New Watch Club

garyskeepers · 08-06-2020 9:01pm

Juniper Orange Carpentry wrote: »

Work first on watch knowledge, or maybe get into the Strap and Nato business nobody in Ireland doing good quality ones that and its a good way to get into the game at low outlay. Source good quality straps and natos from China, buy in some stock and resell them.

Cool business ideas are like assholes, everyones got one, but when people who have looked into yours & tell you it stinks..listen, dont throw a strop

I appreciate ALL of that. and thank you for another idea

btkm8unsl0w5r4 · 08-06-2020 9:07pm

garyskeepers wrote: »

I appreciate ALL of that. and thank you for another idea

Well its good to have one at least.

Maybe team up with somebody that knows about watches, not knowing your market is the failure of many a business, but usually after others have jollied you along and taken your money.

893bet · 08-06-2020 9:12pm

garyskeepers wrote: »

I don't actually know which watches we will use, that will come down to research and focus groups.

as far as anything else. I will have to update when we actually finish the semantics

You have just had a lot of feedback from a serious focus group (who are your target market despite what you might think. I have watches from 400 euro to 20k and have had everything in between, as do a lot of people here).

In Ireland this won’t work. In a bigger market like the UK. Maybe but I don’t think so. There is a reason others have tried and failed. It’s a **** business model.

If you have the sort of startup capital to try then I would suggest using it for any other venture.

This stinks of a dell boy brain wave on a bar stool.

893bet · 08-06-2020 9:12pm

Juniper Orange Carpentry wrote: »

Well its good to have one at least.

Lolled

banie01 · 08-06-2020 9:13pm

893bet wrote: »

Lolled

You aren't the only one who did

btkm8unsl0w5r4 · 08-06-2020 9:18pm

I am deep into phase 6 boys. Garys got some quality business speak going on, blue sky thinking, vertically integrated, outside the box.

bannermeme.jpg?ext=.jpg

893bet · 08-06-2020 9:22pm

Juniper Orange Carpentry wrote: »

I am deep into phase 6 boys.

Graph ain’t accurate.

Based on Fitz this seems to be the longest phase.

unkel · 08-06-2020 9:36pm

Juniper Orange Carpentry wrote: »

Would you rent a 1000 euro watch for 600 euro (never mind you could buy that watch on adverts for 500 most likely)?

That alone sums up why this plan will likely fail. Most of us on here buy most watches second hand. On the likes of adverts.ie for example. If you fancy one, get a good deal and when you want something else, sell it on. Will cost far less than any of the subscription models the OP is thinking off. Hell sometimes you even sell the watch for more than you bought it for!

garyskeepers · 08-06-2020 9:44pm

893bet wrote: »

Graph ain’t accurate.

Based on Fitz this seems to be the longest phase.

KINDA LIKE...........................

Thirdfox · 08-06-2020 9:45pm

garyskeepers wrote: »

Sure, none of you guys will drop to a 700 euro watch, thats cool. I appreciate that ,. but lets give it a go and see how it works out.

remember, the shame is not in the failure, its in the not trying.

Thanks for all the input guys. Appreciated

I think that's a little unfair - seems like plenty of us have 50-500 euro watches in our collections.

I think it's somewhat related to the recent comment on the buy/sell thread about people flipping more grails or 5 figure watches than 3 figure ones. It could very possibly be related to the fact that at 3 figures for a watch, for some on this forum - it really doesn't matter too much if it is flipped or not - it's more of a light discretionary spending with disposable income - whereas to "try a different Patek" - most people kinda need to flip their existing Patek to do so.

For example with my 1963 chrono "re-issue" - it was bought for 160-180(?) a few years ago? I'd get maybe 120ish for it now? But I won't really miss that 120 - so might as well keep in the box - if I clear it out (and the ST1901 has special meaning for me as it's a Chinese movement) I'd probably gift it to someone rather than try and get a hundred euro.

So I think people do drop 500-700 on a watch - it's just for some - they won't really have to think twice about paying that amount - so renting wouldn't appeal at all to this branch.

You can see in the article that scwarzh posted that the Australian business that is trying this is 1) backed by a commercial store which has stock 2) is trying to make the Pateks of the world accessible to (I guess) many in this forum who would buy Omegas etc. - so turning the 5-6 figure watches into 3 figure rentals.

And maybe this would work on 3 figure watches into 1-2 figure rentals - and I'd wish anyone luck with a business venture, but I think it's been said numerous times already on this thread that we think more research is needed into how large your market is.

I think practically - almost no-one on this forum at least seemed to be super enthused about the business concept of renting out affordable watches (I would see it as renting a g-shock for a few euro a month - if I really wanted that g-shock, I would just go ahead and purchase it outright). 1) I personally might buy a second hand one so if flipped it makes very little loss or 2) if bought new and flipped at half price - a 100-200 euro "loss" isn't necessarily a huge deal to some people. To some, the pleasure of buying new is worth that €100 depreciation.

I wouldn't be able to say the same about a Zenith for example - if I bought one at full retail I couldn't turn around a week later flip for 40% off and shrug it off. So if you were renting out Reversos and the like I *might* be interested - but it would really be like that Australian store - wear one for a week to give it a test drive, if I liked it I would be saving and buying ultimately - and maybe that is how that Australian store intends to make money - "here, rent our Patek for a week... oh you like it? Well may we direct you to the sales corner of our sister company?"

garyskeepers · 08-06-2020 11:02pm

Thirdfox wrote: »

..."

too much great content their to quote you on it all. But I understand.. Thank you very much. Ill certainly throw all that into the pot

Kaybaykwah · 09-06-2020 7:25am

Birneybau wrote: »

And you came into the *looks around* Watches and Timepieces forum to drop that stunning observation?

Oh. It's not that stunning. Come on now. But I did look around and emitted an opinion, too bad you didn't like it. Lol

Birneybau · 09-06-2020 11:22am

Kaybaykwah wrote: »

Oh. It's not that stunning. Come on now. But I did look around and emitted an opinion, too bad you didn't like it. Lol

Ah, no offense meant. I'm going to visit the jigsaw forum and tell them that I use a picture instead, requires no assembly.

scudzilla · 09-06-2020 9:40pm

Juniper Orange Carpentry wrote: »

I would actively discourage people from joining a club like this. 600 euro a year for 4 random sh1tters low value watches. Each watch is only there to satisfy you need for a new thing rather than having any inherent worth, collectability or resale value, all soon forgotten. Generally the watches you get are bargain bin specials and the odd seiko is thrown in once a year and are pointed to as a show of quality. Only value is the ability to fill slots in a 20 euro Amazon 20 slot watchbox.

For me this type of watch collecting is there to milk peoples collector and gambling mentality and leave them deeply disappointed with re-branded Aliexpress faux heritage fashion watches. The disappointment then fades cause there is another loot box coming and this might be better.

If you can actually deliver quality watches for 150 euro each and make a profit fair play, but I would suggest most of these clubs bulk buy tat that others cannot shift. Its not watch collecting its christmas crackers.

Hardcore view...yes, but I think this is akin to MVMT, Vincherio, Daniel Wellington and all that horror. Maybe it has a place, but for me its just a load of nonsense. Every video I see of these, the watches are really aweful. The alleged RRP trotted out is fantasy, like the invicta RRP of 800 euro but yours for 50 euro and all that nonsense.

Sorry to piss on your chips, but I am a grumpy old fart.

Dont be holding back now :pac::pac:

In all seriousness, i posted in here asking about Watch Gang, was seriously thinking of joining, a few decent replies like yours above soon put me straight, bullet dodged

Birneybau · 10-06-2020 11:55am

An ad for Watch Gang popped up on Facebook for me. This guy is either clueless or a stool. I could find no Akribos watch for more than £70 (and that was pushing it) and as for Swiss Eagle...yeah, right.

Kaybaykwah · 10-06-2020 12:28pm

Birneybau wrote: »

Ah, no offense meant. I'm going to visit the jigsaw forum and tell them that I use a picture instead, requires no assembly.

No need to, I already beat you to it. In fact, I knock down other people's hobbies for fun. Finger painting and paint by numbers are other easy targets.

Wibbs · 10-06-2020 12:33pm

Kaybaykwah If you can't play nice, or come off like a humourless troll don't post in this forum again

garyskeepers · 10-06-2020 3:54pm

scudzilla wrote: »

Dont be holding back now :pac::pac:

In all seriousness, i posted in here asking about Watch Gang, was seriously thinking of joining, a few decent replies like yours above soon put me straight, bullet dodged

Dont let the opinions of others become your realty bud. Go for it, try it yourself. What have you got to lose? a few quid?

btkm8unsl0w5r4 · 10-06-2020 6:16pm

garyskeepers wrote: »

Dont let the opinions of others become your realty bud. Go for it, try it yourself. What have you got to lose? a few quid?

Look I am all for positivity Gary, I am all for business, ****ing love that ****. But sometimes you have to let reality be your reality, cause unfortunately reality is where your potential customers live.

scwazrh · 09-03-2021 10:57pm

Looks like Breitling are doing their own version of a rental watch

https://www.hodinkee.com/articles/breitling-select-brings-a-watch-subscription-program-to-your-wrist

unkel · 09-03-2021 11:26pm

$2000 rent for the first year. No thanks

Cyclingtourist · 09-03-2021 11:31pm

scwazrh wrote: »

Looks like Breitling are doing their own version of a rental watch

https://www.hodinkee.com/articles/breitling-select-brings-a-watch-subscription-program-to-your-wrist

You pay, Breitling select.

Wibbs · 09-03-2021 11:57pm

Benny Clymer, Mr Hoodwinkee himself in the comments talking to the proles: Very interesting concept to see it coming from a big, and well-established brand. I really like what they're up to at Breitling these days!

:pac: I love the exclamation mark. He must be having a laugh. I wonder how much of a nod from Breitling was fired his way for that?

If there was ever a moment in the mainstream let's monetise the current watch craze...

I suspect this could be one of them. Hoodwinkee's recent 80's week another. Where prices for the mainstay vintages have gone nuts, few are selling and even fewer are buying in the cheap(er) seats and the dealers have run out of stock, so let's throw a hail mary out for the decade that nanoseconds ago was off limits as the decade that taste forgot. Though a good few years back they did the same for the 70's and that took off, so I suppose they figure lightning can strike twice. When they get to the 90's I'll wet myself with mirth.

Cienciano · 10-03-2021 12:21am

unkel wrote: »

$2000 rent for the first year. No thanks

You could buy one third of a Hodinkee limited edition alarm clock for that. Joke of a website

banie01 · 10-03-2021 10:06am

I own a Breitling that cost not much more than year 1 subscription cost.
The watch is a tangible asset, and can fairly easy be traded up, down or liquidated as I choose.

This subscription model, has no real benefit to a customer.
If you can afford the sub?
You can afford to buy, on credit at least, if not outright initially.

unkel · 10-03-2021 10:23am

That exactly. I spotted a Breitling Superocean that I liked a while back that could be had for well under €2k. Try that for a while and if you don't like it you can probably sell it on for around the same. Worst case scenario, you'd lose a few hundred quid on it.

Fitz II · 10-03-2021 11:23am

unkel wrote: »

That exactly. I spotted a Breitling Superocean that I liked a while back that could be had for well under €2k. Try that for a while and if you don't like it you can probably sell it on for around the same. Worst case scenario, you'd lose a few hundred quid on it.

So even when the big boys try this, the economics of it make no sense. Its one of those things that people are trying to get on the subscription bandwagon, but it just doesnt work for watches unless you go low low quality like the watchgang boys.

Cyclingtourist · 10-03-2021 12:50pm

Think I'll start my own 'watch club'.

Subscriptions of €500 invited for a chance to wear a watch from my collectioné for a couple of months with the option to buy at a special price.

fat bloke · 11-03-2021 10:07am

Seeing as watches can be such temporary purchases you'd think they'd be ripe for a rental model. Has anyone ever tried that?

Wibbs · 11-03-2021 10:20am

I'd reckon they're only temporary purchases for a small percentage of overall watch buyers. IE oddballs like us watch nutters.

I'd bet the vast majority of luxury watches bought are "one offs" for special occasions and the like. Even in the "fashion" brand end I'd say the majority are bought, worn and held onto for years until left in a drawer. The watch nutter market is a small enough one and the same nutters know the values of watches and resale values of watches so would baulk at paying a subscription fee to rent that could actually buy a used watch from the same brand you own and sell on for little enough loss down the line and a lot less hassle than some rent/sub model.

Cienciano · 11-03-2021 11:33am

Yeah, can never picture this working. And a large part of having an expensive brand on your wrist is showing off how much money you have (although some would never admit it!) so "renting" it defeats the whole purpose.

Fitz II · 11-03-2021 12:14pm

fat bloke wrote: »

Seeing as watches can be such temporary purchases you'd think they'd be ripe for a rental model. Has anyone ever tried that?

There is some australian group tried this. Insurance must be a nightmare. It was like 3k for a rolex for the year or something like that. Its like renting a house, doesn't make a lot of financial sense you loose all your equity.

fat bloke · 11-03-2021 12:32pm

Fitz II wrote: »

There is some australian group tried this. Insurance must be a nightmare. It was like 3k for a rolex for the year or something like that. Its like renting a house, doesn't make a lot of financial sense you loose all your equity.

Certainly not straight forward, that's for sure, but then, if you have big shindig to show up at - you can rent the suit, you can rent the Ferrari, you can even rent a partner! Why not rent some bling too?!

. Renting of something like that for a year isn't really a thing. If you were trying on your tux in the rental place and yer man showed you a classy "piece" and offered it to you for the evening for 100 quid - would there be a take up? -Might be!

The whole basis behind the rental market of anything is you get the temporary ownership/usage at a premium price but without the long term drawbacks of purchase and ownership - up-front cost, insurance, servicing etc. The difference with watches (or some of them at least) is that the value of the item can be constant or even appreciative, whereas with cars the value obviously plummets like a stone.

You heard it hear first! Anyone got the number for Dragon's Den.... ?

Cienciano · 11-03-2021 1:17pm

fat bloke wrote: »

Certainly not straight forward, that's for sure, but then, if you have big shindig to show up at - you can rent the suit, you can rent the Ferrari, you can even rent a partner! Why not rent some bling too?! . Renting of something like that for a year isn't really a thing. If you were trying on your tux in the rental place and yer man showed you a classy "piece" and offered it to you for the evening for 100 quid - would there be a take up? -Might be!

The whole basis behind the rental market of anything is you get the temporary ownership/usage at a premium price but without the long term drawbacks of purchase and ownership - up-front cost, insurance, servicing etc. The difference with watches (or some of them at least) is that the value of the item can be constant or even appreciative, whereas with cars the value obviously plummets like a stone.

You heard it hear first! Anyone got the number for Dragon's Den.... ?

Renting for an evening might be a thing, I think it happens for womens jewellery. But part of that is famous people doing it so the company gets advertising too. But part of your market will also just go out and buy a fake if it's just for show short term.

Lorddrakul · 11-03-2021 1:29pm

I like the Black Tie idea that when renting a tux or some such, they have a suitable timepiece on offer too.

However, if it is to be something decent, as opposed to something along the same lines as the suit brand you are renting, then the deposit would have to be fairly hefty indeed.

Years ago, having had to go to the same place three times in a few months to rent a tux, I just decided to buy one there and it was roughly the cost of the three rentals. I still have it many years later.

It would still be a pitiful fraction of a 'nice' watch.

Having had the foreign car rental experience, before the advent of widespread internet access, of having €1500 or so reserved on a credit card as a deposit, what kind of similar measure would be needed for this?

fat bloke · 11-03-2021 1:55pm

Cienciano wrote: »

Renting for an evening might be a thing, I think it happens for womens jewellery. But part of that is famous people doing it so the company gets advertising too. But part of your market will also just go out and buy a fake if it's just for show short term.

Aha! Now you're talking. A faux-velvet drawer full of "luxury" deep-fakes that you'd need an electron-microscope to discredit! I think we're on to something here.:pac:

New Watch Club

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