Flippin' insanity! Or how to lose!
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  1. #1
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    Flippin' insanity! Or how to lose!

    Hello

    I am curious about this practice of flipping watches. Unlike the (sometimes) savvy practice of flipping houses, a flipped watch returns say 50% resale value on average (would love feedback on this as I am only guestimating).

    That's a loss realised everytime. Wouldn't you be better keeping your collection as it builds, and avoiding taking a cash loss on a regular basis?

  2. #2
    Member omega1234's Avatar
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    Re: Flippin' insanity! Or how to lose!

    Quote Originally Posted by Brendan12 View Post
    Hello

    I am curious about this practice of flipping watches. Unlike the (sometimes) savvy practice of flipping houses, a flipped watch returns say 50% resale value on average (would love feedback on this as I am only guestimating).

    That's a loss realised everytime. Wouldn't you be better keeping your collection as it builds, and avoiding taking a cash loss on a regular basis?
    I've made money on some sales and lost on others.
    Collection:
    Vacheron Constantin Overseas
    JLC Deep Sea Chrono
    Breguet Marine Grande Date
    Tudor Black Bay Black
    Omega Speedmaster 3570.50


  3. #3
    Member American Eagle's Avatar
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    Re: Flippin' insanity! Or how to lose!

    I'm not a serial flipper, but maybe I can help shed some light. Some people get great deals from gray market dealers (40-50% off MSRP) and when they flip the watch they come out just about even, or slightly under. So to them it is worth it to flip and put the money into another watch.

    Personally though, I prefer to choose my watches carefully and hang on to them for a long time. The shortest amount of time I've kept a watch was almost 3 years...while some I'm never letting go off (at least not any time in the foreseeable future.)
    Hamilton Khaki King
    Hamilton Thin-O-Matic
    Omega Speedmaster
    Rado Diastar
    Seiko 007
    Seiko 5 Military
    Vostok Amphibia

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  5. #4
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    Re: Flippin' insanity! Or how to lose!

    If you flip a new watch, you will lose practically every time (unless you get a screaming deal as described above) If you buy used, the previous owner already took the 50% hit, so you can stand to do OK

  6. #5
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    Re: Flippin' insanity! Or how to lose!

    Plus it depends on if you're flipping watches for the express purpose of making profit. A number of WIS are fickle regarding their tastes and go through a number of watches before finding something worth keeping.

    I would love to say that every single watch I owned was a cherished purchase that I'll wear for the rest of my life. Fact is though that some of them were mistakes - outlived its usefulness as my tastes evolved, looked better on paper than in real life, or became redundant as I moved up the food chain to more expensive pieces. Regardless of reason, it's better to get 50-60% returned value (and as mentioned previously, that's only if bought at or above MSRP) to put towards a watch that'll get worn rather than have 100% of the value gathering dust in a sock drawer
    Last edited by LosTresGatos; January 2nd, 2013 at 07:14.
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    Consolidation complete! Down from 17 watches to 2 grails + 3 support
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  7. #6
    Member Citizen V's Avatar
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    Re: Flippin' insanity! Or how to lose!

    Quote Originally Posted by ~tc~ View Post
    If you flip a new watch, you will lose practically every time (unless you get a screaming deal as described above) If you buy used, the previous owner already took the 50% hit, so you can stand to do OK
    Yeah, most every watch I've bought is used so I take little loss on flipping (sometimes only shipping). I've also actually made money from flipping watches from and on eBay. This was all in the 'affordables' range though.

  8. #7
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    Re: Flippin' insanity! Or how to lose!

    I've sold two watches and have made money on both of them. That said, I have only bought used watches and did a lot of research so I know I got good deals on them.

  9. #8
    Member kylemacca01's Avatar
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    Re: Flippin' insanity! Or how to lose!

    As people have said, to flip and make money you have to buy used and get a good price. But i think most people dont flip to make money, they flip because they get bored of the watch they own currently and want something new and are willing to take a small loss to get it.

  10. #9
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    Re: Flippin' insanity! Or how to lose!

    I have flipped 56 watches in two years :D
    In the first few months I took some losses but with affordables that I bought new.

    Since then I have only taken a significant losses, one was an Omega SMP which looking at it now I overpaid for.

    The biggest cost for the flipping is shipping and paypal fees and foreign exchange (USD to CAD)
    Even if I get what I paid for a watch I usually only net about 90%.

    Don't see myself doing as much flipping this year though, since I've really found what I like I plan on buying and holding.
    Current collection: Tudor BB 36 |MKII Hawkinge| Seiko SARB017 | Seiko SARB035 | Seiko SBDC053| Seiko SBDC059|Seiko SBDC061| Stowa Antea KS
    wishlist: ​Seiko SBDC065, Sinn EZM 3f, Sinn 856 UTC, Sinn 356 Flieger II, Damasko DC56, Tudor Black Bay Fifty-eight, Sinn 556 i Blue

  11. #10
    Member 3th3r's Avatar
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    Re: Flippin' insanity! Or how to lose!

    Let's say you buy a watch for $100
    If you keep it in a drawer and never sell it, you have 0% return.
    If you sell it for $50, you have 50% return.
    Which would you rather have have, 0%, or 50% return?
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