pocketwatch opportunity

[jerseyben]

So I lined up a deal for a pocketwatch. It is mine if I want it for $50 tomorrow morning.

It is a Marvel Watch Co NY USA movement. The movement is a swiss fake (fairly sure). The case is plain GF with no unique markings or engravings and it has a nice dust cover. The chain is a Simmons 12K GF (with the square links).

I figure worst case scenario I could scrap the case at $25. The chain should fetch $25-30 on ebay. Movement maybe $10 at flea market?

This deal doesn't look like a "slam dunk" to me. I typically stay away from deals where the potential profit is only $10. I don't know much about pocketwatches. That all being said, is there any good reason I am missing to either take the deal or pass on the deal?

Advice from the watch pros?

 

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[Iron Patch]

No pro here but that's the kind of stuff I get sucked into and very rarely is it worth my time. But... on the other hand, if I am quite sure I'll at least break even usually I can't resist and buy it. It probably would depend on what's going on because I burn through cash so fast on the stuff I know it wouldn't make sense taking a gamble when there's something else right around the corner...and there always is.

Watches, especially older ones are tough because they're so damn expensive to service.

 

[diggummup]

I wouldn't spend $50 on something unless I could at least double or triple my money off of it, or if I was keeping it for myself. That's just me though.

 

[treasurekidd]

I agree - a $50 investment for a possible $10 or sp return doesn't seem like it's worth it.

 

[trdhrdr007]

There is too much risk involved for the profit margin. The only way I'd do that deal is if I know I can sell immediately without hassle or expense.

 

[jerseyben]

Ok, I passed on the deal. Thanks!

 

[Iron Patch]

I wouldn't spend $50 on something unless I could at least double or triple my money off of it, or if I was keeping it for myself. That's just me though.

I think that's another reason competition can creep in on you guys because those margins don't really exist in my world as a normal thing.

 

[Iron Patch]

I agree - a $50 investment for a possible $10 or sp return doesn't seem like it's worth it.

That figure was talking about the worst case scenario and you could also say there was a possible profit of $100. The numbers isn't what would push me away if I seen it the same way, but I don't because I have no knowledge of pocket watches. If it was one of the quality brand names I recognize I'd definitely throw $50 for it but something pretty generic I think is not worth it and you could probably buy every day for $50.

This is a good example of why knowledge and experience means so much. For some strange reason that could be a rare valuable watch and most of us would all walk away leaving it for the person who knew. Well maybe at $50 some would take a shot, but what if it was something for $500 worth $5,000.... unlikely anyone would throw 5 bills down to take a shot. It makes me think of what a coin dealer told me about the Ford collection that sold through Stacks for 60 million.... he was able to build it that big because he almost always knew more than the other guy. I'm sure having money to play with and good instincts played a big part too, but when you know the value you tend to control the negotiation.

 

[diggummup]

Unless someone is educated as to the value of something then your right, they would hesitate to throw a large amount of cash at an uncertainty. I'd throw 5 bills at something if I knew I could flip it quick and make a couple hundred. The more you spend on something, usually the smaller the profit margin. I've kind of been trying to concentrate on buying better quality items to make a little more money per piece, versus buying lower value items to make a few dollars each on. However as it goes, most finds are the smaller valued ones. I will spend a dollar or $5 on something worth $30 or more all day long. I can't resist a bargain.
I guess I should have said "I wouldn't spend $50 on a watch unless I could double or triple my money on it."

 

[jerseyben]

Unless someone is educated as to the value of something then your right, they would hesitate to throw a large amount of cash at an uncertainty. I'd throw 5 bills at something if I knew I could flip it quick and make a couple hundred. The more you spend on something, usually the smaller the profit margin. I've kind of been trying to concentrate on buying better quality items to make a little more money per piece, versus buying lower value items to make a few dollars each on. However as it goes, most finds are the smaller valued ones. I will spend a dollar or $5 on something worth $30 or more all day long. I can't resist a bargain.
I guess I should have said "I wouldn't spend $50 on a watch unless I could double or triple my money on it."

You and I think A LOT alike!

My 2013 goal was to become more disciplined and to only buy quality items that might cost a bit more. I am the kind of guy who gets blinded by a bargain but I have been trying very hard to break myself of that habit and to only buy when it is truly "worth it".

 

[diggummup]

You and I think A LOT alike!

My 2013 goal was to become more disciplined and to only buy quality items that might cost a bit more. I am the kind of guy who gets blinded by a bargain but I have been trying very hard to break myself of that habit and to only buy when it is truly "worth it".

I have to make a conscience effort not to buy a lot of things I see. For some reason if it's vintage I want it. So, I have to watch myself.

 

[Iron Patch]

Unless someone is educated as to the value of something then your right, they would hesitate to throw a large amount of cash at an uncertainty. I'd throw 5 bills at something if I knew I could flip it quick and make a couple hundred. The more you spend on something, usually the smaller the profit margin. I've kind of been trying to concentrate on buying better quality items to make a little more money per piece, versus buying lower value items to make a few dollars each on. However as it goes, most finds are the smaller valued ones. I will spend a dollar or $5 on something worth $30 or more all day long. I can't resist a bargain.
I guess I should have said "I wouldn't spend $50 on a watch unless I could double or triple my money on it."

I used to only cherry pick better deals, but because I buy online where there is a lot of material, and it's easy, it's worth a click of a button, taking a picture, and listing an auction, to make $10. I remember getting a good sweat going for an entire hour to make that, so I'll gladly take the easy $10. Plus the whole nature of how things work for me is that I need my sales per week to cover my buying, so if I holdout and don't do many many smaller deals the money stops coming in and I'd dead in the water. It's funny I started buying with $300 to my name, and I did do ok right from the start with some good deals, I don't remember being short for cash... in fact I was sailing pretty good. Now over 10 years later $300 might get me through the first day or two but that would be it. Right now if I was to start from nothing.... Zero in my Paypal, nothing on hand to sell, just buying to start selling, I'd need at least $5,000. And by the time the first money from selling started coming in I would probably already be at zero and needing it to keep going. I have taken quite a few extended vacations but will not do it again because it's way too hard to catch the momentum again.