A few people in my collectors circles are ordering these HODINKEE watches with a “maybe I’ll keep it, probably I’ll sell it” attitude. I’m in Canada, so I’m sure flipping is even more rampant in the US where customs issues are less likely to eat into flipping margins.
Given these edition sizes, if you want the watch, you basically have to blindly buy in at 10 am and decide later if you will keep it. Whether you’re a flipper or legit collector or both, the thrill of the transaction keeps people coming back to HODINKEE for more.
Many of these flippers are younger collectors who are hustling to earn a few extra discretionary dollars to put back into their collection. More power to them, years ago I resold a few football tickets to fund my own trip to the World Cup.
Sure it would be nice if everyone who wanted this Oris could get it at MSRP, but everyone is buying these sight unseen. There is no firm line between collector and flipper when you buy off photos.
More people can afford to take a risk on flipping a $200 Swatch or $2,500 Oris than a $35,000 Vacheron Constantin, which is why you see the former on eBay and the latter on Steve Hallock’s website. But everyone wants to play their part in in this game and some will land up winners and some will land up losers. (I do not play in this game.)
In my opinion, the flipping can be explained alone by enthusiasts alone, but I could see some HODINKEE interns and junior employees taking similar action. I wouldn’t shame them. Living in NYC and working for a luxury lifestyle business on an intern salary, you’d have to be hustling or working two jobs (or come from an affluent background). I’d be surprised if senior employees at HODINKEE are engaging in this practice. $5,000 profit to risk a great job? Not worthwhile.