Aiyoh ! Buy so low, sell so high !

[1ATM]

Not getting much wrist time, a friend of mine went to this 2nd hand watch dealer shop in CBD and sold his Davosa $700. The next thing you know - this dealer posted in his website to sell it at a price of $1350. Within one week the watch was picked up from the shelves in his shop (sold !).

Almost 100% mark up ! Shucks, to say he felt cheated is an understatement.

This watch is really like new....cos he tried to sell it to me first

According to my friend, the dealer's excuse for taking in this watch at $700 (which my friend paid $2200 only 6 months ago) ? Oh..this brand not desirable cannot sell lah, cheap movement (ETA 7750), cheap casing etc. Next thing you know, he made 100% profit from it

Not trying to flame anyone or tarnish anyone's reputation here, as I can understand it's a willing seller - willing buyer system. Just want to warn new comers that watch flipping is sometimes a cut throat business. Be careful or your throat will be slit

[feilong108]

well...the pre-owned shops do have to make money...anyway...they have to pay rent,salaries and etc...hahaha...i tink this is the case of willing buyer and willing seller...simple mah...btw hor..me no dealer eh..juz a poor man explaination...IMO...

[1ATM]

Why ?

Hehe moral of the story......know the market or your throat will be slit open. He lazy lah...dun wan to post here in Buy & Sell (imho the best in town ) Sure can fetch better price one

[pingpong]

nothing new la.. we see this everyday everywhere not only in watches...

your lost is always somebody's gain.. keke.. just a matter of big or small lost or gain lor...

Not getting much wrist time, a friend of mine went to this 2nd hand watch dealer shop in CBD and sold his Davosa $700. The next thing you know - this dealer posted in his website to sell it at a price of $1350. Within one week the watch was picked up from the shelves in his shop (sold !).

Almost 100% mark up ! Shucks, to say he felt cheated is an understatement.

This watch is really like new....cos he tried to sell it to me first

According to my friend, the dealer's excuse for taking in this watch at $700 (which my friend paid $2200 only 6 months ago) ? Oh..this brand not desirable cannot sell lah, cheap movement (ETA 7750), cheap casing etc. Next thing you know, he made 100% profit from it

Not trying to flame anyone or tarnish anyone's reputation here, as I can understand it's a willing seller - willing buyer system. Just want to warn new comers that watch flipping is sometimes a cut throat business. Be careful or your throat will be slit

[feilong108]

haha..yeah...i agreed...better to sell here due to ppl in here are watch siao and they know the quality of the watches...ur watch be off to a better new home than to dealers that simply wan the profit margin than admiring the watches....

[wedgehammer]

what's the "flip" term used in watch circles? does it have the same meaning as this wikipedia entry:

Flipping is a term, used primarily in the United States, which refers to the practice of buying an asset and quickly reselling ("flipping") it for profit. Though flipping can apply to any asset, the term is most often applied to real estate and initial public offerings.

[armchaireconomist]

Well... C'est la vie

That's what the Singapore economy is based on anyway... "Middleman".
Take it as lesson learnt...

[seiko.citizen]

soon the middleman will be cut out leaving you to fend for yourself

[feilong108]

hahaha....true....

[Darkangel]

Pls la...dun complain....

1 mistake he made was to check out the price the dealer sold. It will just make your heart feel worse. I will say...there's nothing wrong with the mark up,they have to make a living...if they can mark up at 500% and someone buys...that's their gain...try to take it easy.

[feilong108]

well...i suppose my way of selling watches is in the forum..at least i know that my pieces are going to good homes...hahaha....new owners know how to handle them properly..aniwae juz my own 2cents of opinions...

[1ATM]

Pls la...dun complain....

1 mistake he made was to check out the price the dealer sold. It will just make your heart feel worse. I will say...there's nothing wrong with the mark up,they have to make a living...if they can mark up at 500% and someone buys...that's their gain...try to take it easy.

The point is, why degrade the watch so as to make you accept $700 and the minute your back turned, resell it at a 100% profit ? Quick and easy, Shrewd businessman or ignorant customer - you tell me.

Anyway from the looks of it, they are making quite a good living Well, no point crying over slit throats...I mean splilled milk

[Darkangel]

The point is, why degrade the watch so as to make you accept $700 and the minute your back turned, resell it at a 100% profit ? Quick and easy, Shrewd businessman or ignorant customer - you tell me.

Anyway from the looks of it, they are making quite a good living Well, no point crying over slit throats...I mean splilled milk

If the businessman is not shrewd and know how to make profits...I dunno how is he gonna survive...it's your choice to sell to him and his choice to sell at whatever price he wants.

I think we should not go too far later got war already....hahaha

actually hor u post here not that bad...u post at HWZ EDMW...hahaha u will see 10 pages of posts in an hr which u will not like. If u dun believe can try

[seiko.citizen]

we live in commercial world. everyone make money by different means. up to you to decide.

[Destro22BT]

Honestly, I think its a case of 'live and learn' for your mate.
As many bros here pointed out, shops have to make a living. And what the owner says is true to a certain extent, it's not a Rolex, it's not Omega, not Tag Heuer, not many ppl will rush for a brand like Davosa. And just like going to a pre-owned car salesman to sell your exotic sports car... he'll say your car difficult to sell, too exotic, maintenance expensive...blah blah blah... next moment, he'll put up your car for sale at a high price. Same concept. No one's gonna say 'wah, this watch bao jiak one! I can help u sell it close to the price of what you bought, u gimme $50 commision can already!' Furthermore, he posted it at $1.35k... no one knows for sure if the buyer bought it at $1.35k or did he negotiate for a lower price and got it at $1k thereabouts right? So... bottomline... you can advise your friend that next time, if he doesn't want to feel that he's a carrot head... get a PRE-OWNED Rolex Sports Series... at least if he wanna sell, not so heart pain.