Last year, I made 2 million dollars trading watches from the comfort of my own home (with zero employees, no physical storefront, and with just 4-6 hours of work per week).
With some of the profits, I treated myself to a $1.2 million dollar McLaren Senna (pictured below):
Pretty crazy, no?
If you told me 20 years ago that my passion for watches would help me own one of the sickest hypercars ever created, I would have told said “you’re out of your f*cking mind!”
20 years ago I had no idea the luxury watch market would grow to become what it is today.
Fast-forward to 2023, Bloomberg Business predicts the secondary watch trading market (aka pre-owned watches) will be worth a whopping $85 BILLION DOLLARS by 2033.
That’s even more incredible when you consider that just a few years ago (2019), it was only worth $1 billion. (It sits at $33 Billion today)
So what caused the luxury watch market to blow up “overnight?”
Short answer – Secondary watches became mainstream in 2020 due to the largest distribution of wealth globally (thanks to everything that happened with the pandemic, government payouts, crypto/stocks skyrocketing, and inflation).
Long answer – While demand for luxury watches like Rolex, Audemars Piguet, and Richard Mille surged over 500% in the past two years, these types of luxury watches have always been in high demand and low supply (dating back to 1999 when a used Rolex Daytona was worth more than a new one).
So, while it may seem like everyone is talking about how hard it is to buy the watch they want, or how all the boutiques are always sold out… it’s not a new phenomenon.
The recent rise in demand and price increases are only new to people who are new to the game.
As someone who has been trading watches for the last 20 years and has taught 20,000+ students how to build a successful watch trading business since 2014, I want to show you how anyone can get started today and build your own 6-or-7-figure business trading watches.
Whether you know nothing about watches, or you’re a luxury watch veteran who doesn’t know where to start when it comes to making money…
The article will provide you with all the information you need to start trading watches from the comfort of your own home.
But before we dive in please understand the following:
Not all watches are the same and buying watches to resell can result in significant financial losses, especially if you don’t know what you’re doing or purchase the wrong watches at the wrong prices. One of the biggest mistakes I see people make is they only go after watches they personally like. For example, you may have always wanted a Rolex Daytona with diamonds, but that doesn’t mean it’s profitable.
Like I always say: you need to love money more than you love watches to kill it in this game.
Once you start pulling in serious profits, you can buy whatever watch you want.
But until then, let’s keep your emotions out of this.
So here’s the truth…
With the right knowledge and proper application, anyone with as little as $1,500, access to a post office, and a computer or smartphone can multiply their money to $10,000 in less than 6 months (and potentially make over $10,000/month profit within 12 months).
I’m not talking out of my ass here.
This has been proven countless times with verified case studies and testimonials of my students starting from nothing and scaling to six figures and up.
However, learning how to trade watches requires discipline and an open mind.
This is not a get-rich-quick scheme so if you’re not willing to put in the work, please exit this page now.
So with all that out of the way, let’s dive in.
Budget Requirements To Trade Luxury Watches
While there are watches out there that cost tens of thousands of dollars, luckily you don’t need anywhere near that amount to get started with watch trading today.
You actually DON’T need a big budget to get started.
In fact, all you need is $1,500 to buy your first watch.
Unlike most other businesses, starting capital is not a prohibitive requirement in the watch trading world.
More capital always helps but if you’re just starting out, it’s actually better to start out with lower-end watches to get your feet wet and learn how the watch trading process works.
Once you get a few trades under your belt, you can quickly move up and start trading more expensive watches.
The last thing you need to do is blow $25,000 on your very first watch only to get scammed or sell the watch at a loss.
Start small, learn the game, and build your way up.
Watch trading is a progressive game and if you want to make serious money, slow is fast.
Watch Trading 101: How The Entire Process Works
If I had to give you a “bar napkin” explanation of watch trading, it would boil down to this:
- Buy the right watch at the right price
- Create a 10% to 20% margin
- Resell for profit
I know, I know…
It sounds so simple.
And for the most part, it is.
No, it’s not as easy as buy low, sell high.
But this isn’t rocket science either.
To be successful with watch trading you need to approach the market with a tactical mindset, similar to how you would in the stock or real estate market.
If you want to become successful in watch trading, you must understand these 3 critical factors:
1) How To Avoid Buying A Fake Watch
Many people entering the luxury watch industry are scared of getting scammed or buying a fake.
And you know what?
I don’t blame them.
It’s true, there are A LOT of scams in the industry.
But luckily almost all of them can be avoided if you follow my golden rule of “buying the seller.”
“Buying the seller” has been my north star for the past 20 years which has allowed me to buy and sell thousands of watches without ever buying a fake.
Reputation is everything in this industry, and by buying from reputable sellers, you won’t ever have to worry about buying a fake.
Of course, by following this rule and only buying from established sellers, you risk skipping over some solid deals, but the peace of mind you get from that is well worth it.
2) Understanding Which Brands To Buy
Some people suggest only buying prestigious brands like Rolex and Patek.
Sure these are high-demand watches, but if you only focus on brands like Rolex, you’re leaving so much money on the table.
Plus Rolexes are notorious for being associated with fakes and scams.
And some of today’s fake Rolexes are so good, even seasoned jewelers can’t tell them apart from real ones.
But if you’re just starting out, you can make a FORTUNE with lower-end brands like Ulysse Nardin, Omega, Breitling, Hublot, and Cartier.
Here’s one of my students who made $650 profit on a $1,550 Breitling watch:
These lower-end brands are less risky than Rolex, which are based on market values which can fluctuate wildly.
Brands like Breitling and Hublot allow time to be in YOUR favor because their values are stable, meaning you don’t have to sell them quickly and risk the market catching up to ruin your margin.
Plus there are far fewer fakes and replicas being sold of lower-end brands.
I have students who don’t even touch Rolexes but still make over 6 figures per year in profits.
3) Buying Close to “BCV”` (Bottom Cash Value)
Almost no one else talks about BCV (bottom cash value), but if I had to say there was ever a “secret sauce” to watch trading, this is it.
There are two types of watches to trade: market value watches (like Rolex and Patek) and BCV watches.
BCV is a formula I created to determine the lowest possible value of a piece of jewelry by jewelers for over 50 years now.
Most manufacturers have their own BCV value calculation, and this is important to understand because it can help you avoid overpaying for a watch.
As a golden rule, you should buy as close to BCV as possible for all your watches.
For example, if Cartier trades at a BCV of 30 cents on the dollar, a $20,000 watch will have a BCV of $6,000.
This means if you need to dump that watch for any reason, you can walk into any jeweler in the world and recoup $6,000 cash immediately.
So remember, when you buy a watch with BCV in mind, you never lose 100% of your money even if you buy a watch at the wrong price.
You can almost always immediately recoup a portion of your money back.
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So now that you’ve learned the 3 key factors to successful watch trading, you’re probably wondering:
Where Do I Actually Buy And Sell Luxury Watches For Profit?
Over the past 5 years, social media has become a powerhouse to help people sell their luxury watches.
Facebook, Instagram, Twitter, and even Tiktok are being leveraged to help watch traders move their watches.
And platforms like Chrono24 and eBay have specifically updated their platforms to cater to watch traders as luxury watches become more popular.
There are even dedicated auction sites, like Grailzee.com, for luxury watches.
Approximately 70% of all retail sales occur on these platforms (the rest can be attributed to organic social media and wholesale watch groups online).
While more sites and platforms may be created in the future, trusted platforms like Chrono24, eBay, and Grailzee.com are your best bet when trying to buy and sell watches.
Crafting The Perfect Watch Listing
While the platform where you list your watch for sale is important, having a well-crafted listing is just as important.
In fact, a well-thought-out listing will often help you sell your watch 10x faster (even if you price it higher than competitors).
So take this seriously.
Don’t just copy-paste the same crap everyone else uses for their listings.
Put some real effort into it.
It’ll be the difference between you selling your watch for $500 profit or $2,000 profit.
Often, a listing won’t sell because of the seller’s lack of effort, crappy pics, or boring description.
To sell quickly, it’s crucial to have clear and detailed photos without a distracting background, as well as a clear description that includes the right keywords to help buyers find your watch when they search for it.
You can use your iPhone or Android to take the photos, but be careful not to overcompensate and use too many filters (buyers can sniff out heavily filtered pics from a mile away).
I prefer to take my pictures in natural daylight, with my back to the sun at an angle that doesn’t cause much glare on the crystal of the watch while still highlighting all the details.
Once buyers take notice of your listing, negotiations start.
How To Negotiate With Buyers
There are only two types of buyers: low-ballers and serious buyers.
Low-ballers are exactly what they sound like – they’re time wasters and are people either trolling you or hoping that you’re desperate enough to dump your watch at a crazy discount.
Ignore these people at all costs.
Serious buyers are the ones that come to you and make you an offer within 20% of your asking price.
For example, if you list your watch at $5,000, you’ll know the buyer is at least somewhat serious if they make any offer that’s $4,000 and up.
Anything below $4,000 is a waste of time.
The beauty of watch trading is that you don’t have to convince others to want your product.
You just need to make it easy and fair to buy. The best way to successful negotiations is to know what your competitors are listing on the market.
And if your price is fair, I always recommend sticking your ground.
The right buyer will always come around.
How To Safely Ship Your Luxury Watch
Shipping your watch can be a challenge, as normal carriers like Fedex, UPS, and USPS don’t allow you to ship high-value jewelry.
Most watch traders use a service called Parcel Pro, which lets you to use overnight UPS but provides insurance through a third-party carrier.
So if you’re just getting started and not a part of Watch Trading Academy, just stick with Parcel Pro for now.
Just make sure your packages are well packaged, take photos before shipping, and note the serial number of the watch being shipped.
Side Note: There’s a shipping service that’s even better (and cheaper) than Parcel Pro that my students and myself have been for years now. However, this is an exclusive shipping partner available only to Watch Trading Academy members. If you want free access to this exclusive shipping partner, I recommend joining Watch Trading Academy today.
The Scaling Methodology – How To Grow To 6 Figures And Beyond ASAP
So let’s say you’re starting from scratch with nothing but a $1,500 budget for your first watch.
If you only have $1,500 to start, it will take you about 14 days on average to earn 20% profit (on average) on each watch.
This means that you can expect to add 20% to your $1,500 every 14 days.
In 60 days, you’ll go from $1,500 to $3,100 and have the potential to make an extra $2,000 over the next 30 days.
That’s the power of compounding your money.
And the results come fast!
The goal is to get to $10,000 in 6 months.
Once you have $10,000, you can start making $2,000 profit every 5 days!
With just 5 deals a month, you can reach $10,000 per month PROFIT.
That’s why I love this industry.
It’s infinitely scalable and you don’t have to do 50+ deals per month and work 80 hours per week to make killer money.
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Want A Step-By-Step Blueprint To Learn The Art Of Watch Trading?
So there you have it, a complete breakdown of what it takes to start making money with luxury watches.
The luxury watch industry has grown significantly over the past few years and is expected to keep growing well past 2030.
You have plenty of time to sharpen your skills and be a part of this lucrative, underground asset class.
And another big side benefit of trading luxury watches is that the type of people who buy luxury watches are almost always high net-worth individuals, making watches relatively immune to economic recessions.
So what are you waiting for?
It’s time to take action.
If you want to learn how to start flipping and investing in luxury watches for huge profits, then I invite you to join the Watch Trading Academy.
This is hands down the most comprehensive, step-by-step program online that helps anyone start their own profitable watch trading business.
Not only do you get our detailed step-by-step training, but you’ll also get access to our exclusive members-only community to network with and ask questions 24/7.
I created Watch Trading Academy to be as “idiot-proof” as possible.
You don’t need any prior knowledge of luxury watches.
You don’t need to know how a watch works.
You don’t need to worry about buying fakes or getting scammed.
And you don’t need to worry about figuring out what the best price to buy and sell at is.
Everything and so much more is covered step-by-step inside Watch Trading Academy.
Whether you join or not, I hope you at least begin to explore this exciting “hobby-turned-business” to grow your income and transform your financial future with luxury watches.
See you on the other side!