See, they need to make a living too. These watches are not the hot sellers, so the margins must be larger. They inspect, clean, sometimes service the watch and give the new buyer warranty, they need to take photos, post it, have their capital bound in the watch, pay taxes on the sale, all this costs money. The benefit is, you get paid quickly and it’s mostly uncomplicated. But of course you will always get more money selling direct to private. It’s a choice of convenience, as is buying from them.
No question to all your points, but I was able to sell to a professional dealer (that only sells online) for $1200 more. As a future buyer, I now know their margins so I think I’ll be a whole lot more aggressive with my offers! I have zero issues with healthy profit margins but that was a little too much in my opinion! Thank you for sharing!
@@wristopia4101 I bought second hand and it was just new. I sold a couple of weeks ago so not sure what happened with it and at this point as a seller that sold his watch why would I care if it sold or for how much ?
Dont sell a watch to a business with a store front full of watches. Dont sell a car to a dealership with a warehouse full of cars. Smaller businesses are more willing to work on smaller margins.
Smaller dealers also have less overhead costs. The dealers you mentioned especially the first 2 have big staffs, YT production crew, all that needs to be paid. I think if you are selling to them hype watch margins are much smaller because those watches are liquid. The IWC and Breitling might sit for a bit waiting for a collector.
@@rafaelfernandez3138 you’re absolutely correct and you bring some great points. I think we can all free though that 💯 profit margin is a little too much! That’s all! Thanks for sharing!
Maybe so, but as I proved by my sale it wasn’t what they offered and clearly the Breitling worths more than what they offered. In the end of the day I compared that they offered and what they sell them for so my point is the margins that can be over 💯. They all make videos talking about 20-30% and based on my experience that’s not true. Watch collecting can’t only be AP Patek and Rolex. That’s what they’re trying to sell which is why that’s all they show. Thankfully I got what I thought was fair within 10’ so I’m happy!
I sold over 10 watches over at the Rolex forum in the last 15 + years. Rolex, Omegas, IWC, Hublots, Pams, etc just to name a few and all are from my personal collection. I always get a PM from grey market dealers lowballing me which is crazy lol... Since my prices are way lower than theirs, my watches get sold pretty fast.
Exactly my point and what does that make you think next time you buy a watch? How much are you willing to offer them knowing the margins they’re going for, or even are you even thinking about buying from them? I’m all for profit but I’m against stealing. That’s all! Thanks for sharing! Ps. Sounds like you have awesome taste!
Used to deal with some of these clowns. No more,I developed a great working relationship with a local AD who actually values repeat business. He gives great value on trades and always finds a way to get a deal done👍
You pay for the convenience of quick sale, as the opposite of trying to sell yourself. Be prepared to waste alot of time dealing with lowballers and tirekicker😊
Absolutely you pay for the convenience! I was actually able to sell my IWC for $1200 more than the watchbox offer within 10’ of posting so it all depends I guess! Thanks for sharing!
watchbox, watchfinder, etc., they are almost certainly losing money and funding operations with venture capital. the margin feels huge to you but there is no way it pays employee salaries or even the costs of their content creation and keeping their website up. Your facebook solo dealer doesnt pay employees, doesnt pay their health insurance, and probably doesnt even pay taxes. As a seller you should get the best price possible but calling out watchbox is unfair and immature
Edward, your opinion is absolutely respected. But that they may run a money burning organization with big chance of losing their investor’s money is even more troubling in my opinion.
You're lucky to get any offer at all on those watches. Very, very soft. Old model IWC and quirky Breitling = DEAD STOCK for a dealer. Why would they put $$$ out to stock it? They can ask 100% profit as you mentioned, but who will buy that? They just get lost in the noise of NEW watches coming out and hype pieces. Watchfinder is the best of the ones you tried. They will buy anything ...
This is a good video, Konstantinos, but it all sounds normal and the math checks out imo. I can understand that businesses with overhead like payroll, insurance, hosting, time, and rent, would offer you almost 50% of the current market rate. That doesn't seem too unfair? They need to make money.
Mike, 50% sounds reasonable for the size of these companies, absolutely, but they offered much less than that. $2,500 for a watch that they sell pre owned on their website $4,300 on leather strap while mine had the strap and bracelet with extra links. I told them that I would consider that without the bracelet and they said then we would be very far off and if I change my mind let them know (watchbox). Thanks for the compliment and for sharing your thoughts!
@@ConstanTimebut 50% of 4300 is 2150. Add your extra links and stuff including their margin on those extra items 2500 sorta makes sense. Overall, watches get expensive. Buying and selling them. Wish they were all a bit cheaper 😅
@@mikekingsborough1 well, the bracelet alone is about $1500 retail plus $250 for the links, so all these extras are not just $300 even at a bulk price. Plus, if you’re a business owner with social media presence, how bad does it look to ask crazy prices and then offer so much less? It’s just bad marketing in my opinion. I’m not bitter about it, don’t get me wrong, I sold it to a dealer in the end for $3700 which made a whole lot more sense so I’m very happy. But it’s important to make this point so next time one sees a price they have an idea what the dealer paid and offer them the right price and not the asking. In the end many of these dealers are only online anyway so although the have some significant overhead, it’s not nearly as bad as a brick and mortar store. They are pricey aren’t they? Maybe that makes them more appealing to us did you ever think about that? 🤣
Agree with you here. They inspect, service, clean up or buff the watch, take photos, give warranty, pay taxes, insurance, leases, showrooms, capital stuck in that watch until it sells and that might take a while with Breitling and IWC. After these costs, sounds very reasonable to me. Obviously you can always sell for more directly to endconsumer.
i sold a new Ming GMT watch to Watchbox in 2023 (when it was still WB..lol...), they offered me ok money (30-35% off the RP), but i thought it could be more...but at least i know how they operate. but for the moophase Ming watch, they also offer the same price as the GMT and i rejected it, coz it was a higher priced item. so i kept it till now.
@@nicklestat 30-35% is reasonable I can’t argue with that, it’s when they go close to 💯 that I go crazy. Why don’t you try now and see what they say? It would be very interesting to see how they changed what they offer since! Thanks for sharing!
@@ConstanTime I think they would low ball me the same pricing...Lol... Considering the watch is now almost 2yo and Ming as a brand ain't as hyped, I reckon the pricing is thereabout... 😅. So I have given up selling, unless it's to another watch aficionado. 😄
@@nicklestat I would absolutely keep it, the main question to answer for me always is how much money would it take me to replace it. In my case I just felt if I want that model I wanted the newer version that had a ton of upgrades!
1916 paid my friend 3k for an unused watch (box and papers) and turned around and listed it over 7K. I was so ticked off. First by the fact that he traded it in at my referral without asking me if it was a fair price (he doesn't know much about watches, he had received it as a present). I would have easily grabbed it for that price. Second, they listed it over double of what they paid him. They're scumbags! Ibhad purchased a watch from them prior... After this, I never did business with them again!
@@ConstanTime chronoswiss chronograph. I think it was two tone. Could have been a non skeleton version of the opus. Box papers everything. This was back in 2015 +/-
This is absolutely the best thing to do really, but most of us have a glitch in our brain that says “if I sell this I can get that”. Ughhh so hard! Thanks for sharing!
I have to say that these guys need to make a living so do not really blame them for aiming high. They have a business to run with overheads. Do you get a discount when you buy at the AD or just pay list? If you pay list at the AD and then sell to someone that needs to make a profit to eat then it seems you have been bitten at both ends! Having no scamming issues/worries is pretty valuable when selling. Would you sell your car to a dealer or privately? How much do you think is a fair margin? The AD made 40-50% on you at list so is 20-30% reasonable to a reseller? If they felt it was an easy buck they would obviously buy it, so if they do not buy it this can only be because it is going to be a difficult watch to sell I would have thought.
@@wristopia4101 all great points and I don’t disagree on principle, but this case was very specific and the margins they were shooting for were close to 💯. The fact that I was able to sell the IWC in minutes to a professional online dealer for $1200 than what these guys offered is telling! Thanks for sharing!
They claim to have a ton of expenses on top of their offer. I notice they always mark up the watch 25%-100% from the price they purchased. That is an insane mark up. They are basically printing money.
Juan, that’s exactly my point. 25-50% seems reasonable for a luxury product and the kinds of overheads they have, but 💯? That’s just unethical if you ask me! Thanks for sharing!
They absolutely did! They always try to make themselves sound as the honest hard working people of the next door but they are really trying to squeeze every dime out of the people. I’ll all for a healthy margin but this is ridiculous! Thanks for sharing!
They make their money when they BUY the watch from you. That way if it doesn’t move quickly or end up having to discount it, they’re protecting themselves against a loss. You are taking the haircut for the convenience.
The big platforms gauge you, they have huge overheads, you have to be an utter buffoon to sell to the Watchbox. I approached them once. Like new GS. If retail is 10, you bought 8.5, they'll offer 3 while you can sell all day long yourself at 6, Watchbox will try to resell at 9. That's their model. Forget it, sell yourself, it takes some work but worth it.
You’re absolutely right, this is what I ended up doing with the IWC, the Breitling stays so no point trying. I can understand that they need to make money but 💯 is a little too much if you ask me! Thanks for sharing!
There sister company offered me $3800 for a Pam 190 lmao!! Complete set great shape 3 straps. They currently have a 190 near 9k F them 1916 is a joke Now buying from Luxary Bazaar was a pleasant experience and Grand Caliber consigned two of my watches for a fair percentage.
Bought 2 watches from Federic/Delray. One was a disaster purchase experience. I swore to never do it again. 2nd time I bought this spring - item was listed on sale and I think it was good buy. I dealt with someone other than F, the second time and it was ok. On trade ins they are kunts...
Buys a watch with poor resale value, is shocked at the offers he gets. Should 1916 not make enough money to pay salespeople, accountants, maintenance, rent, warehouse, etc? Who forced you to buy a watch with poor resale value? Grow up people. This is embarrassing.
they only make a couple of hundred dollars profit - that's what they make you believe. What they don't tell you is that's the profit over and above what they expect to make plus you're paying for employees, business address costs, expensive lunches, paying for their mercedes/lambo/gwagen etc..must be included in buying your watch. Instead of $500 think $2000+.
They will only buy if they can make a margin. They have to pay for verification, shipping, a possible service and insurance. All that is baked into the offer. I wouldn’t want to be a watch dealer. That’s a horrible way to make a living.
@@ConstanTimefor sure but don’t you want to create something of value for the world to admire rather than just be a “middleman” passing on costs to a consumer? Money is not everything.
So you’re selling a watch you don’t like, because of all the deficiencies you mentioned, and you’re surprised no one is offering top dollar. Also - no one wants IWC or Breitling.
I never said I don’t like it, I said I know too much about the new model that I want that. That nobody wants them is your opinion that’s not supported by evidence as breitling for example is the third best selling watch brand in the U.S. according to the 1916 company’s sales information. That what I say might not serve your narrative or taste shouldn’t push you to spread misinformation. Thanks for sharing
Mate you're looking at gross margins. They have overhead and risk. Also asking prices aren't necessarily what the watches will for. It's a down economy so who knows how hard it is to sell softer pieces. If you want more retention value you have to stick with Rolex
Your points are all fair. There are only few Rolex watches I would go for and they are almost impossible to get. Plus when compared what I can get in other brands it makes little sense to get the Rolex. I have my name for a Sprite but I would only buy it at retail. The fact that I was able to sell for $1200 more than watchbox to a professional dealer on Facebook forums is telling about the offers I got from these companies. Thank you for sharing your thoughts!
@@ConstanTime I'm not saying that they are giving you the best deal. You need to shop about. However they run a business and they have a recognizable name due to their work on social media. You have to expect that they want higher margins than your local high street shop.
@@jchong416 you’re absolutely correct, my intention though is to share my experience with the enthusiasts and let them decide what’s best for them! It can be very disappointing when these dealers hype your piece and then offer peanuts to buy it back.
@@ConstanTime I'm a capitalist and small business owner myself so I have no problem with their tactics. It's a free market and if the punter doesn't like the offer they can shop about. If you want a quick and easy sale there is a price for that as well. All the best in your channel mate
@@jchong416 I absolutely am for capitalism, nobody would do anything for free. All I’m saying is that you can’t come out promoting and hyping products when you sell and then say it’s a slow seller when it’s time to buy. It’s a free market and I’m thankful for that but even at the business owner perspective, you want to have happy customers because it might come back and bite you in the butt if you don’t. Thanks for stopping by and good luck with your business!
I haven’t stopped laughing at you. You are completely disconnected of the prices the wholesalers buy these pieces. Around 50% retail!!!! That means you IWC new was around $3,400 to $3,800 considering kickbacks from manufacturers. And they can renegotiate or exchange with IWC if they don’t sell in certain time or send it to the grey market. And that includes support in warranty and training.
Christopher, it doesn’t surprise me but it’s notable. I was able to sell my watch to a professional dealer in a Facebook group within 10’ for $1200 more that what the Watchbox people offered. And do you think knowing how much they buy I would be happy to pay their high asking prices? I know they are big businesses with high overheads but as a seller, I don’t want to be that much under! Thanks for sharing!
Frederick sucks ! Bob's is cheap , but gave the best price. The Watch Box is the worst. Benards is like the blind leading the blind. Luxury Bizzar was a joke. Vokrum was pennies for the item. Said items Omega cronoscope, 12 James Cameron. Blue green milgus, Daytona, 118238 rare stone daydate. Panerai. ...... the best deal. Even with all the fees. Was Sotheby's
@@MehhhBushka all great information! I need to give it to Federico though because yea he’s offering very little but he passes those savings to his sales so his pricing is much better than the bigger guys! Thanks for sharing!
@ConstanTime he has crap on his site. His margin is 100-150% on the listed watches. Use a sotheby's hammer price to figure out what he or there dealers make. Most his stuff is around 4-5k no papers. Example panerai, so he paid 700-1,300.
@Dugger1991 Bob's is cheap. Only did business with them, because it was easy. Would not recommend them. Just like the guy in this video. I sold most of my stuff to dealers on the Facebook marketplace. And saved their info. Bob's damaged a watch I had. And could not afford an item. Only wanted to do consiment and their numbers did not add up
See, they need to make a living too. These watches are not the hot sellers, so the margins must be larger. They inspect, clean, sometimes service the watch and give the new buyer warranty, they need to take photos, post it, have their capital bound in the watch, pay taxes on the sale, all this costs money. The benefit is, you get paid quickly and it’s mostly uncomplicated. But of course you will always get more money selling direct to private. It’s a choice of convenience, as is buying from them.
No question to all your points, but I was able to sell to a professional dealer (that only sells online) for $1200 more. As a future buyer, I now know their margins so I think I’ll be a whole lot more aggressive with my offers! I have zero issues with healthy profit margins but that was a little too much in my opinion! Thank you for sharing!
@@ConstanTime Do you know what he sold it for?
Is it even sold yet?
Why did you buy new from an AD new rather than used from him?
@@wristopia4101 I bought second hand and it was just new. I sold a couple of weeks ago so not sure what happened with it and at this point as a seller that sold his watch why would I care if it sold or for how much ?
@@ConstanTime You're lucky the guy paid you though...
@@roybatty6368 based on the interest it got I say I’m not lucky at all!
The watch market is dying. This is actually a good thing for true watch enthusiasts and collectors.
It absolutely is a good thing because the last 3 years made everything impossible! Thanks for sharing!
I love the transparency. Great video
I’m glad you found it useful! Many people really didn’t like it so it’s probably too transparent for some 🤣. Thank you for your support!
Dont sell a watch to a business with a store front full of watches. Dont sell a car to a dealership with a warehouse full of cars. Smaller businesses are more willing to work on smaller margins.
Absolutely! That was really the moral of the story! Thanks for sharing!
Smaller dealers also have less overhead costs. The dealers you mentioned especially the first 2 have big staffs, YT production crew, all that needs to be paid. I think if you are selling to them hype watch margins are much smaller because those watches are liquid. The IWC and Breitling might sit for a bit waiting for a collector.
@@rafaelfernandez3138 you’re absolutely correct and you bring some great points. I think we can all free though that 💯 profit margin is a little too much! That’s all! Thanks for sharing!
Dude let’s be real here…IWC and Breitling (especially Breitling) have DISMAL resale value.
Maybe so, but as I proved by my sale it wasn’t what they offered and clearly the Breitling worths more than what they offered. In the end of the day I compared that they offered and what they sell them for so my point is the margins that can be over 💯. They all make videos talking about 20-30% and based on my experience that’s not true. Watch collecting can’t only be AP Patek and Rolex. That’s what they’re trying to sell which is why that’s all they show. Thankfully I got what I thought was fair within 10’ so I’m happy!
Iwc , breitling..best buy used.
Agreed, those brands are very weak and soft.
Idk, I never bought a watch thinking I would sell it. In my mind, I’m dying with them.
I sold over 10 watches over at the Rolex forum in the last 15 + years. Rolex, Omegas, IWC, Hublots, Pams, etc just to name a few and all are from my personal collection. I always get a PM from grey market dealers lowballing me which is crazy lol... Since my prices are way lower than theirs, my watches get sold pretty fast.
Exactly my point and what does that make you think next time you buy a watch? How much are you willing to offer them knowing the margins they’re going for, or even are you even thinking about buying from them? I’m all for profit but I’m against stealing. That’s all! Thanks for sharing! Ps. Sounds like you have awesome taste!
I am looking at selling a couple of my watches. Which forums do you use?
@@dr.kevinmoore8889 watch gang exchange - unaffiliated and unfiltered. That’s the only one I use on FB.
Frederico always says he has the cheapest in the country. So he pays very littel for the watch.
Absolutely agree that’s why I didn’t comment on him just mentioned him since I asked for an offer! Thanks for sharing!
They are not the cheapest at all. The watch groups and dealer chats are the cheapest
@@mattshafran1415 absolutely! Thanks for sharing, Matt!
Used to deal with some of these clowns. No more,I developed a great working relationship with a local AD who actually values repeat business. He gives great value on trades and always finds a way to get a deal done👍
Amen! That’s my point! You might not make max profit by being more fair in trades but you will get a happy repeating customer! Thanks for sharing!
I'm genuinely impressed with how close MAMACOO were able to replicate every aspect of this very very goofy looking classic watch.
Thanks for sharing the experience.
@@contrast1908 my pleasure! Glad you enjoyed!
Blasphemy to use Tim’s photo in a negative way
John!!!! Absolutely not against Tim, but he is working for watchbox which was part of my search! I love Tim!
You pay for the convenience of quick sale, as the opposite of trying to sell yourself. Be prepared to waste alot of time dealing with lowballers and tirekicker😊
Absolutely you pay for the convenience! I was actually able to sell my IWC for $1200 more than the watchbox offer within 10’ of posting so it all depends I guess! Thanks for sharing!
Thank you for putting it out there. Subbed
Thank you so much! I thought it was important to share!
watchbox, watchfinder, etc., they are almost certainly losing money and funding operations with venture capital. the margin feels huge to you but there is no way it pays employee salaries or even the costs of their content creation and keeping their website up. Your facebook solo dealer doesnt pay employees, doesnt pay their health insurance, and probably doesnt even pay taxes. As a seller you should get the best price possible but calling out watchbox is unfair and immature
Edward, your opinion is absolutely respected. But that they may run a money burning organization with big chance of losing their investor’s money is even more troubling in my opinion.
@@ConstanTime that's how all these internet retail plays do it, starting from amazon on down. burn cash to "scale"
You're lucky to get any offer at all on those watches. Very, very soft. Old model IWC and quirky Breitling = DEAD STOCK for a dealer. Why would they put $$$ out to stock it? They can ask 100% profit as you mentioned, but who will buy that? They just get lost in the noise of NEW watches coming out and hype pieces. Watchfinder is the best of the ones you tried. They will buy anything ...
Do you have experience on this as a collector or dealer?
@@ConstanTime Of course,. I have extensive experiences. Many many many watches and dealings over the last 25yrs.
@@roybatty6368 but are you a professional dealer?
I am collector.
@@roybatty6368 got it! It makes a difference on perspective that’s why I’m asking! Thanks for sharing!
This is a good video, Konstantinos, but it all sounds normal and the math checks out imo. I can understand that businesses with overhead like payroll, insurance, hosting, time, and rent, would offer you almost 50% of the current market rate. That doesn't seem too unfair? They need to make money.
Mike, 50% sounds reasonable for the size of these companies, absolutely, but they offered much less than that. $2,500 for a watch that they sell pre owned on their website $4,300 on leather strap while mine had the strap and bracelet with extra links. I told them that I would consider that without the bracelet and they said then we would be very far off and if I change my mind let them know (watchbox). Thanks for the compliment and for sharing your thoughts!
@@ConstanTimebut 50% of 4300 is 2150. Add your extra links and stuff including their margin on those extra items 2500 sorta makes sense.
Overall, watches get expensive. Buying and selling them. Wish they were all a bit cheaper 😅
@@mikekingsborough1 well, the bracelet alone is about $1500 retail plus $250 for the links, so all these extras are not just $300 even at a bulk price. Plus, if you’re a business owner with social media presence, how bad does it look to ask crazy prices and then offer so much less? It’s just bad marketing in my opinion. I’m not bitter about it, don’t get me wrong, I sold it to a dealer in the end for $3700 which made a whole lot more sense so I’m very happy. But it’s important to make this point so next time one sees a price they have an idea what the dealer paid and offer them the right price and not the asking. In the end many of these dealers are only online anyway so although the have some significant overhead, it’s not nearly as bad as a brick and mortar store. They are pricey aren’t they? Maybe that makes them more appealing to us did you ever think about that? 🤣
Agree with you here. They inspect, service, clean up or buff the watch, take photos, give warranty, pay taxes, insurance, leases, showrooms, capital stuck in that watch until it sells and that might take a while with Breitling and IWC. After these costs, sounds very reasonable to me. Obviously you can always sell for more directly to endconsumer.
This shows you how slow the watch market is.
@@interinvestments1 it absolutely is which is why I find myself drooling over watches at great prices! Thanks for sharing!
i sold a new Ming GMT watch to Watchbox in 2023 (when it was still WB..lol...), they offered me ok money (30-35% off the RP), but i thought it could be more...but at least i know how they operate. but for the moophase Ming watch, they also offer the same price as the GMT and i rejected it, coz it was a higher priced item. so i kept it till now.
@@nicklestat 30-35% is reasonable I can’t argue with that, it’s when they go close to 💯 that I go crazy. Why don’t you try now and see what they say? It would be very interesting to see how they changed what they offer since! Thanks for sharing!
@@ConstanTime I think they would low ball me the same pricing...Lol... Considering the watch is now almost 2yo and Ming as a brand ain't as hyped, I reckon the pricing is thereabout... 😅. So I have given up selling, unless it's to another watch aficionado. 😄
@@nicklestat I would absolutely keep it, the main question to answer for me always is how much money would it take me to replace it. In my case I just felt if I want that model I wanted the newer version that had a ton of upgrades!
1916 paid my friend 3k for an unused watch (box and papers) and turned around and listed it over 7K. I was so ticked off. First by the fact that he traded it in at my referral without asking me if it was a fair price (he doesn't know much about watches, he had received it as a present). I would have easily grabbed it for that price. Second, they listed it over double of what they paid him. They're scumbags! Ibhad purchased a watch from them prior... After this, I never did business with them again!
Sounds like a many other stories. So it happened to you guys. What watch was it? Thanks for sharing!
@@ConstanTime chronoswiss chronograph. I think it was two tone. Could have been a non skeleton version of the opus. Box papers everything. This was back in 2015 +/-
@@almeladze great information, thank you for!
Hey I have the same experience (bobs, fed, etc). Can you tell me which FB group to join to sell some $2k pieces? Thanks
Tim, I can see why! I only go to the “watch gang exchange - unaffiliated and unfiltered”. I hope you find better luck there! Thanks for watching!
@@ConstanTime thanks for the info
@@timchan334 pleasure Tim!
Greed, that's all it comes down to in the end. Thanks for the heads up.
Hey man, just came across your channel! You will go far! Great video and very interesting content! Keep it up!
Thank you so much Jim! I hope you’re right!
Interesting. Subbed - fellow Greek
@@dinospGR Dino! Great to see you here brother!
It’s easier just to keep your watches.my new motto is be happy with what you have.no diss
This is absolutely the best thing to do really, but most of us have a glitch in our brain that says “if I sell this I can get that”. Ughhh so hard! Thanks for sharing!
I have to say that these guys need to make a living so do not really blame them for aiming high.
They have a business to run with overheads.
Do you get a discount when you buy at the AD or just pay list?
If you pay list at the AD and then sell to someone that needs to make a profit to eat then it seems you have been bitten at both ends!
Having no scamming issues/worries is pretty valuable when selling.
Would you sell your car to a dealer or privately?
How much do you think is a fair margin?
The AD made 40-50% on you at list so is 20-30% reasonable to a reseller?
If they felt it was an easy buck they would obviously buy it, so if they do not buy it this can only be because it is going to be a difficult watch to sell I would have thought.
@@wristopia4101 all great points and I don’t disagree on principle, but this case was very specific and the margins they were shooting for were close to 💯. The fact that I was able to sell the IWC in minutes to a professional online dealer for $1200 than what these guys offered is telling! Thanks for sharing!
They claim to have a ton of expenses on top of their offer. I notice they always mark up the watch 25%-100% from the price they purchased. That is an insane mark up. They are basically printing money.
Juan, that’s exactly my point. 25-50% seems reasonable for a luxury product and the kinds of overheads they have, but 💯? That’s just unethical if you ask me! Thanks for sharing!
I think it depends on the price. 25% on a 100k watch seems excessive to me. 25% on a 3k watch won’t work for their cost structure.
@@koolpepfair point, although they were trying to get more than 60% which is a little too much if you ask me!
@@ConstanTime I’m talking about $20k-$60k watches by the way.
@@koolpep I’m talking about $20k-$60k watches. Minimum 25% and as much as 50% on this price range
Thanks for sharing. It's good to know what kind of crazy margins they're setting. These grey dealers have managed to 1up the used car dealers
They absolutely did! They always try to make themselves sound as the honest hard working people of the next door but they are really trying to squeeze every dime out of the people. I’ll all for a healthy margin but this is ridiculous! Thanks for sharing!
They make their money when they BUY the watch from you. That way if it doesn’t move quickly or end up having to discount it, they’re protecting themselves against a loss. You are taking the haircut for the convenience.
That’s correct, but knowing that now I’ll make different offers in the future when I buy! Thanks for sharing!
The big platforms gauge you, they have huge overheads, you have to be an utter buffoon to sell to the Watchbox. I approached them once. Like new GS. If retail is 10, you bought 8.5, they'll offer 3 while you can sell all day long yourself at 6, Watchbox will try to resell at 9. That's their model. Forget it, sell yourself, it takes some work but worth it.
You’re absolutely right, this is what I ended up doing with the IWC, the Breitling stays so no point trying. I can understand that they need to make money but 💯 is a little too much if you ask me! Thanks for sharing!
there is just not a lot of demand for second hand watches from brands like IWC and Breitling. you are better off with a Rolex watch.
@@robertbachmann8141 that’s true but there are only a couple I like and I would pay the premium to get them!
There sister company offered me $3800 for a Pam 190 lmao!! Complete set great shape 3 straps. They currently have a 190 near 9k
F them 1916 is a joke
Now buying from Luxary Bazaar was a pleasant experience and Grand Caliber consigned two of my watches for a fair percentage.
Imagine that many people think this is OK. Just read the comments. Some deserve what they get. Sorry to hear that! Thank you for sharing!
Spot on - Federico, Watchfinder, Luxury Watch Company, Watchtrader are all lowballing lowlifes.
Well, Fed at least sells cheap too!
@@ConstanTime
They aren’t that cheap and I know people that have gotten some models that claim were serviced, and they clearly were not
@@Lightdog555 oh wow I never heard these stories, thank you for sharing!
Bought 2 watches from Federic/Delray. One was a disaster purchase experience. I swore to never do it again. 2nd time I bought this spring - item was listed on sale and I think it was good buy. I dealt with someone other than F, the second time and it was ok. On trade ins they are kunts...
Great to hear someone’s honest real life experience! Thank you for sharing!
Buys a watch with poor resale value, is shocked at the offers he gets. Should 1916 not make enough money to pay salespeople, accountants, maintenance, rent, warehouse, etc? Who forced you to buy a watch with poor resale value? Grow up people. This is embarrassing.
Well, I sold it almost as much as I bought it in the end so
very educational , Thanks
I’m glad you found it useful, Steve! Thanks for your support!
they only make a couple of hundred dollars profit - that's what they make you believe. What they don't tell you is that's the profit over and above what they expect to make plus you're paying for employees, business address costs, expensive lunches, paying for their mercedes/lambo/gwagen etc..must be included in buying your watch. Instead of $500 think $2000+.
Omg I couldn’t say it better myself 🤣 thanks for sharing, Andrew!
They will only buy if they can make a margin. They have to pay for verification, shipping, a possible service and insurance. All that is baked into the offer. I wouldn’t want to be a watch dealer. That’s a horrible way to make a living.
Ivan, great points absolutely. But for them to be doing it, there’s obviously some great financial benefits! Thanks for sharing!
@@ConstanTimefor sure but don’t you want to create something of value for the world to admire rather than just be a “middleman” passing on costs to a consumer? Money is not everything.
@@ivansmith4242can’t argue with that, but they could use the money to make something great (I highly doubt it 🤣)
So you’re selling a watch you don’t like, because of all the deficiencies you mentioned, and you’re surprised no one is offering top dollar. Also - no one wants IWC or Breitling.
I never said I don’t like it, I said I know too much about the new model that I want that. That nobody wants them is your opinion that’s not supported by evidence as breitling for example is the third best selling watch brand in the U.S. according to the 1916 company’s sales information. That what I say might not serve your narrative or taste shouldn’t push you to spread misinformation. Thanks for sharing
Thanks for sharing
Thank you for watching, Juan!
Mate you're looking at gross margins. They have overhead and risk. Also asking prices aren't necessarily what the watches will for. It's a down economy so who knows how hard it is to sell softer pieces. If you want more retention value you have to stick with Rolex
Your points are all fair. There are only few Rolex watches I would go for and they are almost impossible to get. Plus when compared what I can get in other brands it makes little sense to get the Rolex. I have my name for a Sprite but I would only buy it at retail. The fact that I was able to sell for $1200 more than watchbox to a professional dealer on Facebook forums is telling about the offers I got from these companies. Thank you for sharing your thoughts!
@@ConstanTime I'm not saying that they are giving you the best deal. You need to shop about. However they run a business and they have a recognizable name due to their work on social media. You have to expect that they want higher margins than your local high street shop.
@@jchong416 you’re absolutely correct, my intention though is to share my experience with the enthusiasts and let them decide what’s best for them! It can be very disappointing when these dealers hype your piece and then offer peanuts to buy it back.
@@ConstanTime I'm a capitalist and small business owner myself so I have no problem with their tactics. It's a free market and if the punter doesn't like the offer they can shop about. If you want a quick and easy sale there is a price for that as well.
All the best in your channel mate
@@jchong416 I absolutely am for capitalism, nobody would do anything for free. All I’m saying is that you can’t come out promoting and hyping products when you sell and then say it’s a slow seller when it’s time to buy. It’s a free market and I’m thankful for that but even at the business owner perspective, you want to have happy customers because it might come back and bite you in the butt if you don’t. Thanks for stopping by and good luck with your business!
I haven’t stopped laughing at you. You are completely disconnected of the prices the wholesalers buy these pieces. Around 50% retail!!!!
That means you IWC new was around $3,400 to $3,800 considering kickbacks from manufacturers. And they can renegotiate or exchange with IWC if they don’t sell in certain time or send it to the grey market. And that includes support in warranty and training.
I’m glad, I’m here to make smart people happy!
Why is this a surprise to you?
The a gluey side of this hoppy dealing with very dark gray market dealers 😅😂
Christopher, it doesn’t surprise me but it’s notable. I was able to sell my watch to a professional dealer in a Facebook group within 10’ for $1200 more that what the Watchbox people offered. And do you think knowing how much they buy I would be happy to pay their high asking prices? I know they are big businesses with high overheads but as a seller, I don’t want to be that much under! Thanks for sharing!
It’s like going to a pawnshop really, it’s eye opening for my future offers on pieces now that I know their margins!
Don’t sell to the greedy grey market dealers. They will scam you and make a profit. Don’t do it. The watch market is dead 💀
Make a decent profit is one thing and being greedy like the experience I had is another! Thanks for sharing!
Frederick sucks ! Bob's is cheap , but gave the best price. The Watch Box is the worst. Benards is like the blind leading the blind. Luxury Bizzar was a joke. Vokrum was pennies for the item. Said items Omega cronoscope, 12 James Cameron. Blue green milgus, Daytona, 118238 rare stone daydate. Panerai. ...... the best deal. Even with all the fees. Was Sotheby's
@@MehhhBushka all great information! I need to give it to Federico though because yea he’s offering very little but he passes those savings to his sales so his pricing is much better than the bigger guys! Thanks for sharing!
@ConstanTime he has crap on his site. His margin is 100-150% on the listed watches. Use a sotheby's hammer price to figure out what he or there dealers make. Most his stuff is around 4-5k no papers. Example panerai, so he paid 700-1,300.
Bob watches has been great. Wes is the manager.
@Dugger1991 Bob's is cheap. Only did business with them, because it was easy. Would not recommend them. Just like the guy in this video. I sold most of my stuff to dealers on the Facebook marketplace. And saved their info. Bob's damaged a watch I had. And could not afford an item. Only wanted to do consiment and their numbers did not add up
@@MehhhBushka wow! That is insane! Can you share a link?
Greed, that's all it comes down to in the end. Thanks for the heads up.
Absolutely! Thank you for sharing!
Thanks for sharing
@@biniamtekle5911 thank you for watching!