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Hurb

Where to begin???

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Hello, I am 19 years old and just now beginning to become interested in flipping watches. Could anyone please give me any advice at all about where I can get the best deals and how I could learn about this hobby?

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Hi

My best advice is to learn all you can before thinking about flipping for profit!
Stick around here, read/study the topics, visit the auctions/watch fairs, research, research....& more research.

Knowledge is king.

:thumbsup:

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You will learn by mistakes.  Buy what you like,  enjoy them and if you think you will make money on every watch you flip you will be wrong.  I still lose money on watches after 30 years, and it is now my only profession. 

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if you need to keep your losses down stick to brands with good marketing - the person buying might be thinking to flip too, and is more likely to buy something with good market leverage

 

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Any good fortune I've had with flipping watches has been a result of good luck, and nothing to do with experience. :(

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I have bought and sold dozens of watches and haven't made a profit; I am happy to move it on at the price I bought it for in most instances, In a few cases (Rolex for example) where prices rocketed I would sell for more than I bought it for or if I had done a lot of work on the watch.

I get pleasure from owning watches and for me it wouldn't be the same if I was doing it to make money.

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14 hours ago, Hurb said:

Hello, I am 19 years old and just now beginning to become interested in flipping watches. Could anyone please give me any advice at all about where I can get the best deals and how I could learn about this hobby?

TZ-UK loves new members asking about how to profit from flipping watches. You should try there first.

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As @scottswatches mentions, trading in watches is not for the faint hearted. Market sentiment is capricious. Much BS is peddled. And establishing a reputation in a field full of bandits (with just a very few "good guys") is difficult  --  even if you are very specialist (in which case @Karrusel's comment about knowledge is doubly pertinent).

There are many other areas of interest and hobbies in which you could trade where your prospects would be less precarious.

 

If, however, you have a thing for watches and wish to start a collection, you are in the right place. You will be unusual if you don't find you've made a few mistakes along the way, which will require you to "flip". Just don't necessarily expect to break even in the process; you'll be buying experience.

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All of the above advice is pretty sound in my opinion. I’ve bought and sold quite a few watches over the last few years and you definitely have highs and lows. Mind you I’m not in it for the cash, but rather to try out the watches I take a shine to.

Good luck!

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Not a collector here, but an hobby should be fun and something you like doing, forget about making money at least for now, if you do make a profit sometime then great but dont focus on it or you`ll be disappointed.

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13 hours ago, JoT said:

I have bought and sold dozens of watches and haven't made a profit; I am happy to move it on at the price I bought it for in most instances, In a few cases (Rolex for example) where prices rocketed I would sell for more than I bought it for or if I had done a lot of work on the watch.

I get pleasure from owning watches and for me it wouldn't be the same if I was doing it to make money.

I’m not really doing it to make a profit. I more of just want to trade until I have a collection of nicer watches than what I started out with. 

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Hi Hurb, I'm also thinking about doing this. I'm going to first spend more time deepening my knowledge of watches before I start however. The best way IMO, is to build on the hubby of interest. And use that knowledge to flip once you get to a level you feel you can do that. 

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Don’t start would be my advice - you need a real knowledge of the market, buy prices/sell prices, customers/outlets for your purchases. Enough cash to be able to sit on stock if the market isn’t playing.

I did something similar but with Swiss Army Knives for a while. I was working in Zurich and could but the latest and greatest (and the special editions) direct and for a lot less than they were selling in the UK. I also have a contact that ran the local hunting/fishing shop. I could bring over 3-4 knives when i cam home, sell them for 10% mark up, and then he would do the same (too stupid to realise we were ‘smuggling’ at the time) we earns pocket money, but not enough to consider it any more than a side project for beer tokens.

Unless you can spot a fake at 50 feet, keep out of it.

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16 hours ago, Hurb said:

I’m not really doing it to make a profit. I more of just want to trade until I have a collection of nicer watches than what I started out with. 

It is becoming a little more difficult to get 'bargains' as Flebay prices are getting a bit silly, probably by as much as 30-40% higher than 'normal' and there are some people on there selling total rubbish and expecting to a get high price for garbage.

Once the auctioneers are open fully again there should be quite an amount of watch related items to sift through, but there does appear to be more people 'collecting/flipping' at the moment.

There are bargains out there, look for joblots of watches on Flebay, just be careful of the junk and the f_kes. Just don't pay more than you are prepared to lose.

I have made more than I have lost, and some of the losses were expected/planned for anyway. My only bit of advice would be to get to know a particular brand or a even a particular watch until you become more confident. I started off with Seiko 7T32, 7T62, 7T92 based watches, this way I could spot if something could be repaired easily, had the wrong sub-dial hands, had the wrong chapter ring, etc what I am trying to say in a long winded way is know your stuff, don't just run out and buy stuff because it is cheap therefore you think you can flip it for more.

Don't ignore the cheap stuff, I once bought an old manual wind Swiss watch for £2.93 (on the bay) and sold it on about a month later for £175.00, and I picked up a very old Rolex for £165.00 which took a little while to find the parts to fix it, but it is now worth around £3000.00

Enjoy yourself as it's a great hobby, and it can be profitable, but most people on here are collectors rather than sellers.

Probably the best person on here to get advice from would be @scottswatches as he really knows his stuff, and sells watches for a living I believe.

Anyway, that's me done with my surmon, I'm off to put on my £9.99 Casio  (which sell in Spain for around 30-40 euros...now there's a way to make instant profit if Spain let you in with a suitcase full of Casio's!)

Good luck! :biggrin: 

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tick-tock-tittle-tattle - I think you're right about the prices being higher than normal on ebay. I only really collect Casio's and look out for job lots with them in but some are making what I perceive at least as daft money compared to this time 6 months ago.

Saying that I've just picked up this lot over the last weekend for a little over £20 just because there's one I wanted & haven't seen before and thought it'd be a good addition to my collection.

It also looks like I'm going to have a few MQ-24's spare, so providing at least one works & when the raffle section is back open I'll offer one away to a new home on here for free. My interest in watches isn't quite the same as some but I have found a few things on this forum very helpful so I think it's about time I give something back to say thanks.

casios2.jpg

 

 

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On ‎24‎/‎05‎/‎2020 at 23:50, Hurb said:

I’m not really doing it to make a profit. I more of just want to trade until I have a collection of nicer watches than what I started out with. 

This is how I kind of started out and in my opinion the trick is to buy watches which are popular and easy to flip when the time comes. It is however, slightly more tricky than that... you need the buy the right model and this is where your knowledge and research come in to it. Which for me is the fun part of the hobby. For example an Omega Seamaster is a popular watch but buying the "wrong" one means you could get stuck with it or take a hit in the pocket. My advice would be stick around here and you'll learn a lot :thumbsup:

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