762627)

Lmao! I love the TRF detectives! It’s like watching the end of Law and Order when all the chips fall!


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[shaunylw]

Originally Posted by 42itus

Lmao! I love the TRF detectives! It’s like watching the end of Law and Order when all the chips fall!


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Lol, every time man. TRF detectives are undefeated.


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[Nairn1980]

Calm down, dear.

[LA_LEC]

Busted!

[dontbeshort]

Another bonkers thread about flippers. Wake up and smell the coffee! Flippers exist in a myriad of different forms .... from people flipping watches to people flipping ‘job lots’ of items on eBay to people flipping stocks’n’shares in the IPO market. Flippers are a fact of life. Flippers are driven by making a ‘turn’. They speculate. Apparently they don’t operate so well in communist countries (actually they probably do)..... may you find peace somewhere!

[sgwatchguy]

Someone’s having a bad day

[Number3]

Originally Posted by 42itus

Lmao! I love the TRF detectives! It’s like watching the end of Law and Order when all the chips fall!


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[VogelPhoenix]

Originally Posted by VonSomething

Out of curiosity, what changed in the last few months since you made the below post?

"Hi everyone

Question to the WIS amongst us: do you expect the original Kermit to increase in value? I have the opportunity to purchase a NOS one with stickers for USD 21k. Does it make sense to do that for long term speculative purposes?

Thanks
V."

(Source: https://www.rolexforums.com/showthread.php?t=762627)

[brucethemanlee]

Originally Posted by VonSomething

Out of curiosity, what changed in the last few months since you made the below post?

"Hi everyone

Question to the WIS amongst us: do you expect the original Kermit to increase in value? I have the opportunity to purchase a NOS one with stickers for USD 21k. Does it make sense to do that for long term speculative purposes?

Thanks
V."

(Source: https://www.rolexforums.com/showthread.php?t=762627)

Lol


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[stmoore]

Originally Posted by Andad

Pushing your luck?

Get you some!

VonSomething gets it. Do you?

[Etschell]

It took me 8 years but I flipped a paper clip for a platinum daytona. See op it can work out.

[stmoore]

Didn’t a guy actually do this - flip a paper clip into a house? A Daytona would be cool.

Originally Posted by Etschell

It took me 8 years but I flipped a paper clip for a platinum daytona. See op it can work out.

[brandrea]

Originally Posted by stmoore

Didn’t a guy actually do this - flip a paper clip into a house? A Daytona would be cool.

I think that’s what he was getting at