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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!

100 comments on “How to Make Money Selling Watches – My 5 Secrets to Success

  1. This guy’s place is like an apple store and is straight forward, the other guys in Seybold are like little chop shops and seem so shady. I still can’t afford any of those…yet

  2. https://www.flipkart.com/search?q=goodfortune+watches&as=on&as-show=on&otracker=AS_Query_HistoryAutoSuggest_0_0&otracker1=AS_Query_HistoryAutoSuggest_0_0&as-pos=0&as-type=HISTORY

  3. I like this guy! He knows watches and the watch market in general. Eric is telling the truth when it comes to making $s in timepieces.

  4. I was JUST ABOT- to watch But just looking at you! You come across as a sleazy car salesman! Wearing sunglasses in a video? while flossing your hi-end watches…

  5. There are others that promote their businesses through such a format, and certainly aware of the technical aspects of the business. Frederico, Tim Mosso and others exemplify the most significant part. The intangible  but important … the consumer buys the seller and the product, w/e the product.

  6. Lol am visualising a hat, trench coat shady person.. Dangling watches.. Lighting and batman on building roof 😂😅🦇😎

  7. I replaced the word "watches" by the word " pr*stitutes " , and made this video a tutorial for becoming a pimp .
    I'm hella smart .

  8. It still seems to me you will need a few million dollars to get inventory even if you do everything online which I think many used watch dealers use and make videos.

  9. Great advices Eric.
    Don‘t let anyone‘s stupid comment stop you making great videos like this, they are for sure jealous of all those watches or pieces of art you own.

  10. Eric you look like a good man
    I come very often in miami at the Fontainebleau.
    I will probably come to say hi to you next time I come

  11. Ive watched a few of these vids now & wondered why are you wearing sun glasses. Then the comment "this is my channel…..& I'd never do business with someone wearing sunglasses." then the serious stare pose. You have class my friend, & you have style. I'd be more than happy to buy a watch from you. Well said, & well done! Cheers groover 😉

  12. That GT3 is just 👀👀👀👀. Awesome video as always Eric, inspiring story and many congrats on all your success. Next time I’m in Miami, definitely swinging by the store! Keep up the great vids!

  13. Great to see somebody who works hard from the bottom to the top…. the rare quality of people today.
    While my watch collection focuses on something more affordable for a normal Asian kid on my age:
    Casio watches / gshock a
    Swatch watches / one vintage and one new.
    Thank you for the theory you have to made for a dream job…
    👍 👍👍👍 thumbs up…. just recently subscribed.

  14. If you have to explain why your wearing glasses and you wouldn't if your selling one.Whats does that say about the people watching you?To me no respect.Many people refuse to watch people especially indoors.It's a lack of respect. Video was not much other then getting to know the product and your customer's. Respect yourself and others. If it bothers others then remember those could be some of your future customers.Are you teaching others that want to get into this bussiness do whatever you want sometimes. Sorry but the reason people don't like glasses because it is very impersonal and many people that where glasses for the sun inside think you are hiding something or did you know glasses freak alot of people out especially in a nice establishment. Reconsider it's not about you it's about you helping others and them trusting what you say.

  15. Can you swatch me a Rolex Daytona 18k y/g on strap with boxlock for a Rolex Datejust Lady Crown collection Presidential 18k whitegold. 10diamonds inside and 32 diamonds around,the link is not stretshed and it goes perfect. Ref nr.6913 only 2 for sale Worldwide catc me on my FB im from Denmark.(if anyone going this Way with a Rolex 18k for swatch)..

  16. Never buy from some guy who obviously has too much money from ripping everyone off that he can afford a sports car.

  17. You have the savviness of a high end car salesmen! Minus the bullshit of a dishonest big 3 manufacturers sales guy! I'd buy a watch from you and be good to go!

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

    You'd have better luck day trading instead of trying to dabble in luxury watches. I must imagine sales are far and few in between and profit margins vary widely.

  19. Eric, I called your office today looking to trade/swap a new unworn Rolex Batman with B&P for a used YMII all Stainless. I also wanted to trade my used 2012 Rolex SubC for a DJII. Can you do video on swap trading. Your team members didn’t see this as an opportunity for CRM jewelers to make money. IMHO, I was willing to trade market hot (my watches) items for Market Dogs (less demand YMII and DJII)…. the profit is for CRM jewelers to keep. A SubC sells higher and quicker on avg than a two tone DJII. The Batman is in way more demand than a YMII all stainless. If Dealer cost is <$9k on DJII, and <$12k on YMII, eBay recent “completed sold listing” show Batman sells on avg at $14k and SubC sells at $10k. That’s a easy and relatively quick flip for $3k minimally, maybe even more..

  20. He might look cocky. He might look like he thinks he is all that. But who could blame him. He did his homework and did it well. So who give a fck what ppl say. He deserved it.

  21. So where do you buy watches for wholesale prices? I think this is the main point. Let's say I wanna spend a half a mil on some Pateks, where do I get them? Obviously Patek won't sell to me directly.

  22. Wow! really man? buying cheap and selling more expensive? Thanks! How about you write a book about your points!!

  23. Hi Eric
    I buy and sale a few Rolex watches……your vlogs are great and I agree with you on every thing be professional
    all the time even if you don't get a sale.
    I have had people come back to me for being Frank with them ….watches that don't have certificates or
    boxes leave alone mind you boxes are easy to source.
    And then the ones with gems leave them be and secondly if I am out in a ruff neighbourhood and some
    one comments on my watch I all ways say not band for a copy.
    Thanks for your vlog my friend….sky

  24. Success stories are not suitable for everyone. The important thing to extract from these is the mindset and strategy

  25. https://euroskye1.com/products/parnis-40mm-mechanical-watches-gmt-sapphire-crystal-man-watch-2018-diver-watch-automatic-relogio-masculino-role-luxury-watch-men

  26. I take interest in watches it's a shame that company's like Rolex operate the way they do so that you pay crazy prices for certain models like submariners.

  27. Why do I even bother clicking on this thinking you're going to provide something of depth? Nah. Waste of time on this egomaniac.

  28. 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?

  29. 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?

  30. 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.

  31. 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!

  32. 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.

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

  34. I have jsut started my little business and have already made 250$. I make sure the watches I buy are real, then I put them up for reasonable prices. I am 12, btw.

  35. You touched on a lot of points that can be applied to many enthusiast niche markets, very well structured video and tips. Thanks!

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