Flipping watches basically means selling watches for a profit. This usually pertains buying watches with potential at a lower price (Getting them polished and set if there is a need to) and then market them to be sold at a higher price to make a profit.
This does usually work for expensive watches that retain their value like Roelex submariners, some models of Omega watches, and others.
Watches flipping is a sort of item flipping and that implies buy valuable and extravagance looks for exchanging and make benefit from it.
To bring in cash through flipping watches, you need to turn into a watch seller, sell watches and advance watches in commercial center with a ton of procedures and assets.
The Business Of Making Money Flipping Watches
Some may consider it a craftsmanship, others simply a way to take care of the bills. Whatever you believe it to be, flipping is an approach to bring in genuine cash as it includes purchasing a resource at an alluring cost and afterward exchanging it to make money. The most well known kind of flipping is in all honesty house flipping/land.
Some Rules On Flipping Watches
Rule 1: Educate yourself on the watches you are planning on purchasing and i say that because you should really know everything you can about the watches that you’re buying it doesn’t matter if it’s a casio or a minute repeater know everything so that when you go to buy something you’re educated
So you know before you buy what’s going to actually happen if you try and sell it if you decide to keep it
Rule 2: Purchase with the intent to keep now definitely educating yourself is very important you should know if you’re buying a fake watch or if you’re buying a minute repeater or if you’re selling a minute repeater these are all very important things but always purchase with the intent to keep it.
In other words, if you’re purchasing a watch it should be something that you’re able to afford to actually keep it so don’t buy a ten thousand dollar watch with the intent to sell it even though you are not able to afford that ten thousand dollar watch so don’t go into debt to buy the watch because you think you’re going to be able to sell it always keep it in mind.
You may not be able to sell the watch so that you may have to actually keep this watch so let it be something that you actually like it should be a watch that you like so if you’re educating yourself on these watches it should be watches that you like enjoy the flipping enjoy the buying and selling of it.
As you get to own a watch for a short period of time that you really like and then you could sell it eventually if you want to and you could sell it for a profit or break even however if you’re going to lose money on the watch and you don’t end up wanting to sell it because you don’t want to lose the money you’ll be happy to keep the watch in your own collection
Rule 3: Selling is way harder than you think and always keep this in mind so selling a watch is a lot harder than you think if you don’t have a very large personal network of people who are looking to purchase watches all the time almost like a dealer whether it’s on instagram or somewhere else you have to plan on losing fifteen percent of your investment so in other words if you buy a watch for seventy five dollars and you’re able to sell it on ebay for one hundred dollars you have to plan on 15 coming out of that so you’re not making 25 you’re actually only making 10 because ebay takes a big chunk of that money it’s ebay a combination of ebay and of paypal so paypal also take a lot of money from you when you do make a sale
Your conventional audience will be way smaller and the chances of you getting the price that you’re actually looking for for your watch is going to be way smaller as well so that’s why putting things on ebay in chrono 24 exposes that sale to a lot more people if you’re using a small network of people that you have on instagram you’re actually putting that out to a lot less people and it’s a lot harder to sell
There are a lot of people sell on discord groups and and instagram and things like that you’re not getting top dollar for your watch that way so the way you could get top dollar is by putting it on ebay and it’s a lot harder to sell through those smaller networks it’s just something to think about ebay charges a lot of money paypal charges a lot of money and these are the ways that you have to get paid
Rule 4: Aftersale: If you are selling watches you’re going to need to offer some sort of after sale service if someone purchases a watch from you and then three days later it stops working you’re going to need to take a return it’s just the way it is if you want to build a reputation you have to be able to take returns from people who have watches and you sold watches to that aren’t functioning as intended to and the problem is that sometimes and i’ve been a victim of this people try and return watches that are functioning the way that they should be.
But they have changed their mind and again you need to take those returns it’s unfortunate it’s a pain and sometimes they are returned and they’re actually used now and now you can no longer sell the watches new that happens all the time.
Would You Be Able To Bring In Cash Flipping Watches?
So indeed, individuals bring in cash doing it. The greater part of us do what needs to be done for the sake of entertainment and attempt to lose as little as could really be expected, making little benefits to a great extent, taking misfortunes on different occasions, having the chance to attempt various looks for essentially a similar starting venture. The key is to purchase utilized and be patient when purchasing and selling.
The higher probability of discovering deals face to face implies there’s absolutely beneficial to be made by procuring under-valued stock locally. Purchase looks for 70% face to face, at that point exchange online for their actual worth. There’s cash to be made purchasing and selling recycled watches, in the event that you have the time, and realize where to look.
Step By Step Instructions To Start Flipping Watches
You will not earn a cent from flipping watches except if you are a watch aficionado yourself. Flipping anything normally begins as a pastime. Until somebody understands, “Hello, I could take this and exchange it!” If you’re new to the watch game, at that point the initial step to take is to join watch discussions and networks to get familiar with the matter of purchasing and exchanging watches.
3 Simple Strategies To Make Money Through Flipping Watches
Buy Watches The General Public Wants.
A portion of my best watch bargains have consistently been all the more notable models out there like the Panerai 88, Hublot Big Bang, Rolex Submariner, or Audemars Piguet Panda.
Your best customers are not other watch aficionados, but instead typical individuals who will need an incredible arrangement on their fantasy watch. To us watch individuals, all that boils down to every last cent and resale. To the normal individual, it’s about getting a good deal on their watch, not getting base expense. So more famous models improve more extensive crowds, while more specialty shop models do well as well, however, sit on racks for some time.
- Buy less than perfect watches and make them perfect.
Nobody likes to purchase deficient watches, or harmed watches. A great many people don’t have a clue how to change the lash on their watches or how to go about it.
This is the reason individuals pay a premium for incredible mint condition watches and furthermore the motivation behind why fragmented watches sit longer and acquire to a lesser degree a premium. This sets out a freedom for you to distinguish such watches, get them a lot less expensive, clean them and supplant any required parts like groups or screws just to exchange for a premium.
One of my best watch bargains was purchasing a Panerai 88 for $2,700 in light of the fact that it was feeling the loss of a case, and was beaten up pretty bad. I tracked down a pre-owned box on eBay for $100 and cleaned the watch back to new just to exchange it for $5,600 per week later. Harmed or helpless condition watches permit you the chance to improve edge on the off chance that you can fix for fragmentary expenses.
- Buy from people, not jewelers.
While a huge number of unimaginable arrangements can be tracked down everywhere on the web, the best ones come from individuals who regularly are selling their primary watches. Recognize them by searching for key expressions like “worn for a very long time and need something else” or “cherished it yet pitiful to release it”.
These people regularly have substantially less connection to the cash and are more intrigued to purchase their next watch. Since their absence of assets is typically expecting them to offer one to purchase another, their readiness to sell less expensive builds altogether and opens a chance for you, the purchaser, to flip their misfortune.
These are just 3 of the 100s of methodologies I educate to make some unimaginable side pay working 1 to 2 hours per day from your home or cellphone. An extraordinary chance to make some additional money while getting a charge out of the lavish way of life and permitting your diversion of wearing watches to open entryways all over.
That’s about it for this blog, if you have any further clock/watches-related questions, feel free to use the comment section below. And if you want to read an interesting article on why clocks don’t appear in dreams, we have a great article on just that so do give it a click if you are interested “Why don’t clocks appear in dreams? Clocks and dreams!“. Here is also a link about the history of clocks if you want to give that a look “History of timekeeping devices“