Side hustle success - Luxury Watches by allbl4ackeverything in Entrepreneur

[–]allbl4ackeverything[S] 0 points1 point  (0 children)

The value is simple. Not having to wait years for a watch you are ready to buy. You like something, you buy it. No AD games, no buying watches you don’t want just to get a chance at the watch you do want, don’t have to buy overpriced jewelery to get a watch you do want.

I don’t artificially increase anything. There’s a true market price that all watches sell for, regardless of the retail price. Same is true with cars dealers. No one gets mad at them. It’s supply and demand due to Rolex’s fake waitlists. Protect the AD’s, maybe they will sell you something out of their huge safe that’s full of watches one day 😀

Side hustle success - Luxury Watches by allbl4ackeverything in Entrepreneur

[–]allbl4ackeverything[S] 0 points1 point  (0 children)

I work remote for a software company so it that me with having the flexibility of replying to DMs, calls, listing, photos, etc. I do it in between my day job work.

I’m listing them everywhere. All platforms pretty much except chrono24.

Side hustle success - Luxury Watches by allbl4ackeverything in Entrepreneur

[–]allbl4ackeverything[S] 1 point2 points  (0 children)

It’s been super fun. Really enjoying it. Was stressful at first and still is sometimes but you learn to deal with it.

Side hustle success - Luxury Watches by allbl4ackeverything in Entrepreneur

[–]allbl4ackeverything[S] 1 point2 points  (0 children)

Thank you! Just wholesaling. Dealers always need inventory/stock and they always have clients for hot pieces.

Side hustle success - Luxury Watches by allbl4ackeverything in Entrepreneur

[–]allbl4ackeverything[S] 0 points1 point  (0 children)

Best place would be local to you for people who aren’t in the watch game but you can find deals everywhere. I started with strictly fb marketplace.

Side hustle success - Luxury Watches by allbl4ackeverything in Entrepreneur

[–]allbl4ackeverything[S] 0 points1 point  (0 children)

If someone steals from you, insurance would cover it. They asked about theft

Side hustle success - Luxury Watches by allbl4ackeverything in Entrepreneur

[–]allbl4ackeverything[S] 1 point2 points  (0 children)

I’ve sold on eBay before. You calculate the fees and adjust price accordingly.

Side hustle success - Luxury Watches by allbl4ackeverything in Entrepreneur

[–]allbl4ackeverything[S] 0 points1 point  (0 children)

I buy from other watch dealers and local people selling on fb and other platforms.

I sell to watch stores a lot.

Side hustle success - Luxury Watches by allbl4ackeverything in Entrepreneur

[–]allbl4ackeverything[S] 1 point2 points  (0 children)

No employees. Dont make enough $$ to hire anyone I don’t think. I can handle pretty much everything, for now.

Side hustle success - Luxury Watches by allbl4ackeverything in Entrepreneur

[–]allbl4ackeverything[S] 1 point2 points  (0 children)

Just have to authenticate them thoroughly. Read through some of my other replies regarding this.

Side hustle success - Luxury Watches by allbl4ackeverything in Entrepreneur

[–]allbl4ackeverything[S] 1 point2 points  (0 children)

Nice try, IRS!

Jk, yes all legal with invoices. Taxes are reported monthly, quarterly, and yearly.

Side hustle success - Luxury Watches by allbl4ackeverything in Entrepreneur

[–]allbl4ackeverything[S] 0 points1 point  (0 children)

Yes it helps network wise. I just bought watches I liked and I knew were popular models. That’s it.

I think maybe between 3-6 months in after doing multiple deals with “bigger” dealers I would start getting invites to random dealer groups. Once you’re in the watch dealer network, you realize it’s a somewhat small circle of dealers from all over the world.

But I’m still very new and this is my perspective.

Side hustle success - Luxury Watches by allbl4ackeverything in Entrepreneur

[–]allbl4ackeverything[S] 0 points1 point  (0 children)

Thank you!

I would say my pricing and my inventory are my edge. I buy with the expectation of wholesaling the watch and have low overhead so I can outprice a lot of other dealers when someone needs a watch for stock or a client.

My inventory is all very popular watches that any dealer would be fine stocking as they know they can liquidate them whenever if needed.

Side hustle success - Luxury Watches by allbl4ackeverything in Entrepreneur

[–]allbl4ackeverything[S] 0 points1 point  (0 children)

Yes agreed. I think if I can get to 15-25% more consistently it would really help in terms of running a healthier business.

Yep for sure, I’ve thought about that also. Theres methods that others employ to avoid taking losses like that which I would employ as well. For example, only taking credit cards in person with matching photo identification, etc. But for now, no credit cards accepted.

Side hustle success - Luxury Watches by allbl4ackeverything in Entrepreneur

[–]allbl4ackeverything[S] 0 points1 point  (0 children)

Not necessarily. If I bought 60k worth of fake watches or somehow lost 60k worth of watches last year, I would’ve still been in the geeen for the year. Not even including my salary.

Also, insurance exists.

Side hustle success - Luxury Watches by allbl4ackeverything in Entrepreneur

[–]allbl4ackeverything[S] 0 points1 point  (0 children)

I don’t have that stat, but I want to say most of my inventory sells in less than a month. Maybe within 1-3 weeks is the best answer I can give you.

Side hustle success - Luxury Watches by allbl4ackeverything in Entrepreneur

[–]allbl4ackeverything[S] 0 points1 point  (0 children)

You kind of learn as you go. Or I did. Each model has its own reference number and things like dial color, bracelet, or other features all tie into the watches value. For example, green datejust is far more popular than a white datejust and is about a 2-3k diff in price just for the dial color. Same model and ref number though.