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  1. #21
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    Re: Buying and reselling watches on eBay: how difficult is it to make a profit?

    Quote Originally Posted by cmatrix View Post
    I'm in need of lots of cash to fund my medical study. I have no access to public funds and bank loans won't help much- so I'm thinking of buying and reselling watches on eBay as a supplement to my full-time job.

    Do you guys think the eBay watch business is worth trying?
    you will make a profit for EBay. I haven't sold anything on EBay in close to a decade. I sell things on Craigslist. I have never had anything that did not sell on Craig's list so no reason for enays fees or to pay for shipping. Of course I haven't sold watches but I am sure if you have a desirable brand you can sell them on there as well.
    Last edited by atomicfront; January 25th, 2015 at 06:31.

  2. #22
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    Re: Buying and reselling watches on eBay: how difficult is it to make a profit?

    Quote Originally Posted by bamagrad03 View Post
    I do a bit of flipping on eBay. It's a grind. It's not impossible, but it's a grind. And if you don't have a way to source your watches, forget about it. Not going to happen.

    Here's the key to remember if you ever think you might earn a consistent living on ebay:
    - If you sell a $2000 watch, you owe eBay $200 and PayPal $58
    - CONUS insured shipping will run you at least $30.
    - You need to make a profit
    - You will have a 20% return rate (which doubles your shipping price)

    So, before you have ANY return losses factored an, ANY possible unscrupulous buyer nonsense factored in, and any lost packages factored in:

    You have to source that watch $258 cheaper than the market rate before you profit $1. And as someone mentioned before, eBay is a highly efficient market. You're going to get what you're going to get. People don't luck out and sell something for 20% more than they otherwise would have - on a consistent basis. No, they get the market rate.

    And it's a serious cash flow business. So you need at least 10-20k in play to make any decent money.

    And he will also have to register as a sole trader.

  3. #23
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    Re: Buying and reselling watches on eBay: how difficult is it to make a profit?

    It isn't too difficult to make a profit but when you want to make a worthwhile profit, that is when things become increasingly difficult. Saying that, I do find it much easier to sell on eBay due to the larger user base than on specialist forums.

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  5. #24
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    Re: Buying and reselling watches on eBay: how difficult is it to make a profit?

    Imo you'd probably need to buy and sell in quantity in order to make a reasonable profit (i.e. batches of 5 or 10 units in a single transaction). This might be especially true if you're new to sales (skilled salespeople make it all look easy when, in reality, it's anything but). And you'd, of course, need to buy low, sell high (which isn't likely to happen on eB*y). Otherwise, the fees paid and time invested per single unit sale would eat you alive. This is not to mention the non-paying deadbeats and the time killing "window shopper" questions you might have to deal with. As others have mentioned; you'd probably have a better chance of doing OK if you bought on eB*y and sold elsewhere (i.e. a Cr*ig's List or even a flea market kind of setting.
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  6. #25
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    Re: Buying and reselling watches on eBay: how difficult is it to make a profit?

    Quote Originally Posted by broudie View Post
    its been said here before: making a profit on arbitrage (buying on Ebay, then reselling same item on Ebay at a higher price) does not make sense. You are giving Ebay and Paypal 24% profit on every sale (half on the purchase, half on the sale) and Ebay is a very, very efficient market. Unless you are adding some sort of value to the watch before reselling both your buying pool and your customer base will be misinformed amateurs if you are expecting to make any sort of profit. Not a good way to go about things.
    That is not true. When you are the buyer/payer, there are no fees from either eBay or PayPal. You are charged only when you are the seller. eBay basically charges 10% and PayPal 2.9%. You are only having to cover 13%, and not 24%.
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  7. #26
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    Re: Buying and reselling watches on eBay: how difficult is it to make a profit?

    Quote Originally Posted by truthinthedetails View Post
    That is not true. When you are the buyer/payer, there are no fees from either eBay or PayPal. You are charged only when you are the seller. eBay basically charges 10% and PayPal 2.9%. You are only having to cover 13%, and not 24%.
    He obviously meant to say the initial seller/supplier of the watch will not "eat" the fees but add it to the purchase price.

    There was another fellow recently opened a similar thread, he was thinking it would be a great idea to buy cheap priced watches mostly from forum sales and put them on eBay...or back on the forum sales. Which of course, is a silly idea.

    If you are so desperate to go to school, either getna better job or a 2nd job if you could afford the time. Eventually you could also save for few years and THEN only go to school. All those are easier alternatives to the headache and potential grief of trying to sell on eBay, especially watches.

    DO....NOT....DO....IT !!!
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  8. #27
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    Re: Buying and reselling watches on eBay: how difficult is it to make a profit?

    Quote Originally Posted by truthinthedetails View Post
    That is not true. When you are the buyer/payer, there are no fees from either eBay or PayPal. You are charged only when you are the seller. eBay basically charges 10% and PayPal 2.9%. You are only having to cover 13%, and not 24%.
    Editing reply to this, since it has already been answered.

    Generally speaking, buying and then selling same item unchanged in the same venue is a poor way of doing business as it basically relies on chance (unless you want to hold on to the thing for long periods of time to make use of long-term price changes).

    What you need to do is to add value. How does that happen? If you want to sell watches, the easiest way to go about it is to buy broken watches to fix and resell at a profit. The watch that leaves your hand is actually more valuable than the one you bought because of the application of effort and you can sell it at a higher price without feeling dirty.

    Lots of Ebay sellers have this modus operandi as well. Especially sellers outside the US. Sometimes you better watch out for them as well, some foreign sellers buy broken watches and fix them with aftermarket parts to save money and do not disclose the fact or hide it in the small print (looking at you Korean Ebay sellers)
    Last edited by watchvaultnyc; January 25th, 2015 at 16:23.
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  9. #28
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    Re: Buying and reselling watches on eBay: how difficult is it to make a profit?

    Paypal + EBay = NoWay
    That sums it up very nicely.
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  10. #29
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    Re: Buying and reselling watches on eBay: how difficult is it to make a profit?

    Talking from experience here. Ebay is a f****** nightmare.

    I briefly gave this a go. The shafting you get in fees knocks the guts out of you and to add insult to injury you`re dealing with an unknown idiot element. I basically broke even right up until two days ago. Sold a gold watch as a `Repair/needing attention` watch. My advert couldn`t have more clear. The watch was bought by some filthy dog with scabby feedback that took it to a pawn shop to `make himself some cash` He then responded in broken English with " I take wach to gold shop an thay say is no all gold . onli case. I send bak!"


    That`s the kinda ..... you have to deal with plus the amount of scams/fakes/duff adverts to contend with. That or the "It`s losing 15 seconds a day" brigade. No one will convince you other than yourself but that`s my tuppence worth. There`s too many people in this game and unless you have the capital to buy big, ie; speculate to accumulate then it`s a hard road because contrary to what`said on here not a lot of people can afford top end Swiss watches. You`ll find that `non watch` people will funnily enough overspend on the likes of Tag or Rotary as they`re perceived to be `quality brands` and your market is limited for say a Vacheron Constantin. I`ve seen for example near new Longines Hydroconquests not selling and bust up quartz Tags go for hundreds more but that`s a status symbol to some and it`s hard to follow. In an ideal world we`d all buy cheap and sell high. Not usually the case.
    Last edited by bigkeeko; January 25th, 2015 at 23:06.
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  11. #30
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    Re: Buying and reselling watches on eBay: how difficult is it to make a profit?

    Quote Originally Posted by bigkeeko View Post
    Talking from experience here. Ebay is a f****** nightmare.

    I briefly gave this a go. The shafting you get in fees knocks the guts out of you and to add insult to injury you`re dealing with an unknown idiot element. I basically broke even right up until two days ago. Sold a gold watch as a `Repair/needing attention` watch. My advert couldn`t have more clear. The watch was bought by some filthy dog with scabby feedback that took it to a pawn shop to `make himself some cash` He then responded in broken English with " I take wach to gold shop an thay say is no all gold . onli case. I send bak!"


    That`s the kinda ..... you have to deal with plus the amount of scams/fakes/duff adverts to contend with. That or the "It`s losing 15 seconds a day" brigade. No one will convince you other than yourself but that`s my tuppence worth. There`s too many people in this game and unless you have the capital to buy big, ie; speculate to accumulate then it`s a hard road because contrary to what`said on here not a lot of people can afford top end Swiss watches. You`ll find that `non watch` people will funnily enough overspend on the likes of Tag or Rotary as they`re perceived to be `quality brands` and your market is limited for say a Vacheron Constantin. I`ve seen for example near new Longines Hydroconquests not selling and bust up quartz Tags go for hundreds more but that`s a status symbol to some and it`s hard to follow. In an ideal world we`d all buy cheap and sell high. Not usually the case.
    Some really good points here. And your comment about VC reminded me of another issue - if you buy anything that's not Rolex, Omega, or Tag, to make a real profit you must be willing to sit on the product forever. Which is why it's such a cashflow business. It's REALLY easy to see all your money tied up in inventory - which basically kills you because you need that cash to grab the good deals you see, but can't because you've got it in a $2300 limited edition Ball Trainmaster that 9 people in the world are willing to pay market rate for (and 8 of them already have that watch).
    cmatrix and bigkeeko like this.
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