Reply With QuoteThat could be interesting for warranty etc.
Will they be a chrono 24 competitor or just a shop window like ebay?
WF will be changing its business model and instead of selling just its own stock it will be signing up a lot of independent greys to advertise and sell on the WF platform so it is highly likely that most watches sold on WF aren't stock watches of WF. This is at least in part due to the fact they got their fingers burned when holding stock and seeing secondary market prices plummet
That could be interesting for warranty etc.
Will they be a chrono 24 competitor or just a shop window like ebay?
Has the secondary market prices plummeted or are they just not shifting the volume they used to? Only say that because on SC and on their site, I haven't seen a huge drop in asking prices?
Zero sympathy if they have indeed been burnt by market forces - serves them right.
Smacks of 'cake and eat it' etc.
Personally I would not buy anything from them, ever.
When you look long into an abyss, the abyss looks long into you.........
What’s the rationale there? I’ve bought from them before and service was excellent. I’m the process of doing a part exchange and got a decent price for my watch and a decent price on the new one - if you don’t like the prices, you don’t buyOriginally Posted by Chris_in_the_UK
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I dislike their business model a lot. The whole 'price to change' is a distraction.
We are often sanitised on here to what the value actually is - there has been a shift over the last 10 years towards residuals and resulting price hikes. WF have played a part in this.
Last edited by Chris_in_the_UK; 9th March 2023 at 22:56.
When you look long into an abyss, the abyss looks long into you.........
I've bought and sold with no complaints, but have been shocked by the purchase valuations of non blue chip brands compared to the sale prices.
I'd be happy the greys get a dollop of a buyers market
For the part ex I am doing with them, they confirmed they are only taking watches if they are part-ex and not at present buying in watches
The other thing in my experience is that they will negotiate on the purchase, usually to a reasonable degree
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Wasn't this announced in December?
Other richemont sites already list other grey Sellers. WF needs this to get access to the niche end of the market.
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Yes it was. I think it also mentioned they would be doing consignment on watches.
They want to put grey stock alongside their own as part of a WF marketplace and label it as a trusted partner etc. They handle all enquiries as if it's their stock and will take part exes if the dealers don't want them.
The grey ships to WF, WF checks/authenticates and sends the watch on to the customer, then take a % cut from the dealer + monthly fee.
WF warranty the watch.
It's basically a ch24 model.
That is quite a significant change to the business model ... will be interesting to see how it pans out ...
It will be interesting to see what WF cut will be but guess it will be the trusted partner who will have to factor it in to their margin.
Let's just say that theres no financial incentive to swap Ch24 for WF.
Looks like WF have now rolled out the consignment option. Seems a little odd though they name the seller on the listing.
https://www.watchfinder.co.uk/new-ar...MTA0MTUlN0Q%3D
It’s seems on some watches there is an option to ‘make an offer’
Is this new?
Been there for as long as I have been looking on their site, albeit it that’s only been a couple of years.
I don’t have a lot of sympathy if they’ve been burnt. They’ve been a big factor in driving prices up in recent years. From a buyer’s perspective, it might serve them right a bit.
Otherwise the offer sounds like a hybrid C24. The main appeal of them to me is as a buyer of last resort. If they aren’t doing that, they’re just a bit of a non entity anymore.
No sympathy for them , they basically were too greedy and got caught out. They didn’t see the dip. Even when most people could see the unsustainably absurd increases in values of steel watches, Daytona at £50k any one?
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I used to get an email from them? Maybe every one or two weeks, urging me to buy a watch from them. Lately though, it seems I'm getting e-mails from them , every couple of days! So something is going on !
Ive dealt with them a few times. Sometimes they offer ok trade in prices, other times they offer really low prices! The only thing Id say to anybody dealing with them? Tell them you have a bigger wrist than you do! As they offer to size the watch for you, then keep the spare links and sell them on their e-bay shop!
Plummet ?
A few brands like TAG, Omega etc have all been going up and up on the secondary market.
Most greys avoid AP and Patek for this reason, so that leaves Rolex which again did not plummet and now on the up. Just sold one today which I got offered more now than a few weeks back. And my Daytona has gone up at least another £5k
My team have pointed something out to me.
You can see watches listed on Watchfinder that they are selling on behalf of Trilogy Jewellers, for example.
One may then find what appear to be the same watches listed on the Trilogy Jewellers website but for much less.
That's not going to fly, surely ?
It's a great way to drive traffic to your independent business. I expect this is a trail and once they've got enough 'suppliers' on board they'll stop publishing the sellers details, especially if WF and send the item out and are responsible for after sales.
I have twice contacted dealers directly about a watch they had on C24 and they readily gave a reduced price. The same will happen with WF.
The prices are very impressive........ £5495 for a pre-owned Green Seamaster on rubber strap at Watchfinder, when you can get a brand new one direct from Omega on-line at £5,200 or a similar pre-owned from Subdial for £4,600.
I think the only rational explanation to this pricing is that this is aimed at someone having the ability to part-exchange a watch with WF. I can't think of any other reason you would set your price higher than the original manufacturer if it is freely available.
They seem to try and pivot on the 'cost to change' stance, strong offer on the P/X and a tempting balance to pay.
When you look long into an abyss, the abyss looks long into you.........
Agreed on the PX comment.
As an aside that Green dial Seamaster has only very recently become available to buy on line direct from Omega. Before that it was a wait piece and definitely not "freely" available............but maybe WF hope that some customers don't look or know this perhaps?
Yes agree, I think WF are hoping that many will assume it is still a wait piece or as suggested above, for some the price will factor in a P/X and how much people need to find to make up the difference....... it was available for about a week online direct from Omega, then was "enquire at a boutique" for a few days and now back in stock. There seem to be a few coming through secondhand at or just below RRP.......... not that I'm looking!!!
From previous experience with WF they do tend to try and leverage the less well researched buyer/the can't be bothered seller.
I mean their whole estimate banding and then offering the lowest figure with no justification speaks volumes. Takes two minutes to call them back up and say 'just send the watch back' and they offer the higher figure - I bet plenty don't though.
Last edited by NickGaters; 18th April 2023 at 15:27.
A lot of Ebay sellers tend to get customers going direct if they are known and obvious businesses . the Ebay platform is merely an advertising portal. the same will happen with this format .
Direct contact will always get you a better price as the platforms charge a 5-6% commission fee. Better to give that discount to the customer.
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