As a part-time watch dealer, basically a Corona dealer, for a couple of years I find buying inventory rather difficult. Especially in Switzerland which is a smaller market. And of course it would take a lot of capital to have the stock I wanted. 😮
Ich bin auch aus der Schweiz und ein sogenannter Corona-dealer 😅 lass und doch verlinken :-) soll ich dir unter deinem ricardo mal die Handynummer da lassen? LG
Don’t list an Aquanaut video saying “bargain of the century” to then not sell to the highest bidder. Then a few months later have to list the watch desperately for 5k under the bid received because the market fell off. Karma at its best
Thanks for this visit man I am starting my own jewelry business I'm young but I'm a hustler. I sell watches not the big money ones tho. Sincerely, Connor from C&O Jewelry
Great video and your advice honestly applies to almost any product you can buy/sell/trade. Looking to get into watches but definitely will be applying this to my sports card business as well!!
You are a good video maker Phil, fluent, informative, interesting, & entertaining. Always best to buy from an AD as they have so much to offer the buyer, in 2023 I believe it will be less difficult. Thank you .
So if "buy the seller" is the rule in the watch business, as opposed to going with the cheapest offering, why would you give the advice to find a cheap online accountant? A good accountant will make you far more money than you pay them in fees. Are you likely to get that level of value from some cheapo online service??
Great video. Question, can you sell watches to other dealers if you get a watch on consignment from another dealer? I want to start but not sure where to find buyers if I get the watches on consignment from a dealer
my problem is that i donk know how to start without having 10k as start capital to buy my first watch can you make a video how to literaly start buying and re selling watches from scratch
If I start my business I would start by selling basic brands like seiko,Casio,tissot etc which don’t require as much capital you can get a tissot for sub 1000 and if you sell it right you end up with more capital so it’s like a cycle ig
Love the pikachu painting and thank you I have been really thinking of creating a watch and start a business of this type and I have been really doing a lot of studying and learning thank you ..
I've been thinking about buying and selling watches. I like watches, but don't know too much about them, I kinda have sentimental value towards watches not necessarily for their price or how nice they look. I am a bit cautious and think what if I cant sell the watch and just spend a thousand or more on that watch
start with a small investment and buy items you like for yourself if it goes wrong. If you have found an item that sells just increase the numbers. Do your research on prices and your markup. I would say if you dont have a 100% markup its not a great marked to be in, the higher the better. Your mindset should be lets to a trial with this product and if it dont sell you sell it at what you bought it for.
@LightFlame Yeah didn't think about keeping some mainly just reselling them, but yeah getting some that I like and if I make a sale great. I can make a profit to get more watches. If it doesn't sell then at least I get to keep a good-looking watch
@@gilbertorodriguez6203 yes limit your downside and trying something out to see if it works. also limit the investment vs profit scale. No point in having a big risk upfront for like 10% return. You may gain but there is a bigger probability that it will fail and then you need 10x gain to recover your expenses. better to bay for 1 and sell for 2-3 then you have a 300% markup. You can scale that quickly.
I am looking to start a watch business in next couple of years while I learn the trade on the high street. I cam buy some luxury watches like tag, tudor, omega, pan, cartier and iwc at big discounts, what models would be worth buying and holding
Do you mean buying directly from authorized dealers at retail price? Or used watches? What exactly do you mean by 'big discount '? If buying submariners, Daytona's, nautilus, some royal oaks at retail, new ... You will most definitely turn a decent profit ... Certain Rolex Daytonas and specific subs are more limited in production numbers and worth holding on to as even with market correction and drop in retail prices, those meteorite or platinum Daytonas will still demand over MSRP
@@MoAli-wm4of a 40% discount off brand new watches on the brands listed on my previous question for example i bought a brand new tudor gmt pepsi for £1920, no rolex or patek or limited editions unfortunately.
@@jujujonbitcoinisplanbcrypt9618 I'd be full steam ahead leading wit the IWC, panerai, omega and tag with 40 percent of msrp new ... If this is consistent supply and not limited thru an ad sales associate employment discount then I'd say uve got a business on your hands, certainly viable and profitable if not quite lucrative one. Why wait few years and esp if part time, not buy a handful of hottest ones available to you after researching them all and throw them on chrono24, ebay, watch funder etc ? They'll sell when priced right and limited work on your end ...
I'm currently coming into 10k and thinking of buying and selling. (I've got a vehicle restoration business). Would like to soft set up a flipping business for watches. So this is a great video for some basics for me. Thank you
Amazing informative video, I’m trying to get into the watch business and create my own designs alongside buy and sell from what’s currently on the market. Your right it’s ALLOT of hard work, however it’s always worth it in the end…. 😅😢 I hope
I was wondering why you called watches in my national slovak language cause in slovak is watch called hodinky which you can read like hodinkee, it is from the word hodina which is 1 hour in slovak so hodinky is like the pretty called word for hours
It came from the Old English word woecce which meant "watchman", because town watchmen used watches to keep track of their shifts. Found this answer from wiki. As a native English speaker this is an interesting question. Thank you for bringing it up!
So because something is a certain way, even though that way is wrong is just, "how it is"? And to add on to the previous excuse, "it happens in a sorts of businesses". So you haven't learned from your, How I tricked an AD video. You double down on your poor behavior. Add this to your watch auction BS with adding a minimum and we have quite a look into the soul of a former banker.
These days with all inflation and recession and shortage of luxury stuffs. Be careful to show what you got. They will rob you. It happened lot of time to other youtuber Paul Thorpe.
your AD can find out you sell them. They will then blacklist you. And dont say 'oh there still selling it and earning money, why do they care if you sell it?'... Because they just do. They want to sell to people who will keep the watch and cherish it
Literally messaged you on Instagram, then I found this. This is really helpful brother thank you. Your the most engaging I’ve seen in the watch space. Excellent content and info keep up the good work 💥
Hey, love the content! Do you by any chance know a friendly community and trading discord/Facebook groups? Would really appreciate it if you tell me some. Congrats on the awesome content, keep it up :))
![BLACK BAG - Official Trailer [HD] - Only in Theaters March 14](http://i.ytimg.com/vi/Du0Xp8WX_7I/mqdefault.jpg)
So are these tips for starting a watch business and not being able to shift your stock?
Phil, this is just brilliant; inspiring and very generous - you didn't need to do this. Wishing you all the best
He really really didn’t need to do this.
He really really really didn't need to do this.
@@067supremacy6 out of interest, do you flip watches - if so what would your advice be? Not trolling, genuinely interested
He really really really didn’t need to do this.
🌿🧘🏽♂️🎋
As a part-time watch dealer, basically a Corona dealer, for a couple of years I find buying inventory rather difficult. Especially in Switzerland which is a smaller market. And of course it would take a lot of capital to have the stock I wanted. 😮
Ich bin auch aus der Schweiz und ein sogenannter Corona-dealer 😅 lass und doch verlinken :-) soll ich dir unter deinem ricardo mal die Handynummer da lassen? LG
Ohh
@@robinnobs4760 I also live in switzerland, do you have any reccomendations where to find good deals?
Don’t list an Aquanaut video saying “bargain of the century” to then not sell to the highest bidder. Then a few months later have to list the watch desperately for 5k under the bid received because the market fell off. Karma at its best
What are u talking about?
Relax. Way to kick him when he’s down
What are you talking about
greed make ya payyy
I think he's saying that this channel did this? Dunno....
Thanks for this visit man I am starting my own jewelry business I'm young but I'm a hustler. I sell watches not the big money ones tho.
Sincerely, Connor from C&O Jewelry
Great video and your advice honestly applies to almost any product you can buy/sell/trade. Looking to get into watches but definitely will be applying this to my sports card business as well!!
Any tips?
Thanks for the shoutout Phil, we really appreciate it. Hopefully see you soon for a catch up!
You are a good video maker Phil, fluent, informative, interesting, & entertaining. Always best to buy from an AD as they have so much to offer the buyer, in 2023 I believe it will be less difficult. Thank you .
So if "buy the seller" is the rule in the watch business, as opposed to going with the cheapest offering, why would you give the advice to find a cheap online accountant? A good accountant will make you far more money than you pay them in fees. Are you likely to get that level of value from some cheapo online service??
Valuable insight ty
Hi Phil, question, how would your selling strategy change for less popular watch brands and also if the watches are sub 1K? Thanks
Step 1. Funding.
Great video. Question, can you sell watches to other dealers if you get a watch on consignment from another dealer? I want to start but not sure where to find buyers if I get the watches on consignment from a dealer
Don’t buy an Aquanaut on its bracelet…………
Sell it already
Why?
It's Rolex submariner stupid @silverlakeas
my problem is that i donk know how to start without having 10k as start capital to buy my first watch can you make a video how to literaly start buying and re selling watches from scratch
If I start my business I would start by selling basic brands like seiko,Casio,tissot etc which don’t require as much capital you can get a tissot for sub 1000 and if you sell it right you end up with more capital so it’s like a cycle ig
@@mohammedsantrampurwala5233 yeah but i dont see many people talk about these cheaper watches and tell which ones are good for resell
Number 1 - don’t pay tax - like this guy
Do you have enough market in the UK alone?
Honest Man, Love you
Love the pikachu painting and thank you I have been really thinking of creating a watch and start a business of this type and I have been really doing a lot of studying and learning thank you ..
Hey phil great video! But how can i "identify" myself as a watch dealer and buy at trade price when i am at a watch dealer shop?
Having the same question
I've been thinking about buying and selling watches. I like watches, but don't know too much about them, I kinda have sentimental value towards watches not necessarily for their price or how nice they look. I am a bit cautious and think what if I cant sell the watch and just spend a thousand or more on that watch
start with one brand and get to know it, thats how i started also
start with a small investment and buy items you like for yourself if it goes wrong. If you have found an item that sells just increase the numbers. Do your research on prices and your markup. I would say if you dont have a 100% markup its not a great marked to be in, the higher the better. Your mindset should be lets to a trial with this product and if it dont sell you sell it at what you bought it for.
@LightFlame Yeah didn't think about keeping some mainly just reselling them, but yeah getting some that I like and if I make a sale great. I can make a profit to get more watches. If it doesn't sell then at least I get to keep a good-looking watch
@@gilbertorodriguez6203 yes limit your downside and trying something out to see if it works. also limit the investment vs profit scale. No point in having a big risk upfront for like 10% return. You may gain but there is a bigger probability that it will fail and then you need 10x gain to recover your expenses. better to bay for 1 and sell for 2-3 then you have a 300% markup. You can scale that quickly.
Where do you find authorised dealers?
What's the green watch in the thumbnail?
Is that Viv's Collectables at 3:25? Literally just watched a video of his.
where is the best place to sell?
How to put your design into product for manufacturing
Hi great video. I’m looking on learning the fundamentals and so on, but what would be an okayish amount to start? Around 5-7k?
To High for beginer. 1k -2k it's good
How much did you start with?
Great video ! Thanks a lot!
How do i sell the watch quickly? I have a watch worth £300 up and hasn't sold in 2 weeks
have you sold it yet? lol
@@s78932 I wish 😂
Hey man, just Started monetizing on my passion and hobby. Hope to become bigger and better. Your video inspired me.
Thanks
can we buy brand new watches to resell ? or must it be used ?
Sell what you please
Of course you can
I am looking to start a watch business in next couple of years while I learn the trade on the high street. I cam buy some luxury watches like tag, tudor, omega, pan, cartier and iwc at big discounts, what models would be worth buying and holding
Do you mean buying directly from authorized dealers at retail price? Or used watches? What exactly do you mean by 'big discount '?
If buying submariners, Daytona's, nautilus, some royal oaks at retail, new ... You will most definitely turn a decent profit ... Certain Rolex Daytonas and specific subs are more limited in production numbers and worth holding on to as even with market correction and drop in retail prices, those meteorite or platinum Daytonas will still demand over MSRP
@@MoAli-wm4of a 40% discount off brand new watches on the brands listed on my previous question for example i bought a brand new tudor gmt pepsi for £1920, no rolex or patek or limited editions unfortunately.
@@jujujonbitcoinisplanbcrypt9618 I'd be full steam ahead leading wit the IWC, panerai, omega and tag with 40 percent of msrp new ... If this is consistent supply and not limited thru an ad sales associate employment discount then I'd say uve got a business on your hands, certainly viable and profitable if not quite lucrative one. Why wait few years and esp if part time, not buy a handful of hottest ones available to you after researching them all and throw them on chrono24, ebay, watch funder etc ? They'll sell when priced right and limited work on your end ...
@@jujujonbitcoinisplanbcrypt9618 buy all the Tags you can and hold them for at least 5 years
@@audemarspiguet4237 😂😂😂 I bought tudors mainly chronographs
can I be watch dealer without paying taxes?
People are going to report him for not paying tax
I'm currently coming into 10k and thinking of buying and selling. (I've got a vehicle restoration business).
Would like to soft set up a flipping business for watches.
So this is a great video for some basics for me. Thank you
Hello kind Sir, How’s it going?
Hi sir
For someone so young your advice is solid. Good stuff man
How much do I need to invest in myself?
Amazing informative video, I’m trying to get into the watch business and create my own designs alongside buy and sell from what’s currently on the market. Your right it’s ALLOT of hard work, however it’s always worth it in the end…. 😅😢 I hope
Me too! Want to design my own watches but don’t know where to start
how do i learn the fundamentals
Can you post the channels to learn fundamentals?
I was wondering why you called watches in my national slovak language cause in slovak is watch called hodinky which you can read like hodinkee, it is from the word hodina which is 1 hour in slovak so hodinky is like the pretty called word for hours
It came from the Old English word woecce which meant "watchman", because town watchmen used watches to keep track of their shifts.
Found this answer from wiki.
As a native English speaker this is an interesting question. Thank you for bringing it up!
Ok, subbed!!!
Ive contacted many manufacturers and they dont manufacturer 3rd parties. The inly ones that do is china but its cheap quality. Who did you use ?
Can anyone from America tell me how much I can charge for a “Consignment fee”
great video and content 👍👍 never thought a watch business was a thing
Is this a serious comment?
@@KSSpeed123 YES I've never seen anyone buy and sell watches as a business unless you are a jewellers
How can I start with 10k ??
Can I do this buisness even outside the US?
I want to do this but I am worried about buying fake watches
consignment for new players isnt easy bcoz youd need some sort of track record
Good tips
Thanks bro
Bro, could u just tell me what are the average expenses of a watch dealer?
I'm want to start a watch business. Is there any way to buy bulk thrift watches? Please see this comment
Definition of success ?
Watches are not an investment!
they can be if done right.
Great vid 👍🏻 very informative
POV: You watched the movie Uncut Gems.
Just one step is enough: chicken survival
Is he a storyteller?
This is a good video but your talking about becoming a grey market dealer and not an AD of any certain Brand.
So because something is a certain way, even though that way is wrong is just, "how it is"?
And to add on to the previous excuse, "it happens in a sorts of businesses".
So you haven't learned from your, How I tricked an AD video.
You double down on your poor behavior.
Add this to your watch auction BS with adding a minimum and we have quite a look into the soul of a former banker.
hOW ABOUT 2024?
These days with all inflation and recession and shortage of luxury stuffs. Be careful to show what you got. They will rob you. It happened lot of time to other youtuber Paul Thorpe.
Free ads on social media 😂😂 dont like
no Thanks i seen what happen to watch master #bristol #leighwoods
Back pack sellers in the bin already.
So many fakes it’s scary
your AD can find out you sell them. They will then blacklist you. And dont say 'oh there still selling it and earning money, why do they care if you sell it?'... Because they just do. They want to sell to people who will keep the watch and cherish it
Really? That’s a shame. And hypocritical
Literally messaged you on Instagram, then I found this. This is really helpful brother thank you. Your the most engaging I’ve seen in the watch space. Excellent content and info keep up the good work 💥
Rule numero uno -
DON'T BE A CROOK LIKE PHIL.
💥
I STILL DONT KNOW HOW TO START A WATCH BUSINESS
Hey, love the content! Do you by any chance know a friendly community and trading discord/Facebook groups? Would really appreciate it if you tell me some. Congrats on the awesome content, keep it up :))
King of BS 🫵🏾
For someone so young your advice is solid. Good stuff man