Would you commission with a jeweler?

[Sglider]

Pros and cons of course, it's not unlike trading in a car to some degree. The retailer assumes the risk, they make money, I get some percentage back, all without some aggravation, no different than selling on an auction sie.

I'm not ready to let go just yet, but the jewelry store who had the DJ I turned down last week has a Day-Date that I'm somewhat interested in. I could commission my rhodium DJ, put that money towards the Day-Date, but maybe lose out on a couple grand. That's a fee for convenience, I don't profit but don't have to deal with tire kickers, it's a win-win for the retailer.

20% is the going rate. Wait it out with a private sale? Take the money and run?

[CarlOver]

I think you mean CONSIGN.

[Sglider]

Originally Posted by CarlOver

I think you mean CONSIGN.

I think you're right

[tzwick]

It's a tough decision! Trading in or selling to a retailer can be convenient and hassle-free, similar to trading in a car. The retailer takes on the risk and makes a profit, while you get a guaranteed percentage back without the stress of dealing with potential buyers. However, you might lose out on some money compared to a private sale.

[Neil McCauley]

Originally Posted by tzwick

The retailer takes on the risk and makes a profit

No they don't.

With consignment, they make a profit with 0 risk to them. If they were taking on risk they would be paying out for the watch before they sell it - which they don't. While yes they perhaps take on some risk for after it sells, ie their own guarantee etc, but they have to do that on everything anyway so that's all worked into the final value you get at the end, so it's irrelevant.

It's doing business with property/assets they don't own. The only person carrying risk in this transaction is yourself.

In my opinion, it's a trading standard that should be banned.

[goldfixer21]

Originally Posted by Neil McCauley

No they don't.

With consignment, they make a profit with 0 risk to them. If they were taking on risk they would be paying out for the watch before they sell it - which they don't. While yes they perhaps take on some risk for after it sells, ie their own guarantee etc, but they have to do that on everything anyway so that's all worked into the final value you get at the end, so it's irrelevant.

It's doing business with property/assets they don't own. The only person carrying risk in this transaction is yourself.

In my opinion, it's a trading standard that should be banned.

This an odd take on the discussion. I have a jewelry store, and frequently have diamonds sent to me by vendors to show to customers, hence doing business with property/assets I don't own. It's no different than having items on consignment. Saying the store owner has no risk is not true. I would have to insure it while in my possession, and be responsible for any damage to it. That being said, I don't take items for consignment from the public. Profit margins are too small on them, and I would rather sell my own inventory.

[Cambo]

Two words: Timepiece Gentlemen

[Kevin of Larchmont]

I would never consign personal or company inventory with any retailer. They have no skin in the game with your product and will prioritize the sale of what they own.

[1William]

Don't consign your watch. It takes time, money from you to the seller and usually a lot of people handle your watch. I would either work a deal with the seller to get a DD or whatever watch you want in trade or I would find the watch I wanted with a Trusted Seller and do a trade outright.

[brandrea]

I’d approach a trusted seller here and make a trade if you want hassle free

[Yobber76]

I would look to trade your watch with a seller.

[77T]

Can you find that Day-Date elsewhere? I mean the one your jeweler has - and which got your wondering about selling your current Rolex to fund purchasing the DD.

I agree with others that consignment is potentially lengthy and very lopsided with regard to you getting a fair price for the watch you want to sell.

If a TRF trusted seller has the same or similar DD you want, then a potential trade + cash is the more seamless route.


Sent from my iPhone using Tapatalk Pro

[Calatrava r]

I would not cosign. A lot can go wrong when your property is in the hands of a third party. The actual cash to you from a consignment may not be enough over a straight sale to justify it. Sell it now for cash.

[youthagainsttt]

I am in the same boat, a reputable dealer gave me a quote yesterday which ws decent although I found out it's on consignment

What I wanted to know is that surely when you hand over the watch there will be a contract that protects you when the item is in their possession? Such as if it gets damaged or god forbid they lose it etc

[MRBolton]

I would avoid consigning a watch, especially if it was going to be in a retail store. What happens when you have a sales associate or customer trying it on who doesn't care much about the inventory, and it gets damaged--even if only scratches? Then if it didn't sell in 3-4 months, you go to get your watch back, and it's in worse condition than when you brought it there.

I would personally try to just get it sold to someone, either to a dealer or by yourself.

[Marcjvr]

Originally Posted by Sglider

Pros and cons of course, it's not unlike trading in a car to some degree. The retailer assumes the risk, they make money, I get some percentage back, all without some aggravation, no different than selling on an auction sie.

I'm not ready to let go just yet, but the jewelry store who had the DJ I turned down last week has a Day-Date that I'm somewhat interested in. I could commission my rhodium DJ, put that money towards the Day-Date, but maybe lose out on a couple grand. That's a fee for convenience, I don't profit but don't have to deal with tire kickers, it's a win-win for the retailer.

20% is the going rate. Wait it out with a private sale? Take the money and run?

Read about the timepiece Gentleman and his Ponzi scheme involving consignment watches he was holding

Just sell to a trusted seller on here