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fwhawk · 22 November 2019, 03:45 PM

Did anyone see the report on CNBC Thursday about The RealReal? Apparently quite a few of the items they sell ended up not being legitimate (despite their claims verifying authenticity of every item). They sell Rolex and other high end watches there. I figured a heads up was in order.

Knappo 1307 · 22 November 2019, 10:16 PM

The name of the site is annoying enough to keep me away.....

77T · 22 November 2019, 11:07 PM

Yes saw the story and we discussed a couple of things about the biz model. Clearly flawed.

On Rolex, Omega, AP, PP we have better results using trusted sellers here.

Sent from my iPhone using Tapatalk Pro

GLADIATOR · 23 November 2019, 12:32 AM

Problem with all these resellers is they can not stay fully up-to-date with latest fakes.

I know The REALREAL - they have good people, but so much incoming stock, fakes get by.

On a positive side they will give full refunds, they are not purposely trying to scam (sell fake)
A

locutus49 · 23 November 2019, 12:51 AM

We have sold stuff on this website with good results: Birkin and some other high-end luxury goods.

Lgear080 · 23 November 2019, 01:47 AM

It doesn’t help that internal docs about their own failure to catch even the most obvious fakes made their way to the media... jimmy ghoooooo

GLADIATOR · 23 November 2019, 01:49 AM

Quote:

Originally Posted by Lgear080

It doesn’t help that internal docs about their own failure to catch even the most obvious fakes made their way to the media... jimmy ghoooooo

well - were those documents based on "who cares" or "how do we correct this"?

Was it watches or handbags?

Thanks

Dan Pierce · 23 November 2019, 01:49 AM

Quote:

Originally Posted by Knappo 1307

The name of the site is annoying enough to keep me away.....

As are the ads. Worst commercials ever.
dP

Knappo 1307 · 23 November 2019, 02:12 AM

Quote:

Originally Posted by Dan Pierce

As are the ads. Worst commercials ever.
dP

Spot on Dan, that commercial where they are dancing making circles with their arms is eye rolling nauseating!

beshannon · 23 November 2019, 02:27 AM

Quote:

Originally Posted by Knappo 1307

The name of the site is annoying enough to keep me away.....

Completely agree, sounds like a scam site from the beginning

jvmartin · 23 November 2019, 07:58 AM

They have a few brick and mortar stores, including a huge store in a posh part of West Hollywood... I have pointed out fake rolexes to other resellers (not the realreal) in the past and generally their response is that their watchmaker signed off on it... the so called watchmaker usually looks at a few general indicators (i.e. serial number location) and gives it a greenlight but it definitely takes years of experience and expertise in order to determine not just the authenticity of a watch but its interchangeable components (i.e. dial, band, etc.)...

GLADIATOR · 23 November 2019, 08:06 AM

Quote:

Originally Posted by jvmartin

They have a few brick and mortar stores, including a huge store in a posh part of West Hollywood... I have pointed out fake rolexes to other resellers (not the realreal) in the past and generally their response is that their watchmaker signed off on it... the so called watchmaker usually looks at a few general indicators (i.e. serial number location) and gives it a greenlight but it definitely takes years of experience and expertise in order to determine not just the authenticity of a watch but its interchangeable components (i.e. dial, band, etc.)...

In NYC they have a ROLEX trained watch guy.

DVDA · 23 November 2019, 09:55 AM

Their watches are also overpriced. So there is that and now the authenticity issue.

Lgear080 · 25 November 2019, 11:20 PM

I think that the docs were indicative that the issue was out of control... and some of the misses were painfully bad.

77T · 26 November 2019, 12:02 AM

Quote:

Originally Posted by Lgear080

I think that the docs were indicative that the issue was out of control... and some of the misses were painfully bad.

True - and if they were ebay.com or craigslist, then people might react as if the clones were understandable.

But if your brand name and guarantee says “real” (and the prime value proposition and only differentiator) then buyers are right to drop them from future consideration.

A disaster that should spell an existential crisis yet the market doesn’t reflect that.

Their share price was lower in the Summer - before the current disclosures. Seems like the RealReal’s customers don’t read the news and just buys from an app and wears Jimmy Ghoo’s

Sent from my iPhone using Tapatalk Pro

tudorbaja27 · 26 November 2019, 04:44 AM

Quote:

Originally Posted by Dan Pierce

As are the ads. Worst commercials ever.
dP

X100. They make me throw up a bit in my mouth.

22 November 2019, 03:45 PM	#1
fwhawk "TRF" Member Join Date: Aug 2010 Real Name: Stu Location: Fort Wayne, IN Posts: 182	The RealReal Did anyone see the report on CNBC Thursday about The RealReal? Apparently quite a few of the items they sell ended up not being legitimate (despite their claims verifying authenticity of every item). They sell Rolex and other high end watches there. I figured a heads up was in order.

22 November 2019, 11:07 PM	#3
77T 2024 SubLV41 Pledge Member Join Date: Dec 2010 Real Name: PaulG Location: Georgia Posts: 42,017	Yes saw the story and we discussed a couple of things about the biz model. Clearly flawed. On Rolex, Omega, AP, PP we have better results using trusted sellers here. Sent from my iPhone using Tapatalk Pro __________________ Does anyone really know what time it is?

23 November 2019, 12:32 AM	#4
GLADIATOR "TRF" Member Join Date: Mar 2010 Real Name: Adam Location: Costa Blanca, Watch: YMII,GMTII,DAYTONA Posts: 5,288	Problem with all these resellers is they can not stay fully up-to-date with latest fakes. I know The REALREAL - they have good people, but so much incoming stock, fakes get by. On a positive side they will give full refunds, they are not purposely trying to scam (sell fake) A __________________ The truth is incontrovertible. Malice may attack it, ignorance may deride it, but in the end, there it is. Winston Churchill "We judge ourselves by what we feel capable of doing, while others judge us by what we have already done."

22 November 2019, 10:16 PM	#2
Knappo 1307 2024 SubLV41 Pledge Member Join Date: Sep 2011 Real Name: Jason Location: USA Watch: Sea Dweller Posts: 8,561	The name of the site is annoying enough to keep me away.....

23 November 2019, 12:51 AM	#5
locutus49 Banned Join Date: May 2014 Real Name: John Location: La Jolla, CA Watch: Platona Posts: 12,194	We have sold stuff on this website with good results: Birkin and some other high-end luxury goods.

23 November 2019, 01:47 AM	#6
Lgear080 Banned Join Date: Sep 2010 Location: NYC Posts: 3,506	It doesn’t help that internal docs about their own failure to catch even the most obvious fakes made their way to the media... jimmy ghoooooo

23 November 2019, 07:58 AM	#11
jvmartin "TRF" Member Join Date: Feb 2014 Location: Los Angeles Posts: 2,349	They have a few brick and mortar stores, including a huge store in a posh part of West Hollywood... I have pointed out fake rolexes to other resellers (not the realreal) in the past and generally their response is that their watchmaker signed off on it... the so called watchmaker usually looks at a few general indicators (i.e. serial number location) and gives it a greenlight but it definitely takes years of experience and expertise in order to determine not just the authenticity of a watch but its interchangeable components (i.e. dial, band, etc.)...

23 November 2019, 09:55 AM	#13
DVDA "TRF" Member Join Date: Dec 2009 Real Name: Devin Location: South Florida Watch: Deepsea Posts: 282	Their watches are also overpriced. So there is that and now the authenticity issue.

25 November 2019, 11:20 PM	#14
Lgear080 Banned Join Date: Sep 2010 Location: NYC Posts: 3,506	I think that the docs were indicative that the issue was out of control... and some of the misses were painfully bad.

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