April 8, 2020
How to Make Money Selling Watches – My 5 Secrets to Success

How to Make Money Selling Watches – My 5 Secrets to Success


This is Watch Your Style. Today I’m gonna be talking to you about How
to Make Money Selling Watches. So but let me talk to you a little bit about
my background. I get a lot people emailing me, calling me,
and leaving me comments asking me how did I get started in the business? Some people thing that I just got handed over
five million dollars and was able to play around with watches. That’s not the way it works and I wish it
would. But it doesn’t. I came from a middle class family. We’re all hard workers and if you would have
told me sixteen years ago that I was going to end up buying, selling and trading luxury
watches, I would have probably thought that that was not going to be it. But I’ve always had a passion for watches
since I was a little kid. I started off collecting Casio calculator
watches back in the early 90s. There was also a craze back with the Swatch
watches. It just was a different time. So I’ve always loved watches and I’ve always
been an attention to detail type of guy. I seem to log in a lot of information about
the product. Then what happened, this maybe about 10 years
ago, I found myself in a position where I was making money with a job, good job and
I had a lot of free time with this job, so I was able to buy, sell and trade a lot for
myself. So I started buying, selling and trading watches
for myself and for a couple of my close friends along with my dad and my uncle. I started shopping the deals. You know, you start buying a watch and you
trade it for another one. You kind of start making some good deals and
some bad deals. So that’s pretty much how I really got started. Next thing you know I had friends refer me
other people. Then I made so many contacts that one day
I just started getting offered jobs. And that’s when I really stopped and started
think about it and I said, �Hey, maybe this is something I should consider doing.� And
I made that move and the rest is history. So now I’m going to share with you 5 important
secrets that I learned over the years. So number 1 for me is probably the most important
one because when all these other fails, this is the one that’s gonna stay with you and
its…get the right product knowledge! What does that mean? You gotta know the product. You gotta know the watch. You gotta understand the condition of watches,
if it’s real, if it’s fake. Those are the type of things you need to learn. Has it been altered? Has there been parts changed? That’s something that you really just can’t
learn overnight. You gotta take risks and you gotta absorb
the knowledge and experience and have attention to detail. So pretty much do your homework and understand
the product. Learn how to use the loupe. Having attention to detail. Do as much research as possible. It’s pretty much no shortcut for this type
of stuff. It’s all gonna be experience, experience,
experience. Number 2 is going to be learn how to forecast
the market accurately. What does that mean? I mean, pretty much you gotta know what’s
hot and what’s not. It’s almost even better if you can feel around
that curve and know what’s the next hottest watch. Just because you never wanna buy a watch right
when it’s about cold because then you’re gonna sit on it. So you gotta watch the market and understand
the trend and know what’s hot and what’s not. What’s selling and what’s sitting. That’s what’s gonna make you successful if
you’re trying to flip watches and make money. You never wanna buy that dog that’s just gonna
sit there and no one’s gonna buy. And always have a backup plan to know, an
exit strategy for that watch you might buy that you can’t get rid of. So number 3 is not an easy one, but you’re
gonna have to establish industry contacts. Pretty much you’re gonna have to establish
some type of source where you can buy your products, where you can repair your products
and do maintenance. You gotta have the right guy for the job,
so you need to find some type of contact or somewhere where you can buy watches at a reasonable
price that you’ll be able to be profitable when you sell them. [beep] So good luck with that one. That’s the one that takes the most money. [laughing] [beep] Number 4 is gonna be Make the Right Impression. Guys, when you’re selling a watch and when
you’re buying a watch, you have to make the right impression. You don’t wanna to make it feel shady like
you’re doing some type of illegal transaction at a back alley. I know I got plenty of guys that are all my
comments, trolling saying that, �who wears sunglasses in a video,� and that I would
never do business with somebody with sunglasses. I mean, are you kidding me?! Listen, today it’s Sunday and I’m here recording
a video, not to mention it’s my channel. If I feel like wearing sunglasses, I will,
but remember, I will never do business in front of somebody wearing some sunglasses. So keep in mind how you look. I mean, you definitely wanna look like you’re
official and you wanna come off like you’re official. You don’t wanna be that guy that looks like
the guy in the back alley with the trench-coat and all the watches tangling, you know? Nobody wants to buy an expensive with that
look. So here’s a quick example for number five. A lot of times I got clients that call me
and they want a watch and they say, �Hey, what do you think about this watch?� But
I know this guy and I tell them, �listen, it’s not for you. You’re not gonna like it.� He says, �But
why? I think it looks good.� I go, �Maybe…I’m
telling you. I’ve sold you many watches. You’re not gonna like it. It’s too small. It’s gonna be the wrong outfit.� I know
my clients and I know what they like, so you never wanna sell somebody a watch to make
a quick buck if they’re gonna turn around and not really be happy at the end. So know your client and know they’re taste. It’s pretty much what I’m trying to say. So pretty much the watch market is not as
easy as it looks. But with enough determination, anything could
be done. You know, the one question that people ask
me is, �What advice can you give me to get into the watch business?� And the one thing
I can tell you is, you need to start spending money. There’s really no other way to do it, but
to start spending money. So if you’re thinking about getting into the
watch business, don’t forget step number 1, Know the Product. And if you liked this video, please like and
share. Also, subscribe to our channel. My name is Eric, Watch Your Style!

25 thoughts on “How to Make Money Selling Watches – My 5 Secrets to Success

  1. Eric, what is you opinion on the Watch Trading Academy? Do you think it’s worth the investment to get a better idea of the watch market and be successful?

  2. I have a question. If you live in a small town and want to start a business with watches, is ebay the best platform to buy them?

  3. Hey any1 have any tips what I should look for when buying a new Rolex.
    How do I really know that the watch is brand new and not something the seller had in the store and had ppl try it. I ordered a Rolex and the seller didnt have the right dial in the store.
    How can I know if they just didn´t just change the dial and says that this is the brand new watch I ordered.
    Thanks in advance for the tips to look for.

  4. 6. Wear dark designer sunglasses when pitching a sale so they can't read your eyes.
    7. Never give your best secrets (e.g. sources) unless you want more competition
    Just busting balls… very informative video!

  5. Blah Blah Blah… Great pastiche… this is a stand-up comedian playing a role, right? Actually quite endearing and if he's for real… I like him… but not the stupid sunglasses. Suggest you just read the notes and don't waste time on the video.

  6. Great advice, how does a normal working guy get on the list of the sort after watches to start with?

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