In my flurry of brilliant ideas on how to bring in extra income, I had the idea of flipping watches. I’ve recently divested myself of this idea as the market is saturated or requires too much risk (ie, I don’t have enough money right now).
When you look at eBay and Poshmark, and other reselling websites, they are full of men’s wristwatches selling for thousands and thousands of dollars. It is possible to buy and resell many of these watches. The first thing you need is a bit of knowledge. Not really knowledgeable about watches, but knowledgeable about how supply and demand work, and here is what I found. If you want to make money selling watches online you either need to be a watchmaker able to fix up dilapidated watches, have a lot of patience to purchase mid-tier watches on the secondary market and sell them for slightly more than you bought them, or have enough money to buy high demand and hard to find Rolexes and scalp them like they’re a Switch 2.
There is one final way, and that is to sell a course telling you everything I just told you in the above paragraph. Please send me a check for $240 for that secret I shared with you.
With all this knowledge in mind, I decided to look for online estate sales and government seizures, and I found some interesting finds. In my flurry of excitement at finding a Tag Heuer that looked a lot like one my father used to have, I put down a bid, and then I Googled the value of the watch, and then I set my max bid, and won the watch. With taxes, buyer’s premium, and shipping, it is going to cost me over $40,0, and the watch needs service. The same watch is selling online for between $1,000 and $5,000.
Once I have the watch serviced, do I keep it or flip it? It isn’t exactly what I was looking for to replace the Tag from my father’s collection, but it is close enough. It didn’t cost me nearly what a Tag should, but it is a quartz watch and not an automatic. However, it has value and replaces a missing piece from my collection. Plus, if I sold it, it would be the second Tag I lost, and I owe it to my father to put it back.
David Huzzard Writes 