# Making A Profit From Buying And Selling Watches?!



## vestax32 (Aug 21, 2012)

Hi everyone, I am new to the forum. Have been an avid enthusiast for for a while and as I am self-employed and already run a successful business, I was thinking about trying to start buying and selling watches in a small way as a sideline. Does anyone do this already? How successful / unsuccessful have you been? How does the market fluctuate if at all?


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## levon2807 (Mar 17, 2010)

This is probably the wrong place to ask that as this is a hobby forum where we all tend to buy watches and keep them forever!

When we do flip a watch it's not with profit in mind but more to get money for that next purchase 

Like any item watches can be bought and sold at a profit but you'd need to do market research, buy them from the right places at the right price and then sell them for more.

Plus you have to remember when you sell them that Joe Public usually expects their newly purchased watch to work 100% so you'd have to have watches serviced and regulated before sale.

Obviously this forum isn't the place to buy watches to sell as A) that's dealing which is a no, no and B ) we all know what they're worth!


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## Haggis (Apr 20, 2009)

I think you are possibly in the wrong forum, we do buy watches, sometimes swap watches, and at times sell the odd watch. From my own experience profit is not much of a possibility. Mostly we get our money back if lucky. The interesting part of collecting is collecting. If you want to make money best not investing in watches just to sell later on at a profit.

Have you had any other thoughts about how to make a fast buck? I think beeny babies are back in fashion.


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## taffyman (Apr 26, 2011)

hi welcome most of the members on here buy and sell watches as a hobby and again most members will agree that making a profit on the forum is frowned upon as you will quickly find out. after all what you buy in most cases is a bargain price and to make a profit is a no no

regards H


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## simons194 (Jan 1, 2012)

Speaking for myself I have just bought this on the profits of selling a few unwanted ,now I should clarify this to me it was profit but in reality they were disposals with a bit of profit on the top .










Now and again one surprises you with a really healthy profit but its not why I do it ,its more of the fun of the hunt and when its been won they sometimes don't get the wear they deserve . There are clearly some people that make a living on ebay etc but it is getting harder and harder to spot the bargain with so many fakes out there.


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## mach 0.0013137 (Jan 10, 2005)

I don`t think I`ve ever made a profit on any watch I`ve sold :no:

But then I have had a lot of enjoyment out of the ones I`ve sold & imo that`s all that matters :thumbup:


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## mel (Dec 6, 2006)

If you are capable of servicing and regulating your watches yourself, then it is likely you can make a profit, however, starting from scratch would mean a substantial investmnet in tools and bits and bobs before you start to profit. Buy low, sell high and all is fine, but buying low often means time searching locally, or unseen buying from internet auctions. :yes:

You pays yer money and takes yer chances!

:weed:


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## taffyman (Apr 26, 2011)

yes but this isnt EBAY and most of the guys on here are genuine and will not try to catch you with a duff watch . if they do and are found out they will soon realise that they have made a big mistake TRUE


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## frogspawn (Jun 20, 2008)

My advice is buy expensive and sell cheap, works for me in all manner of ways, cars, watches...


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## tixntox (Jul 17, 2009)

Ask my missus if watches make a profit!!!! Our joint bank account says very much otherwise! Like most hobbies, it costs.

Mike


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## PilotWatchLover (Sep 23, 2012)

I've made a few profits from car boot finds,

It's doable.

Just don't make profit from this forum. :rltb:


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## vestax32 (Aug 21, 2012)

Thanks for the replies. As I thought really. I was thinking of buying from specialist internet auction websites (not ebay) and selling on ebay. From the research I have done so far it looks to me that a reasonable profit is doable, but Im looking more at the Â£5000 upwards price range so there will be more of a margin to make. As one of you pointed out though, the only problem is that you don't get to see the watch in the flesh before you purchase. Having said that most seem to provide a detailed condition report. I suppose its a case of informed judgement, research and a bit of luck! I have a watch for sale on eBay at the moment if anyones interested, see link below. This is not being sold for profit (am losing money!), but is being sold to make way for a new purchase!

http://www.ebay.co.uk/itm/170961467149?ssPageName=STRK:MESELX:IT&_trksid=p3984.m1555.l2649


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## knightrider (Jan 1, 2011)

frogspawn said:


> My advice is buy expensive and sell cheap, works for me in all manner of ways, cars, watches...


Very good :lol:


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## MarkF (Jul 5, 2003)

Can't really be done as a sideline, it's too time consuming. If you are determined, then look to buy from Poland/Spain and you can make money. It certainly helps of you have a "receiver" though, able to forward on many watches in one go, postage takes it's toll.

Are you an expert? You'll need to be in your intended market.

Why are you losing money? I don't think your start price is miles away from it's worth.

You state "This watch is unavailable elsewhere". But it is available elsewhere.


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## levon2807 (Mar 17, 2010)

You'll need to invest in a better camera for close up shots


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## vestax32 (Aug 21, 2012)

Mark, I am not an expert, but am an avid enthusiast. I al so have business experience etc. Im not looking to make millions as I already own a successful business, its more because Im interested in watches to be honest, making some cash out of it would be a bonus. I am losing money on the Oris because I paid Â£1200 for it! I intended to keep that watch but want to make way for another Breitling. Already have a Crosswind, and want a Transocean Chronograph.........


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## vestax32 (Aug 21, 2012)

Levon, yes I know, those were done on my iPhone 5....


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## PhilipK (Sep 23, 2011)

vestax32 said:


> I have a watch for sale on eBay at the moment if anyones interested, see link below.


Assuming that this thread is not just an attempt to list a watch for sale on here without having the requisite posting count yet, I would suggest that if you wish to do this profesionally:



You need much better photographs (as others have mentioned) - quantity, quality, resolution


You need a much better description of the watch, not merely "superb condition". Go over it with a 10x loupe and document every ding and dent. Otherwise it may well come back to you as part of a SNAD (Significantly Not As Described) dispute, and you'll end up refunding the buyer.


You need a photo of the movement


Phrases like "a rare opportunity to procure a future classic" are marketing ******** and are not going to make somebody buy your watch


Starting at Â£699 is not going to get you a buyer, unless you are extremely lucky to find the one person who wants this particular watch. If you are going to do this as a business, you need to be willing to start at 99p and let the market decide the value


Personally, I think that your price is too high. My rule of thumb for a watch like this is that the trade will buy at about 33% of retail and will sell at about 66%, whereas on a private sale you'd look at about 50%. (It's only Rolex and a few other very desirable watches that can stay ahead of these figures).


Why do you thinks it's rare? There are another 5 similar watches on eBay, and 15 on Chrono24


Saying "If you wish to pay via Paypal please contact me first" will get you banned from eBay. You have to offer PayPal as a payment option.


Inviting offers without using eBay's "Make An Offer" facility will get you banned from eBay.


Have a look at some of the auctions that the professionals post on eBay and learn from them. Also have a good look at some of their web sites (Ian Blower's, Mike Wood's and Austin Kaye's would be a good start) - that will give you a better feel for the level of presentation required, especially if you have aspirations of selling in the Â£5k+ market.

Don't forget that you will need a source of watches to sell - and that most of these will already be supplying people in the trade. You will need significant cash reserves (if you have 20 watches in stock at Â£5k each, that Â£100k in stock, and some of them may take over a year to sell). And, of course, you will need to register with the taxman.


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## mach 0.0013137 (Jan 10, 2005)

mach 0.0013137 said:


> I don`t think I`ve ever made a profit on any watch I`ve sold :no:


Actually I`ve just remembered, I did make a massive profit on the first watch I got off ebay back in 2005 h34r:

I won it for 99p plus postage & sold it a few years later in exactly the same condition for about Â£10 

I`m such a money grabbing capitalist :big_boss: :rofl:

Edited to correct a dumb mistake


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## Haggis (Apr 20, 2009)

frogspawn said:


> My advice is buy expensive and sell cheap, works for me in all manner of ways, cars, watches...





vestax32 said:


> Thanks for the replies. As I thought really. I was thinking of buying from specialist internet auction websites (not ebay) and selling on ebay. From the research I have done so far it looks to me that a reasonable profit is doable, but Im looking more at the Â£5000 upwards price range so there will be more of a margin to make. As one of you pointed out though, the only problem is that you don't get to see the watch in the flesh before you purchase. Having said that most seem to provide a detailed condition report. I suppose its a case of informed judgement, research and a bit of luck! I have a watch for sale on eBay at the moment if anyones interested, see link below. This is not being sold for profit (am losing money!), but is being sold to make way for a new purchase!
> 
> http://www.ebay.co.uk/itm/170961467149?ssPageName=STRK:MESELX:IT&_trksid=p3984.m1555.l2649


After reading this link and after seeing the Savation Army advert on TV my eyes are tired with all the tears.

:fox: You spell double the same way as Pilotwatchlover, interesting! :tongue2:


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## Mechanical Alarm (Oct 18, 2010)

Haggis said:


> frogspawn said:
> 
> 
> > My advice is buy expensive and sell cheap, works for me in all manner of ways, cars, watches...
> ...


I think that is 'do-able'


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## Haggis (Apr 20, 2009)

Mechanical Alarm said:


> Haggis said:
> 
> 
> > frogspawn said:
> ...


 :blush2: :crybaby:


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## MarkF (Jul 5, 2003)

vestax32 said:


> Mark, I am not an expert, but am an avid enthusiast. I al so have business experience etc. Im not looking to make millions as I already own a successful business, its more because Im interested in watches to be honest, making some cash out of it would be a bonus. I am losing money on the Oris because I paid Â£1200 for it! I intended to keep that watch but want to make way for another Breitling. Already have a Crosswind, and want a Transocean Chronograph.........


I am an avid enthusiast and also run my own business, I know a little about a lot of watches/manufactures. But IMO, you need to be an expert in what you are buying and selling if you are dealing in the high end range.

One thing I have learnt is that many owners of succesful businesses have only ever had one decent idea in their entire lives. Stay with what you know and have been successful at, unless, you can afford to and are happy to lose money..


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## vestax32 (Aug 21, 2012)

Thanks for all your advice, good food for thought.


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## vestax32 (Aug 21, 2012)

PhilipK, I see you have the M power logo as you profile pic, what do you have?


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## vestax32 (Aug 21, 2012)

PhilipK, I see you have the M power logo as you profile pic, what do you have?


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## PhilipK (Sep 23, 2011)

vestax32 said:


> PhilipK, I see you have the M power logo as you profile pic, what do you have?


Currently an E39 M5 and an E85 Z4M Roadster ...


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## PilotWatchLover (Sep 23, 2012)

Oi Haggis, my spelling isn't that bad?!


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## vestax32 (Aug 21, 2012)

PhilipK said:


> vestax32 said:
> 
> 
> > PhilipK, I see you have the M power logo as you profile pic, what do you have?
> ...


Very nice. I have owned loads of BM's including 2 x e46 M3's, but have recently changed to a B7 RS4 Avant, and I must say I haven't looked back! People who are into cars seem to always be into watches, technology etc........


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## no8yogi (Oct 1, 2012)

vestax32 said:


> PhilipK said:
> 
> 
> > vestax32 said:
> ...


so true explains the high number of Alfa Romeos in the 'what do you drive' thread!

as for your idea most of my points have been mentioned very eloquently above, my main one would be knowledge is power one duff purchase and you are really knocking your bottom line do be selective if it smell funny it probably is! good luck with what ever you choose


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## Stan (Aug 7, 2003)

Making money from selling watches?

An ungentlemanly act, on this forum. IMHO. 

Edit: I forgot how to spell wathces.:wink1:


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## Alas (Jun 18, 2006)

Stan said:


> Making money from selling watches?
> 
> An ungentlemanly act, on this forum. IMHO.
> 
> Edit: I forgot how to spell wathces.:wink1:


Agreed.

And it's spelt bottomless money pit, same as 710.


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## RTM Boy (Jun 1, 2011)

Making a profit from buying/selling watches??? :bangin:

Even going to car boots and getting lucky, by the time you factor in your petrol, time, repairs, servicing, posting items for sale, P&P, losses from timewasters and the dubious...etc... I honestly don't see it. Realistically, I think that if you make a profit on a sale it's a bonus. If as you say you're going for big ticket watches where there may be a margin, the risks are very high, especially if they need work to enable resale. In any case you'd need to know your product and market extremely well, understanding thoroughly what you're buying and selling...there are plenty of stolen and fake watches out there.

And HMRC will take an interest in any profits you make too.

But we're enthusiasts and don't care about money  just great watches :man_in_love:


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## DAC (Sep 22, 2012)

Another post that I have to hide from the Misses.

I've been playing the "it will go up in value" card for years. Watches are explained away as part of my pension


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## mrteatime (Oct 25, 2006)

dont see a problem in making a profit from buying and selling myself....like others have mentioned, having a steady influx of watches that people want is the way forward.....and getting a constant supply would be key.....

buying a watch and selling it to make a profit to buy another sounds like it would be lucky....to do it on a consistant basis would be difficult.....not unless you want to nick a tenner here or there.....

if you had the capital to buy a few dozen watches and set a website up then it could be doable.....but not to a WIS as we all know where to get a watch at a below market rate....thats why we're on here 

your more likely to have more chance with a dedicated website and get some traffic on it.....its tough out there at the moment so any venture might only net you a few quid here or there...

good luck in your quest and i wish you all the best!


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## Davey P (Sep 9, 2010)

I don't think many members on here are interested in making a profit, we're all here because we like watches, end of story. Personally, if I can more or less break even after flipping a watch I'm happy enough. Most of my sales involve a small loss, but my collection is only cheapies (all worth under Â£200, and most a lot less than that) so it's not enough to worry about.

The only time I have ever made money from watches was before I joined RLT, I managed to get lucky and buy an ebay joblot of around 90 brand new boxed Gul surf style watches for 80-ish quid and resold them individually. I think the "profit" was around Â£300 by the time I'd sold them all, but it took ages to shift them and I never bothered working out time spent fitting new batteries, taking photos for the auction listings, packing, going to the post office etc. Not really a way of making a living though, I ended up buying a 32" flat screen TV for the bedroom with my Paypal balance by the time I'd finished :lol:

Interesting topic by the way, so hats off to the OP for that :thumbup:


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## Phillionaire (Jan 23, 2010)

Not that I know anything, but IMHO a well-marketed niche seems the only way to make a profit.

Otherwise, do your research, and buy up every blurry, out of focus, poorly described watch on the bay, give them a good polish up and readvertise them back on again.


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## no8yogi (Oct 1, 2012)

I suppose the other way is to spot gems in job lots, something I have been lucky to do once, I got a beaten up watch for Â£10 but when I took the back off it had a lovely felsa movement 'worth' between Â£30-Â£40 if eBay completed listings is anything to go by. great % uplift but not going to put my kids through college!


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## mel (Dec 6, 2006)

mrteatime said:


> dont see a problem in making a profit from buying and selling *myself...*


h34r: by the hour?

"You are awful, but I like You!"


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## Stu1 (Oct 28, 2012)

Hi, I do think it would be possible to make money from high end watches, but as others have said you would need some decent capital to get started, for high quality items everything about your business would need to reflect this, from the quality of your website, photos, marketing and customer service. If it was me I would invest in the website and start with some good quality vintage watches from the type of brands you intend to sell and try to increase the value and quality as you progress.

As others have said look at the people who are already successfull in this market place, and basicly copy anything that they do well.

Good luck


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## pugster (Nov 22, 2004)

vestax32 said:


> Mark, I am not an expert, but am an avid enthusiast. I al so have business experience etc. Im not looking to make millions as I already own a successful business, its more because Im interested in watches to be honest, making some cash out of it would be a bonus. I am losing money on the Oris because I paid Â£1200 for it! I intended to keep that watch but want to make way for another Breitling. Already have a Crosswind, and want a Transocean Chronograph.........


that you are losing money on the oris (and paid Â£1200 for one) should tell you what you need to know..... you wont make any money buying and selling watches


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## Mechanical Alarm (Oct 18, 2010)

*The 11th Commandment:*

*Thou shalt not make any money on watches.*

*(AKA - Karma)*


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## Haggis (Apr 20, 2009)

DAC said:


> Another post that I have to hide from the Misses.
> 
> I've been playing the "it will go up in value" card for years. Watches are explained away as part of my pension


You can blame me and I will blame you. I think I will change my reasons. She can read.


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## vestax32 (Aug 21, 2012)

Well, you have all successfully put me off the idea!! I think I'll stick to buying watches for myself and losing money if I sell them, seems to be what everyone else does! Thanks for all your replies, very interesting.....


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