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How To Flip Watches:The Definitive Guide
You may already know that flipping watches helped many people make a lot of money.
But how can you make money from flipping watches?
To make money through flipping watches, you need to become a watch dealer, sell watches and promote watches in market place with a lot of strategies and resources.
In this guide I am going to help you overcome all these obstacles and recommend you resources for further study.
Without further ado, let’s dive in:
In this chapter, I will teach you the basic knowledges of flipping watches.
And you will understand how to flip watches and how flipping watches make money.
What is flipping?
Flipping is used to describe buying a revenue generating asset and reselling it for profit. The popular assets for flipping are including real estate, second hand house, car and product.Watches flipping is a type of product flipping and that means purchase valueable and luxury watches for reselling and make profit from it.
How to Start Flipping Watches Business?
To start your flipping watches business, you will have to know research the market demand and then become a watch dealer and learn how to promote the watches online.
First of all, you can search “watches” on Google trends and identify what watches people are searching for.
Second, you can search hastags like #watches #womenswatches #menswatches #fashionwatches on Instagram and go through the feed to find the styles that get the most amount of likes.
Third, visit the watch retail shops and watch wholesale market(Such as Guangzhou watch market) and ask them which style are popular recently and you should compare several shops to confirm you tell the truth.
Finally, search the professional watch blogs and influencers and check their post or contact them to get the lastest popular styles.
Knowing your target audience and the styles that they like, you are going to know about:
For you to become a watch dealer, there are a lot of requirements that you have to meet in order to get authorized by watch companies that you want to have a partnership with. Furthermore, you have to invest not just money but also time by following the steps below in order to have full access to the watches.
Step 1: Determine the type of watches you want to retail.
Even if you have a big capital for your business, one thing that makes you successful in watch dealership is your capacity of choosing to retail watches that are on-trend. You have to bear in mind that the more popular the watch, the higher the chance of escalated income you have to expect.
Step 2: Register your business to become an authorized dealer.
Your business also needs a license in order to get acknowledged by the government or your buyers as a legit watch dealer. It is also one of the requirements you need to comply with before you can have your partnership with the watch manufacturer.
Step 3: Contact your desired watch sources.
You have to apply as a dealer to the watch companies you have to want to have a partnership with by visiting their site or by sending them an email online. On the internet, you can just search for the keywords “watch retailer” or “watch distributor”, where you’ll surely have access to thousands of watch manufacturers and even watch auctions online.
Step 4: Reasonably priced your watches.
As much as you want to earn more, if you’re selling very expensive watches, they will never sell. Watch buyers are now careful with their expenses most especially if they are experts with regards to the market value of the watches you are selling.
Selling watches is the most important part for flipping watches. And there are strategies to sell the watches well. Here we share the 5 secrets that can help you make money by selling watches.
Here are the 5 secrets of selling watches as follows:
- Be professional with your product. “Product is the king”, equipping yourself with watches knowledge , such as knowing the features, structure, models, types of watches can help you identify which is the real and fake. You can learn and gain experience through research or learn from professional watch maker as well.
- Predict the market trends accurately. Hot sale product make the most of your profit, so learn to forcast what is hot and what’s not and analyze the current market trend and furture market trend. You can not learn this overnight, and you will have to learn it from practice.
- Establish your relationship with industry people. Relationship is the important asset in business, make friends with people in your industry such as watch manufacturer, watch supplier, watch repair owner as well as watches flippers, these are your assets in your business. When you deal with the reliable watch makers, they will often supply you the real watch as required.
- Build honest persona to your target customers. The impression you left on the mind of your target customers will determin they trust you or not at the first time. So try your best to show your expertise and share your watch knowledge to your target audience from the first time. And pay attention on each of your post on social media, it can also reveal your reliability.
- Understand your customers’ demand. Sell the product that meet your customer’s taste at a reasonable price can help you make long time profit from selling watches. Don’t make quick bucks, build your reputation and you will make more money in the long run.
After you have the strategies to sell your watches, you’ll promote it in the best market place.
You may have heard it a couple of times that the best watches are composed of style, brand, and durable features. However, there a lot of afforable watches brands available online that could make your watch business built with high potential investments. Check them out below!
Junghans is well-known for its luxury watches that are developed in German watch-making precision. Together with their historic attendance to the timepiece world, they also acknowledged modernization that brings more styles for their watches. Thus, giving you a lot of reasons why you should make an investment out of their brand.
Casio with its ever-popular G-shock collection is also one of the best buy watches in the market today. It is believed that they are the leader of the digital watch world since it was established by the year 1970. Just by hearing the brand name of Casio watches is already a guarantee that you’ll make more money out of it.
If you are familiar with Indiglo watches, then you should not miss getting Timex watches for your business! Timex which was established in 1841 is one of the most well-known watch brands with several iconic watches designs. One of which is the Indiglo backlight that is very popular and in-demand to watch buyers who are looking for better night vision features.
- Swatch Watches
With the various advertisements online and on TV, it is no joke that Swatch watches have been one of the most favorite brands of watches by the younger generation. Together with its new models and styles that fit every wild or adventurous activity people have to take on today, it continues to show swag and efficiency for the community to be Swatch connected.
It is true that it is easy to buy watches and sell them. However, how can you determine that you’re making big bucks of money out of the watches you buy? Simple. You just have to find the right access to today’s in-demand timepieces through the different sites and shops we’ve listed below!
Flipping on Chrono24
If you are a big fan of watches, you probably know by now that Chrono24 is the most legit site where you can buy watches for your business. The watches offered in Chrono24 are either brand new or pre-owned.
There are thousands of available watches that you can choose without any worries because of there buyer protection program. Thus, giving you a high profit that you can securely flip for your watch business.
Flipping on Facebook Market Place
If you have a Facebook account, it will be easy for you to browse the available watches in Facebook Market Place. The watches listed in Market Place are probably used watches or brand new watches that the seller no longer wants to wear.
You can directly contact the seller through his page or profile and ask for final prices if it can be negotiated. In this way, you can be sure to save more from the original price. Beware of scammers and report them right away if you find the negotiation suspicious.
Flipping on eBay
Just like Facebook, you also need an account to buy watches on eBay. However, this site is more reliable to purchase items because of their payment protection program that can be done through Paypal or credit card.
You can even join the auction for the available watches in order for you to profit more with your desired selling price. You also have to consider the shipping fee so that you can estimate your overall expenses and if it is worth the profit.
Rolex is the most popular watch brand that many watch collectors go for. According to Brand Z report, Rolex has an estimated brand value of $8.053 billion.
one year ago, Baronbio who is a an amateur in watch collection and he is curious about if flip “rare watches” can make easy profit. So he plan to use his new Rolex Pepsi GMT which he was still using as a test.
With his knowledge on rolex watch, he learned that Rolex purposefully restricts access to its watches to increase demand and clearly it has been working. He also got the information that if you would like to order a new rolex watch, you need to have a very good and close relationship with your AD or get on a waiting list or however you source your watches.
With this information gap, Baronbio plan to build good relationship with rolex watch dealer and also learned promote watches on Ebay and Esty. Amazingly, he sold out his own Rolex Pepsi GMT in only 3 days and he sell at the price at doubled cost.
From this deal, he find flipping watches can be a business, so he purchase new rolex watches accoding to his experience and he also promote the new watch to other flippers and internet forums. And he makes the revenue about 1 million US dollars per year now.
It is a really successful story in flipping watch business.
There are lots of forums and flipping websites out there to help you know about flipping watches business, they are a goldmine for new comers.
If you would like to join flipping watches, you can definitely learn something useful from the following website:
Flipping Watches Reddit
Watches flipping is a hot topic in the r/Flipping community. You will learn what other people think about watches flipping and share your own opinion.
I recommend you read the following threads that will help you get to know other people’s opinion on flipping watches:
#1 Watch Flipping – Is it viable?
#2 Flipping watches?
#3 Advice on flipping watches
#4 How I start selling branded watches?
Forums like Watchuseek or Rolex Forum
There is hot thread on the forum talking about “Is anyone really making money through “flipping” watches?”
You can know whether flipping watches make money or not from other people’s experience.
And you can will also know how people turn watch flipping into a business through this thread on Rolex forum.
Many professionals share their successful stories on Youtube. You can learn from Richard Fain to get experience of collecting and flipping luxury watches from his video “How I got started Collecting and Flipping Luxury Watches for BIG PROFIT!”
It Turns to You Now
From this guide, I hope you have learned how to flip watches to make profit.
Which part give you the most helpful support?
Is it the watch flipping basics ? Or how to become a watch dealer? Or how to sell watches? Or the resource we recommend?
Let me know in the comment below.