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Wristwatch Business Idea

If you have an interest in luxury watches, you should look into getting involved in the watch business.

Those in this business can enjoy making a good living from buying and selling high-end watches, making their profit by “flipping” the products in much the same way as realtors flip houses.

By following the age-old rule “buy low, sell high”, you can make a handsome profit selling antique watches, pocket watches and related items.

There is also commission to be made in connecting watch buyers to watch sellers, and assisting collectors in their searches for particular models.

Promoting Your New Watch Business

While getting your business going may seem tough enough, it’s growing the business that provides the real challenge. Thankfully the internet will make your job much easier than it was in the past – allowing you to access a consumer base far greater than any bricks-and-mortar business possibly could.

By developing a simple website promoting your products, you stand a far greater chance of being found by potential customers who otherwise may not have been aware you had the watch they wanted.

Those with a little more technical knowledge may look into creating a fully-fledged web trading portal which provides a place where buyers and sellers can make known which watches they’re looking to buy or sell.

By charging a subscription to access the service you can make money from the watch business even if you never physically come into contact with the products!

Valuations And Repairs

You may also wish to provide a resource for luxury watch buyers and sellers which lists the market value of watches so that your customers know whether they’re getting a good deal or not.

By enlisting the help of an expert (or becoming one yourself), you can also provide, for a fee, a service determining whether or not a watch is genuine or fake, giving your customers peace of mind in knowing that they’re not spending their money on a cheap forgery.

Given that many of the more expensive watches are antiques, there is also a significant market for watch repair. By hiring an expert trained in repairing or restoring watches, you can guarantee a regular revenue stream even in times when the market is weak.

There is also money to be made by identifying vendors who regularly pass off fake watches as the real thing, with many consumers taking great care to avoid sellers with a poor reputation within the industry.

Building Your Collection

Before any of that, however, you will have to amass a watch collection large enough to provide a decent product base for your business. There are several ways to do this other than the obvious practice of searching eBay and other online bidding and selling services.

There are a number of major watch trade shows around the world where, with some haggling, you’ll be able to pick up high-end watches at bargain prices which you can sell (sometimes even at the same show) for a handsome profit. Swap meets and flea markets are also worth exploring – with a little luck and a lot of perseverance you can find some real gems at a fraction of their market value which will set your watch business on an instant path to success

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