Rolex Watch CONSIGNMENT - The pros and cons

[@solforrest498]

David and Vinny have it right

[@1bobola]

I would never consign a watch, I recently offered to sell a very very desirable watch to a dealer you know and was immediately told by him it would be best for me to sell it on consignment. I’ve been told by a few other people that they were made the same offer too, I think it’s a case in this instance that the dealer might not have the readies and has too much stock already!

[@PaulThorpeOfficial]

So having discounted consignment that leaves you with the other options mentioned. Which one are you going to take do you think? Cheers.

[@1bobola]

@@PaulThorpeOfficial if I had to sell it, it would be a straight sale

[@robertbachmann8141]

Watch consignment is a scam. Don’t do it. Sell outright or leave it.

[@PaulThorpeOfficial]

As long as you're prepared to accept a lower price, why not.

[@Weakeyedominant]

​@@PaulThorpeOfficialwatch consignment played a huge role in the ballooning prices on the secondary market as flippers would ask for insane prices through 'trusted' grey dealers and very naive buyers who were willing to pay it during the boom. If grey dealers had their own money in the game and exposure to prices collapsing they wouldn't have spiked in the way they did.

[@stevenfoleyuk9404]

Consignment is that , a Con . Total Scam , dont do it.

[@60shots]

What a fantastic episode Paul, full of quality information as always. Have a great weekend.

[@hautehorlogerie5976]

The truth is bad dealers have no money! Thats why the do consiqnment

[@robertbachmann8141]

Spot on

[@StruanRobertson29]

It may be because they a a concern that they cant shift a watch

[@horawatching]

Total tosh - we buy watches that sell. If someone has paid too high or has an unpopular watch like a S&G Daytona etc then on consignment we would use the power of our business but why should be put money into a slow moving product

[@StruanRobertson29]

@@horawatching thats what I think...but I guess there are some dealers with cash flow issues who prefer consignment as they avoid being out of pocket

[@Biometrics2011]

Khalil is about the only one telling the truth

[@ATIWatchReviews]

Very interesting perspective. Ridiculous how dangerous it is selling an expensive item privately, sad but true!

[@Joe-cp5ud]

you are 100% right about selling a watch yourself, I would consign with a big dealer 10 timer over listing it myself online.

[@raaraa-1]

I think consignment does work in some circumstances and can work well for both parties. Like you’ve always said you need to do your research and use a reputable trusted dealer. I’ve consigned a car before to sell and it worked out great I got more than a outright offer. Great video Paul. Thank you

[@darranwatson1840]

just registered mine the other day great job paul and. Everyone. Involved. Well done

[@baniconeocleous5837]

Who is reputable,I sent my patek to watcmaster in Germany and then they said it was stolen in the robbery,a year later no patek and no £37 k

[@sinjinadams2862]

After learning how little legal recourse you really have when you voluntarily hand over your watch to some one and consign it, I think you are an absolute fool if you do it. I know it keeps all your Grey Market dealer friends in business but it's a practice that needs to be stopped!

[@OS993]

Paul, you speak from the heart, your words are simple and clear, this is what makes your videos understandable. Please do not think there is an issue with your accent or use of 'fancy' words.

[@PaulThorpeOfficial]

Thank you.

[@singaporewatchcollector6262]

Consignment is just so the dealer takes no risk and has free money after selling the watch which can be used to make purchases and profits first before it’s returned to the owner. Consign only if the dealer is trustworthy and if you want to try for a higher price but it has a risk.

[@PaulThorpeOfficial]

That's almost exactly what I said. Don't agree with the first part though. There are a number of genuine reasons why a dealer would want to consign over buying. You just have to understand them to be fair. Cheers.

[@flipmode45]

👍🏻 Balanced and fair assessment Paul. I would definitely consider consigning a watch in future as long as it was with a dealer I trusted.

[@masterwatch]

I have used Consignment before with a different product and the Consignor was fantastic so it probably really means always buy the seller.

[@PaulThorpeOfficial]

Absolutely... The problem we have here is the people whining about consignment will be the first to whine when they get a straightforward purchase offer.

[@nathanstupple3848]

The real issue is people have over payed and they are desperate to get out and some people will take advantage of that situation. You could go on consignment with a trusted person and unfortunately they get issues. A market that is screwed up good people can let you down . Greed mad prices have messed up the market . The real problem is some people could loose 50 grand and swallow it others can’t afford to loose 500 pounds. Those mad prices will ruin everything . Tough times today and going forward. I have the greatest respect for Spenser but he is in business and things can go wrong for anyone. Great chat Paul cheers.

[@PaulThorpeOfficial]

You're right in many ways. The selling public has to come to terms with any losses. Just as the dealers had to. Selling privately is far more dangerous than selling via a good dealer on consignment. The facts will bear that out without question. For every rogue dealer there are at least a 100 rogue buyers.

[@okidoki2952]

Only caught the end of the live, so playing catch up and just watched the full upload…I agree on the consignment….I’m just in the middle of consigning with a well know bricks & mortar dealer👍…..and thanks for answering my questions at the end of the live on the DWV…only asked as I still own a few watches that I purchased privately and didn’t ask for a receipt at the time👍

[@nicknicola1009]

Very late to this one as i catch up but so right on consignment. Its exactly like buying a watch where you buy the seller more than the item, you buy your consignor, its really as simple as that

[@Joe-cp5ud]

Of course there is, but it really is more of a benefit for people who know the market like ourselves, not people who are giving their watches to someone because of popularity.

[@tigerv88]

There is risks in all types of trading, and I don’t think consignment is much better or worse as long as you stick to the principle of “do your research and due diligence” to try and minimise that risk. For example I would be less willing to consign with a dealer who had limited history and didn’t have a balance of inventory, and that would just be the start.

[@richardbeaumont6746]

The thing is you have friendships and business dealings with some of these businesses. So i think your exposure is limited and wouldnt be as risky!

[@PaulThorpeOfficial]

If you use the right dealers, the minimal risk is the same for all of us.

[@flipmode45]

Paul, sorry you get so much guff for putting yourself out there. I imagine that is a real pain in the ass at times. I appreciate your effort though, I love you channel and have learned a lot over the years.

[@a.winner6811]

10 out of 10

[@JamieSieu]

Reputable dealers and almost zero percent risk? What world are you living in Paul?

[@PaulThorpeOfficial]

I’m quite happy for you to ignore my advice and experiences. Good luck selling your watches, let us know how you get on doing it your way.

[@PerrysTV]

I signed up to watch vault. Free. Lots of photos. Easy which is good as I’m a senior. Thank you pt. Why are they slagging you on the livestream shows. I don’t get it.

[@jamessmith-on3jf]

Thanks Paul I registered 7 watches last night. 1 of the feature I like about it is when I do a serial no search of a 9 year old airking 114200 the one watch I have not registered as my Daughter has the watch and I have the box/papers/ect on DWV is the serial no info say no record of this no. Now if do a search when sighed out on 1 of my watches that is registered DWV recognises the serial no This is a good system and thanks again for all your advice. Jimmy Rolex.

[@PaulThorpeOfficial]

Thanks Jimmy

[@beanbison]

10/10 Sound

[@Timeitis.1729]

10/10 mate

[@codyjarrett9685]

The best consignment is to take your watch to a well-established auction house. If you have an expensive watch haggle with the auctioneer about the commission. If they don't do you a deal walk away. At least they won't bugger off with your watch

[@PaulThorpeOfficial]

Best look at the fees! They can be horrendous. And there's the dreaded VAT

[@horawatching]

Consignment work well for many watches - as i have said in my own videos - get yourself a trusted trader

[@jaymurphy3877]

Just sell the watch yourself, don’t part with the watch until full funds land in your account or you have counted the readies in your own hand it’s not rocket science!

[@beanbison]

Datejust registered

[@larsthuresson6703]

You consign then. Perhaps it works for the insider. Nothing for the regular collector.

[@PaulThorpeOfficial]

Doesn't matter to me. You sell how you prefer to sell. I'm just pointing out the pros and cons of all methods.

[@larsthuresson6703]

@@PaulThorpeOfficial Of course, everyone has to do their own thing. But surely you can see the difference to you selling through consignment compared with us casuals ? The snippet is titled ”The benefits” not the pros and cons. For me I find that people on the inside tend to downplay both the risks for the seller and the vast upside for the dealer. But I recon it all depend on what side of the fence you are sitting. But as you say, its up to the individual when and how to sell..

[@MondayMorning-zp2ot]

?

[@laurencefahey3132]

First

[@CHASI146]

I don't think we can deny the fact that TPG immensely helped the dealers through the hype !

[@scwazrh]

Paul as always on the grey dealers side .

[@PaulThorpeOfficial]

Someone else who doesn't listen. There's no cure for ignorance I'm afraid.

[@scwazrh]

@@PaulThorpeOfficial and a leopard never changes his spots - once a dealer always a dealer