Flipping watches, the new classic car scene for PH'rs?
Discussion
I don't necessarily mean getting on a waiting list for the new sports model rolex but...
A few years ago I used to enjoy buying, using and selling some young timer classics-aircooled 911s, CSL etc but since the market exploded and, if I'm honest finding myself off the merry go round for a few years I can now only sulk at the sums involved in this fine hobby.
I have however bought a couple of nice watches cheaply in the past couple of years I'm starting to wonder at getting into flipping watches. Not for any serious gains but more for the enjoyment of owning a few nice pieces.
A bit like with old cars, if you can spot a trend developing you can (hopefully) purchase cheap on the second hand market after enjoying a period of research and making offers, enjoy the piece for 6 months or so and shift on to make enough modest gains to jump up the next rung of the ladder. Maybe?!
The buy in price isn't rediculous for say, three nice pieces and as a hobby there must be worse ones. Does anyone else do this? Ideas on where best to sell as a private individual?
A few years ago I used to enjoy buying, using and selling some young timer classics-aircooled 911s, CSL etc but since the market exploded and, if I'm honest finding myself off the merry go round for a few years I can now only sulk at the sums involved in this fine hobby.
I have however bought a couple of nice watches cheaply in the past couple of years I'm starting to wonder at getting into flipping watches. Not for any serious gains but more for the enjoyment of owning a few nice pieces.
A bit like with old cars, if you can spot a trend developing you can (hopefully) purchase cheap on the second hand market after enjoying a period of research and making offers, enjoy the piece for 6 months or so and shift on to make enough modest gains to jump up the next rung of the ladder. Maybe?!
The buy in price isn't rediculous for say, three nice pieces and as a hobby there must be worse ones. Does anyone else do this? Ideas on where best to sell as a private individual?
I buy quality over quantity and only buy what I really love with the intention of keeping them forever.
My luxury items are also a back up for if life goes tits up. Should I hit rock bottom I will have several thousand pounds worth of salable luxury goods.
Lucky for me my taste seems to be for watches which hold value well, but this is pure luck, I buy what I love.
My luxury items are also a back up for if life goes tits up. Should I hit rock bottom I will have several thousand pounds worth of salable luxury goods.
Lucky for me my taste seems to be for watches which hold value well, but this is pure luck, I buy what I love.
LaurasOtherHalf said:
This could be a problem, having purchased a Sea Dweller 16600 with intentions to flip for profit, I'm now totally smitten with the watch!
Yep ..lovely watch i have an e series 16600 and its my fav ...,i have the sd 4k as well,the glidelock strap is a revelation for easy adjustment.😀I love buying wearing then selling watches even to the point of obsession. I have just purchased an Omega Seamaster Pro it's the fourth one just keep going back to the model. As long as I don't lose big money which normally I don't I cannot see me stopping anytime soon The only watch I will not flip is my Sub 16800 that's for my grandson on his 18th
Edited by hilly10 on Sunday 26th February 08:18
HotJambalaya said:
subsea99 said:
I have my name down for the 50th anniversary Seadweller as i think thats only going to go one way.
Is there any news on this yet?HotJambalaya said:
subsea99 said:
I have my name down for the 50th anniversary Seadweller as i think thats only going to go one way.
Is there any news on this yet?
LaurasOtherHalf said:
I have however bought a couple of nice watches cheaply in the past couple of years I'm starting to wonder at getting into flipping watches. Not for any serious gains but more for the enjoyment of owning a few nice pieces.
A bit like with old cars, if you can spot a trend developing you can (hopefully) purchase cheap on the second hand market after enjoying a period of research and making offers, enjoy the piece for 6 months or so and shift on to make enough modest gains to jump up the next rung of the ladder. Maybe?!
The buy in price isn't ridiculous for say, three nice pieces and as a hobby there must be worse ones. Does anyone else do this? Ideas on where best to sell as a private individual?
I'm with you on this; it's easier to have a collection of watches than a collection of cars, and you can set your own price level of interest. Buying new and flipping, you'll need to be very lucky IMHO to make money... and if you buy new, wear the watch for 3 months, then try to sell, you'll be unlikely to match your original outlay.A bit like with old cars, if you can spot a trend developing you can (hopefully) purchase cheap on the second hand market after enjoying a period of research and making offers, enjoy the piece for 6 months or so and shift on to make enough modest gains to jump up the next rung of the ladder. Maybe?!
The buy in price isn't ridiculous for say, three nice pieces and as a hobby there must be worse ones. Does anyone else do this? Ideas on where best to sell as a private individual?
Better off buying older watches for enjoyment sake, but with a view that they might be worth something in future. I started following Omega Speedmasters a couple of years ago and now wish I'd gone in harder as the early 1970s ones are now double what I paid for mine, and the earlier stuff (pre-moon particularly) could easily cost £10k now, whereas 3 or 4 years ago, you'd probably have spend £2 or £3k.
I've been picking up 1970s and 1980s Seikos of late too; largely because I like them but I can see their values going upwards. Like cars, though, condition can be everything - buying a £100 watch with a beaten up crystal and non-functioning chronograph might cost you twice that to repair, and then you wonder if it would have been better waiting for a pristine £250 watch to come available.
The best place to buy is probably Ebay and on watch forums (check out Watchrecon); you might get lucky at other auctions too, but then the auctioneer will often skin you almost a third of the hammer price in fees, taxes, delivery charges etc. Selling, again, Ebay or watch forums probably the best place to get a decent price.
Edited by ewand on Sunday 26th February 16:04
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