Losing Money on Watches

[roadwarrior]

many who lose a lot almost every time

May 23, 2020

Bruce Williams

I've found regardless of price point; losing money on watches is just brand and model specific. Some watches are very soft, and some hold pretty steady. If one is savvy, they could cycle through quite a few with minimal losses. That said I also know many who lose a lot almost every time... haha where do you fall?

 

[bobbyd]

I'd venture to guess the more expensive the watch, the bigger the loss. Not just percentage-wise.
Here's why...

1. less amount of prospective buyers
2. many buyers are apprehensive about buying used high end... no warranty, high risk of fakes
3. unless you are selling in person (much smaller buyer group, AND always a risk of robbery), you will be losing even more, paying additional fees, shipping, paypal, ebay. amazon, etsy, etc...

So, unless you're getting a great deal, and/or investing in a very limited edition, why buy what you don't absolutely love and plan on keeping for the long haul?

 

[ScottyB]

u mean they're not investments ?

but seriously never heard that 35% across the board rule... gonna try to keep conscious of it see if it has relevance virus tyme

 

[ScottyB]

agree mostly except Willi Sutton when asked why he robbed banks ; " because that's where they keep the money. " translation when demand outstrips supply on an object the rich desire it can cause strong supported prices and possibly appreciation...there is 1 brand i am thinking of and there has been a lot of chatter in the last few years of very strong prices...and my thrifty brother in law who gladly took my watch gifts over the last 10 years held up a grail on zoom proudly of this expensive brand because his rich friend said they held their value...I think over the last decade this was true...may be over the coming decade...we'll see

as for many many other brands like fish in the sea I concur with BobbyD 1,2,3

 

[buzzmartian]

I never entered this hobby with intent of making a profit. I'm a bit more selective on what I purchase these days but I will only sell the quartz models that I don't wear any longer. I know there is no profit in that. I'm okay with that because that money is long gone. Most are just Invictas or similar quality with not much value to begin with.

 

[dmccartney]

I got in for the fun, and have turned a nice profit over the last 2 years flipping watches. But I am also buying them in all states of condition, from completely trash to BNIB. I make more on the used ones than I do the new ones.

 

[roadwarrior]

'Investing' in Watches - How good is the money?

Jun 3, 2020

Bruce Williams

How much have you made collecting watches? I know there are a few of you out there who have done VERY well. Myself? I should win an award for losing money lol. So should you put some extra cash into this hobby? Or would you be better off putting that into precious metals? Thanks for sounding off guys.