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Thread: Dealer holding on?

  1. #1
    Master
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    Dealer holding on?

    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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  2. #2
    Master
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    I donít 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.

  3. #3
    Craftsman
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    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.

  4. #4
    What did they give you for it


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  5. #5
    Master
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    Quote Originally Posted by mk1974 View Post
    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.

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  6. #6
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    Quote Originally Posted by Matt68 View Post
    Not sure if it's right or not to say publicly so will PM you.

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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.

  7. #7
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    Quote Originally Posted by miff View Post
    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.
    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.

    Hence my previous comment.

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  8. #8
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    Worthington

    Quote Originally Posted by Ivan Drago View Post
    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.
    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.

    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.

  9. #9
    Master
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    Quote Originally Posted by miff View Post
    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.
    No one seems to complain about the numerous mentions of ďwatchfinder have offered me £xxxxxĒ

    Quote Originally Posted by Flasher View Post
    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.

    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.
    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.

  10. #10
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    Quote Originally Posted by Flasher View Post
    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.
    Yes, they've always moved little on prices in my experience.

  11. #11
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    Quote Originally Posted by mtagrant View Post
    Ē



    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.
    This is the way i see it.


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  12. #12
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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.
    Last edited by paskinner; 5th January 2019 at 10:16.

  13. #13
    Quote Originally Posted by mtagrant View Post
    No one seems to complain about the numerous mentions of ďwatchfinder have offered me £xxxxxĒ
    Yes, what I was going to post. Same with discounts obtained or cars being sold to Webuyanycar etc.

    Anyway, the watch is probably due a service now!

  14. #14
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    Dealers

    Quote Originally Posted by Matt68 View Post
    This is the way i see it.


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    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.

    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.

  15. #15
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    Quote Originally Posted by miff View Post
    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.
    People generally discuss the price they paid and sold items for.

    If you look at completed ebay listings you can see all the sold prices.

    We soon wonít have anything to talk about

  16. #16
    Quote Originally Posted by Rodder View Post
    People generally discuss the price they paid and sold items for.

    If you look at completed ebay listings you can see all the sold prices.

    We soon wonít have anything to talk about
    Maybe ADs keeping cards should be confidential too?

  17. #17
    Master -Ally-'s Avatar
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    How much did they give you for it ?

    You donít owe them your silence Matt.

  18. #18
    Iím 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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  19. #19
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    Quote Originally Posted by paskinner View Post
    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.
    Thatís why dealers with decent cash flow donít mind waiting. You still get a good return. The Rolex sales will keep you going in the meantime.
    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.

  20. #20
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    Quote Originally Posted by mtagrant View Post
    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.
    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.
    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.
    Last edited by paskinner; 5th January 2019 at 14:31.

  21. #21
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    Quote Originally Posted by paskinner View Post
    Iím 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. Itís a perfectly sound strategy, which is why the dealers quoted on this thread all do it.
    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), doesnít 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 claim

  22. #22
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    Quote Originally Posted by Kingstepper View Post
    Yes, what I was going to post. Same with discounts obtained or cars being sold to Webuyanycar etc.

    Anyway, the watch is probably due a service now!
    Yes could well be due a service, although I purchased it new in 2015 if memory serves me correct it was manufactured in 2011.

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  23. #23
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    Still there, still the same price, bizarre

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  24. #24
    They wanted to celebrate its birthday.

  25. #25
    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.

  26. #26
    Quote Originally Posted by adrianw View Post
    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.

  27. #27
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    Quote Originally Posted by adrianw View Post
    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.
    £2500

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  28. #28
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    Quote Originally Posted by Kingstepper View Post
    They might be able to afford to but If bought low, money effectively already made and better off getting it sold.
    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?

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  29. #29
    Quote Originally Posted by Matt68 View Post
    £2500

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    so nearly 40% margin, so provided they aren't strapped for cash they can afford to have it sit there

  30. #30
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    Quote Originally Posted by paskinner View Post
    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.
    Thatís why dealers with decent cash flow donít mind waiting. You still get a good return. The Rolex sales will keep you going in the meantime.
    Criky where are you banking?

  31. #31
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    Quote Originally Posted by adrianw View Post
    so nearly 40% margin, so provided they aren't strapped for cash they can afford to have it sit there
    For how long?

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  32. #32
    With the best will in the world I really donít 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 doesnít 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 isnít doing with your old watch!
    Last edited by vortgern; 18th February 2020 at 23:29.

  33. #33
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    Some people are best avoided in the pub .


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  34. #34
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    Quote Originally Posted by vortgern View Post
    With the best will in the world I really donít 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 doesnít 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 isnít doing with your old watch!
    Well you simply dont get the meaning of the post then, I was just curious, where did bothered come in to it lol

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  35. #35
    Master
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    I take it this was meant for another thread?
    Quote Originally Posted by Kitz View Post
    Some people are best avoided in the pub .


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  36. #36
    Quote Originally Posted by Matt68 View Post
    Well you simply dont get the meaning of the post then, I was just curious, where did bothered come in to it lol

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    My mistake then! But thatís 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.

  37. #37
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    Quote Originally Posted by vortgern View Post
    My mistake then! But thatís 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.
    I have the item "watched" on Ebay and pops up every now and then, you dont have to worry I'm okay lol

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  38. #38
    Quote Originally Posted by Matt68 View Post
    I take it this was meant for another thread?

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    Donít think it was.

  39. #39
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    Quote Originally Posted by vortgern View Post
    My mistake then! But thatís 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.
    I'd say natural curiosity about a strange situation.

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  40. #40
    Quote Originally Posted by adrianw View Post
    so nearly 40% margin, so provided they aren't strapped for cash they can afford to have it sit there
    Doesnít matter what it cost. What they have is an asset worth x earning nothing for y years.

  41. #41
    Master Christian's Avatar
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    I think its a good question/discussion about how dealers operate. Iíve no idea why anyone would flame the OP for either posting up what he sold it for or asking the question!

  42. #42
    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.

  43. #43
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    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.

  44. #44
    Quote Originally Posted by Christian View Post
    I think its a good question/discussion about how dealers operate. Iíve no idea why anyone would flame the OP for either posting up what he sold it for or asking the question!
    Quite, "Rolex - What's their game?" would have been ok.

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