Hodinkee no longer paying for trade ins

[DD58]

So I sold 3 watches a month ago and had no problem either way they gave me a cash offer and I decided to go with a trade towards my 216570. But that was a month ago.


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[Kingranch]

Originally Posted by taylor2000

So I'm going throught the process of selling a watch on Crown and Caliber. I had an offer for cash that I accepted last Wednesday. Since that time it appears that Hodinkee and C&C are no longer paying cash.

C&C has confirmed receipt of the watch. They also confirmed via email my offer and that it's for cash. The terms of the offer said they would only reduce the price for the condition of the watch, which I'm not worried about. They said the evaluation process typically takes 3-5 business days. Since its a full kit from an AD, i cant imagine they are going to have any issues. Hopefully they are true to their word. We'll see.

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Hodinkee now owns C&C.

[taylor2000]

Originally Posted by Kingranch

Hodinkee now owns C&C.

I'm aware.

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[G23Guy]

A local grey by me is no longer taking in any Rolex. Said watch sales in general have screeched to a halt over the last 3 weeks. Scary times for the greys.

[Michael T]

I looked at their site just now. Fourteen unsold 116500’s, sounds excessive to me.

[Lukebennett21]

So I was under the impression that offers only came through Crown and Caliber unless you are consigning a piece through Hodinkee. Hodinkee did briefly offer cash/credit direct for trade ins but I don’t think it has been that way for several months.

[Kingranch]

Originally Posted by Michael T

I looked at their site just now. Fourteen unsold 116500’s, sounds excessive to me.

Look at all of the Sea Dwellers listed in C&C now, a month ago there were almost none. 3 months ago there were none!

I have noticed the 116660 SD is a little more scarce.

[Chewbacca]

Originally Posted by Chewbacca

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!

[JRell]

Good hope it slows up flippers

[taylor2000]

Originally Posted by Lukebennett21

So I was under the impression that offers only came through Crown and Caliber unless you are consigning a piece through Hodinkee. Hodinkee did briefly offer cash/credit direct for trade ins but I don’t think it has been that way for several months.

The offer I got gave me 4 options: Cash, C&C credit (which was like $300 more then cash), Hodinkee credit (which was like $2k more them cash), decline the offer.

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[Ensign]

Curious state of the Rolex market - no ones buying, no ones selling.

[taitun4life]

Originally Posted by Chewbacca

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

[Chewbacca]

Originally Posted by taitun4life

Ur Naija lingo is okay for an oyinbo

I need your to help!!!!

[Purple Hayz]

Originally Posted by Chewbacca

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!

[AJMarcus]

Watch times they are a changing.

[train-time]

Originally Posted by Chewbacca

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?

[Chewbacca]

Originally Posted by train-time

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?

[Lukebennett21]

Originally Posted by taylor2000

The offer I got gave me 4 options: Cash, C&C credit (which was like $300 more then cash), Hodinkee credit (which was like $2k more them cash), decline the offer.

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Ok now I remember what my hang up was!! They stopped allowing the credit for use of purchase of their pre-owned watches on Hodinkee. You could occasionally snag a LE Hodinkee collab watch at a profit but few and far between.

[htrap2294]

Originally Posted by Lukebennett21

Ok now I remember what my hang up was!! They stopped allowing the credit for use of purchase of their pre-owned watches on Hodinkee. You could occasionally snag a LE Hodinkee collab watch at a profit but few and far between.

LMAO so basically a way to get the watch for free if you pick wrong.

[jlovda]

Originally Posted by quakeroatmeal

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?"

[77T]

“Risk off” as they say in financial circles.

I believe Hodinkee may go to JIT inventory management. That is, sell first and then try to find a wholesale dealer to provide the Watch.


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[Wahlberg]

Originally Posted by Lukebennett21

Ok now I remember what my hang up was!! They stopped allowing the credit for use of purchase of their pre-owned watches on Hodinkee. You could occasionally snag a LE Hodinkee collab watch at a profit but few and far between.

So only new watches? Watches you can easily get a discount on.

Originally Posted by G23Guy

Scary times for the greys.

I bet. If sales keep tanking like this they'll have to ask their mom to cover the payments for their Porsche Turbo S.

[quakeroatmeal]

Originally Posted by taylor2000

So I'm going throught the process of selling a watch on Crown and Caliber. I had an offer for cash that I accepted last Wednesday. Since that time it appears that Hodinkee and C&C are no longer paying cash.

C&C has confirmed receipt of the watch. They also confirmed via email my offer and that it's for cash. The terms of the offer said they would only reduce the price for the condition of the watch, which I'm not worried about. They said the evaluation process typically takes 3-5 business days. Since its a full kit from an AD, i cant imagine they are going to have any issues. Hopefully they are true to their word. We'll see.

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You are most probably fine.

They also mentioned their offers went from being good for 30 days to only 7.

So you squeaked right in!

[taylor2000]

Originally Posted by quakeroatmeal

You are most probably fine.



They also mentioned their offers went from being good for 30 days to only 7.



So you squeaked right in!

So that was an issue too. Originally I got a quote back in April. It said for 30 days, so I figured I had time to make a choice. Then when I went back to it and clicked on it last week it was gone.

No problem i thought, i resubmitted the watch and the instant offer was noticable less. I reached out to C&C, and HUGE CREDIT to their customer service, they made it right and renewed the orginal offer for 7 days. That's the one I accepted.

They could've played games with me and they didn't.

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[boricuajr]

Originally Posted by Michael T

I looked at their site just now. Fourteen unsold 116500’s, sounds excessive to me.

sheesh, thats a lot, i feel like most greys were just stock piling them

[Polar Bear]

I've noticed a lot of grey dealers I follow on Instagram really pushing consignment now as apposed to outright purchase

No one wants to tie their cash up in a falling market

As much as i'd hate to see people go bust, there are a lot of new "backpack dealers" that are about to learn a valuable lesson