Sometimes I don't understand ...

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Fost

·Apr 14, 2015

Hello Everybody

Just to share with you the story of my Ed White. Maybe some of you have shown that i put in the sales corner my ed white Speedmaster few weeks ago.

https://omegaforums.net/threads/sold-omega-speedmaster-105003-63-tropical-brown-dial.22725/


I received several offers but fairly I didn't agree with the offers i had. Roughly around 4600-4800 dollars, which was I believed under estimated for this one (personal opinion). Anyway, I decided to use a business trip to San Francisco and visit a famous watch dealer. We agreed for a trade (without any negotiation) for value of 5500 dollars (witch was more than my last price on the sale corner here...).

The day after, I looked at the website of this watch dealer and saw my speedy for sale at 7800 dollars 😲
I know that prices on their website are higher that the final sale price, but I was quite surprise to see such price !!
And more surprised to see that few hours later the watch was already sold!

http://www.hqmilton.com/watches/1963-omega-speedmaster-ed-white-105.003-pre-moon-321

I do not complain and I am very happy with the trade, but I don't understand such difference of price. Or maybe I made something wrong with my sale here....or maybe pictures are the key (I agree that pics on their website are really nice)...I am sure that final price was lower than 7800 dollars (I hope), but I am still trying to understand how it is possible....

 

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kyle L

·Apr 14, 2015·Grasshopper

I'd say pictures and the fact that Hqmilton is a well known dealer.

 

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AAAKK

·Apr 14, 2015

I think it is because some buyers simply willing to pay a premium for a watch that comes from a reputable dealer and is therefore relatively worry free. They simply don't have the time and/or interest to gain the deeper knowledge, and therefore confidence, to buy private. I think it has very little to do with how you presented the watch. HQ Milton has an established client base that will pay this premium over private sales.

 

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dsio

·Apr 14, 2015·Ash @ ΩF

There are a lot that market up far more, on several occasions I've taken a gamble buying something hoping it was going to be good based on bad photos and a decent price and received a turd, I can't and wouldn't get rid of one of such turds here so offload it on one of two dealers in Australia. One that I sold a redialed gold-cap piepan to (fully disclosing to him what it was) took it off my hands at the 500 I paid for it and had it listed for 2400 before it sold a week later.

 

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Fost

·Apr 14, 2015

I agree and i understand, but i was not thinking that people will be able to go so high (2k+ dollars) just because it comes from a watch dealer.
I think the watch stayed less than 2 hours on the website....maybe someone was waiting for a long time...

 

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Event horizon

·Apr 14, 2015

AAAKK

I think it is because some buyers simply willing to pay a premium for a watch that comes from a reputable dealer and is therefore relatively worry free. They simply don't have the time and/or interest to gain the deeper knowledge, and therefore confidence, to buy private. I think it has very little to do with how you presented the watch. HQ Milton has an established client base that will pay this premium over private sales.

I was writing this word for word so I will just quote him instead.

 

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Eric_navi

·Apr 14, 2015

Remember that watch dealers have established networks of buyers that extend far beyond our collector forums.

In most cases, the people you sell to on the Forums are generally very knowledgeable and are willing to pay a fair "collector price" for your watch, but nothing more. The majority of us would not just waltz into HQ Milton and pay their price for a piece, unless it were hopelessly rare. I would bet most collectors reading this can relate to a recent trip to a vintage watch shop when they laughed (internally) at the prices, thinking, "I would never pay that"...

Conversely, the people who purchase from HQ Milton regularly do not peruse our forums. They do not buy often from private collectors. They are willing to pay the premium to have someone else, whom they trust, tell them the piece is correct, establish its authenticity, and make the transaction as easy and safe as possible.

Perhaps the buyer has recently come across your for-sale posting on OF? and he is equally as upset that he could have saved couple thousand bucks had he discovered this forum first? (although I seriously doubt it)

Eric

 

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Fost

·Apr 14, 2015

By the way, I recommend HQMilton and all the guys working there. It was just a dream during one hour and half for me...watches everywhere and some very nice one 😀

And I sold the watch for a price that I considered honest for me and the buyer...so double happy...😀 😀

 

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E-diddy

·Apr 14, 2015

I have to admit i didn't see your posting. I would rather buy from a fellow member (all things being equal) because of the mark-up that you have pointed it. I've bought from HQ before; I like them but know their watches carry a premium. I agree with others -- HQ is well-known and i think people are more comfortable buying from them vs. buying from an individual. That comfort comes with a price we are willing to accept.

 

U

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ulackfocus

·Apr 14, 2015

So let me get this straight.....

[sarcasm] You're surprised that a watch dealer did a transaction and made money in the deal?

HOLY FECKEN SHEE-YAT! WHAT A BUSINESS CONCEPT: MAKE A PROFIT! [/sarcasm]

🙄

Okay, Captain Obvious is done his semi-rant. We now return you to your normally scheduled threads.

 

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michaelmc

·Apr 14, 2015

+1, Scott and Jacek are nice people who have always treated me fairly as well.

 

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Fost

·Apr 14, 2015

@ulackfocus ; not really, my surprise was more about the price range and how quick the watch was sold...
Everybody here has a good idea of the market price for this reference, i was just sharing my surpise about it and got the answers of my questions 😀
thansk all

 

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MSNWatch

·Apr 14, 2015·Vintage Omega Aficionado

That mark-up is relatively modest. Many years ago when I was in NYC a lot more and had no interest in watches, I managed to attend several Christies/Sothebys auctions of Asian antiques - had some interest in Japanese ceramics and dolls. I observed some nice pieces bought by a well known dealer who subsequently listed them for sale at a 300-400% mark-up and they sold quite readily.

 

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bazamu

·Apr 14, 2015

I cracked a smile when I saw that HQM described the markers as "earthy."

 

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Fost

·Apr 14, 2015

michaelmc

+1, Scott and Jacek are nice people who have always treated me fairly as well.

😀 telll me more about your avatar....it looks like a blue dial or am I too tired?...

 

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calalum

·Apr 14, 2015

You sold the watch to them or traded and got that amount as trade value? If the latter, did you trade against something that they had priced at their potentially inflated value? If so, the relative dollars may have been equivalent on the whole (or maybe even worse) than your potential direct sale.

 

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Nobel Prize

·Apr 14, 2015

tis the bness of doing bnesss!!

 

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E-diddy

·Apr 14, 2015

calalum

You sold the watch to them or traded and got that amount as trade value? If the latter, did you trade against something that they had priced at their potentially inflated value? If so, the relative dollars may have been equivalent on the whole (or maybe even worse) than your potential direct sale.

Good question. If trade, what did you get? 🍿

 

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Nobel Prize

·Apr 14, 2015

This may hurt!!

or maybe it won't

But whatever it is it is for sure HQ approved!

 

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Fost

·Apr 14, 2015

HQMilton guys were fair enough to adjust their prices for the trade.

I got this one which i was looking for ( see my first for sale post here)
Rolex datejust 1601 / silver dial in jubilee

HQMilton price was : 2800 dollars
Market price : 2200 dollars (Maybe more, it is a really nice one)

And this one which is for me the ´cash' part of the deal as i decided to sale my Speedy due to cash issue and this one is currently for sale here :

Rolex 16570 , full tritium w serial

HQMilton price :4350 dollars
Market price : 3300 dollars (i guess)

So i think the deal was fair for 5500 dollars :