Buying and selling watches in uk

[roadhog99]

Hi all

Am after some advice/thoughts.

I've been considering starting to buy/sell a few watches for a while. This is really only as a small sideline so not as a full scale business. Maybe a watch every couple of months or so.

I'm thinking of mainly focusing on rolex as I know the brand reasonable well, and am pretty well versed with what to look for in terms for fakes etc.

However I'd like some advise /thoughts on how to go about it, and in particular on the best places to buy/source watches from.

I'm not expecting to make big profit on each watch. The logic is that even with a modest profit, with a regular turn round, it will hopefully outperform the return from a savings/isa account, whilst also being something to enjoy doing.

In particular I'd be keen to hear from anyone else who's done the same sort of thing.

Thanks!!


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[beer]

I can only advise on where to buy from

If you want to make money, do not buy from jewellers or watch stores or any other properly set up business as VAT here is 20% so you will immediately need to sell the watch for 20% more than its actual value just to break even

Buying from individuals does not have a VAT responsibility however obviously you will need to be skilled enough to purchase genuine pieces

[roadhog99]

Thanks mate, have you tried buying/selling before?


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[qhbl]

Originally Posted by roadhog99

Thanks mate, have you tried buying/selling before?


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Even if you do buy an sell watches, second hand item VAT scheme would help.