Reply With Quotenot sure won't bother ever get a quote again off them, as other day wanted a quote for bi metal Daytona full set and fell on the floor. £6200 to £6350Originally Posted by ~dadam02~
Sent from my SM-A530F using Tapatalk
[QUOTE=kaiserphoenix;5417576]Honestly haven’t seen any deals as of yet....prices for watches like 5980, FPJ Ressonance, Daytona have basically stayed the same in some cases gone up!!
On the other hand we see prices for the majority of other brands taking a big haircut. I guess sort of like the stock market u can’t just label “watxhes” as one entity there will be winners and losers.[/QUOTE
Still too early to see impact, wait till 7m come off furlough?
not sure won't bother ever get a quote again off them, as other day wanted a quote for bi metal Daytona full set and fell on the floor. £6200 to £6350
Sent from my SM-A530F using Tapatalk
Seems like a perfectly reasonable offer, depending on condition. You seem not to understand that Watchfinder is a business.
If you don’t like Watchfinder offers, as evidently you don’t then, instead of continuing to request them and then bleating on the internet about their magnitude, why not just sell your watches to somebody else? If they are worth the fortune that you feel entitled to it ought to be trivially simple to find someone to snap them up.
That offer is criminal!
Sent from my iPhone using Tapatalk
How can you say the offer for the Daytona is fair? i know they are a business, and I know they need to make a profit but they would be selling it for more than double. IMO that's not a fair offer and isbasicly saying that they don't want the business.
I don’t think £6200 for a full set Daytona is anywhere reasonable, I think bleating there offers on the internet has been happening a long time when they were good offers, why stop now ?!
Sent from my iPhone using Tapatalk
I think some people cheese slipped off there cracker if they think that is ok. well it went to a dealer in manch for £9500.
so how is that reasonable offerthere are business that upto till about one year ago everyone was blowning up about how great they offers are, my point to thread was about letting over folk know there's offers are a joke
Sent from my SM-A530F using Tapatalk
Last edited by bokbok; 17th May 2020 at 12:42.
I don’t have an issue with this type of offer at all. We are in the middle of an economic meltdown and they allow people to convert watches to cash hassle free. The OP is free to find a better offer; which he did.
He did, 3k better from another dealer , hence the thread topic
Sent from my iPhone using Tapatalk
Not from WF but I got a cash offer of £9.1k from an AD for my 2015 BLNR today. Thought that was a very good offer from the trade in the current climate. No doubt WF would offer a few grand less.
Seeing that they’re trading the BLNRs for around £12k... nicely done!
Thanks
S
Didn't take it, just checking value
Little OT...found this a bit curious...6 weeks ago Watchfinder had 6200 watches in stock...now 5200...making an average of 166 sold weekly...23/24 daily...not including the new arrivals of course... under performing or not?
I don't think they list all of the watches they have in stock on their website. When I was inquiring about my BB41, I asked if they could offer any more as they only had 1 listed on the website and the person on the phone said they had another 7 or 8 not listed.
You are not considering selling it are you!?
After the change to the 'batgirl', the original became even better somehow!
They never list every watch they have. They can't risk flooding the market and lowering their sell for price.Don't really like it, tempted to turn it into a D-Blue or SD4K but in no real rush. Biggest factor putting me off is my entire address on the warranty card but I could sell without the card for less but that somewhat defeats the point as it makes the D-Blue even more expensive.
what's the big deal about your full address on the card ?
Sent from my SM-A530F using Tapatalk
My point is...you would expect at least 50-60 watches sold per day to balance the book and get enough profit..or maybe I am wrong on figures..
Why not just go over your address with a thick permanent marker. This was done on a watch I purchased a few years ago, dealer said it was for DPA.
If watchfinder are selling so many watches then why have they introduced 0% finance for 6/12 months? (what's the point of incentives if watches are selling ?)
As others have pointed out they dont list all their stock and might have taken multiple watches offline, perhaps to trigger a response from a potential customers who has been watching a few for sale etc.
Not keen due to security. "Hey here's the full name address and door number of someone who buys £5-£10k watches. Happy hunting!"
Sounds stupid but I didn't know that was allowed. Thought it might invalidate the warranty or cause some issue. Good point though thank you.
The best way to obscure text is to write the alphabet over the writing back and forth a few times. Works a treat! Source: used to be a spy
think you being over dramatic sell it in sales or to dealer, they would ask for your address anyway.don't really see a issue
Sent from my SM-A530F using Tapatalk
No problem with a dealer knowing my address.think you being over dramatic sell it in sales or to dealer, they would ask for your address anyway.
Sent from my SM-A530F using Tapatalk
unless your going to try to sell on eBay don't see a problem
Sent from my SM-A530F using Tapatalk
RSC regulated the watch with no issues so I’m confident it doesn’t affect anything.
But I guess the dealer sells it on, and then it could still end up on eBay in 6 months. I have seen that before with full name address details on warranty cards on eBay, and always thought that was a bit indiscrete.
it seems a problem created out of nothing!! the watch could end up miles away from his house 6 months or what ever down the line etc...
Sent from my SM-A530F using Tapatalk
I’m largely with you, however I was responding to the point you made about “unless you’re intending to sell on eBay”. I was highlighting how it can very easily be on eBay before you know it. Ask Ryan, he knows.
Thought I’d bump this thread with my latest experience with Watchfinder. I spotted on the website a watch I’ve owned before and regretted selling. An IWC Mark XV. I’d also posted a WTB for one, without success. I didn’t have the means to pay for it and so I entered details of a couple of watches as potential trade-ins. I thought they’d possibly consider one as a trade-in and reject the other. But they responded with decent valuations for my two. If they honoured the top end of their valuations I’d get the IWC and some money.
I posted the watches and after a couple of days they agreed to meet the top end of their valuations. The IWC arrived earlier today and I know the cash will be in my account within a couple of days. This XV is definitely a keeper.
The odd thing is they already have several examples of the two watches I traded, a Bremont and Tag Heuer. They’ll make a tidy sum on the pair of them for sure, though it could be months down the line before they sell. Anyhow, I’m happy with the outcome.
Out of interest, what sort of spread was there between what they paid you for yours and what they are advertising the similar examples at?
I'm considering seeing what they would offer as a purchase/trade on one of my watches. They have one for sale at my target price + 65% but I haven't enquired as to what they would offer due partially to the above posts! Its still under guarantee and no where near needing a service so I imagine prep costs would be minimal.
FYI - I sold two watches to WF last week- their offers on these watches were up by almost 30% on what they offered me on the same watches in Feb and April. So it seems to be largely back to normal now.... Almost £10k on a Hulk with no papers and about £3k on a speedy sapphire sandwich. Up from offers of £7k and £2k a few months ago...
To be honest, I’ve not paid too much heed to what the watches I’ve traded are being listed at on the website. On one watch I lost a little and on the other a bit more, but not excessively. One is still under warranty, the other would probably benefit from a service. I could have listed them here, but I suspect they wouldn’t have moved quickly. They’ll have to allow for VAT and the likelihood of the watches remaining in stock for several months.
I’ve never made a profit or even covered my outlay on a watch, but I’m comfortable with that. If that had been a concern I would have kept out of this game altogether. I like my new arrival and I think it could well be the one watch that meets all my needs. Wouldn’t that be something?
I've had a different experience with WF recently...maybe it depends on your expectations and the watch, I'm not sure.
I had a watch that, off and on, I'd been considering selling (Rolex DJ41). Last year they gave me a really decent price quote and pretty much exactly what I could have expected to sell on Sales Corner for. I chickened out on selling but then in April decided to consider letting it go again. The estimate had dropped by over £1000 and was nowhere near what I could have got on the secondhand market. The offer was seriously lowball. Probably a blessing in disguise, I was selling because of my unfortunate job situation. As the watch has some sentimental value being worn on my wedding day, it made me think I'd be stupid to sell and the watch has since gone back in the watchbox.
I think it really depends on whether they think they've got a quick resale or not. If not, it's like a tradesman that gives you a high quote because he'll only take the job on if you are stupid enough to pay the ridiculous price.
They also lowballed me in April, but last week their offers increased again to what it was last year - I think they were lowballing in Feb to May, but on the two I sold last week it wasn’t far off what they go for on SC.
ive sent them a few rolexs for prices so will see how it goes
The shifts on purchase outlook I think may be related to (a) the inventory they already have of the model being offered for sale, together with (b) their perception of the market and economy at that time.
Looking at their financials, in the year to March 2018 they made a profit of £5.6m on sales of £107m - not bad, but not the best margin in the world. In the following year through to March 2020 they made profit of £4.9m on turnover of £113.6m (so turnover up £7m or 6%, but profit already down, even in March 2019).
Also their total inventory value at March 2018 was £29m, and one year later was £39m - so a 33% higher stock level (and £10m in cash tied up...) even at that time. Cash on hand was under £1m, so not an awful lot, especially considering "payments due within one year" was almost £19m, up from only £3m the prior year....
Obviously their results through March 2020 are not due until end of this year, but already by March 2019 things were showing a trend toward needing a more cautious approach. If I were on their board I'd have long since been instructing to be VERY careful with inventory levels, with stock turns, and with prices being paid. Those consierations (and more) would be absolutely normal given their position and the economic outlook.
Xupes is the new watchfinder, they compete hardest on prices
strange that my mate got offered 7400 to 7600 box and papers yesterday
Sent from my SM-A530F using Tapatalk
Last edited by bokbok; 26th June 2020 at 09:34.
Which watch sir? What condition did you state? Sorry cannot read your email.strange that my mate got offered 7400 to 7600 box and papers yesterday
Sent from my SM-A530F using Tapatalk
Rolex hulk box and papers, it's Tapatalk why cannot read it
Sent from my SM-A530F using Tapatalk
just got 3 offers all of them derisory, i was just curious
DJ41 with jubilee and WG bezel bought from them, mint - £5k, they are selling at £8+
Submariner LV Hulk, bought from them, 5 years old, mint - £8.5k, they are selling at £14+
GMT2C, 2 years old, mint - £6.4k, they are selling at £10+
i know they may not achieve their asking prices but these offers are 1000s less than they were a few months back
As of Mar 2019 they had £40m of stock, and less than £1m cash - I suspect cash likely to be less today.
£1m sounds a lot of money, but it's only around 100 Hulks - if you already have a few in inventory and cash is low, you simply can't afford to buy more unless the purchase price is too good to pass up. That's how companies go bankrupt - not because their business model is bad, but because they simply run out of cash.
I expect they're already sitting on 'enough' of these watches, so just reply with lowball offers that they expect they could easily convert quickly back into cash in a 'Sale' if they had to.
plenty of businesses dont hold excess cash, presume they have wc financing lines.
Interesting that offers on similar watches seems to vary quite a bit - the Hulk I sold to them last week was also bought from them, so perhaps that makes a difference to them. They estimated it as about 2 yrs old (has the latest dial), but no papers, yet almost £10k offered - I still took a £1k loss compared to what I paid in January mind... but maybe as it also was just a few months it also affected their offer.... ? Very strange indeed to see such variation in their offers...
Also, mine was a part exchange together with a speedy on a 39.5mm Planet Ocean... so perhaps that also makes a difference....
mine was bought from them as well.
exactly what the offers expected now from them unfortunately. Hence the shock of near 10k for watch only hulk
Sent from my SM-A530F using Tapatalk
With these levels of quotes from the biggest buyer in the UK, it is understandable that so many flippers have turned to Ebay as highlighted by David D to try and salvage a profit from their June 2020 unworn purchases.
Appears from a Rolex model position that unless you have a Ceramic Daytona bought at RRP to sell, then nearly every other model now is receiving below or close to RRP offers from the majority of Secondary dealers. They however are looking to maintain the status quo on selling price under the guise that they are paying higher margins to get these models in stock, when it is clear from Watchfinder etc offers that this is no longer the case.
Anyone who has paid significant over RRP and was looking at a nice return down the line, will be looking at these quotes from WF etc with a little trepidation.
Richemont online distribution network which WF are part posted losses of nearly $300 million for the period to March 2020 and further deeper losses are expected for the remainder of this year and next. However Richemont feel that they are ahead of the curve for the industry in general regards luxury good sales platforms and that these losses, although bad looking on the balance sheet, will pay dividends in the long term.
WF under Richemont is not the buyer/seller it was in the early stages of its growth and is no longer the go to store if you are after a fat profit.
Posting Permissions
