Flipping - how much do you loose?

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rousp
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Flipping - how much do you loose?

Post by rousp » Fri Dec 11, 2009 9:58 am

Hi again! Thanks to El presidente that pointet me in your direction. :thumbsup:
I'm sure my heart stopped beating for a while when I finally decided to take a break from my studying towards an exam and log onto y3. Only to realize that y3 was gone, wiped from the face of the earth... :crybaby:

But hey, your all here, so my world didn't end! :gift: :bananastoner:

Back to topic.

As I said I'm a student. And with that I don't have much cash laying around waiting to transform, magically, into a watch. That, combined with an ongoing case (more like a saga) with Swatch norway, has reduced my watch interest to an all time low..

So now I'm looking down two different routes. (Three if you count stop collecting, but that isn't an option)

Either I start looking into more affordable watches like Seiko and stuff..
Or I continue drooling on swiss watches, buy one, flip it, get a new etc. Constantly getting new watches as I sell the previous. That way keeping the cash bound up constant.

And now, my question, it's a brutal one.

How much cash does you flippers loose on each watch you flip?

I know that you rather don't think on that, but for me it is essential... I simply can't afford to flip watches if I am to loose cash on each and every one...

-Rousp
-Kristian

Savings - feel better on the wrist than in the bank.

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matt.wu
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Re: Flipping - how much do you loose?

Post by matt.wu » Fri Dec 11, 2009 10:09 am

If you're prudent about the initial purchase, meaning that you take resale value into consideration before purchasing a watch, you can avoid losing too much money on the flip. Additionally, you've got to be a bit more careful about how you wear the watch. If you beat it up, you're going to get hosed on resale.

Some frown on this mentality, but it's a good way for those of us on a somewhat limited budget to be able to enjoy watches we would otherwise find out of reach. If I kept every watch I purchased, not only would I have too many watches, but I'd be broke.

That said, it's not for everyone. It's somewhat tedious and the payment and shipping process can be confusing when you're not used to it.
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Re: Flipping - how much do you loose?

Post by KWIATEK » Fri Dec 11, 2009 10:26 am

I think I'm in the minority here, but I say go with the more affordables. I'm not overly anal with my analog watches and have never tested one to see how well its keeping time. All I want is for a quartz to hit all or most tick marks and an auto to keep ticking.... which never happens :banghead: I solved that and got me an 8 winder box.
I had been thinking of getting a Breitling and gave myself a $3k budget. The one I wanted at the time was on sale at the AD and take home price with tax would've left me enough to have a fast lunch. But here's the thing.. I am very rough on my watches and I don't go anywhere besides work 99% of the time, so the only place to wear it would've been work. I was told to hold off and buy one used. Of course I was thinking, "Whatever.. :rolleyes:, " because, well, I REALLY wanted that watch. Its a true GMT and one I liked, which I don't like many GMT's and have been wanting one for quite some time. I thought about it pretty hard for a handful of days and decided not to get it. What I did instead was spent the money on a couple handful of watches I'd been interested in (and a few that I got just because I needed some color). Sure, a higher end watch will have a better sweeping hand (smoother), but I really prefer the tick-tick of a quartz anyway. No matter how smooth the second hand is, its still gonna drive me crazy a little. Go figure that I lean towards auto every time I look at something :shrug:
I know most are into having higher-end pieces, but not me. And its not that I couldn't have a few if I flipped my collection. But that just isn't where my interest lies. With my new buying spree, I am now going to be trying quite a few Seikos (Atlas, Mile Marker (and its a GMT!!!!), Aviator.. and a few others), a few Marathons and a couple Luminox. I'd really like to keep the Citizen I bought as a gift, but I'm afraid I just wouldn't have time for it :mrgreen:
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Re: Flipping - how much do you loose?

Post by sinner » Fri Dec 11, 2009 10:32 am

I never intentionally buy anything thinking that at some point I'll get rid of it. However, if you are planning on this path, I agree with what Matt says. Remember, too, that if you sell a watch for what you paid for it, you'll end up losing at least $20, in most cases (assuming you'll absorb paypal fees and pay for shipping, which I do). In the past 18 months, I've probably flipped about 30 watches. The most I've "made" on a watch was about $40. The most I've lost, about $500.
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Re: Flipping - how much do you loose?

Post by Seth » Fri Dec 11, 2009 10:40 am

I'm not a hardcore flipper. I owned an SMP for almost 10 years and acquired a few other watches around it... til I got the bug. Since then, I've bought nothing new and about a dozen used watches. I have only lost money when I got impatient or just didn't care and wanted to be rid of something.

Like yourself, money doesn't grow on trees for me, and I spend the same money over and over with a lot of my hobbies. Want something new, sell something old.

With that said, I would rather have ONE Kobold than 10 Seikos.

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Re: Flipping - how much do you loose?

Post by ikkoku » Fri Dec 11, 2009 10:50 am

buy to try out new/different watches... and flip when you research and find something else you want to try. It's the only way you can try out a lot of watches with a small budget. After a while you will know what kind of watch you'd buy for keepers.

"Borrowing" a watch for a few weeks/months for the cost of paypal and shipping fees is not bad. It is an addictive practice tho so be warned.

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Re: Flipping - how much do you loose?

Post by matt.wu » Fri Dec 11, 2009 10:56 am

ikkoku wrote:buy to try out new/different watches... and flip when you research and find something else you want to try. It's the only way you can try out a lot of watches with a small budget. After a while you will know what kind of watch you'd buy for keepers.

"Borrowing" a watch for a few weeks/months for the cost of paypal and shipping fees is not bad. It is an addictive practice tho so be warned.
Yeah, I didn't mention this, but buying/flipping has helped me to identify what I really like in watches. Additionally, it's given me a wide variety of experience with different brands by which I can make judgements/comparisons on quality/value of new arrivals. There are risks for sure, as I'm finding out now, but I knew that going into the whole thing.


Seth wrote:With that said, I would rather have ONE Kobold than 10 Seikos
You know which side of this fence I'm on... :cheers: :lol:

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rousp
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Re: Flipping - how much do you loose?

Post by rousp » Fri Dec 11, 2009 10:58 am

Quartz is out of the picture for me. I can't stand the jumping from one marker to another.. Time doesn't jump, it flows, like an proper mechanical watch..

So I would have to find affordable mechanical watches. Vintage, asian, etc.

My main problem is that I live in Norway, I would have to pay 25% VAT on every purchase I do from out of Norway. And that limits my possibilities for flipping. Because I could only get my cash back if I where to sell the watch in Norway... And the watch marked here isn't too large....
-Kristian

Savings - feel better on the wrist than in the bank.

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Re: Flipping - how much do you loose?

Post by sinner » Fri Dec 11, 2009 11:21 am

Seth wrote:I would rather have ONE Kobold than 10 Seikos.
Couldn't agree more.
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Re: Flipping - how much do you loose?

Post by DMB » Fri Dec 11, 2009 2:26 pm

I don't sell a lot of watches, but have come out ok on the ones I did. I'd prefer to trade.
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Re: Flipping - how much do you loose?

Post by watch-man7777 » Fri Dec 11, 2009 6:16 pm

To be honest, I've never lost money on a watch I've sold. I try to buy at such a good price that I can wear it for x amount of time and then resell for what I paid or just a bit more. I don't set out initially to make money on each watch I buy, but it just seems to happen that way. I don't mind it though :fro:

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Re: Flipping - how much do you loose?

Post by ezcheese » Fri Dec 11, 2009 6:18 pm

I have lost my ass on all but one. :crybaby:
¯\_(ツ)_/¯

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Re: Flipping - how much do you loose?

Post by ElChingon7 » Sat Dec 12, 2009 4:50 am

I'm not even going to answer this one. Well ok, a little...

I can tell you on one piece alone (a 5k watch) I lost 2k. That's just sickening. I knew I was in trouble when Rob at Toppers who I bought the watch from - wasn't interested in taking it back on a trade. :cussing: :cussing:

Like most have said - think about selling it before you even buy it, is it and easy sell? Pay attention to the sales forums and see which brands sell quickly, etc.

An example, an Omega PO - can pretty much sell at any point. A UTS...well, like fire to the devil.

AS has already been mentioned, Papyal fees and shipping also add up quickly.

This isn't a hobby to make money in, unless you stocked up on Panerais about 5-10 years ago.
WTF

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aikiman44
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Re: Flipping - how much do you loose?

Post by aikiman44 » Sat Dec 12, 2009 5:17 am

Have to agree with everyone here. You get to a point where you ask yourself, if I buy this, will I eventually flip it? If the answer's yes, try not to buy it.
But sometimes the honeymoon's over and something else comes along 'that you have to have'.
In many cases, buying new is a guaranteed loss when you sell. So be careful.

And has been said, turn little watches into bigger watches.
And don't hold onto the easily obtainable if you can grab something very difficult to obtain.
Last edited by aikiman44 on Sat Dec 12, 2009 6:46 am, edited 1 time in total.
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Re: Flipping - how much do you loose?

Post by Tragic » Sat Dec 12, 2009 6:23 am

People rarely buy a watch thinking they'll flip it but inevitably the glow wears off and you want something new.
I've lost my ass on most everything I've sold with a few exceptions.
Buying used is best, someone else is losing his/her ass in that case.
No one's mentioned that you need to stay away from offbeat brands.
You just LOVE that new Raymond Weil, Revue Thommen, etc.?
You'll get hurt BAD if you ever sell it.

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Re: Flipping - how much do you loose?

Post by aikiman44 » Sat Dec 12, 2009 6:45 am

True, no one buys a watch if they KNOW they'll flip it. But by asking yourself this question you may notice patterns in your buying and selling. For instance, based upon my history, I know I'll probably flip an orange or yellow dial. There's also a good probability I'll flip a boutique brand if something more expensive comes along that I 'have to have'. So I thought pretty hard before picking up my Zinex Heliox and Lum-Tec M17 (I flipped my Trimix to pay for something else, so the decision to buy the Heliox was not made easily).

And truer words were never written (among our particular consumer tribe), think hard before buying new.
"We'd better synchronize our watches."

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Re: Flipping - how much do you loose?

Post by ezcheese » Sat Dec 12, 2009 1:03 pm

Tragic wrote:People rarely buy a watch thinking they'll flip it but inevitably the glow wears off and you want something new.
I've lost my ass on most everything I've sold with a few exceptions.
Buying used is best, someone else is losing his/her ass in that case.
No one's mentioned that you need to stay away from offbeat brands.
You just LOVE that new Raymond Weil, Revue Thommen, etc.?
You'll get hurt BAD if you ever sell it.
Boy ain't that the truth! And I have a penchant to buy those brands and then sell them later. :doh: I traded my Laco squad diver PLUS gave up $400 for a Revue Thommen cricket nautical. Ended up selling the RT for like $600. :banghead:

I want to sell my Zenith, but again, it's an offbeat brand. I will lose out big time on that one too. :scream:
¯\_(ツ)_/¯

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Re: Flipping - how much do you loose?

Post by polaco23 » Sat Dec 12, 2009 3:09 pm

Im a big flipper, i know i have 80% of my collection i can flip at any given time. I only have a few keepers. i buy used, and trade very often. Yes you lose money, but its cheaper than buying and buying, and i dont end up with 40 watches i never ever wear, for the sake of losing money. Id rather have a $5 bill and be able to spend it, than a $20 im never allowed to spend, but i can have it sit in my cabinet to look at. :rolleyes:

none of us are in it for the money, you dont really make any unless you find rare watches for dirt cheap, then sell. Im constantly evolving my collection, and its so much fun knowing i got something new coming in the next month or whatever. Its worth the shipping and handeling fees, although those do hurt sometimes. :oops:

buy a nice watch, trade it for another if you want, just make sure you have fun! :dance:
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Re: Flipping - how much do you loose?

Post by dohmer » Sun Dec 13, 2009 11:27 am

I would like to say that I'm pretty much even. Bought from US, sold in Sweden.

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Re: Flipping - how much do you loose?

Post by Jamie » Sun Dec 13, 2009 12:07 pm

I have made money one and once only!! :banghead:
Worst one I have done was buy a Nav World from and AD a couple of years ago and burnt 2.5K on the resale. :scream:

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Re: Flipping - how much do you loose?

Post by SCM64 » Sun Dec 13, 2009 5:30 pm

Don't forget about the German watches out there. Just saying. :whistle:

In the used market, some watches can be bought and sold at pretty consistent prices, so you minimize your risk.
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Re: Flipping - how much do you loose?

Post by rousp » Wed Dec 16, 2009 10:47 am

I think that just posting here on this forum cured my watch blues.

My longines misery is getting closer to an solution involving a new guarantee card.

And I bought a new watch today!

It's mechanical, and it's swiss. Details later! :thumbsup:
-Kristian

Savings - feel better on the wrist than in the bank.

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Re: Flipping - how much do you loose?

Post by mvyadam » Wed Dec 16, 2009 12:22 pm

Over the last 5 years of being on these forums,(mostly WUS) I've lost count of how many i've bought and flipped, it's gotta be over 100, with most being $500-$2500 priced watches, and I certainly don't keep track of what I've "lost",-sometimes I'm sure it's $100's, other times I might break even. Like a lot here, my tastes in brands/styles come and go, and my priorities change. I've had a number of Doxas, Sinns, Omegas, Seikos, Oris's etc and a bunch of the newer micro-brands, but I can never seem to find a "keeper". I've done the same with guitar amps over the last 15 years, going through at least 10 of them. That's my personality and I'm ok with admitting it :crybaby:
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Re: Flipping - how much do you loose?

Post by matt.wu » Wed Dec 16, 2009 2:20 pm

rousp wrote:I think that just posting here on this forum cured my watch blues.

My longines misery is getting closer to an solution involving a new guarantee card.

And I bought a new watch today!

It's mechanical, and it's swiss. Details later! :thumbsup:
You certainly will not be losing nearly any money on your most recent purchase even if you decide to flip it. :thumbsup:
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Re: Flipping - how much do you loose?

Post by ikkoku » Wed Dec 16, 2009 5:12 pm

matt.wu wrote:
rousp wrote:I think that just posting here on this forum cured my watch blues.

My longines misery is getting closer to an solution involving a new guarantee card.

And I bought a new watch today!

It's mechanical, and it's swiss. Details later! :thumbsup:
You certainly will not be losing nearly any money on your most recent purchase even if you decide to flip it. :thumbsup:
That's for sure... I was actually thinking about buying that one for flipping :lol:

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