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Are marketplace commissions still justified today?

Watchprompt
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Hi everyone,


I've been thinking about the high commissions that many online marketplaces charge, often quite significant, and whether they're still justified by the service they actually provide. Personally, I don't use them.


I get the convenience and reach they offer, but it makes me wonder: are we paying for real added value, or just relying on habit and visibility?


From a buyer’s point of view, have you ever passed on a watch online simply because you couldn’t try it on, and instead leaned toward something local, even if it wasn’t your first choice?


I also feel like there’s a wide and often hidden inventory sitting all over the place, especially in big cities - pieces that never even get listed anywhere. If there were a better way to surface that local inventory and connect buyers and sellers directly, perhaps we wouldn’t need traditional marketplaces so much.


Curious to hear your thoughts:


  • Are those commissions still worth it?
  • Is there a better way to discover what's already out there, nearby?
 
Mark020
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Watchprompt Watchprompt
many online marketplaces
Which are you talking about? Ebay and?
 
theluckyluke
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A few thoughts:

pieces that never even get listed anywhere

To me the most annoying thing, as a buyer, is rather pieces that sit unsold for months or years.

On commissions, I think the perception will vary between buyer and seller, the extend of the commissions and what they cover.

I am quite fond of commissions that enable some shipping guarantees, as a buyer, to ensure the watch arrives and corresponds to the listing. This works well on Tradera, eBay and a few other apps I think.

For the seller, I can see that being generally a lot less attractive, as you run the risk of having a dodgy buyer and some platforms will generally rule in favour of the buyer if there is a problem.

For other platforms, like Chrono24 etc. I would be happy to deal outside of the platform IF the seller has a reputable track record (known reseller, etc.). For these platforms, you are also certainly paying for visibility and some features of the app (tracking prices, whatever).

Local apps are trickier. Some seem to be working great, with a good amount of protection. Others are only used to put people in relation and the transaction will almost always happen outside, for various reasons specific to the app, the payment method and guarantees. So there is a higher risk appetite there, if local pick up isn’t possible. Which in my case has been preventing several purchases.
 
Watchprompt
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theluckyluke theluckyluke
A few thoughts:



To me the most annoying thing, as a buyer, is rather pieces that sit unsold for months or years.

On commissions, I think the perception will vary between buyer and seller, the extend of the commissions and what they cover.

I am quite fond of commissions that enable some shipping guarantees, as a buyer, to ensure the watch arrives and corresponds to the listing. This works well on Tradera, eBay and a few other apps I think.

For the seller, I can see that being generally a lot less attractive, as you run the risk of having a dodgy buyer and some platforms will generally rule in favour of the buyer if there is a problem.

For other platforms, like Chrono24 etc. I would be happy to deal outside of the platform IF the seller has a reputable track record (known reseller, etc.). For these platforms, you are also certainly paying for visibility and some features of the app (tracking prices, whatever).

Local apps are trickier. Some seem to be working great, with a good amount of protection. Others are only used to put people in relation and the transaction will almost always happen outside, for various reasons specific to the app, the payment method and guarantees. So there is a higher risk appetite there, if local pick up isn’t possible. Which in my case has been preventing several purchases.
Thanks, that’s super insightful. Your point about “risk appetite” when the transaction happens off-platform is exactly the kind of nuance I’m trying to understand better.

What I’m exploring is whether there’s a middle ground : something between a basic WTB/WTS listing and a full-fledged marketplace, where discovery is enhanced, and trust is supported (via verifications, references, etc.), without needing to manage the transaction directly.
Of course, the counterpart to that approach is no commission fees, which could be meaningful, especially for sellers, but also for buyers willing to do a bit more vetting themselves.

I sense you might have mixed feelings about that kind of approach, and I’d love to know if that’s a fair reading.

Also curious: which local apps have worked better for you, and what made them feel safer or more usable in your experience?
 
Foo2rama
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Give an example of a service you are referring to.
 
Davidt
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Isn’t the no commision approach where buyers do their own vetting simply the sales forum on OF?
 
STANDY
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Watchprompt Watchprompt
Hi everyone,





Curious to hear your thoughts:


  • Are those commissions still worth it?
  • Is there a better way to discover what's already out there, nearby?






1) Never been a watch I have looked at that needed a middle man to squeeze a commission out of me. (Time poor people pay commission)

2) There is plenty of inventory that is never listed that finds its way to buyers. Half of my watches come from PMs of watches that have never been listed. (A case of another collector wants to sell a few to make way for a new incoming watch)


Bits of advise
1) The deeper in this game you get the more connections you have and that can open some doors.

2) Next time you are buying a watch from someone don’t be scared to ask what else they have for sale.
 
Watchprompt
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Foo2rama Foo2rama
Give an example of a service you are referring to.
What I’ve been thinking about is finding a way to make the “quiet watch market” a bit more fluid. The space where buyers sit on the sidelines because they can’t try something on, and owners who might sell don’t bother because of scam worries or because they’re not keen on dropping the price just to move it. Often, there’s someone out there willing to pay fair value… they just never connect.

The idea wouldn’t be to replace anything, but to lean on what already exists (OF, Reddit, eBay, Chrono24, etc.) and add a free, unified “discovery layer” over them. Something as simple as a small token or marker in a listing or message could link a seller’s presence across platforms, making it easier to verify and build trust. In theory, it could make deals easier to close and keep more money in collectors’ pockets.
 
Watchprompt
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Davidt Davidt
Isn’t the no commision approach where buyers do their own vetting simply the sales forum on OF?
True. I’m just thinking about taking that same trust-based, no-commission approach to the next level so it connects across platforms and makes it easier for newcomers to find their way into the community.
 
Davidt
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I’ve got to say, I’m not sure specifically what you’re suggesting.
Is it an aggregator site that pulls private sales from various forums like watchrecon?

What is a ‘discovery marker’ how would that work?
 
Watchprompt
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Davidt Davidt
I’ve got to say, I’m not sure specifically what you’re suggesting.
Is it an aggregator site that pulls private sales from various forums like watchrecon?

What is a ‘discovery marker’ how would that work?
Not an aggregator but a free listing platform for sellers. Buyers can save natural-language “wishes” (e.g. “I’m looking for a 2010 Speedmaster with tritium dial”), and when there’s a match with a listed watch, the seller gets notified and can message the buyer internally. Sellers can link to public profiles with transaction history (e.g. OF) to build trust, and cryptographic verification can confirm those links. Think of it as a tier-of-trust system, not just a classifieds board. I’m working on it now and still figuring out the sweet spot between rock-solid security and not making it a pain to use.
 
Davidt
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Fair enough. So it sounds like a build on something like watchrecon which uses block chain and AI to match buyers with sellers.
Again, unless I’m mistaken, the platform wouldn’t actually be doing the seller verification, but providing buyers with easy access to sellers history to allow them to make an informed judgement on the sellers more easily than they currently can?
 
Watchprompt
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Davidt Davidt
Fair enough. So it sounds like a build on something like watchrecon which uses block chain and AI to match buyers with sellers.
Again, unless I’m mistaken, the platform wouldn’t actually be doing the seller verification, but providing buyers with easy access to sellers history to allow them to make an informed judgement on the sellers more easily than they currently can?
That’s correct: the platform itself doesn’t “verify” sellers identity, it simply securely links their public profiles (e.g. OF, transaction records), so buyers can quickly assess their track record.

The hope is to eventually bring a large supply together with a highly accurate matching engine, while keeping scammers away and reducing average transaction costs.

What do you think of that approach?
 
Davidt
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I’m probably not your target audience as I already have a large network of collectors I buy from and I really like buying via eBay.

I think it has potential but I keep coming back to, what does it offer that something the OF sales platform doesn’t? Here you can search a sellers ID and see their feedback to judge whether you’re happy to wire them money. You can also post a wtb ad.
 
Watchprompt
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Davidt Davidt
I’m probably not your target audience as I already have a large network of collectors I buy from and I really like buying via eBay.

I think it has potential but I keep coming back to, what does it offer that something the OF sales platform doesn’t? Here you can search a sellers ID and see their feedback to judge whether you’re happy to wire them money. You can also post a wtb ad.
You can see it as a way to promote your watch outside the forum without paying marketplace fees. And as a buyer, if you don’t know where to search or who to trust (I understand it's not your case), and don’t want to spend too much time scrolling, you just drop a wish that is visible to everyone, not just forum members. The matching engine then does the legwork,
 
STANDY
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Watchprompt Watchprompt
You can see it as a way to promote your watch outside the forum without paying marketplace fees. And as a buyer, if you don’t know where to search or who to trust (I understand it's not your case), and don’t want to spend too much time scrolling, you just drop a wish that is visible to everyone, not just forum members. The matching engine then does the legwork,
The bigger the “drop a wish that is visible to everyone” is not going to be as safe as you think or want.

Even here the WTB forum attracts the scammers more than anything.

I myself would want a smaller pool of trusted members viewing a For Sale listing than every man and his dog on the internet.

Can see what your goal is but research already does what your talking about by just Googling 😉

Collectors that want to sell the occasional watch like most here are different to the pseudo dealers that want to make money on watches. We have seen many members become pseudo dealers here and have been banned for unscrupulous activities. I have seen good people turn once the money becomes the motivation more than the enjoyment.

((PS I broke Watchrecon))
IMG_8562.webp
Edited:
 
Davidt
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I dunno, there may be a market for such a site but;
1. It will stall or fall based on its mistakes/scams. How will you deal with hacked accounts of sellers with a previously good history and what checked will prevents someone using bots or manually creating a fake, positive selling history?

2. How will you market this? Presumably it will be of most benefit to new collectors or individuals who are seeking one or two vintage watches. How will they find you?

Fair play for trying this and it could be successful but the devil as always is in the detail.
 
Watchprompt
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STANDY STANDY
The bigger the “drop a wish that is visible to everyone” is not going to be as safe as you think or want.

Even here the WTB forum attracts the scammers more than anything.

I myself would want a smaller pool of trusted members viewing a For Sale listing than every man and his dog on the internet.

Can see what your goal is but research already does what your talking about by just Googling 😉

Collectors that want to sell the occasional watch like most here are different to the pseudo dealers that want to make money on watches. We have seen many members become pseudo dealers here and have been banned for unscrupulous activities. I have seen good people turn once the money becomes the motivation more than the enjoyment.

((PS I broke Watchrecon))
IMG_8562.webp
I’m not pretending this would solve every problem. Scammers will always try to find a way in, but my aim is to focus on a few specific issues.

From my experience, Google is showing fewer and fewer watch listings in organic results unless it’s paid ads, and those ads mostly come from big retailers or marketplaces paying heavily for placement. That cost ultimately feeds into higher prices for the buyer.

WatchRecon is great, but it’s still a search engine. If someone lists the same watch multiple times, it shows up more, which can be misleading. The matching approach I’m thinking of works differently: you don’t browse endless listings. Instead, you record either a “wish” or a watch you want to sell, and the seller gets notified only if there’s a match. That way, relisting the same watch over and over just spams the seller, not the buyer.
It won’t replace smaller trusted pools for those who prefer them, but it could help connect the dots in a way that’s harder to game and less driven by paid visibility.
 
Foo2rama
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Watchprompt Watchprompt
I’m not pretending this would solve every problem. Scammers will always try to find a way in, but my aim is to focus on a few specific issues.

From my experience, Google is showing fewer and fewer watch listings in organic results unless it’s paid ads, and those ads mostly come from big retailers or marketplaces paying heavily for placement. That cost ultimately feeds into higher prices for the buyer.

WatchRecon is great, but it’s still a search engine. If someone lists the same watch multiple times, it shows up more, which can be misleading. The matching approach I’m thinking of works differently: you don’t browse endless listings. Instead, you record either a “wish” or a watch you want to sell, and the seller gets notified only if there’s a match. That way, relisting the same watch over and over just spams the seller, not the buyer.
It won’t replace smaller trusted pools for those who prefer them, but it could help connect the dots in a way that’s harder to game and less driven by paid visibility.
Who pays for it?
 
Watchprompt
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Davidt Davidt
I dunno, there may be a market for such a site but;
1. It will stall or fall based on its mistakes/scams. How will you deal with hacked accounts of sellers with a previously good history and what checked will prevents someone using bots or manually creating a fake, positive selling history?

2. How will you market this? Presumably it will be of most benefit to new collectors or individuals who are seeking one or two vintage watches. How will they find you?

Fair play for trying this and it could be successful but the devil as always is in the detail.
We can all agree as watch collectors that the devil is always in the details.

You raise excellent points, and they really hit the core of the challenges that need to be tackled. On authentication, there are several channels to leverage: the WatchPrompt platform acting as a tier of trust, cross-checking through forums, and emails. Combine that with a private key only known to the original account owner, and there should be a pretty safe way to avoid scams. Still working out the fine print on that part.

Point 2 is just as key. My hope is to start with a small, niche audience and grow through word-of-mouth. Over time, professional sellers might want to join too, which could be handled via premium subscriptions. But that’s probably a conversation for later.
 
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