Basics of flipping

[Sammk]

Ok so I see they're a lot of flippers out here... Personally I'd like to flip too for my collection but don't want it to be a big hassle or to loose too much money in the process. I'm curious how flipping works out for you guys..what are your experiences and thoughts...when you flip do you:

A) flip for a brand new watch or do you flip for a pre owned watch?

B) do you deal with one person (a watch dealer) for the whole deal? Or do you sell your watch directly to the consumer get the cash then buy your piece from a watch from a dealer or a shop?

C) how much should one expect to loose, %age wise from what you paid or from MSRP, let's say on a Rolex which is 2-3 years old and in excellent condition?

D) how much have you personally lost %age wise (on MSRP or what you paid) on your own transaction stating your model and year of the watch.

Thanks

[MonBK]

B, part two

[Lol-x]

You can't generalise here, there is a wide diversity of enthusiasts.
What is right for one may be wrong for another.
A 2-3 year old Rolex is not an investment. As to how much it may depreciate, that is a function of multiple factors including the model, Rolex price increases, and demand to name a few.
Take your time to do some research that is relevant to what you want to buy and achieve.
I would warn you against buying a Rolex just to keep and sell in a few years.

[Brushpup]

Originally Posted by MonBK

B, part two

Then as Steve says....there are too many variables and personal choices to put a method out there for everyone. Good luck in your flipping, but if not done carefully, you can lose a lot of money rather quickly.

[dysondiver]

golden rule ,,,,

the day you buy , is the day you sell.

old car trade saying ,,, ie , buy rough and cheap , you can sell rough and cheap , buy expensive and pristine ,,, thats what you have to selll , there will be customers for both , and all inbetween ,,, remember ,
if it was easy every one would do it.

[benlee]

I love buying new watches. But I frankly hate the the selling part. The latter is a necessary hassle to deal with as I do not have unlimited funds. I tried as best as possible to buy only keepers so that I don't have to flip.

[dysondiver]

best way to end up with one million dollars from watch trading ,,, is to start with two.

[acr]

I buy various pieces (ones that I'm not necessarily interested in, but know that they are underpriced) low and sell for a profit in order to subsidize my losing flipping ventures on watches that are impossible to find deals on...

[SPARTAN2161]

Originally Posted by acr

I buy various pieces (ones that I'm not necessarily interested in, but know that they are underpriced) low and sell for a profit in order to subsidize my losing flipping ventures on watches that are impossible to find deals on...

x2

[trumpedaces]

Originally Posted by dysondiver

best way to end up with one million dollars from watch trading ,,, is to start with two.

[superdog]

I find it most convenient to go through one source.

But then, just like anything else, combenience costs.

I lose when I sell, because I sell to a gray dealer. Even with good pricing, he still needs to sell it again to make his money. So I take the hit.

I try to buy used whenever possible because if I sell a watxh I bought BNIB or used, I'm still selling a used watch.

To me, the safety, the security and the convenience make up for the loses. Besides, it's all part of the hobby.

[Dyim]

Originally Posted by dysondiver

best way to end up with one million dollars from watch trading ,,, is to start with two.

So true.

If you want to make $, do something else.

[Mastergreenhand]

Originally Posted by superdog

I find it most convenient to go through one source.

But then, just like anything else, combenience costs.

I lose when I sell, because I sell to a gray dealer. Even with good pricing, he still needs to sell it again to make his money. So I take the hit.

I try to buy used whenever possible because if I sell a watxh I bought BNIB or used, I'm still selling a used watch.

To me, the safety, the security and the convenience make up for the loses. Besides, it's all part of the hobby.

+1. I share the same logic.

[Solo118]

Originally Posted by Sammk

Ok so I see they're a lot of flippers out here... Personally I'd like to flip too for my collection but don't want it to be a big hassle or to loose too much money in the process. I'm curious how flipping works out for you guys..what are your experiences and thoughts...when you flip do you:

A) flip for a brand new watch or do you flip for a pre owned watch?

B) do you deal with one person (a watch dealer) for the whole deal? Or do you sell your watch directly to the consumer get the cash then buy your piece from a watch from a dealer or a shop?

C) how much should one expect to loose, %age wise from what you paid or from MSRP, let's say on a Rolex which is 2-3 years old and in excellent condition?

D) how much have you personally lost %age wise (on MSRP or what you paid) on your own transaction stating your model and year of the watch.

Thanks

What are you looking to do? For instance upgrade a 16610 to a 116610?

I have learned that the SS watches will lose a bit less, but if you want to swap out a TT or 18k model prepare to take a big hit unless you owned the watch for 8-10 years.

I made a good deal trading an older TT to 18k, but when I flipped the 18k I took a bigger hit

Bottom line, the juice is not worth the squeeze unless you just want the watch out of your collection.

[ndsleep612]

My take is to develop plenty of patience and sell your excess or unwanted watches. Then apply the funds towards something better. Even if you try to be "fair" in trading with a grey market dealer, you will still come up short. They make money on both ends.

[Rolexbiker]

The way I saw it after doing some research I could not find a current 2014 model no date sub under $6200. But I did find five year old ND SUBs at $5000. Online dealer selling ND SUBs late model for $6800+

If I figure the "cost" of owning the watch at $50 a month , That would make my watch worth $5000 ($3000WS?) for a two year old model watch. If Rolex raises prices My cost of ownership goes down.

With the prices I am seeing for over two year old pieces I think $50 a month to own is probably on the high side.

The problem will come when buying a replacement as it will be far more expensive as well.

Not being a long time owner and doing minimal research my hope for future value is likely wrong. LOL But i do know this. A Brietling or most other brands are not as liquid or hold their value as well. This is the reason although I wanted the Brietling I chose the Rolex.

[swils8610]

Buy low. Sell high.

[subtona]

Agree with points above


I would add it also comes down to what you are trading out of.
As an example, if you bought a hublot (not trying to pick on them) and are trading it,
you are sure to take a hit vs if you are trying to trade a submariner or Daytona etc.

There are a lot of hassles that come along with selling.

if a trade price is close, for me it's often worth it to avoid those hassles.


"Close" is the number we each have to define for ourselves

[Danex]

Flipping is never part of my plan. I think of Rolex as a life-long purchase. The product is designed just for that reason. That said, a flip may be called for if you are not feeling the love. To me, flipping is like getting divorced.

[crowncollection]

Simple, buy only good deals that allow for selling at worst at the same price to the general public.

[Evad3]

Your money is made when you buy - so buy right

[zama]

Originally Posted by ndsleep612

My take is to develop plenty of patience and sell your excess or unwanted watches. Then apply the funds towards something better. Even if you try to be "fair" in trading with a grey market dealer, you will still come up short. They make money on both ends.

I concur patience is the key no matter what, and if dealing with second hand traders you need to realise they need to make a margin. I usually sell on Ebay have great rating on a number of expensive items and usually find a buyer that way. I accept there is a bit of a hit in fees etc, but for me it works and sometimes I do make a little on the watch. I rarely buy new so there is scope to trade into a small profit.

If dealing with a dealer where you are flipping for something you want you need to realise you will not come out square on the deal but you do have less hassle. Either way nobody really enjoys selling watches but it is a necessary evil to continue to get what you want if you don't have an unlimited budget.

[domrusso10]

Originally Posted by dysondiver

best way to end up with one million dollars from watch trading ,,, is to start with two.

Lol same way a women can make you a millionaire. If you start as a billionaire.


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[red1108nyc]

Originally Posted by Sammk

Ok so I see they're a lot of flippers out here... Personally I'd like to flip too for my collection but don't want it to be a big hassle or to loose too much money in the process. I'm curious how flipping works out for you guys..what are your experiences and thoughts...when you flip do you:

A) flip for a brand new watch or do you flip for a pre owned watch?

B) do you deal with one person (a watch dealer) for the whole deal? Or do you sell your watch directly to the consumer get the cash then buy your piece from a watch from a dealer or a shop?

C) how much should one expect to loose, %age wise from what you paid or from MSRP, let's say on a Rolex which is 2-3 years old and in excellent condition?

D) how much have you personally lost %age wise (on MSRP or what you paid) on your own transaction stating your model and year of the watch.

Thanks

A through D are all moving parts with no set boundaries. All comes down to your comfort and gut which is a reflection of your value system and personality. When you flipped without knowing that you have been flippin'.. you have arrived!

[nyyankees]

The key to selling is buying at a good price. Generally speaking you can at lest break even selling a Rolex or Omega that you bought pre-owned at a reasonable price. If you buy new you will lose. So I guess a rule for,lipping would we "don't buy new". There are so many good sellers here I can see that you might be inclined to deal with a limited number of people. I think that can be good as it's all based on trust.

[HL65]

Point C answer: Enough to make you never do it again.

It is all in what you pay for a watch so buy smart!

[SC11]

I have flipped three watches this year but as I picked up my 116610LN on release with a small discount and after a few Rolex price adjustments it was worth a little more once I sold it!

This profit covered what I lost on my two other flips this year, both were purchased BNIB and flipped within 6 months so obviously would of cost if it wasn't for the 116610 sale.

I orginally purchased BNIB as my attention was to keep but now see the attraction of preowned!

On a side note as all but one came from the same place I have built (be it small) buying relationship I sercured a better discount on my last two pick ups which initially I wouldn't of been able to do!

[VICI]

All moving parts man... If you're paying Msrp for a watches, they better be in extremely high demand or you.will.lose!

Why do you think the sellers here are in business? :)

[adamlea]

Originally Posted by domrusso10

Lol same way a women can make you a millionaire. If you start as a billionaire.

[Lion]

You have asked questions which do not have a "Right or Wrong" answer…they are all open ended discussions. And you could ask 100 owners' and get 100 different answers. What ever happened to enjoying the watch you have and the pleasure derived from owning it?

Most everyone seems to be thinking in terms of money spent, how much will I lose, what is this watch worth, can I sell and make a profit…..where no one appears to put a value on the enjoyment experienced by owning a nice watch...wearing it everyday…and using it for its purpose which is to tell time!!!