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No, it's not Rolex warranty papers :)
It's my old Breitling fying fish that I sold to Mark Worthingtons nearly two years ago.
Look at this on eBay http://www.ebay.co.uk/itm/142445655809
Two years this coming April to be exact, they haven't dropped the eBay price in all that time.
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I don’t understand that. It is just money tied up not making anything for them. If they had reduced to the price and sold it and put that money towards another piece, they could have made their target profit by now.
Try making them an offer for it ?
They probably make their money turning over the Rolex quickly so just leave the others to hang until they get a bite.
What did they give you for it
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Not sure if it's right or not to say publicly so will PM you.Quote:
Originally Posted by mk1974
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Personally I'd say it's not ok to say, publicly or otherwise. Unless that is you're happy for them to give out the information they have about you from the deal.Quote:
Originally Posted by Matt68
I can't see the problem with letting a forum member know via a PM personally, but having said that my head isn't playing ball at the moment having a lurgy from hell lol.Quote:
Originally Posted by miff
Hence my previous comment.
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I would assume it is pretty much what Ivan has stated. They seem happy to keep the pieces in stock without altering the price downwards and just hope someone comes along.Quote:
Originally Posted by Ivan Drago
The money they make from their Rolex turnover probably allows them to sit happily with that business model. They must have some excellent connections as I have not seen another dealer who receives into stock so many brand new unworn Rolex models.
No one seems to complain about the numerous mentions of “watchfinder have offered me £xxxxx”Quote:
Originally Posted by miff
Still makes no sense to me holding onto stock for so long. I have only looked at their Breitlings, but they have pages and pages of them. If they are holding onto all of those at unrealistic prices, that is a huge amount of capital not working for them.Quote:
Originally Posted by Flasher
Yes, they've always moved little on prices in my experience.Quote:
Originally Posted by Flasher
This is the way i see it.Quote:
Originally Posted by mtagrant
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The reason is the very low rate of return on money. Put £1000 in the bank, three years later you might have an extra £100. Minus inflation. But put, say, a Breitling on sale with a 30% mark up. If that sells after three years at £1000, you made £300.
That’s why dealers with decent cash flow don’t mind waiting. You still get a good return. The Rolex sales will keep you going in the meantime.
Yes, what I was going to post. Same with discounts obtained or cars being sold to Webuyanycar etc.Quote:
Originally Posted by mtagrant
Anyway, the watch is probably due a service now!
I do agree with comments regards the retaining of stock at what appears to unrealistic pricing, not just an issue with Worthingtons but many dealers have levels of stock which never seem to shift.Quote:
Originally Posted by Matt68
Blowers have more Panerais than the ADs but very few buyers are willing to pay their asking prices for a brand that has its best days behind them. Some of the pricing at Watchfinder is laughable but they do have the occasional flash sale to bring prices to were they should be. It appears that most sellers are taking the strong Rolex market and interpreting that as a reason to inflate all brands value.
As is always mentioned here at TZ, the buyers dictate a watches value not the seller and that is why so much stock is on the shelf.
People generally discuss the price they paid and sold items for.Quote:
Originally Posted by miff
If you look at completed ebay listings you can see all the sold prices.
We soon won’t have anything to talk about
Maybe ADs keeping cards should be confidential too?Quote:
Originally Posted by Rodder
How much did they give you for it ?
You don’t owe them your silence Matt.
I’m not interested in buying it but if anyone was it would be good to know what it owes them,will help if you wanted to make an offer,at 3k I think it would appeal to a few
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That suggests that they would put their money in the bank. Alternatively as a second hand watch dealer, they could go and buy more stock and make their profit through their core business. Seems lazy to me.Quote:
Originally Posted by paskinner
I’m quoting from direct knowledge of the thinking of at least one dealer. He quite deliberately stores away stock; and he seems to do very well indeed. It’s a perfectly sound strategy, which is why the dealers quoted on this thread all do it.Quote:
Originally Posted by mtagrant
Remember, these are the survivors in a tough business.
However, the key is access to cash flow; without that, dealers have to sell quickly to stay liquid. That can be less a sign of success than weakness; an under-capitalised business.
I get that having to discount is not a positive sign, but sitting on a watch for nearly 2 years, and it being a watch that is not necessarily going to rise significantly in value (ie not a sports Rolex), doesn’t seem to make the most of the capital invested in it. He also needs to warrant the watch and having been sat for so long will increase the chances of a claimQuote:
Originally Posted by paskinner
Yes could well be due a service, although I purchased it new in 2015 if memory serves me correct it was manufactured in 2011.Quote:
Originally Posted by Kingstepper
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Still there, still the same price, bizarre [emoji848]
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They wanted to celebrate its birthday.
If the margin is high enough they can afford for it to sit there for a long time, thread is a waste of time if the OP doesn't say what he sold it to them for.
They might be able to afford to but If bought low, money effectively already made and better off getting it sold.Quote:
Originally Posted by adrianw
£2500Quote:
Originally Posted by adrianw
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My thoughts, it obviously isn't gonna sell for their asking price after three years have gone by, you'd think they would have reduced the price by now surely? [emoji848]Quote:
Originally Posted by Kingstepper
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so nearly 40% margin, so provided they aren't strapped for cash they can afford to have it sit thereQuote:
Originally Posted by Matt68
Criky where are you banking?Quote:
Originally Posted by paskinner
For how long?Quote:
Originally Posted by adrianw
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With the best will in the world I really don’t know why you are so bothered about a watch you sold nearly three years ago - unless you were wanting to buy it back?
What the dealer does or doesn’t do with it in the days, weeks, months, or years after he took it from you is entirely up to him - unless you sold it with a restrictive covenant.
It seems to be a successful business so I am sure there is reason behind whatever he is or isn’t doing with your old watch!
Some people are best avoided in the pub .
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Well you simply dont get the meaning of the post then, I was just curious, where did bothered come in to it lolQuote:
Originally Posted by vortgern
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I take it this was meant for another thread?Sent from my SM-A202F using TZ-UK mobile appQuote:
Originally Posted by Kitz
My mistake then! But that’s a lot of curiosity after nearly three years! In answer to your question I guess they can afford to sit on it until they make the markup they are looking for.Quote:
Originally Posted by Matt68
I have the item "watched" on Ebay and pops up every now and then, you dont have to worry I'm okay lolQuote:
Originally Posted by vortgern
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Don’t think it was.Quote:
Originally Posted by Matt68
I'd say natural curiosity about a strange situation.Quote:
Originally Posted by vortgern
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Doesn’t matter what it cost. What they have is an asset worth x earning nothing for y years.Quote:
Originally Posted by adrianw
I think its a good question/discussion about how dealers operate. I’ve no idea why anyone would flame the OP for either posting up what he sold it for or asking the question!
I had the same thoughts when I got a yearly service on my motorbike and my old one was still out on their forecourt. I don't think the OP is silly or alone when wondering what's the end game here for the dealer.
I have a bunch of Pearlmasters for sale. One may have been with me for quite some time, but if I reduce a single watch it risks undermining the pricing structure for all. It's a matter of confidence in your prices, low interest rates and the luxury of not having cash-flow problems.
Profit margin is very precious in retail and should not be given up lightly (though the particular retailer in question seems to work with quite a wide one).
Admittedly the position with any Rolex lingering in stock has for many been assisted by the rising tide of prevailing prices, which meant that even weaker pieces one day looked reasonable.
Quite, "Rolex - What's their game?" would have been ok.Quote:
Originally Posted by Christian
Another two years gone by and still there, still the same price.
https://www.ebay.co.uk/itm/164337789487
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I can remember when cash converters used to do decent brands they would have watches sitting in their windows for months or years and way more than you would pay at a decent jeweller and wouldn’t knock a penny off
Another thing to consider is that my old flying fish will be due it's first mechanical service now, despite being sat at Worthingtons for the past four years, I know they sent it back to Breitling for it's firs two year maintenance check, but that was free of charge as far as I remember.Quote:
Originally Posted by Michael 38
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