Exposed: The High-Stakes Lies of Grey Market Watch Dealers!

Venture into the shadowy corridors of the luxury watch market with us as we unravel the tapestry of opulence that hides a world of deception. In today's deep dive, we're not just talking numbers-we're revealing stories. From the astonishing lifestyle of a market mogul who overplayed his hand to the undulating trends that spell out a cautionary tale for every investor and enthusiast, this video is an expedition through the highs and lows of an industry shrouded in allure and controversy.
Join us as we dissect the grand illusion of success sold by the grey market and uncover the stark realities of a business where glitter often blinds the gullible. Was it all just a house of cards waiting to crumble? What can the downfall of a luxury empire teach us about the volatile dance of supply and demand?
We're peeling back the layers on the biggest lies told by grey market dealers and exploring what it really means for the future of luxury watches. The market has spoken, the numbers are in, but what they say might just challenge everything you thought you knew about the world of high-end timepieces.
So, set your watches, because it's time to investigate the ticking truth behind the glamour. Can you handle what the hands of time are ready to disclose? Watch now and join the conversation.

[@DWilliam1]

I’ve been collecting for over 35 years and watches were never made to be an investment. Used watches should cost less than new watches(except in rare cases) and most of this is now being corrected…as it should.

[@ChampDietingAndFitness]

I don't agree at all that used watches should cost less than new watches because if something isn't in production anymore the value should actually go up depending on how many were made and how popular it is. Trends probably effect your market more than anything. Just because something is new doesn't mean it will be popular so what value would it really have just being new. I dont think people buy luxury watches for mechanical reasons per say. I think people mostly just want to flex the best / most popular style of watch. If someone sets a trend for an older rolex I can easily see it going up in value over a new Rolex that might not be so popular yet. Tbh though I don't know shit about this market so I'm kinda an outsider looking in. Iv'e done very small research into Rolex's which is why I stumbled across this video : P

[@vinestreet4031]

We need more content made by people like you on the internet. Thank you.

[@mywatchjourney6579]

Thank you!

[@kennethg9277]

4:48 - My favourite section of the video, including the immortal line "the more the flex, the more I distrust you." If only more people understood and internalized the simple truth of this declaration, we might be on the way to a market of ACTUALLY rational consumers. I don't believe it'll ever happen, but it'd be nice.

[@leonk8113]

This is truly the best video on this subject. You nailed it on the head for every single point you make. You and Vinny UK are the best out there in the watch space.

[@mywatchjourney6579]

I like Vinny too.

[@michaelh8275]

Hang on... An independent watch business.... Dad, the watch maker / fixer... Vegas!! I want to know more... Keep up the good work

[@jmann2977]

Thank you for sharing the story of your father's business - it was very inspiring. I'm sure it served as a valuable lesson and example to you (& now others too). Keep up the good content, and hope your channel continues to grow!

[@dunderhay9169]

I hope lots of people watch this. I am a member of a watch forum and every week we get new members who join and say they want to make money selling used watches ☹️. We tell them that almost all watch enthusiasts lose money on most sales particularly when buying new. The watch bubble of the last ten years is over and people are getting their fingers burned.

[@mywatchjourney6579]

It's sad to see so many people sold on 'investment watches'.

[@mistermilgauss]

1. Will drop at least another 14% in next 6 months tmo. 2. The customer should drive the Lamborghini, not the watchdealer 😅

[@mywatchjourney6579]

The planned increase in production guarantees prices will drop long term. Especially with the hype dying. I'm still looking for my lambo.

[@mistermilgauss]

@@mywatchjourney6579 so true buddy, no lambo but you just gained another sub, keep rocking!

[@ArthurvanH0udt]

Grey market value $30B is a joke. Knowing Rolex is the biggest one and that amount is way larger than Rolex turnover. Making that figure impossible!

[@MrStlvette]

Not sure you are aware America was founded on FREE MARKET CAPITALISM! Your logic on grey market watches is nuts! Like saying used cars are bad just buy new. Not everyone can afford your logic.

[@mywatchjourney6579]

I'm wondering if you watched my video. Sounds like you didn't. Fraud is not a business model.

[@loo9407]

Thanks for ripping to shreds these flippers 😂. Love the content!! P.S. - just purchased a L Santos in steel from Cartier in Costa Mesa, treated me like a King and no waitlist lol

[@mywatchjourney6579]

What that South Coast Plaza?

[@loo9407]

@@mywatchjourney6579 yea it was. Walked in and out no snobbery lol

[@loo9407]

@@mywatchjourney6579 Yes it was. Walked in and out, they told me if we don’t have it on display we can order it and would be there in less than 2 weeks. No Snobbery pure class!!!

[@jacstoneu]

It’s the tugging money that made him money

[@WatcheswithDennis]

I never understood how people thought TPG's business model made sense. Nor did I understand why one would care what their salesperson drove or where they ate.

[@kevinh5349]

Anyone could have made some simple assumptions and penciled out the monthly cost of the Lambo and insurance, and calculated how many watches he'd need to sell just to cover THAT. Not to mention the penthouse, the Mercedes, paying for the crew's houses, etc.

[@housekarl5786]

..3 good points.. AF and BQ should have learned....the common denominator in both...Paul Thorpe !

[@mywatchjourney6579]

That guy needs to be investigated.

[@romanmichaelhamilton8729]

Who is BQ?

[@cedarcanoe]

you had a great dad, he must have been a wonderful person. Thank you for sharing. ps. you are right about grey market.

[@markr3926]

Amazed me anyone believed a word from these chancers. Paul Thorpe is one of the worst and most disingenuous youtubers on the topic (this side of the pond) who I also would not trust with a jar of coffee. Something really unhinged about folk who can’t see it plain as day. Your dad ran a business to stay in business and that means paying your bills, being honest and helping customers for the long term. Not deceiving them.

[@mywatchjourney6579]

To tell you the truth, I had doubts about our shop. But we pulled through :-).

[@europria]

"Value of luxury watch market down 13%" You are saying that as if it was not all time artificially high due to hype balloon demand that made dealers sell over MSRP .

[@mywatchjourney6579]

Economists don't really define hype as artificial demand. Whatever the strike price is the equilibrium point.

[@ronaldlowe295]

Thanks for sharing your family's business journey in the watch industry. I do not know the business of the watch market; I look for the best deal. But growing up in my family business, deli and butcher shops back east, I was taught business principles. It didn't make sense to me how they could make money when some told you how slim their margins were. If it quacks like a duck....... Great video!

[@pepipetrov7568]

There is a certain guy on TT who runs between shops buys from one and sells it in the next one😂 I mean these people have been there for ages . They know each other. How can people believe running between shops and selling will make you thousands of dollars . These guys know each other , they don't need a courier. What bothers me is that the shop owners or renters go along with that. The guy in this video is right. What about the watches they are selling😂 Bezel from this , dial from that box and movement from other. You're not buying a proper watch.

[@user-ot1mt3wx1g]

It is pathetic seeing some grey market dealers positioning themselves as rock stars, influencers, price dictators, and buyer saviors . Same as how some real estate agents portrait themselves as market movers in reality tv, it is a fiction. I am not against the existence of any business models (just supply & demand) but seeing how the aforementioned characters portrait themselves is like watching a comedy. Don't be part of this masquerade party.

[@JoeKyser]

Well you could probably see the writing on the wall with Anthony. When he went to California and was looking for a Penthouse, I knew something was up. It made absolutely no sense

[@mywatchjourney6579]

Yeah, that mansion made no business sense.

[@londonman8688]

he spent $5m, not lost it

[@disaar3679]

Consignment has only ever existed because of ignorant sellers. You should never.

[@Sams911]

I always understood the flippers as making the biggest buck on the gray market... then the gray dealers make a smaller margin (maybe $3-500).. or did a lot of the Gray dealers start to get watches directly from the ADs (back door?).. BTW, I'm recently in Vegas, is that where you are? Strange market, where the AD's here actually target tourists and not locals.

[@mywatchjourney6579]

I think at the start, it was individual flippers. But soon the grey dealers got their hooks into the system. Most times, it was hard to tell the diff. It was because the dealers could built up huge spend history. I love Vegas and was there for a Star Trek con.

[@larrysimon1]

Simple and honest analysis !

[@donnaskelcy]

I think your videos are great and I love the humor in them!

[@mywatchjourney6579]

Thank you :-)

[@Viper4ever05]

Thank God, I am just getting into watches and these prices are insane.

[@berneron]

Now that was a proper man talk with an educated opinion to back it up, bravo 👏

[@aleabogado6703]

And they are keeping on deceiving people. I called one of them and the first thing he told me was that the model of my watch needs time to be sold. After that he told me you need to consign the watch . 😂😂😂😂😂. Come on

[@mywatchjourney6579]

That's terrible!

[@dBsdecibels]

Good general business advice, especially for a very small startup. Was also neat to see your early involvement with watches and the family history it holds for you. Is the business still around?

[@mywatchjourney6579]

Thank you. My father retired years ago.

[@jibranm5310]

You have a cool father! Fixing watches is so interesting; to make something last longer is giving it life!

[@mywatchjourney6579]

Thank you. I started this channel in memory of him.

[@hardy3559]

Absolutely love your story 🫶🫶🫶🫶

[@erikc3057]

Thank you for being the "adult in the room" and explaining this. You gave a free business lesson to those who will listen. One thing that you didn't mention: In my opinion, the cashflow that these YT "influencers" chase is the revenue coming from the views, likes, and subscribes. They care more about the revenue received from You Tube, so they turn their channel into a crazy reality tv show with clickbait content. I'm sure an influencer will take a slight loss on a Rolex if the video content made, made thousands more through views and sponsorships. I think there's two business models running side-by-side and most times, the content viewing model wins out.

[@mywatchjourney6579]

My finance professor used to say "Cash is King". I do agree that they are now desperately trying to become "influencers". But it won't be enough. I know from my own channel that there is hardly any money in KZbin. That's fine for me since this is a beloved side hobby. It's not enough to keep a watch dealer in business.

[@erikc3057]

@@mywatchjourney6579 Good point. And for what it is worth, I would feel way more comfortable buying a watch from a shop like your father's before buying one in a Bucherer's. You should be proud.

[@mywatchjourney6579]

@@erikc3057 Thank you. My father was a watchmaker all his life. And he would be proud to hear that.

[@ChampDietingAndFitness]

Hey sorry if my question may seem kind of stupid, but I'm extremely new to this content entirely. I recently stumbled across this type of market by someone saying they got rich doing this 10 years ago or so, so I started looking into it. Are you basically saying this person is a liar or scammer? I was watching an investment video and he said he bought and sold Rolex's which I have come to learn is known as the grey market. I did some casual research into Rolex's I see that the % I should look to make is around 20~30% on each sale. Thinking about it though its hard to truly make an income from this if you can get a job at around 15~20 hour. You would have to sell 2 watches a month to keep up with that wage per hour. I think this is the gist of what your video is saying that most of the people who say they make alot of money doing this is lying.

[@mywatchjourney6579]

Don't do it, it's a scam now. There was a brief crazy time where flipping work; that's gone now.

[@ChampDietingAndFitness]

@@mywatchjourney6579 ok thank you for your expertise.

[@donaldneo4317]

What about Roman/Luxury Bazaar?

[@mywatchjourney6579]

They've had to lay off people too. Their costs are sky high.

[@donaldneo4317]

@@mywatchjourney6579 I meant to ask that they are not grey dealer like Jomashop so are they what you categorised as fly by night watch dealer? You seems to only have 2 category? Luxury Bazaar, Nico/Pride and Pinion and etc... are they legit business in your analysis?

[@gregschulte2953]

Will only buy a fine watch during recession when things need to be liquidated (2008). Buy what you like at reasonable prices and enjoy. Probably will never sell.

[@mywatchjourney6579]

Buying the dip is something I do all the time. I'm always hunting for bargains on the used market.

[@gregschulte2953]

@@mywatchjourney6579 agree, prices on “desirable watches have come down from very inflated levels but probably still 30-40% too high imo.

[@kevinmccalister8197]

Does it also apply to Nico?

[@mywatchjourney6579]

I'm not sure what to make of that guy. He's a watch dealer but seems to be more an entertainer than a watch enthusiast. But perhaps I'm being too harsh. He does seem to trade in social media hype.

[@DecemberNames]

I just cannot wait to get the call for my Pepsi !! Lol

[@dannysimenauer5745]

Me too, but I sense that the AD's cannot be weaned away from their "ladder" game they love to play. You still need to buy many thousands of dollars worth of watches & jewelry before you get the call!

[@mywatchjourney6579]

It'll take time for people to adjust to the new market. Too many are still hanging on to hope.

[@DecemberNames]

yeah i am 100% certain of the same fact you mentioned! that was more of wishful thinking. i am ok, its just a watch, i have like 30 already :) @@dannysimenauer5745

[@jamesblonde2271]

Facts, great stuff

[@dd-dd2co]

I still see these grey dealers and individual sellers being stubborn with their prices.

[@mywatchjourney6579]

Yeah, the inventory on sale is still too high because people are being stubborn. It'll pass.

[@dd-dd2co]

@@mywatchjourney6579 Someone just offered me a used Explorer from 2021 for above retail price. Delusional, hahah!

[@justintsang6119]

Would love to hear more about your dad's business!

[@mywatchjourney6579]

If you haven't seen, I did cover some more in my Rolex Explorer video. I talk a lot about my dad.

[@rickzamora1]

I love watches my current collection is 10 watches, I also ran my own small tool business for about ten years. I had alot of flashbacks watching your video. Keep up the good content, i did like and subscribe.

[@mell3109]

Cool! So can you point me in the direction of a newish AP Royal Oak at cost pls?

[@mywatchjourney6579]

Sorry, I snagged it already!

[@BeckVMH]

@@mywatchjourney6579 Hahaha

[@DSupremeLounge]

Great video and informative. I just had a bad experience with a gm dealer. Avoid any gm dealers who don’t offer at least 1 year of their own warranty. Especially one out there with beautiful pictures and website who only offers 48 hrs for a return or any issues. Not worth it.

[@mywatchjourney6579]

Right on

[@stoundingresults]

My citizen blue angels chronograph is the most luxurious watch I need, and it's too damn nice to wear to work (truck driver). Got it used for $250 off co-worker.

[@mywatchjourney6579]

I'm actually a huge fan of eco-drive Citizens. I have their Garrison field watch and it fits my wrist like a dream!

[@degenerateWA]

Flipping is great as long as your happiness is based on 50% losses!😂

[@mywatchjourney6579]

LMAO! You really can't lose then

[@kevinh5349]

That's what I've been wondering. How could someone with 6 DUIs get a license. Many states have a 10 YEAR suspension on the 3rd one. Maybe one of those yayhoos that put out almost daily vids on the guy could look into that.

[@mywatchjourney6579]

Maybe he thought he would make so much money, he could hire a driver for each lambo lol?

[@ASH-kj1di]

I agree with everything you explained I would just like to add a point that you may have missed. Many of these gray market dealers are also trying to cash in on "influencer" money, so starting YT and IG accounts, and growing them is also a source of revenue. Delivering a Rolex by private plane can be profitable if it gets you views and exposure (both are sources of revenue) I think the issue is that if you spend more than you make, you will eventually run into a universal truth.

[@mywatchjourney6579]

To tell you the truth, I'm skeptical of social media 'income'. It's actually much less than people think. That's why you see so many sponsorships and paid posts.

[@WMIYC]

Thank you for the content. Does gray market refer to new, but through unofficial sellers and secondary market refer to “reselling?”

[@mywatchjourney6579]

'Grey goods' referred to new watches sold discretely by the manufacturer, so there's was no damage to the brand. 'Grey market' now often refers to Rolex flippers and the like. I agree it's conflating terms. I try to clear that up in the video.

[@patrickr2686]

They may make $500 profit off the watch. How much money are they making off social media "flexing" the watch?

[@mywatchjourney6579]

I'm guessing nothing. It was as adverting channel, not a profit source.

[@GDLOTKIDOG]

Bringing a buyer a Rolex at the airport was probably a quick stop before heading to a Vegas Baby!!

[@mywatchjourney6579]

I grew up in Vegas. Good luck!!

[@bwallace4241]

I enjoy watching many of the watch KZbin channels for what they are, entertainment simply because I love watches. I'd never considered consigning or trusting any of these people, apparently many folks did which is sad. Being conned by some random people on KZbin to send them multi thousand dollar watches in my opinion is no different than being conned into giving some random guy your credit card information over the phone because you won a free trip to Spain... I think that phrase 'buy the seller' couldn't be more true when it comes to buying anything high value online.

[@mywatchjourney6579]

Absolutely! But I did get a heart warming email from a Nigerian Prince.

[@pragmatist7455]

Thank you for sharing your story, your dad was a smart guy. There are no free lunches in life, only hard work for success. I just bought well below the bottom of the market from a small flipper in panic selling mode. I don't think anyone knows where the bottom is right now. I feel bad for anyone that got started in the business during the hype of COVID, they're going to lose their shirts.

[@mywatchjourney6579]

Yes, I don't actually wish ill on anyone. But getting into this market at this late stage is very difficult.

[@stevensteven7119]

Thank you

[@mywatchjourney6579]

You're welcome

[@davidbellamy1403]

As usual, you're spot on. I learn so much from your videos, keep up the good work!

[@mywatchjourney6579]

Thanks :-)!

[@vforvictor7575]

There are much bigger names than the backpack dealers getting away with this criminality

[@mywatchjourney6579]

That's true, agreed. Romans latest video reeks of desperation.

[@joshsher6327]

The smart watch is the new quartz crisis.

[@mywatchjourney6579]

I agree. The Apple watch is now easily outselling even the g shock. Once voice interaction through AI is there, we'll get our "Dick Tracey" watch phones.

[@joshsher6327]

I am a newbie collector with over 30 watches. The last watch I bought was an apple watch.@@mywatchjourney6579

[@BAF605]

Very well said. My dad was a small businessman (not watches) like yours, and taught me many valuable lessons. I never swallowed the AF story or that of all the KZbin and Instagram secondary dealers (and their prime apologist) who played along with him. Don't forget who they were!! Those who were taken in have been taught some very valuable lessons though I am sorry for their losses. Even those who didn't lose watches but paid hype prices will not see a catch up for years. We seem to be headed back to a time when a Rolex is not a bad place to park some cash and maybe a return will come in future years. So much the better if so. The grey market story doesn't end with AF. There's more to come I'm sure.

[@mywatchjourney6579]

Yes, with the downturn I do anticipate better time for true watch collectors.

[@jackmcclary2136]

When am I buying you lunch!? We can stimulate our local economy!

[@mywatchjourney6579]

Thanks :-)

[@Peanutdenver]

He was an example of "fake it to you make it" tribe, which is destined to fail. I heard he thought his social media channels/pages would bring in the coin to support the huge losses. You're right, an absolutely absurd business model.

[@mywatchjourney6579]

Did you see Roman's latest video? It reeks of desperation and the comments roasting him are hilarious.

[@Peanutdenver]

@@mywatchjourney6579 No, but I'll have to go watch it later. He is a walking disaster and it's a shame that there are 14 year olds out there thinking this is a legitimate path to making money/running a business.

[@mstcrow5429]

Oh, ok. You should have said this doesn't apply to Jomashop, et. al., at the beginning. How did he afford to collect the tools? I'm gathering tools, not all Swiss or anything, not cheap. Neat that you used to be able to open a clock and watch shop, and it might work out. Seems now, absent a well-located luxury watch store, have to be mostly jewelry, with watches on the side.

[@Blastoise-rx3qv]

Love your videos man! Keep up the great work ⌚️

[@mywatchjourney6579]

Thanks! Will do!

[@GABEEJEE1]

Crazy, uncomfortable way I always remember our first Rolex AD experience in Edinburgh in march 2023. We were there the watch was there, we got treated nice, the money was there and they didnt sold the watch. We been put on an waiting list which then I get frustrated and found an easy way out. I enjoy your videos. God Bless You

[@pardus8panthera5]

Respect.

[@rickjason215]

Rolex is doubling their production. Prices will shoot down.

[@mywatchjourney6579]

We do know that they are planning for a major production increase. I do wish we had a better idea about how much. Double production would be a dream for watch collectors. Let's hope that happens.

[@rickjason215]

@mywatchjourney6579 When watches were on fire and demand couldn't be met, they announced a totally new robotic facility. I remember they said double the production, but who knows? Rolex is secretive. I will certainly never buy from that Rolex preowned program, priced over retail.

[@mywatchjourney6579]

@@rickjason215Thanks for the tip. That double production has been going around and I kept wondering about the source. And yeah, I think the CPO program is in trouble. Higher prices and now the legal exposure in France. Let's see what happens.

[@_sr]

Word

[@PietroCozziTinin]

I watched your last 10 videos and the info is brilliant and very high quality. For me personally though the vids are too slow have too much repetition and feel like you're addressing little children. Maybe a second channel for the grown ups?

[@romanmichaelhamilton8729]

So you need to sound like a meeting at the board of a bank? :-) How difficult do you need this discussion to be?

[@BobbyDazzler888]

TSGWMID 🍭

[@romanmichaelhamilton8729]

Hola Juan!