UK grey margins?

[steeevvvooo]

Just curious as I was offered 50% of retail price for a 9 month old ROC this week. Nearly fell off my chair and needless to say I politely declined their "kind" offer!

I found trusted sellers from TRF pretty fair when I was in the US but UK greys seems to want their cake and eat it. Super high asks and terrible bids.

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[fullofboats]

Greys in HK seem to operate on ~15% margin assuming they get their asking selling price. They offer around HK$160k for ROCs here (vs. 190k retail) and are asking for ~195k.

[steeevvvooo]

Originally Posted by fullofboats

Greys in HK seem to operate on ~15% margin assuming they get their asking selling price. They offer around HK$160k for ROCs here (vs. 190k retail) and are asking for ~195k.

That seems reasonable enough. Perhaps I just caught a bad grey on a bad day.

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[AshAP]

It’s a few years since I sold an AP but the last time I did I sold through Watchfinder. They offered more than anyone else by around £500-£1000 (I can’t remember for sure). The watch was a rose gold rubber clad offshore. When they listed the watch for sale they had around 18% margin. Although they offered the highest price they were a complete nightmare to deal with. The watch had literally just had an AP service and brand new rubber bezel in Switzerland and looked like new, all box and paperwork including service paperwork and invoice. Watchfinder offered me the price and said if I accepted their offer they would authenticate the watch and transfer funds within 3 days which I accepted. When the funds didn’t arrive I called them and was told that they had dismantled the watch so that they could authenticate it, this took them about 3 weeks. In total it took 4 weeks to get paid and a level of stress regarding them dismantling my watch that just wasn’t worth the extra money. The best payers in the industry are without question Blowers Jewellers in Hull. They are totally honest and stand by their telephone offer and transfer the funds while you’re having a coffee with them, I’ve recommended Blowers to all my friends when they want to sell a watch.


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[steeevvvooo]

Originally Posted by AshAP

It’s a few years since I sold an AP but the last time I did I sold through Watchfinder. They offered more than anyone else by around £500-£1000 (I can’t remember for sure). The watch was a rose gold rubber clad offshore. When they listed the watch for sale they had around 18% margin. Although they offered the highest price they were a complete nightmare to deal with. The watch had literally just had an AP service and brand new rubber bezel in Switzerland and looked like new, all box and paperwork including service paperwork and invoice. Watchfinder offered me the price and said if I accepted their offer they would authenticate the watch and transfer funds within 3 days which I accepted. When the funds didn’t arrive I called them and was told that they had dismantled the watch so that they could authenticate it, this took them about 3 weeks. In total it took 4 weeks to get paid and a level of stress regarding them dismantling my watch that just wasn’t worth the extra money. The best payers in the industry are without question Blowers Jewellers in Hull. They are totally honest and stand by their telephone offer and transfer the funds while you’re having a coffee with them, I’ve recommended Blowers to all my friends when they want to sell a watch.


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Thanks Ash. I may contact blowers. I can imagine your stress having paid so much for AP to service and reassemble your watch only for watchfinder, with non authorised watchmakers, to take it apart again!

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[bondtoys]

Originally Posted by AshAP

It’s a few years since I sold an AP but the last time I did I sold through Watchfinder. They offered more than anyone else by around £500-£1000 (I can’t remember for sure). The watch was a rose gold rubber clad offshore. When they listed the watch for sale they had around 18% margin. Although they offered the highest price they were a complete nightmare to deal with. The watch had literally just had an AP service and brand new rubber bezel in Switzerland and looked like new, all box and paperwork including service paperwork and invoice. Watchfinder offered me the price and said if I accepted their offer they would authenticate the watch and transfer funds within 3 days which I accepted. When the funds didn’t arrive I called them and was told that they had dismantled the watch so that they could authenticate it, this took them about 3 weeks. In total it took 4 weeks to get paid and a level of stress regarding them dismantling my watch that just wasn’t worth the extra money. The best payers in the industry are without question Blowers Jewellers in Hull. They are totally honest and stand by their telephone offer and transfer the funds while you’re having a coffee with them, I’ve recommended Blowers to all my friends when they want to sell a watch.


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I have recently BOUGHT from Blowers and everything was phantastic - and the whisky, too

Highly recommended!

[Colin W]

Originally Posted by AshAP

It’s a few years since I sold an AP but the last time I did I sold through Watchfinder. They offered more than anyone else by around £500-£1000 (I can’t remember for sure). The watch was a rose gold rubber clad offshore. When they listed the watch for sale they had around 18% margin. Although they offered the highest price they were a complete nightmare to deal with. The watch had literally just had an AP service and brand new rubber bezel in Switzerland and looked like new, all box and paperwork including service paperwork and invoice. Watchfinder offered me the price and said if I accepted their offer they would authenticate the watch and transfer funds within 3 days which I accepted. When the funds didn’t arrive I called them and was told that they had dismantled the watch so that they could authenticate it, this took them about 3 weeks. In total it took 4 weeks to get paid and a level of stress regarding them dismantling my watch that just wasn’t worth the extra money. The best payers in the industry are without question Blowers Jewellers in Hull. They are totally honest and stand by their telephone offer and transfer the funds while you’re having a coffee with them, I’ve recommended Blowers to all my friends when they want to sell a watch.


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Agree Ash - bought and sold several pieces with Blowers over the years, fair prices and great to deal with.
Mark Worthington in Cheshire are also great to do business with.
Never used Watchfinder - mainly due to people having bad experiences such as yours!


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[tng11]

I had a really great experience with Watchfinder recently. Almost passed them over because of some insulting bids a year ago. They bid well on a piece I had, and it was straightforward from there. Went to my appointment at Burlington Arcade, they examined the watch on the spot and confirmed their offer at the top end of the range. The funds were immediately pending in my bank account after I entered in my banking information.

Blowers on the other hand, bid me a lot less than WF...

[H_UK]

Originally Posted by AshAP

It’s a few years since I sold an AP but the last time I did I sold through Watchfinder. They offered more than anyone else by around £500-£1000 (I can’t remember for sure). The watch was a rose gold rubber clad offshore. When they listed the watch for sale they had around 18% margin. Although they offered the highest price they were a complete nightmare to deal with. The watch had literally just had an AP service and brand new rubber bezel in Switzerland and looked like new, all box and paperwork including service paperwork and invoice. Watchfinder offered me the price and said if I accepted their offer they would authenticate the watch and transfer funds within 3 days which I accepted. When the funds didn’t arrive I called them and was told that they had dismantled the watch so that they could authenticate it, this took them about 3 weeks. In total it took 4 weeks to get paid and a level of stress regarding them dismantling my watch that just wasn’t worth the extra money. The best payers in the industry are without question Blowers Jewellers in Hull. They are totally honest and stand by their telephone offer and transfer the funds while you’re having a coffee with them, I’ve recommended Blowers to all my friends when they want to sell a watch.


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Ive been dealing with blowers for years. Mark is a top guy and I've sent plenty of people his way. Really great to deal with. Yoni from material good in NY is also a good guy. I've been into Watchfinder a few times to accompany friends who are purchasing who want advice. Many of their sales guys have no clue! Once they lied to my friend and said an AP had never been polished. It was obvious it had. The guy challenged me and said why would I think it had been polished. I showed him my wrist as I was wearing an AP and said because it doesn't look like this!

[othertbone]

Originally Posted by steeevvvooo

Just curious as I was offered 50% of retail price for a 9 month old ROC this week. Nearly fell off my chair and needless to say I politely declined their "kind" offer!

I found trusted sellers from TRF pretty fair when I was in the US but UK greys seems to want their cake and eat it. Super high asks and terrible bids.

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Yep dealers are not your friends, and they need to make a profit on the resale.

Best to sell on your own. Not as easy to sell as Rolex and there are financial risks as a private seller, but at least you may get full used market price on the piece.

[steeevvvooo]

Originally Posted by othertbone

Yep dealers are not your friends, and they need to make a profit on the resale.



Best to sell on your own. Not as easy to sell as Rolex and there are financial risks as a private seller, but at least you may get full used market price on the piece.

To be fair I found the trusted sellers from the US to much better on the whole. I sold some myself and traded some others, but I'm finding the situation much more difficult now I am in the UK.

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[Josh1000]

Never had a problem with WF and they my ho to place when I neednto move a watch