cazalea
[Seiko Moderator]
17046
"Like a steak to a butcher, you don't fall in love with it, you just sell it and go on"
When I was a youngster in high school, my friend Bill's dad was a car dealer. Successful and energetic, he sold Chevrolets and then Mercedes-Benz cars. In 1968 Bill Sr took us under his wing.
The first thing he told us was not to fall in love with cars (oh foolish man, what a waste of breath) but to treat each car that came our way like a butcher treats a steak - no big deal, mark it up a bit and sell it to the next person in line at the counter.
Bill Sr was bored by the Mercedes dealership because they only sold a few cars a week. He loved doing deals and with Chevrolet they were selling dozens a day.
Of course Bill Sr, could not have foreseen how we would come to fall in love with food (or watches) as back then food was just something we needed to consume daily.
But things have changed. As example of how only the British can do meat ...
Anyway, the point of his story was if you are going to make a living, you've got to get the cars in, flip them, and get some more. No messing with the stereo or changing the wheels or hopping up the engine.
The lower the price coming in, the better. The higher the price going out, the better. The faster the better. No heart, no soul, just steaks (cars, watches) across the counter to the next one in line.
Cazalea
I think that's the essence of situation of your man in the taxi-cab / watch business.
We have complicated this by falling in love with watches.
Switzerland has complicated things by restricting supply.
Social media has ratched-up demand via influencers and Instagram.
Fabio is working the system to his advantage.
But this too shall pass...
Cazalea
More posts:
Diary of a Professional watch flipper.
This is the story of Fabio. Fabio makes the equivalent of £16,000 taxable salary every year just by flipping watches. The irony is he is doing nothing wrong or other irony is he’s actually a very knowledgeable watch Collector. In his collection he has a ...
Honestly there’s nothing wrong with that
I mean Fabio can only do what he does if the market wants to The problem right now isn’t with flippers rather than the buyers who entertain these ridiculous prices and buy way up high
Correct! I just refuse to be a 'zombie'
I don't want to entertain sellers with these very high prices and just enjoy what I already have I do want a 5980 or a vintage Sub but...no thanks!
He's taking advantage of the market. Just like Uber and Lyft did to his taxi business.
I don't like it but it's totally legal.
I don’t have a problem with his flipping but I have a problem...
with how he places orders under different names with different AD. That just “robs” other genuine collectors’ place in the waitlist....or people who wants to buy a watch for their kids graduation or wedding etc. Play fair.
The simple reason why people want to buy these watches for " graduations/ weddings" is that they retain value. Not necessarily because of the love for them.
True collectors do not stick to one or two brands. I say, stop moaning, buy something else if you don't want to pay the premium. Other brands give discounts. The watch might not necessary retain value, but it will work just as fine as the other 'brands' 😀...
The purposes I mentioned is just an example in response to this case...
I agree we should not neglect other brands as they are all improving with new innovation and will some day catch up with the more prestigious or famous “desirable” brands. I focus on 4 brands, PP, ALS, Rolex and Omega and I’m quite lucky for now, don’t ne...
Thank you Imran for starting an interesting topic.
If I were a taxi driver in UK, I would welcome any additional source of income. Playing around with different names is not very ethical. Anyhow, the main problem are the buyers. Are there really suitable watches available and the buyers need to pay a prem...
Mirage
My first time in Thailand I met a couple of English cats. Being a bit older and more sure of themselves I naturally gravitated toward them. The smarter, but less good looking of the pair, told me about how he flipped used luxury cars. A few years ago a pe...
"Like a steak to a butcher, you don't fall in love with it, you just sell it and go on"
When I was a youngster in high school, my friend Bill's dad was a car dealer. Successful and energetic, he sold Chevrolets and then Mercedes-Benz cars. In 1968 Bill Sr took us under his wing. The first thing he told us was not to fall in love with cars ( ...
Market forces. The Hong Kong market is full of flippers. Love them or hate them, they provide a service. If you really want a particular watch, then there is always
supply at a cost. Some might say, better than not being able to attain I.e. Be put on a wait list for who knows how long.
It has to return to normalcy when the market goes the other way. We have seen it before and it will happen again. The irony is the crazy number of watches Rolex puts out each year...
and still a huge supply gap. When disposable income tightens up the supply will loosen my .02 cents
