the "Ask a Grey" thread

[S``]

Originally Posted by Mosco

There is nothing as defined as a jeweler's sheet or coin pricelist. Other than the retail pricelists, of course. But those are just a point of reference, as some brands trade at 90 - 100% of the retail or "list', while others at 12-15%, or 'cents on the dollar'.

Watch as an investment is not a myth, but it usually is not a quick flip type of scenario. Plus it does not apply to all models of any given brand - we can all agree that SS Subs retain better value than TT Oyster Perpetuals, for instance. Just watch the market, all brands have their 'front-runners'. Too many to list, of course - but name a brand and I will do my best.

Patek and AP... base models included since most will have the base models

TIA

[jim251]

Kudos for a great thread. Could be EPIC...

[bodybump]

Hi Greg...Oscar here im an Alchoholic...What color underware you guys wear? Kidding aside...would love to share my thoughts and experiences aswell... One experience i would never forget:

"Oscar can i trade my washer and dryer for your watch?"and the guy even gave me the model number and brand...

[HL65]

Originally Posted by bodybump

Hi Greg...Oscar here im an Alchoholic...What color underware you guys wear? Kidding aside...would love to share my thoughts and experiences aswell... One experience i would never forget:

"Oscar can i trade my washer and dryer for your watch?"and the guy even gave me the model number and brand...

You promised never to tell Oscar!!!

[azguy]

Maybe one of the best threads ever, TRF HOF...

I got another question, how come Breitling's get so little love in the pre-owned markets, it can be tough to sell one... even an Omega appears to be an easier sale....

[bodybump]

Originally Posted by SteelerFan65

You promised never to tell Oscar!!!

Ken yours was a newer model....

[Boothroyd]

Greg, in general, how do Grays handle warranty coverage, or service after the sale? Thank you.

[HL65]

Originally Posted by bodybump

Ken yours was a newer model....

At least I drove them to you!!

[bodybump]

Originally Posted by SteelerFan65

At least I drove them to you!!

[Mosco]

Originally Posted by azguy

Maybe one of the best threads ever, TRF HOF...

I got another question, how come Breitling's get so little love in the pre-owned markets, it can be tough to sell one... even an Omega appears to be an easier sale....

Breitling went through a period of making too many watches, too many models. They've definotely trimmed down the line-up, plus came out with a solid in-house movement. Let all the 'dogs' (Flying B's, 100 different Navitimers, ladies pieces, quartz pieces) cycle through the closeout market and we will see a partial resurgence. It isn't an overnight process, takes a couple years. Same as what happened with IWC and JLC about 5 years ago.

Originally Posted by Boothroyd

Greg, in general, how do Grays handle warranty coverage, or service after the sale? Thank you.

It depends... Some of the pieces we sell are under manufacturer's warranty as it is, the fact that we sold it has no bearing on the process. If it is out of warranty, every dealer has different protocol. Typically common sense should be applied.

[john333]

Originally Posted by SteelerFan65

At least I drove them to you!!

That's awesome Ken...was the washer and dryer a trade for an ALS deployant??

Greg-Awesome idea for a thread!! Really looking forward to reading this one.

[jolimont]

greg, thanks for the thread, lots of good information here

What do you do if you have international buyers (ie. australian) and they are worried about ridiculous amounts of import tax? If you don't want to answer here a PM will be highly appreciated

thanks

[HL65]

Originally Posted by john333

That's awesome Ken...was the washer and dryer a trade for an ALS deployant??

Greg-Awesome idea for a thread!! Really looking forward to reading this one.

It got me a Rolex cloth and a bezel protector!

[mfer]

As a scared to death seller, what kind of "references" do you make sure the seller has when he buys from you.

For example, if a guy just comes at you and says "I'll give you full asking price if I do paypal." Do you just do it or do some digging on the guy?

[mfer]

Originally Posted by Mosco

The inevitable began, with people looking for ulterior motives for me starting the thread. Just been accused (in private) of 'shilling' for my Ball inventory by the post I made earlier. Please let me assure, it isn't so.

The notions that I stock few pieces of this brand and stating that it is a stellar product are related, naturally. I want to sell watches, not take on a servicing nightmare. It's just logic.

Unbelievable.


I have met Greg in person and bought a watch from him and he has helped me buy watches for friends in my life. There are few people in this world as genuine as this man.

[Mosco]

Originally Posted by mfer

As a scared to death seller, what kind of "references" do you make sure the seller has when he buys from you.

For example, if a guy just comes at you and says "I'll give you full asking price if I do paypal." Do you just do it or do some digging on the guy?

Definitely do some digging - but really don't want to show all the cards publicly if that makes any sense. Due diligence is a must.

[Mosco]

Originally Posted by mfer

Unbelievable.


I have met Greg in person and bought a watch from him and he has helped me buy watches for friends in my life. There are few people in this world as genuine as this man.

Thanks Myk

[rowdy]

Awesome thread. Subscribed!!

Helps me demystify the thought processes and reasoning behind the grey market a little bit more as I continue to save for my first purchase, which will now be definitely through one of the trusted sellers I have been following on here.

[Texican]

Mosco, you are one super guy! I would have to vote this as the BEST thread so far this year! Really wonderful insight into this area of the Rolex world, mods need to make this one a "sticky"!!

[MyLexRX]

Greg - great thread, lots of useful information.

I have a warranty related question - when you sell a BNIB Rolex that you acquired from an AD via a large order, what happens to the warranty card? Do you sell it as 'Open' or do you fill in buyer's info, or perhaps the selling AD fills in the buyer's name?

thank you.

[Mosco]

Originally Posted by MyLexRX

Greg - great thread, lots of useful information.

I have a warranty related question - when you sell a BNIB Rolex that you acquired from an AD via a large order, what happens to the warranty card? Do you sell it as 'Open' or do you fill in buyer's info, or perhaps the selling AD fills in the buyer's name?

thank you.

Thanks!

Typically, the AD will fill in the name. As recent as a year ago, we could have asked AD's to leave cards blank, but they really don't like doing that anymore, as Rolex is clamping down.

[FNFZ4]

Originally Posted by Mosco

The inevitable began, with people looking for ulterior motives for me starting the thread. Just been accused (in private) of 'shilling' for my Ball inventory by the post I made earlier. Please let me assure, it isn't so.

The notions that I stock few pieces of this brand and stating that it is a stellar product are related, naturally. I want to sell watches, not take on a servicing nightmare. It's just logic.

I guess people always see the negative side of things as a first reaction to any good gesture. No good deed goes unpunished.

But I love math and I hope I dont offend you or any dealer for doing some Math...

400-600 Pieces in a year.... thats about 35-50 watches not counting the wholesale or the bulk closeouts...

lets be conservative with our estimates..

@400 watches a year, $300 profit per watch (which we all know is the low end... Avg profit IMHO is between 400-800 per watch)

thanks $120,000 per year Gross sales less over head if you have a store front and taxes paid to Uncle Sam.

@600 watches a year that $180k.

These are on a conservative $300 a pop. at the AVG $500 profit per Item then the money really shows....


Not A Bad GIG....

you get to earn an honest living and try on a lot of watches and be of service to other people wanting to have the best bang for the buck for a time piece.

[rolexgiants]

Originally Posted by FNFZ4

I guess people always see the negative side of things as a first reaction to any good gesture. No good deed goes unpunished.

But I love math and I hope I dont offend you or any dealer for doing some Math...

400-600 Pieces in a year.... thats about 35-50 watches not counting the wholesale or the bulk closeouts...

lets be conservative with our estimates..

@400 watches a year, $300 profit per watch (which we all know is the low end... Avg profit IMHO is between 400-800 per watch)

thanks $120,000 per year Gross sales less over head if you have a store front and taxes paid to Uncle Sam.

@600 watches a year that $180k.

These are on a conservative $300 a pop. at the AVG $500 profit per Item then the money really shows....


Not A Bad GIG....

you get to earn an honest living and try on a lot of watches and be of service to other people wanting to have the best bang for the buck for a time piece.

Jesus... Are u kidding me... I'm 1000 percent ur math is off anyway... Why don't u just pm the guy and ask him to email u his tax return...

[Kringkily]

Originally Posted by FNFZ4

I guess people always see the negative side of things as a first reaction to any good gesture. No good deed goes unpunished.

But I love math and I hope I dont offend you or any dealer for doing some Math...

400-600 Pieces in a year.... thats about 35-50 watches not counting the wholesale or the bulk closeouts...

lets be conservative with our estimates..

@400 watches a year, $300 profit per watch (which we all know is the low end... Avg profit IMHO is between 400-800 per watch)

thanks $120,000 per year Gross sales less over head if you have a store front and taxes paid to Uncle Sam.

@600 watches a year that $180k.

These are on a conservative $300 a pop. at the AVG $500 profit per Item then the money really shows....


Not A Bad GIG....

you get to earn an honest living and try on a lot of watches and be of service to other people wanting to have the best bang for the buck for a time piece.

I would definitely believe at 120k and the risk and time involved that wouldn't be a great gig... Some of the pieces they carry are like 20+ thousand which even someone with a 100K salary probably would have a hard time saving up for. Just my thoughts. I would let these details be the dealers own secrets as they bring us great watches at a great price :)

[Mosco]

Originally Posted by Kringkily

I would let these details be the dealers own secrets as they bring us great watches at a great price :)

this.

[FNFZ4]

Originally Posted by rolexgiants

Jesus... Are u kidding me... I'm 1000 percent ur math is off anyway... Why don't u just pm the guy and ask him to email u his tax return...

LOL is my computation really 1000% wrong I guess I was not good with math after all.... no wonder I had such a hard time in computer engineering school lol

Sorry if my post offended anyone. I didnt realized that it would really affect anyone with doing a computation.

[emagni]

If you can only have one watch, what would it be? I figure this would be an interesting question given how many watches you have handled.

[Mosco]

Originally Posted by emagni

If you can only have one watch, what would it be? I figure this would be an interesting question given how many watches you have handled.

Easy. My Milgauss GV is the only watch I can never see myself getting rid of.

[hdrazor251]

No question Greg. Just a great big THANKS for creating an interesting read.

[Mosco]

My pleasure, Jeff!