How to get in to watch business?

[watchfreak18]

Hello everyone,

I'm passionate about watches and have been collecting them for a while. I'm now considering starting my own watch business. However, I'm not familiar with the intricacies of this venture. I would greatly appreciate any advice you could offer. Specifically, I'd like to know where to source and purchase watches, how to authenticate them, and what the typical profit margins are.

Thank you for your time and assistance.

[ExplorerI]

Profit margins on modern stainless steel watches are pretty slim unless you’re a big name dealer with an established customer base. Lot of transactions happening with 200-500 in profit. When you’re getting started finding a way to source watches slightly below wholesale pricing is your best bet as it’s pretty hard to sell them for any kind of a premium over wholesale without a reputation or expensive store front.

Margins on vintage, and higher end precious metals, Patek, etc can be much much higher but it’s a field where you have to have a reputation and really know what you’re doing.

[BLACKHORSE 6]

Ask Anthony Farrer. He can give you some pointers: https://www.rolexforums.com/showthread.php?t=909075

In all seriousness, find someone that has built the business that you think you’d like to have one day and go talk to them about it. Especially if you find one in another part of the country that wouldn’t be a direct competitor in the place you intend to open.

Good luck

[2loaded]

Watch Diller University?

[subtona]

Time Machine

[superdog]

If you have to ask….

[Andad]

What do you do for a living?

[Swearengen]

How to make a small fortune in the watch business?


Start with a large one


In Anthony we Trust

[White Collar Boy]

Don’t mean to discourage you, I have no selling experience, but if it were me, I’d look for a job selling watches in an established business so you get some good firsthand experience and hard-earned insight. After a year or so, you could then set out on your own with some confidence. Good luck.

[brandrea]

Originally Posted by White Collar Boy

Don’t mean to discourage you, I have no selling experience, but if it were me, I’d look for a job selling watches in an established business so you get some good firsthand experience and hard-earned insight. After a year or so, you could then set out on your own with some confidence. Good luck.

I think that’s really great advice

OP, I too do not mean to discourage, that said, you’re up against stiff competition with well established dealers.

To be successful you will have to differentiate yourself from all the others out there.

Good luck

[1William]

Like with any business, buy for 1, sell for 2. The difficulty comes in sourcing the product and creating a platform to sell. There are many brands that you can sell and not just the big ones. I think you need to do your research and talk to a few people that are in the business and see what they say. Capital is also an issue. Good luck.

[swils8610]

Buy low…sell high


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[Calatrava r]

Originally Posted by White Collar Boy

Don’t mean to discourage you, I have no selling experience, but if it were me, I’d look for a job selling watches in an established business so you get some good firsthand experience and hard-earned insight. After a year or so, you could then set out on your own with some confidence. Good luck.

Very good advice.

[Giovannibravo]

Originally Posted by watchfreak18

Hello everyone,

I'm passionate about watches and have been collecting them for a while. I'm now considering starting my own watch business. However, I'm not familiar with the intricacies of this venture. I would greatly appreciate any advice you could offer. Specifically, I'd like to know where to source and purchase watches, how to authenticate them, and what the typical profit margins are.

Thank you for your time and assistance.

If you hope for a glamorous lifestyle shown on YouTube by Anthony Farrer or Roman Sharf, you are getting into the wrong business. Some have previously highlighted margins are thin. I would suggest looking at another industry.


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