It is simple to make money flipping timepieces, but there’s a widespread misunderstanding that timepieces depreciate and that luxury items are liabilities. Here are three important elements that enable people to earn a lot of money with their watch trades.
1. Buy timepieces that appeal to a wide range of people.
Your finest clients are not other watch enthusiasts, but rather everyday folks who want to get a fantastic deal on their dream timepiece.
To the average person, it’s all about saving money on their timepiece, not getting the best deal.
More popular versions, on the other hand, perform better with a larger audience. In addition, more niche boutique models do well as well, but they sit on shelves for a while.
2. Make less than excellent timepieces and make them excellent
The majority of individuals are unaware of how to replace the straps on their timepieces.
This is why people are willing to pay a premium for excellent, unused watches, and it’s also why unfinished timepieces stay longer and bring in less money.
This opens the door for you to discover such timepieces, purchase them at a discount, polish them, and replace any necessary components like bands or screws before re-selling for a profit.
If you can repair a damaged or poor-condition watch for small amounts of money, you may earn a greater margin at places like The Watch Exchange London.
3. Deal with individuals, not jewellers.
Thousands of incredible offers can be found all over the internet, but the greatest ones come from individuals who have previously sold their main timepieces.
Look for phrases like “worn for 3 years and want something new” or “loved it but sad to let it go,” among others, to identify them.
People who are more in the moment and don’t focus on money are typically more interested in acquiring their next watch.
Because they’ll need to sell one in order to purchase another, their eagerness to sell lower increases dramatically, allowing you, the buyer, to capitalize on their mistake.
These are just three of the hundreds of strategies I show in order to earn a substantial supplementary income working 1 to 2 hours per day from your home or phone.
You can make a considerable amount of money while still living the high life and showcasing your passion for wearing timepieces to individuals who might help you advance in your career.