Day in the life of a watch dealer.

[Fleetlord]

This might be a worthwhile series to those who are interested in how grey market watch dealers operate.

It’s pretty well produced. Accurate to what I have seen my self when dealing with greys, especially how they use networking and connections to obtain watches for the absolutely ravenous customer base....especially for Rolex..etc.









Not much straight horological content here..so it won’t be for everyone, but there are other channels for that.

[brannonj1]

I've been watching this and think it's great. Like you say - very well produced. Almost watches like a documentary you would see on on Netflix or a reality tv show.

[Chewbacca]

its a good show. should be a sticky for all valuation threads. hahaha!

[brandrea]

Interesting video, thanks for sharing.

I thought it was interesting that several times he was either asking or stating to the other person on the end of a call that he would be paying them in X days because he needed the money to fund another purchase ...

Perhaps it’s just smart business (using other people’s money to leverage new purchases) but it comes across a bit strange to me.

[JodyHighroller]

Originally Posted by brandrea

Interesting video, thanks for sharing.

I thought it was interesting that several times he was either asking or stating to the other person on the end of a call that he would be paying them in X days because he needed the money to fund another purchase ...

Perhaps it’s just smart business (using other people’s money to leverage new purchases) but it comes across a bit strange to me.

The margins are tight especially on popular references. Typical markup is only $1-2k. They don’t have enough liquidity to purchase all the timepieces being offered to them, so have to balance paying off a sold unit or purchasing more stock.

The margins are much slimmer than I would’ve thought.

[huncho]

Originally Posted by JodyHighroller

The margins are tight especially on popular references. Typical markup is only $1-2k. They don’t have enough liquidity to purchase all the timepieces being offered to them, so have to balance paying off a sold unit or purchasing more stock.

The margins are much slimmer than I would’ve thought.

he said in the most recent video that all the ADs in his area hate him, maybe that has something to do with it?

[JodyHighroller]

Originally Posted by huncho

he said in the most recent video that all the ADs in his area hate him, maybe that has something to do with it?

Perhaps when he first started out, but going by all his other videos it seems most of the popular references come from flippers. Very few seem to come direct from AD.

In one of his other videos, it showed him negotiating with a flipper who wanted more for his pre-owned Pepsi. He was like I have to have make money off this and can’t any further ($17k~).

I know some ADs work directly with gray dealers, but seeing his videos I believe the folks who flip make up a good majority of what people complain is wrong with the market lol.

[brandrea]

Originally Posted by JodyHighroller

The margins are tight especially on popular references. Typical markup is only $1-2k. They don’t have enough liquidity to purchase all the timepieces being offered to them, so have to balance paying off a sold unit or purchasing more stock.

The margins are much slimmer than I would’ve thought.

Interesting. I wonder what kind of net income he aims to make at the end of the year on 35 million in sales...

Regardless, it just seems in poor form to tell a customer you can’t pay them for a few more days because you need the money for something else

[huncho]

Originally Posted by JodyHighroller

Perhaps when he first started out, but going by all his other videos it seems most of the popular references come from flippers. Very few seem to come direct from AD.

In one of his other videos, it showed him negotiating with a flipper who wanted more for his pre-owned Pepsi. He was like I have to have make money off this and can’t any further ($17k~).

I know some ADs work directly with gray dealers, but seeing his videos I believe the folks who flip make up a good majority of what people complain is wrong with the market lol.

yeah that's what i meant. it looks like a lot of his inventory comes from flippers

[EEpro]

Originally Posted by brandrea

Interesting. I wonder what kind of net income he aims to make at the end of the year on 35 million in sales...

Regardless, it just seems in poor form to tell a customer you can’t pay them for a few more days because you need the money for something else

Umm yes it does

That's what a credit line is for right?

[Danny83]

Hes a cool guy I know him personally and he is a member here

[Etschell]

i watch them but just a little too long. he should cut them down to no more than 20 minutes. youtube viewership would increase.

[tudorbaja27]

Good stuff

[JodyHighroller]

Originally Posted by brandrea

Interesting. I wonder what kind of net income he aims to make at the end of the year on 35 million in sales...

Regardless, it just seems in poor form to tell a customer you can’t pay them for a few more days because you need the money for something else

Right, it’s not a good image. Essentially borrowing money from X to pay Y.

Originally Posted by huncho

yeah that's what i meant. it looks like a lot of his inventory comes from flippers

Oh, my bad. The ADs should be displeased with their clients for flipping rather than him.

[brandrea]

Originally Posted by Etschell

i watch them but just a little too long. he should cut them down to no more than 20 minutes. youtube viewership would increase.

Totally agree with you. I had little to do today so I watched the full length one posted here

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[brandrea]

Originally Posted by Danny83

Hes a cool guy I know him personally and he is a member here

Good to know



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[EEpro]

Originally Posted by Danny83

Hes a cool guy I know him personally and he is a member here

I bought my white 116500 from him. I agree. Still had some stickers on it though not mentioned in the listing.

He inspected my trades and mailed out my Daytona same day.

[asloper6001]

Love it, thanks for sharing. I follow Roman on youtube also, so this is right up my alley!

[Fleetlord]

Originally Posted by JodyHighroller

The margins are tight especially on popular references. Typical markup is only $1-2k. They don’t have enough liquidity to purchase all the timepieces being offered to them, so have to balance paying off a sold unit or purchasing more stock.

The margins are much slimmer than I would’ve thought.

It’s very true and that’s where some of these guys get in trouble. Not saying TG will, but one or two bad deals can really hurt when you’re floating funds.

It’s really tough margins with the hot references as the sellers want top dollar to come off them, so 10% to 15% tops is most you can make on those. If you pay less you won’t get inventory. Charge more and you won’t sell them.

Mixing some higher margin brands in there helps. Breitling, Cartier, Panerai..etc. something they can buy very low and try to sell @ 30% plus.

That’s why you see some greys not loaded up with Rolex. They need more margin.

The Problem, however, is the market is so laser focused on the hottest brands that its tough to move anything else....especially when the main promotional vehicle is social media, such as the gram.

Less collectors on there who will buy less popular but high margin stuff...but way more status centric buyers who demand fresh, hot Rolex and have absolutely no interest in anything else.

[Chewbacca]

Originally Posted by Danny83

Hes a cool guy I know him personally and he is a member here

Tell him we like pizza.

[BNA/LION]

Originally Posted by Chewbacca

Tell him we like pizza.

Pizza! Pizza!

[TheVTCGuy]

Originally Posted by Danny83

Hes a cool guy I know him personally and he is a member here

This was cool to watch, and at the same time....

I will try to explain this, but with all those watches, is the... “Passion” for a fine timepiece diminished? We, as Wises, all have a passion for watches, whether it’s a PP, Rolex or Invicta, we are just ... “In” to watches (passion is the best description I can come up with). Watching that video, when he was wheeling and dealing and talking price and trade etc. I kind of felt it lacked the passion of holding/wearing/buying/seeing a spectacular timepiece. We all know the feeling when we try on the watch we have coveted for a long time at the AD and just go.... “ Wow “ When you are selling and buying and trading with hundreds of watches in front of you all day every day, like you are buying and selling widgets, do you actually lose the Passion you have for a fine timepiece?

I did not mean this in any way to be derogatory, more power to that guy and he is obviously a hard worker, I wish him and his business the best, but just wondering if it changes how you would cherish and admire a fine timepiece when it was your business(?)

[TheVTCGuy]

Originally Posted by Chewbacca

Tell him we like pizza.

I like Tacos

[btinl]

Thanks for sharing. I enjoyed it.

[shaunylw]

Originally Posted by Danny83

Hes a cool guy I know him personally and he is a member here

I was a bit indifferent towards his channel until today. I thought it was well produced but he wasn’t someone i would reach out to. I saw what he did for the Tiktok kid that drove a bunch of business towards him. He gives the kid a nice DJ with a fluted bezel. i thought it was a really classy move. I’m a fan.


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[Chewbacca]

Originally Posted by TheVTCGuy

I like Tacos

Taco on your six Maverick.

[Fleetlord]

Originally Posted by TheVTCGuy

This was cool to watch, and at the same time....

I will try to explain this, but with all those watches, is the... “Passion” for a fine timepiece diminished? We, as Wises, all have a passion for watches, whether it’s a PP, Rolex or Invicta, we are just ... “In” to watches (passion is the best description I can come up with). Watching that video, when he was wheeling and dealing and talking price and trade etc. I kind of felt it lacked the passion of holding/wearing/buying/seeing a spectacular timepiece. We all know the feeling when we try on the watch we have coveted for a long time at the AD and just go.... “ Wow “ When you are selling and buying and trading with hundreds of watches in front of you all day every day, like you are buying and selling widgets, do you actually lose the Passion you have for a fine timepiece?

I did not mean this in any way to be derogatory, more power to that guy and he is obviously a hard worker, I wish him and his business the best, but just wondering if it changes how you would cherish and admire a fine timepiece when it was your business(?)

That’s an interesting question. I think there are some different levels to this.

Some greys are big collectors who turned their hobby into a business. They keep the passion and sometimes struggle with parting with watches because...they are collectors. They have in depth knowledge of watches and are passionate about the horology, but keenly know the market and it’s trends. However, they can get in trouble by holding on to watches too long or by buying too many because they are “collecting”.

Some “like” watches, but don’t really have a “collection”. They still wear a watch, but would sell it off their wrist in a second without hesitation. They mostly wear their inventory as a promotional piece to use on the gram. ..but maybe keep one as their EDC. Definitely all about the market and are much more focused on that than any horological details.

The last type I have encountered doesn’t have any passion for watches, doesn’t wear one, couldn’t care less about them other than have enough knowledge to be able to sell it . There are a ton of these guys out there.

I remember when I was a kid I used to visit a baseball card store ‘ coin shop. The owner openly admitted he didn’t collect anything. Just bought and sold to those in the hobby. I felt like he was like a drug dealer. Never used the stuff, but helped you get your fix. I really didn’t care for that. Some greys are the same way.

In time some dealers get so used to handling all these high end watches that they simply aren’t impressed by anything anymore and get burned out from that side of it.
‘

[1st amg]

Originally Posted by Danny83

Hes a cool guy I know him personally and he is a member here

No way....ironically I have been watching his videos for the last couple of months, I like the videos and he does indeed seem like a great guy, I actually was thinking of buying something off him!!

[m j b]

Originally Posted by TheVTCGuy

When you are selling and buying and trading with hundreds of watches in front of you all day every day, like you are buying and selling widgets, do you actually lose the Passion you have for a fine timepiece?

Originally Posted by Fleetlord

In time some dealers get so used to handling all these high end watches that they simply aren’t impressed by anything anymore and get burned out from that side of it.
‘

I look at it like most car dealers or any other broker/salesperson. It's just inventory to be moved. Sure, some are enthusiasts and might keep a particular item for their own use for a little while, but in the end, they are running a business and trying to make money.

I only watched a few minutes of the video. The problem with all of this youtube stuff and the toktik and whatnot is the bar for "professional quality" video has really been lowered. Really lousy audio, poor camera work and annoying editing.

Or maybe it's because I just have better things to do with my time. Like read forum posts. LOL

[interestedwatcher]

I enjoy his videos, he has charisma. Was interesting watching a potential business partner trying to make a deal with him - I got bad vibes from the potential partner.