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Old 26 May 2022, 01:28 AM   #1
quakeroatmeal
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Hodinkee no longer buying used watches
I reached out to Hodinkee to check on the value of a trade in, and they replied that due to the market volatility they are no longer paying for watches, instead they only give store credit.

Pretty crazy! Especially since not long ago they merged with Crown and Caliber.

Anyone else get this message?
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Old 26 May 2022, 01:32 AM   #2
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Lol store credit. The GameStop of the watch industry.
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Old 26 May 2022, 01:37 AM   #3
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Lol store credit. The GameStop of the watch industry.
LOL Good one
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Old 26 May 2022, 01:46 AM   #4
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Lol store credit. The GameStop of the watch industry.
HA!
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Old 26 May 2022, 02:21 AM   #5
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Lol store credit. The GameStop of the watch industry.
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Old 26 May 2022, 01:35 AM   #6
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Nobody wants to catch a falling knife
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Old 26 May 2022, 01:45 AM   #7
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Nobody wants to catch a falling knife
Agree
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Old 26 May 2022, 01:36 AM   #8
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Not really the time to sell anyway.
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Old 26 May 2022, 01:37 AM   #9
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Store credit, wow. Is the correction about to turn into a crash? I wonder .
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Old 26 May 2022, 01:46 AM   #10
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Wow. Interesting times.
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Old 26 May 2022, 01:47 AM   #11
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Thank you for sharing, I think this is going to be the new norm for a while.
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Old 26 May 2022, 02:11 AM   #12
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Originally Posted by quakeroatmeal View Post
I reached out to Hodinkee to check on the value of a trade in, and they replied that due to the market volatility they are no longer paying for watches, instead they only give store credit.

Pretty crazy! Especially since not long ago they merged with Crown and Caliber.

Anyone else get this message?
Isn't "Store credit" by definition a Trade-in?
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Old 26 May 2022, 02:19 AM   #13
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Isn't "Store credit" by definition a Trade-in?

Thats what I am thinking :)
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Old 26 May 2022, 02:21 AM   #14
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Isn't "Store credit" by definition a Trade-in?
Yeah, the thread is poorly titled. Seems more like Hodinkee is no longer buying watches at all.
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Old 26 May 2022, 02:32 AM   #15
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Yeah, the thread is poorly titled. Seems more like Hodinkee is no longer buying watches at all.
In hindsight that seems a bit better, I had trouble titling the thread.

"Hodinkee no longer buying watches" seemed more misleading or inflammatory to me.

But I definitely see the issue with my title now.
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Old 26 May 2022, 02:39 AM   #16
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In hindsight that seems a bit better, I had trouble titling the thread.

"Hodinkee no longer buying watches" seemed more misleading or inflammatory to me.

But I definitely see the issue with my title now.
Pardon me, but I just got up and I'm still a little woozy.

What is it that Hodinkee is doing or not doing?
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Old 26 May 2022, 02:43 AM   #17
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Pardon me, but I just got up and I'm still a little woozy.

What is it that Hodinkee is doing or not doing?
They used to offer a watch seller the option of a sale or a trade in. The trade in would offer you like 10% more value towards a new purchase. Right now they are only offering credit towards a purchase. They aren't cutting checks to buy watches. This is probably because their buy prices recently look poor in retrospect. Also, Hodinkee has a new CEO, so changes are coming most likely.
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Old 26 May 2022, 05:59 AM   #18
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Originally Posted by quakeroatmeal View Post
In hindsight that seems a bit better, I had trouble titling the thread.

"Hodinkee no longer buying watches" seemed more misleading or inflammatory to me.

But I definitely see the issue with my title now.
How about "Hodindee only taking watches as trade-ins, not for cash?"
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Old 26 May 2022, 02:19 AM   #19
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They had previously gotten a little carried away…..
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Old 26 May 2022, 02:25 AM   #20
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Quote:
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...instead they only give store credit.




Quote:
Originally Posted by WatchGuy1966 View Post
Isn't "Store credit" by definition a Trade-in?
That sounds plausible, but according to the OP, it was Hodinkee who made the distinction.

Maybe the difference is that a trade-in is for the watch you want and a store-credit is for something else.
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Old 26 May 2022, 02:33 AM   #21
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Hopefully the arse will drop out of the secondary market and that will be the middle finger to all those that have tainted this hobby, one can only hope!
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Old 26 May 2022, 03:00 AM   #22
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Hopefully the arse will drop out of the secondary market and that will be the middle finger to all those that have tainted this hobby, one can only hope!
Here ! Here !
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Old 26 May 2022, 02:41 AM   #23
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ProducerMichael interviews this Beverly Hills grey dealer. First time I see a dealer admitting on Youtube that the prices will continue to drop. Fast forward to minute 21.

https://www.youtube.com/watch?v=TtJY75rhHD4
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Old 26 May 2022, 02:57 AM   #24
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Just got quoted $182,383.22 as trade value on one of my OP41 from their Nigerian location. Not cash but not bad credit to use down the road. Shipping today with no signature required also saves $100

Therefore this thread is definitely misleading.
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Old 26 May 2022, 05:23 AM   #25
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Just got quoted $182,383.22 as trade value on one of my OP41 from their Nigerian location. Not cash but not bad credit to use down the road. Shipping today with no signature required also saves $100

Therefore this thread is definitely misleading.
After sending the watch with tracking I was just told my credit memo is now worth $0 due to this thread’s scaremongering and Nigerian Habokkie did me a favor since it’s really just a 3 hand fancy Swatch!!!!

I’m ruined!
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Old 26 May 2022, 05:36 AM   #26
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After sending the watch with tracking I was just told my credit memo is now worth $0 due to this thread’s scaremongering and Nigerian Habokkie did me a favor since it’s really just a 3 hand fancy Swatch!!!!

I’m ruined!
Ur Naija lingo is okay for an oyinbo
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Old 26 May 2022, 05:40 AM   #27
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Ur Naija lingo is okay for an oyinbo
I need your to help!!!!
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Old 26 May 2022, 05:41 AM   #28
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Just got quoted $182,383.22 as trade value on one of my OP41 from their Nigerian location. Not cash but not bad credit to use down the road. Shipping today with no signature required also saves $100

Therefore this thread is definitely misleading.
My afternoon coffee just came out through the nose.

So thanks for that!
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Old 26 May 2022, 05:46 AM   #29
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Quote:
Originally Posted by Chewbacca View Post
Just got quoted $182,383.22 as trade value on one of my OP41 from their Nigerian location. Not cash but not bad credit to use down the road. Shipping today with no signature required also saves $100

Therefore this thread is definitely misleading.
Hey Chewey, are you sure that quote isn't in Nigerian Naira (414 to $1) or $440.54?
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Old 26 May 2022, 05:48 AM   #30
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Hey Chewey, are you sure that quote isn't in Nigerian Naira (414 to $1) or $440.54?
Is $0 in Nigeria the same as $0 in the USA?
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