RAIDED! Watch Dealer Reacts to Police NCA Seizure Involving Trader of Rolex & Richard Mille
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- เผยแพร่เมื่อ 5 ก.พ. 2025
- Disclaimer: No reference or indirect implication has been made toward any entity in this video whatsoever and nor will we reveal or comment on any individuals. Purpose of this video is consumer advice regarding the luxury watch consignment process. The facts as presented are taken from National Newspaper reports already published and in the public domain. Comments made make no accusations concerning any other party and it must be stressed that reports are 'alleged'.
Alarming headlines concerning the secondary watch market and throwing into question the security of the entire watch consignment process. Consignment has grown in prevalence sharply during 2022 with dealers looking to minimise risk and hedge themselves against price volatility, selling watches on behalf of clients and taking a commission rather than investing themselves. What does news like this mean for the future of consignment of Rolex watches in future? And can the grey market clean up its image?
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You seem the only grey dealer delivering honest facts and appraisals. Everyone else is still living in lala land.
We keep an eye on this shady bunch too
Vinny, can you please do a market update and predictions. I believe prices will go back up after Baselworld. What do you think will likely happen with the daytona models?
Hey, yes sure! many upcoming vids already planned and next week a completely new and transparent series concerning market prices will launch. It’s been in the works for a while!
Just surprised that it took so long for the NCA to get involved in cases like this.
Vinny, a buyer/seller/consignee must always know the entity you are dealing with first and foremost. Now that market prices are resetting lower, I am concerned that the Grey market wants consignment pieces at higher prices then the grey marketeer’s own inventory so they can sell their own watches faster. Have you noticed this recent grey market practice yourself?
Hi Danny, to be honest I wouldn’t say so. Of course one thing to mention is that you should ask a potential consignor if they have duplicate inventory already held then of course it’s natural to assume that emphasis may be placed on inventory owned but in term of differing prices the only difference I can see is that if more inventory available were owned rather than consigned then dealer would not be so quick to drop prices. I believe this has added fuel to the fire last year, if you look at the car industry prices have held relatively firm and high due to most dealers owning stock
Vinnys voice and tone does not match his face. He looks like hes 12 and sounds 55
Hahaha wise but young, i’ll take that! I’m 27 by the way👍
Or it will be more volitile as owners will sell using platforms like crono 24 to get to Max out of their watch.
Hey, I won’t lie but Chrono 24 is dying a death during these volatile price movements, hardly any of our inventory sells on there anymore purely due to their huge 6.5% fees, meaning watch prices are too high on there and no one is paying them anymore. So if chrono do not ditch their ‘one glove fits all’ 6.5% fee model for a watch that is 1k or a watch that is 300k then they will, and already are, dying.
@@vinnyfranciswatches I know most watches are over priced on crono 24 didn't know about the 6.5 % for private seller sounds OK but for repeat business sounds too high. I'm keeping an eye as the prices come down as I want the tudor Pepsi GMT or two tone GMT and a BB 58. Any other places you recommend to look?
@@danielthompson803 Not sure what youre waiting for, Tudors arent exactl hard to get so the premium you would be paying is minimal already, if theres any. You want these watches for half price? GL with that
@@rogerstrough3586 lol I've never spent more than I have to for anything and the watch market isn't going anywhere for the moment, I'll wait till I get the watches I want at the right price which have dropped 500 dollars in the last month.
@@danielthompson803 Youre talking about low demand watches at a pretty low retail. Believe me, it wont get any cheaper than that. Same goes for Omega, not hard to get either but second hand the market wont move much anymore. Tudors were never trading much about retail or am I wrong?