The first time I tried to sell a gun to a gun store my jaw dropped at how little money they offered . The best life lesson I learned was never sell a gun to a man with a room full of guns. Watch dealers are in the same situation they always assume they hold are the cards because they will always assume you desire the money way more than the watch. Really proud of you that you did not take the low ball sucker offer
Just had same experience for my wheels, I found a place that sells used wheels because I want to change mine. Mine used (4) with wheels are selling for $2000 to $3000 depending on where you look, the place that is selling the ones I want say they will buy mine back to lower price of new ones, mine have 26k miles on them in new condition not one scratch on them they offered me $600. Each tire is $500 new mind you they have 26k on them but typically last 40k.
I tried to sell a coin collection, everything from well worn wheat pennies to mint Eisenhower dollars. When I wouldn't let the pawn shop cherry pick the coins they offered me face value for the lot. I'm pretty sure I could spend them at the Piggly Wiggly and would rather do so. Some people mistake kindness for weakness.
My grandfather was just like you, suspicious of anyone who’s trying to do business with you. I spent a lot of time learning from him, and now any time anyone in my family or their spouses go to buy a car they ask me to go with them lol.
They probably sold the watches already. In your next correspondence, tell them if they don't send back the watches, they would have to pay you an extra $500.00 per watch.
I’m not sure how that works. “If you don’t send me the watches back you must pay me an extra $500 per watch.” I guess it sounds nice, but what recourse would you have to enforce that, even if you took them to court, it seems somewhat arbitrary. At that rate why not 1000, 2000, etc?
I bet he would make you a very similar offer. He has a video where he is very transparent about the math behind offers on used watches. You should check it out. Bottom line is that used Omega is probably going to sell about 70% of RRP and his margin factor is 0.7. So .7 x .7 is about 50%.
Yeah, he ain’t giving top dollar. Not slamming him, but someone that frequently states he’s selling the cheapest one in the US or on the internet, how do you think he can do that?
Sorry you had a bad experience with them. I’ve bought a few watches, and only ever regretted one. I bought a used 16014 from them, and it had box and papers, but also a service dial. Now Bob’s didn’t list anything about service history, but did allow you to buy an authenticity guaranty, which I did. It didn’t say anything about service parts. I didn’t even notice until a few days after getting it and wearing it, and.noticing that it had functional lume on the dial but not the hands. I then wore the watch for about a year before needing to get it serviced (as a wheel in the winding mechanism broke). Got it back from service, and then decided to sell it on (I bought an Aqua Terra while it was in service). When I contacted Bob’s about selling it back to them, they gave me a quote less than 50% of what I paid them for it a year before. I passed on that, and that interaction soured me a bit on the company.
In the UK we have a few companies like Bobs watches. Whatever the original price they give you, you can always guarantee they'll deduct money for a polish. Its another way of whipping cash off you. I think the original offer should factor all of that in but yeah its sales tactics.
Get a mechanic to inspect it. It's really easy to get burned on a car. Even if you can spot crash damage yourself, the shop will hook up the computer to their scanner which will tell you if there are any hidden codes.
I always get weirded out when selling an expensive item and having to ship it. I used to make custom knives. I had multiple knives "disappear" on the way to the customer. I have several old custom Emerson knives that I'd like to sell.....they just sit in my collection.....but the thought of shipping a $7k knife makes me not want to do it. I'd almost rather hand deliver it, regardless of where it's going, than risk it being "lost" during shipping. Oh, and I have the same car as you.....white 718 Cayman. Good taste LOL
Not cool.. Not cool at all! Kudos to you not accepting their selling tactics and standing up for yourself and paving way for other customers. Good luck Randy🇸🇪!
I'm in the Southern Califirnia area and was considering selli g/trading one of my watches to Bob's in person. Thanks for the heads up about how they seem to conduct business. I'll pass on them. Unfortunately, I think that's how all of these grey market dealers operate.
Sorry to hear your experience. But in my experience trying to consolidate and sell - take the lowest chrono24 offer you can find for your model. Take off 20% and you have a realistic price for which you can sell that watch relatively quickly (for non hype models) . C24 gives you a wrong idea of what the watches are worth. Remember they are listed for that price. Not sold for that price.
This is why I haven't sold a watch in the past 5 years. I'd love to offload a few, but I hear nothing but horror stories with just about every avenue. It all honestly makes meeting some random in a parking lot with a wad of cash seem like the safe option.
Anything of value, always send certified. Also, have them insured. This came in handy on my wifes wedding ring. Kay Jewelers sent it to Jared's to have the stone tightened up and re-size the band and they sent it with a bunch of other customers rings and they were "Lost" in the mail. Luckily we have an insurance policy through USAA which made us right on the value. I still think Kay's/Jared stole our ring and then "made us whole" by giving us a deal on another ring. A whole other story though
Here’s a small tip. Get your glasses adjusted. In this video you pushed them up 29 times. I tuned in for the topic and then got totally distracted. Maybe it’s a nervous habit. Good luck with your watches and your Porsche.
I don't know about never buying another watch again, but I will endorse never selling another watch again. Buying/selling luxury goods requires a presence in the marketplace other than just throwing yourself out there at the mercy of unknown middlemen. Youts is a not uncommon story.
Wow that sucks all around. As for mailing, I had the same thing happen to me at the post office. I dropped it in their overnight drop behind public access and my package still came up missing. I have made sure to get receipts as I drop the package. Mine was not as pricey as yours I'm glas because no dice on the insurance I paid for. Thaks for the great video.
Bob's will ding you for wear marks every time. In my experience, Federico at Delray Watch, Rob at Toppers, and David SW are honest and reliable folks. Good luck, and I hope this works out well for you 👍
I second Rob and David as well! I've personally also had great experiences buying and trading some Omegas, VCs and Rolexes with WatchBox (now 1916) - I found a great rep there who has been brutally honest with me about what she can buy and sell for - and I respect that.
Buy one of those small boat " foghorns in a can", sometimes used at sports events, and keep it by the phone along w/some noise cancelling headphones, that should get the message across when it's opened up
I think you made the right decision. They prob already have buyers or even sold them as is and were trying to low ball you as we all know watch dealers are some very dubious people. Not always but 90 percent. I’m sure you will get offers if you advertise locally. Hope you get it all sorted and get that car. Very nice Cayman btw. Goodluck mate.
Please keep us posted on the aftermath. Long shot but I hope Bob would actually post a comment in this video and offer a clear explanation. I've seen him on videos before - as the owner, he should offer a transparent answer to this situation. It's awful what they are doing.
I had a similar experience with a UK watch dealer. I sent my year old and immaculate Tudor Ranger to sell. They wanted £250! For a polish of the bracelet, which I declined. They put it up for sale at a high price and the only interest I got offered was £500 less than asking. I accepted as I wanted the money. But the company charged 20%! I knew this but it wasn’t bad if it had sold at their recommended price. I think trading watches is a bit of a game. I think Tudor watches are exceptionally well made but are equally boring. Which explains the poor resale value. I buy watches because I like them, not if it’s got an adjustable bracelet. Here’s looking at the Breitling Avenger in blue 42mm.
Sad to see you getting rid of your 75th anniversary Omega. I love mine and how it pops in the sun. Have several other more expensive Rolex watches but the Omega is still a favorite of mine especially in the Summer!
Good that you expose these people. My Omega Speedmaster was stolen when I had to sent it back to America for a repair. I had sent it registered and insured and it got stolen anyway. I am still gutted.
I was so turned off by the amount of scammers and extreme lowballers when trying to sell my 3861 Speedy completely turned me off to ever selling online again. I almost think taking the hit and just trading it into another store is worth the hassle. Perhaps they wore me down!
Great video. I appreciate your explanation and candor. Videos like this help a lot of people. so I've glad you had the motivation to put it in the universe. Not a good look for Bob.
I guess Bob isn't your uncle 🤷♂️? At my work, everything has to be in writing because phone calls are hard to prove versus if it's in writing. We typically always need something in writing, even if it's an email recap of our phone conversations. When there is a disagreement, it's hard to argue when it's in black n white. This may also be why they are trying to do it over the phone. Best of Luck!
I asked for a price to sell a 34 mm rolex at a local watch dealer, they offered me $1700 USD. I sold it for $4100. I asked for a offer from an Omega dealer for an annual calendar ,they offered me $2000 usd,I did not sell them the watch. we all learn the watch industry is a big scam, they are as bad as used car dealers. if you want to sell, get retail as close as you can.
Thanks for the feedback. Sounds like used car sales man tactics in my opinion. Hope things work out for you, keep us up to date on the watches. PS Might check into Watch store in California called “Paul’s Watches”, might buy them for better price. Has RU-vid videos just showing what they’re repairing and selling.
Hope you do a follow up to this video. Im sure there are a ton of us that use these same businesses so I know I for one would like to see how this plays out. I also cant believe you put the JC in the mail. Yikes man.....then double down with the Omega and Tudor....If something bad happens no watches or car. I don't have the stones big enough to risk that one....
The tpg one seems to be in ice since tugger got arrested by the feds a year ago. They could probably get a win on that but its kinda useless since tuggers on hook for 3 mil at least for the feds and fraud victims and who knows how many mil to the irs and he isn't getting out any time soon.
I sold a Longines on eBay with VERY minor wear on it some microscratches. Guy who received it said it was all scratched up. I said they must have came from the eBay authenticity person because I packed it well. eBay surprisingly sited with me. The buyer was pissed but idk what to tell him
That sucks. I think we will hear a lot of these types of stories not that all the hype has died down and people are buying them because it's truly a hobby and passion and all the people that looked at them as investments or another cash like asset will be paying the price.
Well, I'd broach legal remedy if you don't receive confirmation of their return. I'd also consider Small Claims and see if that's a potential as you can force them to send a rep and if they fail to show you automatically win. But I'd say you have an excellent case. Though as not a lawyer or specifically the legal rules etc. It's free to ask.
The offer they made you on the Omega was fair. Just because you see that watch listed for 5000 on chrono24 doesn’t mean it’s selling for that. They might have to take 4800 or less to move it in a reasonable time. Buying it for 3300 would give them a typical markup
It is a reasonable offer. If you want to sell the watch yourself of course you will make more money but how can Bobs make a profit if they don’t undercut the private sale price. Just a lot of complaints here to get some clicks.
I was shocked that he was “offended” by an offer of 50% of RRP for a used Omega. I like Omega but the downside of the brand is that if you pay retail then the watch loses a huge percentage of value the second you walk out of the store. The only thing I will grant him is the nickel and diming after you ship the watch is annoying. But the offer itself was fair. You can get more selling yourself on eBay if you are willing to deal with the risks, hassles, eBay fees, and time it takes to find a buyer.
I've purchased three times from grey dealers. All three times, I got the watch at roughly minimum Chrono24 price for an example with box and papers (like mine had). Greys will always take their cut and it makes sense, so getting a watch for under minimum Chrono24 price is next to impossible. If you offer to sell them your watch at close to that price, they'll tell you it's an unrealistic price. If you try to offer them under C24 price for a watch they have in stock, they'll tell you that you're paying them for their expertise or whatever else, and that there's no money to be made for them. They lowball the heck out of watch enthusiasts like us because they know that the market is slow, and that they might have to sit on our watches for a while. It sucks, but that's kinda the world we're in right now.
That wasn’t my point. I wasn’t expecting chrono24 money. I was expecting them not to try to get another $200 from me when they are going to make $1600 on the omega
@@cheapwatchman_official Don’t get me wrong, I’m completely with you on this. I was just trying to give a bit of my thoughts and experiences with grey dealers.
don't sell your watches with these kind of retailers. better to sell them to a private collector, all of these kind of businesses will unfortunately low ball you
Sad situation when watches got popular,a lot of bad people came out if the woodwork.Bought a watch from Europe through Etsy tracked it half way around the world with ni problems and got to Australia and "dissapeared".Two months later Etsy refunded my money,Thank you Etsy but royally pissed off as I really wanted that vintage piece probably never see another like it
The truth is that nothing is worth the price of a retail product. Even high end vendors balk at buying back product at retail prices. Buy things because you get joy from them. If they happen to hold their value - bonus! Most things don't. Although I do feel for you (seems you're getting played), you've got "rich man problems". Take it all in stride. Life's good. Enjoy!
Friend, I think very highly of you, and love & appreciate your vids. You can't incorrectly pronounce Porsche. It's a German name, and the e at the end gives it an "uh" sound.
I've had success (same situation with used photography equipment, not watches) cc'ing the Federal Trade Commission into the emails. The FTC doesn't jump at anything quickly, but bad business practices like stealing your watches can incur $10,000 fines pretty quickly. Right now, you're the little guy. The FTC can wipe them out in a day. You'll get your watches back rapidly.
"Bob's Watches". Sound so homey and local doesn't it? Like maybe Bob himself will answer the phone. Forget it. They're super large outfit will gobs of employees, and I am sure lots of algorithms in their computers.
I think this is a common practice with this dealers. I saw a video from a british channel and the guy sold his watch to a famous watch dealer and they also claimed that it was scratch even though the watch was basically new.
If you can come up with a place to sell things and the seller not get screwed you'll have enough money to keep your watches and buy any porsche you want. All these websites have turned into the seller is always at fault and the buyer can return for any reason. You hope it gets there safely and you hope someone isn't trying to cheat you every time. I've got watches I'd like to sell as well but I have no idea how to go about doing it safely without getting shafted.
I'll never be in the watch market you are...but are there brick-n-mortar buyers you could use for such expensive watches. I also wonder if your package was x-rayed and they saw a very nice watch inside or maybe opened the invoice?
So sorry this is happening to you ,I'm into hifi gear and have been for 30 yrs or so ,watches half that time I'm in England and have had problems in the past with postage and have lost money and goods with ebay advice to you is collection only and have a way to test the notes if cash is used be careful being paid by credit card because of charge back it can be a nightmare, funny thing I just bought the same brand and model watch as one you are selling. Good fortune with the car and your watches all the best from nottingham uk
Thanks for this. I always wondered about Bob's Watches. I would have thought they would be the last bastion for credibility. I have a 16700,14060 and was thinking of selling them for a 60s 5513 but I have a huge problem sending off several thousands of dollars watches in the mail though I'm wondering if my policy covers this. I still wont do it as I'm sure even having a vintage 5513, a year from now I'd have sellers remorse. Also, In the past few years I had been looking to sell my 99 Porsche 911 996 for a older vintage air cooled 911 which are significantly higher. Even though I early retired in 2019 at 53 with nothing more than what I saved, I'm grateful not to have been in a situation financially where I had to sell anything to buy it which I did before even selling my 996.
Hey Randy, nothing but nothing stands in the way of a man and his Porsche! Dude get in first; repossession of Bobs Porsche should even the score 😂 Seriously mate the world is dishonest, you need to only sell watches in person. Worth the trip.
What a rubbish situation. Sadly there seems to be a distinct lack of respect and honour in modern society in general. Gone are the days when a man was as good as his word and you could hammer out a deal. People will lie, cheat and steal for a few bucks.
UPS won't insure jewelry (this includes watches) over $500. In fact, I think the T&Cs say they will reject the package if the value is over that amount. Always send registered mail.
@@RichKovars that's not true UPS will insure a package up to $50K. The only reason I can think of to not insure it is that someone is a cheap risk taker.
Ummmm, what part of "Cheap Watch Man" even applies to these 4 watches in this video? 🙂 A C.W. even at $1000 is not a cheap watch. The three you had trouble with at Bob's, most definitely unobtanium for Cheap Watch Nerds. Especially the Rolex.
an actual legit business has to offer a LOT under the retail market value to make money on it and have buffer for it to lose value while they hold it and other risks with it + sales taxes. if a grey market diller offers you street retail money to hand then something is up and you may find that they're actually a male stripper cosplaying a watch diller (not a made up story)
You are unfair. Unfortunately Bob’s watches is legit. $100 is a decent price for a polishing. And if you were on their end, you would NOT pay more for watch in a sinking market. They are buying the watch, not putting it on consignment, meaning they hold all the risk.
