My first Patek...

[Calatrava r]

Originally Posted by Fat_ninja

Personally I try to lose money on my watches cause I’m so rich. When I walk in a store I bring my own KY jelly.

Most people don’t flip... they just don’t want to go broke buying toys

One is certain this can become an obsession that can take anyone down the financial spiral.

[Fat_ninja]

Originally Posted by Calatrava r

One is certain this can become an obsession that can take anyone down the financial spiral.

Good thing I have lots of KY jelly

[baglady]

Originally Posted by Fat_ninja

Seems like very little money to do this much work for on the bags? Time is money... and investing time and capital to make 2-3k on a bag seems kind of meh.

There must be easier ways to make money than flipping bags... sorry this seems a little silly in my mind.

I’m not a bagflipper, I just know what I need to do if I want to get the most value for my bags. As much as I like to have a nice bag collection, I’m not a fan of letting things sit around. And I think a good degree of financial discipline is letting go of things you no longer use.

To that point, if there’s a Birkin that I no longer use because the color or style doesn’t really fit my aesthetic, and I’m looking to get a new bag of that caliber, I will likely let the Birkin go. I’m actually very transparent about this with my Hermès SA, who also gives me advice about where to sell if that’s my aim.

High demand watches and bags aren’t subject to stockholder lockups. And I get irritated when people look down on the potential for selling these assets as being a “flipper.” I agree that that business is unsavory, but there’s a middle ground between being a flipper and being tied by a leash to your AD/SA. Always remember that you are wearing the pants in this relationship.

[baglady]

Originally Posted by Fat_ninja

Seems like very little money to do this much work for on the bags? Time is money... and investing time and capital to make 2-3k on a bag seems kind of meh.

There must be easier ways to make money than flipping bags... sorry this seems a little silly in my mind.

One other thing... top line value I quoted above is at the lower end. I have a black Kelly in epsom with gold hardware. Instant classic. Bought for 7.9k EUR and I have offers north of $27k USD for it.

[Fat_ninja]

Originally Posted by baglady

One other thing... top line value I quoted above is at the lower end. I have a black Kelly in epsom with gold hardware. Instant classic. Bought for 7.9k EUR and I have offers north of $27k USD for it.

I should tell the wife to sell hers if that’s true... we have all the grails.. I’d be surprise you have offers at 27k. I’ve bought enough and sold enough Hermes bags to know the market there. That’s just exaggerating. Unless you have the deal crystallize. I doubt those numbers are real. The consignment quotes are BS... if it doesn’t move they ask to lower the price.

[Fat_ninja]

Also to make real money,...the key is to be able to deploy as much capital as possible, preferably other people’s capital while lowering the volatility so that you can leverage the shit out of it.


If u can do that with bags ...I’m in the wrong business. And I need to advise meecedes to find a new career

[Fat_ninja]

Originally Posted by baglady

I’m not a bagflipper, I just know what I need to do if I want to get the most value for my bags. As much as I like to have a nice bag collection, I’m not a fan of letting things sit around. And I think a good degree of financial discipline is letting go of things you no longer use.

To that point, if there’s a Birkin that I no longer use because the color or style doesn’t really fit my aesthetic, and I’m looking to get a new bag of that caliber, I will likely let the Birkin go. I’m actually very transparent about this with my Hermès SA, who also gives me advice about where to sell if that’s my aim.

High demand watches and bags aren’t subject to stockholder lockups. And I get irritated when people look down on the potential for selling these assets as being a “flipper.” I agree that that business is unsavory, but there’s a middle ground between being a flipper and being tied by a leash to your AD/SA. Always remember that you are wearing the pants in this relationship.

I have no issues with people flipping stuff. It’s your money. Flip anything u want. I hate people that judge.

[Fat_ninja]

Btw baglady... I don’t mean to come off judgemental. I’m just bored at home watching anime.

[baglady]

Originally Posted by Fat_ninja

I should tell the wife to sell hers if that’s true... we have all the grails.. I’d be surprise you have offers at 27k. I’ve bought enough and sold enough Hermes bags to know the market there. That’s just exaggerating. Unless you have the deal crystallize. I doubt those numbers are real. The consignment quotes are BS... if it doesn’t move they ask to lower the price.

Nope not consignment. And the buyers I have are serious. I agree that consignment quotes are BS, but if anything they've tended to lowball me up front.

[baglady]

Originally Posted by Fat_ninja

Also to make real money,...the key is to be able to deploy as much capital as possible, preferably other people’s capital while lowering the volatility so that you can leverage the shit out of it.


If u can do that with bags ...I’m in the wrong business. And I need to advise meecedes to find a new career

There's a startup trying to do something like this called Otis (funded by a top tier VC fund in NYC). I'm not sure how much I buy into it, but there's an effort to bring more people into the market, which in turn drives liquidity and lowers transaction costs.

[baglady]

Originally Posted by Fat_ninja

Btw baglady... I don’t mean to come off judgemental. I’m just bored at home watching anime.

Oh not at all. I don't have an ego to bruise. I'm a nerd and love debating all aspects of these things. Even though I can "afford" these things, whatever that means, that's no excuse for being lazy with the analysis

[Fat_ninja]

Originally Posted by baglady

There's a startup trying to do something like this called Otis (funded by a top tier VC fund in NYC). I'm not sure how much I buy into it, but there's an effort to bring more people into the market, which in turn drives liquidity and lowers transaction costs.

That be great if they could add liquidity to the bag market... I wouldn’t mind. The few now is obviously therealreal, Posh rebag etc. we’ve used rebag to move the wife’s Chanel’s and LV’s which were brand new by and large. Generally my wife’s pretty good not spending on bags. She does love her diamonds tho... and I’m happy she loves watches now...

[baglady]

Originally Posted by Fat_ninja

That be great if they could add liquidity to the bag market... I wouldn’t mind. The few now is obviously therealreal, Posh rebag etc. we’ve used rebag to move the wife’s Chanel’s and LV’s which were brand new by and large. Generally my wife’s pretty good not spending on bags. She does love her diamonds tho... and I’m happy she loves watches now...

I entertained only using Ann's Fabulous Finds for my bags, but I've always been able to find buyers on Craigslist. And I love it because the buyers I meet tend to bring long term relationships that I treasure to this day.

[locutus49]

We used realreal to sell the wife's Birkin. It was big and heavy, did not fit the SoCal culture. Now she carries Goyard limited edition tote and a few other Hermes bags.

I would like to see a picture of your Patek, baglady, as I don't know that reference.

Originally Posted by baglady

I entertained only using Ann's Fabulous Finds for my bags, but I've always been able to find buyers on Craigslist. And I love it because the buyers I meet tend to bring long term relationships that I treasure to this day.

[pam66]

Originally Posted by Fat_ninja

That be great if they could add liquidity to the bag market... I wouldn’t mind. The few now is obviously therealreal, Posh rebag etc. we’ve used rebag to move the wife’s Chanel’s and LV’s which were brand new by and large. Generally my wife’s pretty good not spending on bags. She does love her diamonds tho... and I’m happy she loves watches now...

if you manage to move diamonds with net gains i get really impressed:::)))

[Fat_ninja]

Originally Posted by pam66

if you manage to move diamonds with net gains i get really impressed:::)))

I know I’m not moving the diamonds. The diamonds are there to thank the wife for the hard work. :)

[pam66]

Originally Posted by baglady

I entertained only using Ann's Fabulous Finds for my bags, but I've always been able to find buyers on Craigslist. And I love it because the buyers I meet tend to bring long term relationships that I treasure to this day.

my secretary buys birkins and kellys in europe and sells them online with 100% profit to malaysia . i'd say who makes less than that on the top hermes bags does not play the bag game right.
how they say in real estate: it is location location location:::)))

[Fat_ninja]

Originally Posted by pam66

my secretary buys birkins and kellys in europe and sells them online with 100% profit to malaysia . i'd say who makes less than that on the top hermes bags does not play the bag game right.
how they say in real estate: it is location location location:::)))

Lol u and I both know location location location. Must be some wacky stuff going on with European birkins.


Edit:
When I get an assistant I will feel like I’ve made it in life. #career_goals

[Fat_ninja]

Originally Posted by baglady

I entertained only using Ann's Fabulous Finds for my bags, but I've always been able to find buyers on Craigslist. And I love it because the buyers I meet tend to bring long term relationships that I treasure to this day.

Was trying to force sell my wife’s Kelly, but it says one sold for $12k

Oh well no sale for me

https://www.annsfabulousfinds.com/pr...b585077d&_ss=r

[cascavel]

Originally Posted by Fat_ninja

Seems like very little money to do this much work for on the bags? Time is money... and investing time and capital to make 2-3k on a bag seems kind of meh.

There must be easier ways to make money than flipping bags... sorry this seems a little silly in my mind.

Tell that to Sotheby's, Christie's, Heritage, RealReal, ReBag. I'm sure they're waiting for enlightenment. RealReal just IPOed with a market cap of $1.4B and their biggest business is reselling Hermes bags although, admittedly, they will never turn a profit.

[Fat_ninja]

Originally Posted by cascavel

Tell that to Sotheby's, Christie's, Heritage, RealReal, ReBag. I'm sure they're waiting for enlightenment. RealReal just IPOed with a market cap of $1.4B and their biggest business is reselling Hermes bags although, admittedly, they will never turn a profit.

Therealreal always makes money yes, the bag seller no.
When u get consigned a bag...you have no capital at risk

[pam66]

Originally Posted by Fat_ninja

Lol u and I both know location location location. Must be some wacky stuff going on with European birkins.


Edit:
When I get an assistant I will feel like I’ve made it in life. #career_goals

not enough deliveries to malaysia my PA claims. one clever lady....i think she would play the watch game well too. and maybe baglady would appreciate some help from my PA with her bags?

[pam66]

Originally Posted by Fat_ninja

Lol u and I both know location location location.
.......

yes we do know that don't we

[Fat_ninja]

Originally Posted by pam66

yes we do know that don't we

I would have said we took the patek forum IQ down by a few notches. But then I know your IQ lol

[pam66]

Originally Posted by Fat_ninja

I would have said we took the patek forum IQ down by a few notches. But then I know your IQ lol

lets say we have some headroom left. but i am just trying to help out baglady:::)))

[Aquaman]

Originally Posted by Fat_ninja

I would have said we took the patek forum IQ down by a few notches. But then I know your IQ lol

parabolic?

[pam66]

Originally Posted by Aquaman

parabolic?

no, hyperbolic

[Fat_ninja]

Originally Posted by Aquaman

parabolic?

No that was my description of the price of nautilus’ in the first half of 2019.

[Fat_ninja]

Guys I think we ruined baglady’s thread...

Sorry baglady... I apologize.

[watchucallit]

Congratulations.. Great choice