How A Stay At Home Dad Changed His Life Flipping Watches
The journey started almost two years ago when I found out about the Watch Trading Academy from my friend Pejman Ghadimi, who just so happens to be the founder. At that time, I was trying to start a business while staying at home with my son. None of the companies were the right fit for me. Pejman asked me why don’t I try out watch trading while spending time with my son?
I was comparing the pros and cons of joining the Academy at the time. The fantastic benefit of starting a watch business was the learning experience of running my own business from home. Learning about LLC formation, setting up a business account with a bank, learning how to sell, dealing with customers, and creating high net-worth connections first hand was extremely valuable.
The only con imagined in my mind before starting was, should I really spend money on something which will benefit me for the rest of my life? In other words, there were no cons for me because I knew that I would like to have my own business regardless of if it was just in the watch industry. So the experience of going through the process alone would still be worth it.
Flipping watches for profits is a progressive business in my experience. By this I mean, if you do not give up, you will succeed, especially if you have the right support throughout the earlier momentum building phase.
So… how did I start?
When I invested in the primary Watch Trading Academy course, which introduces you to the world of watch flipping, I discovered that there was so much information about watches that it seemed a bit overwhelming. Keep in mind, I had no idea about watches before I started this course. I used to wear cheap watches like Invicta and MVMT just because I wanted to know the time. But I had no idea that I could do this with watches that were much higher quality and make money while doing it.
After going through the whole course, I decided to purchase my first watch. I bought the watch on a Rolex Forum from a reputable seller. To be frank, I was very nervous about sending money to someone I didn’t know. It reminded me of the anxiety I had the first time kissing my now wife. You have an idea of what to expect, but you’re still a bit nervous.
When the watch arrived in the mail, I opened the box, and I was very pleasantly surprised at how beautiful it was. I had never owned an automatic watch to that date with white gold in it. It was a fantastic timepiece which started the whole journey of watch flipping for me.
The first watch I flipped for profit was the first watch I bought after joining the Watch Trading Academy. An Omega Seamaster 300 with a white gold bezel. It had an automatic movement with a black dial which had waves engraved on the dial. Just an overall stunning watch.
When I took some pictures, I listed the watch for sale on various forums including a Czech watch forum, because I was going to visit my family back in the Czech Republic. Serendipitously, that one person in the Czech forum wanted the watch for more than I what I was in it for. What was even more amazing to me at the time, was that I sold the watch for $175 net profit! So I took the sales proceeds and changed it for Czech currency to enjoy my vacation. At that point, I was hooked to the watch trading game!
How is watch trading progressive?
To put it in perspective, I used to make around $100-$300 average profit per watch. I did lose money on a few watches, which is sometimes part of the learning curve. But I said to myself, “I am not going to make the same mistakes again”, and I worked hard to do just that. I began to think “there must be a more efficient way to make money buying watches at a better price point.” I just didn’t know how to locate those killer watch deals right when starting because I was still growing and learning.
Fortunately, there was an advanced training course at the Watch Trading Academy, which gave me a more in-depth understanding of how to become a better watch trader. I began to learn that watches have what Pejman teaches is a bottom cash value (BCV), which means that the watch will not be worth less than that bottom number. All I had to figure out, was how to negotiate those watches I wanted to buy as close as I could to that BCV number.
That was an eye-opener for me because I now understood the numbers that jewelers would buy my watches for if I needed to liquidate inventory immediately. From then on, I just needed to find those sellers who were likely to let me have their watches in that target range. That’s when I started to build momentum and buy better deals. The bigger profits came as a natural result of my learning and understanding of these concepts.
It was a fantastic feeling to know that I’m now the person responsible for the paycheck I bring home. Being able to buy and sell watches for a living is a tremendous feeling!
Today, I average around 10-20% profit margins on my watch trades. Some watches I can sell in 24 hours, and others I keep longer than a month to hold out for a bigger profit.
As I have learned from the courses, if you cannot replace the watch you have for less than you bought it for, do not sell it. Someone will eventually buy the watch if you market it correctly and are patient.
The world of watch trading opened up many doors and opportunities for me and my family which I am eternally grateful for. I would have never thought that by joining the Watch Trading Academy, my life would be directed towards a better future!