Too often, there’s this misconception that buying a luxury watch is an expense instead of an asset you can enjoy. On top of that, you can make money to boot! If you’ve subscribed to the Watch Trading Academy YouTube channel, you would already see the plethora of ways people have been making strong returns on watches most can only dream of owning. The best part?…
You can do this with very little money. And even $0 if you’re resourceful and know how to execute.
Don’t believe me? That’s fine! Because I’m going to show you right here how you can make $1,000 PROFIT in just 5 days trading watches. Better yet, I’ll show you multiple ways so you have zero excuses!
Scenario #1
You have $1,500 set aside that you can choose to park somewhere.
Day 1:
You go onto eBay and type in two to three popular luxury timepiece brands like Breitling, Omega, and Bell & Ross. You organically look around to see what types of models are out there and what prices they’re listed for. An insider tip that you can use to figure out what is popular, is click on a model that has many viewers on the listing. Then, refine your eBay search by typing in the keywords for that specific model. Use the rank sort dropdown menu to click “Best Match”, and see what models are ranked highest. Let’s say for example, you find that an Omega Speedmaster reduced (39mm) piece is listed for $2300. You can easily negotiate sellers down to much lower price if you use certain strategies. Especially if they’re a private seller who may not know how to position or market their timepiece in the best way.
Leveraging their inexperience, and helping them avoiding seller type fees can drastically reduce the price they’ll let go of their watch for. I’ve gotten these watches for anywhere from $900 – $1,500 depending on how complete the set was.
So let’s say you make 20 offers to sellers on this specific model, and out of those 20, 10 don’t respond, 5 respond with no desire to move on price, and 5 are willing to work with you. You can easily close 1 deal out of those remaining qualified 5 negotiations and buy the watch for $1,300. You pay taxes on that purchase through eBay so you’re all in at $1,395.
So by the end of day 1 you’ve purchased a watch, and now you tell the seller you want it shipped via Fedex overnight.
Day 2: The seller ends up doing 2 day shipping instead of priority, but that doesn’t stop you from starting to market the watch and get interest. You take the photos from their old listing and start sending it out to your network, friends, and even posting it locally to Craigslist etc. where local buyers may be more inclined to pay a premium because they’re afraid to do business online and want to actually see the watch in person. You get a few hits at your asking price of $2,650, but no sales.
Day 3: You get the watch, inspect it for authenticity and any unforeseen issues. You check to ensure the timekeeping is accurate. If you don’t know how to do this or avoid getting scammed, we teach you how to do this step by step in the Watch Trading Academy course, and through articles you can find here on the blog with a search for “scam” or “fake”. If the watch is keeping good time and as described, you take photos of the watch in great lighting the same day, and get it listed up on key platforms like eBay, Chrono24, ValueYourWatch, etc.
Day 4: You get 15 inquiries on the watch because you have nicer photos than the seller previously did, and you start chatting with the people who want to buy. Some low-ball you, and some are serious. You narrow your negotiations down to 2 people who you can have compete against each other. This type of strategy is good for retail buyers because they think they may lose out on a beautiful watch they want, so they start bidding up. Buyer A says they’ll do $2K in cash in person, and Buyer B says they’ll do $2,200 via bank wire and you have to ship. You tell both buyers that you have another person interested and are motivated to sell, so if they can come up a bit they’ll get this great watch for themselves. Buyer A stays stubborn, and says I can’t do more than $2K. Buyer B comes up to $2,450 which is almost halfway between your full asking price, and theirs. You did a great job checking the market pricing for these Omega’s since you took the WTA course, so you know you have one of the best listed prices anywhere anyway. And since this person is a true retail buyer and not a trader, they don’t know where to find all of this data to beat you up on price. Buyer B wires you which hits the same day, and you tell him you’ll ship the watch tomorrow when the wire fully clears.
Day 5: You close the deal at $2,450 and include shipping as a service to your buyer after the wired funds clear. You send them tracking, and a nice little note in the package thanking them for their business, as relationships are everything in this world which we teach in the Knight Watch course of WTA.
So there you go ladies & gentlemen! In 5 days you just made $1K which is a stellar return on investment. 175% in fact.
Scenario #2
Is set up almost the exact same way. You can run a similar process with the market research, preselling, marketing, and selling to your network. But in this scenario you can do it starting with $0!!!!
HOW???
Option A) – You check out PayPal Credit or a similar entity for a 0% interest line of credit for 6 months that you can use to buy watches where PayPal is accepted (like on eBay).
Option B) – You can broker the watch deal. For example, you can either find a watch and negotiate a seller down to a good price, then take the pictures and shop them out to your private network (NOT listing it publicly like you own the watch!). And you see if anyone is interested. You become the middleman, and close the deal on both ends taking your profit margin for connecting the buyer and the seller, and you always act as the quality control center.
Or…
You can search watch forums for WTB = want to buy ads and see if you can source watches for qualified buyers looking.
These are just a few of the several ways you can get creative and make money in this game if you know what you’re doing!
For more info on this, and how to make much more than $1,000 in profits trading watches join us in the most robust watch trader community globally and sign-up today.