I'm a dirty rotten flipping flipper and have been for a year. Here's my story:

[Cloudchaser]

Originally Posted by amg55

For every desireable piece you ended up with two less desirable ones. How did you flip the other two without taking too much of a hit?

The bulk of the early watches I scored were as one-offs, before I was thinking in terms of bundling.

Since, I've been lucky a few times to be able to have two of the three watches be relatively in demand (SD43 + 116040, for example), which helps. I've also mixed in a few trades to minimize how long I have to sit on what would be a slower moving watch. I've also sold a couple of watches at lower than market (a few hundred or so) just to get them gone. I've recently attempted a new dabble, as well...I've traded a couple of slower moving watches for a lot of "off-brand" watches, leveraging the Rolex model a bit to "buy low" in a quality secondary brand...just a flier really (I've sold half already so it would appear to have been worthwhile).

Bundling is always a second option at best; I'd always prefer to buy a one-off in-demand model than spread out over three watches (unless all three are in demand). Whatever the bundle is, it has to return me 10% net to be "worthwhile," so I try to be careful and not make any big mistakes!

[Ballzzz]

Originally Posted by Cloudchaser

Three. One white and two black.

Not bad % wise - I was offered 2 as bundles for PM’s which I turned down both times. I love games and don’t mind them asking but I don’t want to fix one problem with another. I don’t mind waiting.

Money always talks and bs walks = bundles

Nice read - keep hustlin

[harvey]

All I can say is wow! Thank you for sharing your story.

I bought one Rolex in 2005 and then found this place in 2008. Ten years I now have another eight...and I thought I was crazy!

[OTWT]

Really interesting read, thanks. Are the AD's allowing you to keep the stickers on, not register the warranty, not size etc?

[BrazenC5]

I'm out of LA too...looking for a Hulk. Got one to sell?

Sent from my SM-G920V using Tapatalk

[520Matt]

Well written

[JamieAkkerman]

so where does one find the knowledge to become a retailer or watch flipper i am kinda interested in it.

[Duey]

Good paper on Rolex Commodity Trading in today's world.

But I'm still trying to understand WHY you posted your paper up here.

I think we all understand it's a Con Game with the AD, and I say that because that's what you describe doing. You con the AD into believing you're something you're not.

Have you been caught by any of the AD's you deal with, I mean flipping for a profit. And they won't sell to you anymore. Ending your game with that AD.

Are you worried that someone you sell to will call the AD and give them your name and tell them what you're doing.(because the information is printed on the card)

I mean no disrespect I'm just curious .....

[Cloudchaser]

Originally Posted by Duey

Good paper on Rolex Commodity Trading in today's world.

But I'm still trying to understand WHY you posted your paper up here.

I think we all understand it's a Con Game with the AD, and I say that because that's what you describe doing. You con the AD into believing you're something you're not.

Have you been caught by any of the AD's you deal with, I mean flipping for a profit. And they won't sell to you anymore. Ending your game with that AD.

Are you worried that someone you sell to will call the AD and give them your name and tell them what you're doing.(because the information is printed on the card)

I mean no disrespect I'm just curious .....

No disrespect inferred at all.

I posted it here because here is where the most interest is and because there had been a recent spate of speculation threads on the subject.

As to the con game, you're not far off but it's a mutual con game; in other words, the AD is almost never being square about the waiting lists, the hidden inventory, the volume of scarce models, etc. If neither of us are being honest with each other, and each of us knows that neither of us are being honest with each other, then that's certainly part of the game. If it turns out later that I was the only one being dishonest, I'll gladly apologize. :)

Also, of course, I provide photo ID and my AMEX to the AD as part of an in-store transaction; if the AD thinks I'm anything other than what my widely available public profiles advertise (I have what's known as a "prime name;" I'm the only person in the country with my name), then that's most certainly on them. My full name, profession, work history, and education is available for the world to see. Ironically, of course, much of the reason that there is room for me to operate in this market is that most Rolex ADs remain entrenched in an off-line retail world where anyone able to type with more than two fingers is "tech savvy."

Really, though, who is selling what to whom in these transactions? That's part of the game at this point. The absurdity of the game has led to the bizarre interactions where even legitimately good customers aren't being honest (i.e. buying and flipping models they don't want in order to move up the pecking order/waitlist/etc.) with the AD.

As for AD's being on to my ruse, well, if it happens it happens. I mean, I'm not breaking any laws out here, just buying $10K+ watches (and declaring proceeds to the IRS). If someone were to tell me that I can no longer buy $10K+ watches, I'll probably be okay; I try to keep it all in perspective.

Of course, I'd be lying if I said that I wouldn't celebrate with a toast if Rolex were to blacklist me for being too successful at "the game."

[Duey]

Well said and Thanks !

[SFmedic13]

Good read...Thanks for being straight forward.

[Beckster]

Thanks for being honest and sharing. Very interesting!

[air_king]

Really interesting read,thanks for the post. I never understood all the hate on this sight towards “ flippers” it’s just business at the end of the day, no different from any other transaction since the beginning of time. you don’t have to play if you choose not to. It’s just a watch

[gaoxing84]

Originally Posted by Cloudchaser

Two-fold approach so far.

First, my existing business and social networks have watch people in them. Who knew? Watches are something you don't necessarily know that people are into but then you get into it a little bit and it seems like everyone already is. Amazing how often people I know want first crack at something (in which case it's just a $500 finder's fee).

Second, once someone buys a watch from you and things go well, they tend to want to know what else you have or can get. This actually becomes then the "second crack" before listing publicly. I've met some cool people just by having watches for sale!

Friends and family as first pass with finder's fee (almost zero effort), followed by anyone I've sold a watch to previously (more effort), followed by classified listing (most effort obviously).

Thanks for reading.

you have a buyer in me

[gaoxing84]

great article. pretty much sums up everything!

[mjclark32]

Pretty interesting and well written.
Golfing as a 15 and always winning sounds a bit sandbagger’ish though

[Cloudchaser]

Originally Posted by gaoxing84

you have a buyer in me

Indeed! Thanks, Darryll! :)

[Cloudchaser]

Originally Posted by mjclark32

Pretty interesting and well written.
Golfing as a 15 and always winning sounds a bit sandbagger’ish though

Sorry for any misunderstanding; I golfed for free as a 15 not because I won my green fees back but because I never had to pay them in the first place...thanks to bartering. Look around any resort golf course and you'll find pros, assistant pros, and cart kids who do other things than just golf. :) I bet straight up so that when/if I win, I never have to hear any of that stuff. :)

[ArtNouveau]

I can vouch for similar methods used successfully almost 20 years ago when the SS Daytona was the only model with “hard to get” staying power. I had a friend circa 2000 who was a sales manager for a dozen southern states and travelled all over them. His schtick was to go into the small town dealers (not many of those left anymore), and tell them honestly that he wanted a Daytona and those big city dealers wouldn’t give him the time of day. His sincerity worked and over the next 3-4 years he accumulated a dozen or more. He kept one, sold a few to friends and family (I had three), then sold the rest for profit which was typically $3-4K back then. He eased out of doing it because he just got tired of it not because he was “busted” by anyone. The dealer network has shrunk but I bet that method would still work today for someone willing to put in the face time, random phone calls asking for one go nowhere.

[returntorolex]

Still flipping?

[SkyJuice]

Good experience.

[SpeakWithMichael]

Great read, and I second the notion that you should write more. The honesty and intrigue is high. Keep on playing!

[rushca01]

Originally Posted by gaoxing84

you have a buyer in me

I would do the same thing, pay a VIP AD customer etc.. a finders fee to get a watch I wanted.

[tudorbaja27]

Good read - thanks

[imperio]

Very interesting read. Thanks for taking the time to write this.

[rolexinfl]

Apply your story to bourbon. That was me.

I grew tired of it, though.

Flipping bourbon made me enough money to buy 2 Rolex refs I've always wanted.

[makrxx]

Good read! What's a typical bundle for you if I may ask?

[wappinghigh]

Awesome read. Very cool info on the Rolex "game" dude. I've "flipped" the thread back to the top ^...

[mfer]

My TL;DR as flipper
dollar cost average, margin isn’t high overall, risk more than people realize, inventory kills.

[Cloudchaser]

Originally Posted by mfer

My TL;DR as flipper
dollar cost average, margin isn’t high overall, risk more than people realize, inventory kills.

Pretty much nailed it.