Q&A #70 How to Start a Watch Business? Should You Invest in Watches?

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4 жыл бұрын

New Grey Market Episode: "My Plan to CRUSH $130 Million in Sales in 2024"
• How I'm Going to Sell ... -~-
This video marks 70 weeks of Q&A Tuesday and boy, have you guys given me a lot of questions to consider. Today's video is going to be unusual, as I won't be reading any questions of the screen; instead, I'll be answering two of the most common questions that I get.
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The first one is, "Should I invest in watches?," and the second is, "How do I start a watch business?" While I've touched on both of these in the past, today I'm going to go a lot more in depth with some step-by-step for those who are actually considering getting into the business.
There's a big difference between shopping for a watch as a dealer vs as a consumer. There are many elements that you'll need to consider. While I started off my business on Ebay, the amount of marketing that businesses like this one requires means being on multiple platforms. In addition to that, logistics and software can go through the roof and you'll need to make sure you have the sales to backup those expenses. Those are just some of the things to consider but I'll also talk about how to survive in a changing economy, things to look out for from the competition in the watch industry and more. The second part of my discussion is about investing in general and other avenues you can explore to multiply your money.
🖐️ WHAT'S ON MY WRIST
✚ Audemars Piguet Royal Oak in Stainless Steel and Yellow Gold Two Tone A-Series
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#romansharf
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Пікірлер: 181

@micahpbt9638 4 жыл бұрын

This has by far the best advice video I have heard on KZfaq regarding the watch industry. Loved every second of it. Thank you for sharing your experience and thoughts!

@RomanSharf 4 жыл бұрын

thank you Micah

@jackycheng2079 4 жыл бұрын

came here from producer Michael's video and what a gem! such a great find, wonderful content, love how Roman is just keeping it real, informative, straight to the point and no bs; love the vlogs and the Q&As, thanks for the content and keep it up!

@SuperPeleke 4 жыл бұрын

Great video. Every time I watch your videos, it comes through clear as day, how you've become successful. Very smart, tenacious, disciplined. Great inspiration, and great content for any collector or business person (or both!)

@RomanSharf 4 жыл бұрын

Thank you Fred

@todorelojconfernando 4 жыл бұрын

You brought back so many memories, in the 80s Chicago 5so.Wabash Restaurant 3 days a week everything and anything you could buy there, all races came together Russian, Greek, Mexican ext. Piles of cash all over, there all gone and I miss it like crazy you call them runners we called them coyotes. Great video Roman

@RomanSharf 4 жыл бұрын

thank you!

@AcidMushTV Жыл бұрын

Great advice and no bs course plug ins, I love this guy!

@Nightfallingofthesky 4 жыл бұрын

Solid content my man! Probably the only guy on KZfaq who could hold my attention for 40mins. Love from Singapore 🇸🇬

@RomanSharf 4 жыл бұрын

thank you very much

@dgb6355 4 жыл бұрын

Roman, you are a raw model to all of us. Maybe one of your longest vid, but so interesting. I can’t get enough of your stories and advice. Thanks you for sharing. Regards.

@RomanSharf 4 жыл бұрын

Thanks DG

@miguellourenco9799 4 жыл бұрын

What an amazing video! Very straight forward, down to earth!

@aarongranada2549 4 жыл бұрын

great video roman always learning new things every video you make thanks 🙏 keep it up.. excited 😊 to you’re next video

@RomanSharf 4 жыл бұрын

Thank you Aaron

@user-fi5fr9us2t 4 жыл бұрын

Hi Roman, Best video ever! Thanks for this real live inside and shining some light in to the business. Wish you nothing but the best ! Thanks for your honesty...

@RomanSharf 4 жыл бұрын

thank you!

@bentremy 4 жыл бұрын

You are the GOAT. This video was absolutely excellent, informative, honest and packed with insider information. Simply brilliant.

@RomanSharf 4 жыл бұрын

thanks Bent

@Robert.Dickson 4 жыл бұрын

Just started watching your videos and this has to be one of the best! Best wishes from Scotland

@RomanSharf 4 жыл бұрын

Thanks Robert

@davelee9791 4 жыл бұрын

Your advice is as always a breath of fresh air...

@RomanSharf 4 жыл бұрын

Thanks David

@kostasp1137 4 жыл бұрын

One of the things I like about your channel is that you always speak truth and what you have in your mind

@RomanSharf 4 жыл бұрын

Thanks Kostas

@darrenwills4037 4 жыл бұрын

Roman...I am rarely without words...this is the most excellent video on this subject EVER. Thank you, thank you, thank you.

@RomanSharf 4 жыл бұрын

thank you!

@stupitt6989 4 жыл бұрын

Great video, sounds like it’s worth being a runner first to learn the business to gain the experience needed to move forward Best watch advice video I have seen

@brucelee9941 4 жыл бұрын

I appreciate your time and training believe it or not you motivated me to start selling watches, I'm no where near your level, I am doing this as a passion, I love watches.

@junjiesu8058 4 жыл бұрын

Thank you Roman. Insightful sharing where we can reflect and learn.

@RomanSharf 4 жыл бұрын

anytime!

@filmagnoli 4 жыл бұрын

Honest, transparent REAL advice. I only came across your videos recently. As someone who enjoys watches but doesn’t own many at all, I find myself wanting to get in and purchase Rolex and Tudor pieces I actually like. The videos I’ve watched so far with you and Bob are amazing! There is a mutual admiration, respect and humbleness that comes out and is beautiful to see and listen to. Thank you for the info & insight. I’ll continue to watch and learn and hopefully have the opportunity to purchase along the way... for the good deal, and enjoyment first, and investment later (if it so comes to that). Ciao for now! Fil

@RomanSharf 4 жыл бұрын

Thanks for the good words, Fil. Happy to provide the knowledge!

@frankphilpot3492 Жыл бұрын

Yet more great answers to good questions😊

@mcooper29th 10 ай бұрын

Refreshing - rock solid advice. Just discovered you - now a new subscriber. Keep up the good work!

@fakedoctoralex 4 жыл бұрын

Roman, great advice as always. Love your videos.

@RomanSharf 4 жыл бұрын

Thanks Alex

@Itsrome87 4 жыл бұрын

I almost didn’t watch didn’t watch this video and it ended up being one of the best videos u put out learned so much game from this one and it wasn’t about the watches👌🏿

@RomanSharf 4 жыл бұрын

Thank you!

@jfell567 4 жыл бұрын

Best watch video yet man thanks very much.

@RomanSharf 4 жыл бұрын

thanks Jason

@hannibalwrecktor5506 4 жыл бұрын

Amazing information... thanks Roman. Starting my watch trader journey this year.. Your channel is exactly what I needed to come across. . . Ready to start building experience. Sent out a bunch of feeler e-mails to fine jewelry & watch establishments asking to work for free or intern in exchange for a chance to have the knowledge and hands on experience imparted about luxury watches. I have a meeting/interview with one of them in about 6 hours. No sacrifice, no progress. Thanks brother, definitely subscribed.

@RomanSharf 4 жыл бұрын

thats awesome, small advice attend a trade show as brick and mortars are a bit of a diff ball game

@bcbliss5147 4 жыл бұрын

Great video as always.

@ListerMotorsports 4 жыл бұрын

Another great vid Roman, im a small dealer selling mostly vintage Omega.. great advice..i do this for the Love of these Amazing timepieces ...

@andit6887 4 жыл бұрын

This is really valuable content, much appreciated. Big thanks..from eastern Europe. ;)

@rolliesvintage 4 жыл бұрын

Exelent video Roman, that's the way to do business in the watch industry!!

@RomanSharf 4 жыл бұрын

Thanks!

@wolftheshade7946 4 жыл бұрын

Amazing and very imformative video! Keep up the great work.

@RomanSharf 4 жыл бұрын

Thank you!

@wolftheshade7946 4 жыл бұрын

You're very welcome! And thank you for making these videos! I'm learning a lot. :)

@fenilparekh4439 4 жыл бұрын

Good video again, your earlier video made me sell off some of the lesser loved watches of my collection and now this videos helps me not care about the value of my current collection. I am just gonna enjoy them. Thanks!

@RomanSharf 4 жыл бұрын

thats awesome Fenil!

@paulsykes4847 4 жыл бұрын

Wear them, enjoy them ...... fabulous video great advice... brilliant as always well done

@junkmail6614 4 жыл бұрын

Best videos and content, hands down!

@RomanSharf 4 жыл бұрын

thank you

@jintai450 4 жыл бұрын

feelin so appreciated for the video.

@RomanSharf 4 жыл бұрын

thank you!

@stevenp4958 4 жыл бұрын

Roman, Another home run! Maintain your passion. Be Well,

@RomanSharf 4 жыл бұрын

Thanks Steven

@jcbsplace 4 жыл бұрын

Great video Roman, one of your best

@RomanSharf 4 жыл бұрын

thank you!

@kensalisbury7673 4 жыл бұрын

Great video. Lots of good info brother

@RomanSharf 4 жыл бұрын

thanks Ken

@Araasshmk Жыл бұрын

Thank you so much it was really helpful

@chris2costacosta264 2 жыл бұрын

Excellent and transparent information Tks

@joelnolander8395 4 жыл бұрын

Thank you for taking your time too answer our questions 🤩

@RomanSharf 4 жыл бұрын

anytime Joel

@billclifton731 4 жыл бұрын

Great content Roman, Thanks.

@RomanSharf 4 жыл бұрын

thanks Bill

@9XBen 4 жыл бұрын

Amazing content Roman keep it up¡¡

@faizalhakim3772 3 жыл бұрын

Missed this one when it first came out. Sound honest advice, I think.

@CWO4D 4 жыл бұрын

a very good advice vid Roman...Thank You

@RomanSharf 4 жыл бұрын

Thanks!

@mrgood1cor13 3 жыл бұрын

Best video you've ever done.

@MrMateo1991p 4 жыл бұрын

Great video, as always!!

@RomanSharf 4 жыл бұрын

thank you

@bigoh5797 4 жыл бұрын

Excellent Video Roman , Thank You..

@RomanSharf 4 жыл бұрын

Thank you

@760am 4 жыл бұрын

Hi Roman, just starting my watch business (Watch Savants) and this video has been invaluable, thanks for sharing your experience.

@locutusdborg126 4 жыл бұрын

Good luck.. Love the name.

@760am 4 жыл бұрын

@@locutusdborg126 Thanks 😀

@RomanSharf 4 жыл бұрын

best of luck

@ianbrown5924 2 жыл бұрын

great advice fella

@edjustice7755 4 жыл бұрын

Solid Advice Roman!! IMHO I think it was amateurs and flippers getting into the business that created the bubble, ppl wanted the piece of the pie. As you said, I've bought what I like and enjoy...I believe you have mentioned that many times before....again solid!!

@RomanSharf 4 жыл бұрын

indeed!

@vedantvenkatesh7816 4 жыл бұрын

Well said Roman - the issue I have is that desirable watches have just gotten crazy expensive (social media hype, premiums over retail etc.) and it sort of takes out the pleasure of ownership. People seem to be stuck on the resale aspect (myself included) if you are looking to fork north of a $100k for a new 15407 from the grey market. Hence questions like resale seem to pop up more often these days. Hope the 2020 recession would usher in a much needed correction.

@RomanSharf 4 жыл бұрын

Thanks Vedant

@matthew_lynch 4 жыл бұрын

Roman; nothing more to say than ‘Home Run’ video.

@RomanSharf 4 жыл бұрын

Thanks Mathew

@tondo6912 4 жыл бұрын

Like in all trading situations, if no inventory no connection and feel for market. Great video

@RomanSharf 4 жыл бұрын

Thanks Henry

@birajudoshi3463 4 жыл бұрын

Thanks Roman for candid advice! You are absolutely on the dot with the end consumer mentality and thanks for sharing insight into business side of watches and finally ending it with few persona life stories! Given the current market, which watches are good buy in your opinion? Sorry not being repetitive yes have to enjoy the watch but like many there end consumers I would like to know that I made informed decision buying something that’s not just fun but possibly will retain good value in future too

@RomanSharf 4 жыл бұрын

you cant go wrong with Rolex

@RomanSharf 4 жыл бұрын

you cant go wrong with Rolex!

@LorenzoVonMatterhorn597 4 жыл бұрын

Hello Roman, love what you are doing with the channel and all the valuable information you provide. Here is my question, I have a new AP rose gold royal oak with a few scratches on it, is it bad to polish AP watches? What do you recommend is the maximum number of times you should polish a watch in its lifetime?

@RomanSharf 4 жыл бұрын

no such thing if its done properly do it as many times as needed

@thesilverphist6483 4 жыл бұрын

I know i keep repeating but that week went phuckin quick !

@RomanSharf 4 жыл бұрын

:-)

@SelectorSam Жыл бұрын

What is your inventory management software that works best for watches and jewelry? Thank you

@imadbasayev8541 4 жыл бұрын

The old version of your website was soooooooo much better and easier to search and navigate. Please bring it back.

@RomanSharf 4 жыл бұрын

We are acrtaully working on improving it as we speak, would love for some specific suggestions via email!

@tonyj8947 4 жыл бұрын

You covered a lot with awesome material. FYI do a 1031 exchange on the property you sold.

@RomanSharf 4 жыл бұрын

Thanks and I did :-)

@epvtrinidad 4 жыл бұрын

Great video again. Thanks for all of this content Roman. Few questions: - if a recession hit tomorrow, what % drop would you think the hot pieces would have? ie 5711, 15202, RMs, Daytona, GMT - When you were starting out, how easy/hard was it for you to negotiate with the 'veterans' of the market in trying to get them to sell you pieces at lower prices?

@RomanSharf 4 жыл бұрын

Hi EJ will discuss

@michaelangelo8898 4 жыл бұрын

Rom, you're da man 👏

@RomanSharf 4 жыл бұрын

No, YOU DA MAN! 😜 (Thanks Michael :D)

@quity919 Жыл бұрын

Thank you

@seagaln Жыл бұрын

The best in the market.

@johnpena5897 4 жыл бұрын

Bad ass watch channel!

@OromaxSantoDomingo 4 жыл бұрын

Hi Roman! Thanks for making these great videos and for the knowledge shared! I’ve been watching you non-stop since I discovered the channel! I’m in the jewelry business in the Dominican Republic and we are starting to roll out our watches offering, initially we only did B2B, buying from customers and reselling the pieces to dealers in Miami when we go to jewelry trade shows, but now we are starting with the retail part in our store and digital platforms. I would love to go to watches trade shows in the US and so far I’ve only heard of IWJG, but you have to be vouched by two members before been able to apply for the membership (something that I still don’t have). So I was wondering what other trade show would you recommend me to go in the meantime while I start building up these relationships over there, specially the ones where LB is going to be present? Thank you for your time!

@RomanSharf 4 жыл бұрын

come to IWJG MIami, I will sign you in as a guest

@OromaxSantoDomingo 4 жыл бұрын

Roman Sharf, Awesome!!! Thank you I really appreciate it. My name is Armando Taveras from Oromax. See you the 18th of November!

@clark650 2 жыл бұрын

How do you guys figure out what the market value is of watches day to day?

@TickTocking 4 жыл бұрын

Even as a pro I found this really interesting. Nice job

@RomanSharf 4 жыл бұрын

Thanks Steve

@Jcestanley 3 жыл бұрын

Liked and subscribed...is 7200 out the door for a mint full kit with papers Rolex explorer 214270 a good deal? I think it is. Picking it up tomorrow or Friday.

@blagovestvlahov9160 4 жыл бұрын

GOOD JOB

@markfelkins5162 2 жыл бұрын

How do you find info on a old watch, I have a watch with a number on the back but nothing else, so How do I identify this watch ? I googled it already, no results.

@jasoncasey5ify 4 ай бұрын

Dude is proud of himself

@keekeefries6298 4 жыл бұрын

business 101 - love it. my son is in college studying finance and I am going to make him watch this video. Awesome Roman!

@RomanSharf 4 жыл бұрын

Thank you!

@yuechen3686 4 жыл бұрын

Hey Roman, I want to buy a Vintage Daytona. But Paul Newman aside which other models are a must have Daytona, I hear terms like Floating Cosmograph or Big Red. I like what you are doing with your video's and keep up the good work! Also you had an office in HK right? Is it possible to buy a watch there or do you only do shipping via express?

@RomanSharf 4 жыл бұрын

Hi there are plenty of choices, email me I will send you some options, and yes you can purchase in our HK office

@things4yougaming723 4 жыл бұрын

I just started selling watches. On eBay. Well I’m on my second watch. My first time watch I sold was a brand new invicta automatic watch it was I made 200$ profit. But I can’t afford 1k watch now I’m working on it though. I’m still new.

@mvsnforce 4 жыл бұрын

Talking about Seth from Essential Watches, would be amazing too see you on Producer Michael's channel!

@lubo0wap 4 жыл бұрын

And Michael should buy some watches from Roman.... Cause Roman is a what we know as a Player In a Management Position......... Roman you keep it up and next time I go b Ack to US, I'll hit you up for a coffee and a conversation on that desk loaded w watches!!!! You hit me up when u come to the UK next

@RomanSharf 4 жыл бұрын

in the works actually

@lubo0wap 4 жыл бұрын

I hope so, I sent him a DM to spend his dough wisely and hit you up after a vid. He posted about spending 150 000 in essential watches......

@RomanSharf 4 жыл бұрын

@@lubo0wap :-)

@mvsnforce 4 жыл бұрын

That's amazing!

@stephenpeck1636 4 жыл бұрын

who actually would 'dislike' this video. great video

@RomanSharf 4 жыл бұрын

thank you!

@marisabel407 4 жыл бұрын

You are awesome

@RomanSharf 4 жыл бұрын

thank you!

@knobexploitmusicelectronic9218 4 жыл бұрын

The set of "dealer rules" that you display are universal to any dealer in any business.

@RomanSharf 4 жыл бұрын

yep!

@TortugaLanguageProductions 2 жыл бұрын

👍😌👍😌👍😌👍😌👍😌👍😌👍😌Great video..Always learning

@davemackinder6518 4 жыл бұрын

Roman what was your first watch. And plz tell me what you think of the newly released Seiko,s

@RomanSharf 4 жыл бұрын

Rolex datejust I picked it up at my buddies pawn shop for like 1000 bucks, on Seiko will have to have a closer look first

@davemackinder6518 4 жыл бұрын

Thx for answering me, keep up the good work,

@The_real_Mr_Ghost 4 жыл бұрын

Roman, how much in% did the Rolex market go down in average after 2008? wasnt it pretty stabile?

@RomanSharf 4 жыл бұрын

it went down the least out of all brands probably about 20%

@The_real_Mr_Ghost 4 жыл бұрын

Roman Sharf that only shows how good Rolex watches hold there value!

@zacklariviere816 4 жыл бұрын

Now you know what would impress the dealer that sticks something to you he sat on for awhile!? Is selling it for a profit fast! I’m sure that would get your name going! Lol

@oac92020 Жыл бұрын

You sell timex at your eBay store???

@XJT0428 4 жыл бұрын

ROMAN you are a stand up guy!

@RomanSharf 4 жыл бұрын

thank you!

@XJT0428 4 жыл бұрын

@@RomanSharf 👍

@diabew 4 жыл бұрын

Hi Roman Hop all is well, I hope you can address my question at some point ... Has AP shot itself in the foot by increasing prices twice this year ? Here in the Uk 15400 was 15k RRP then the 15500 at 17k mid this year and again they’ve put the price up to 18700 k this month. All of a sudden I got offered the 15500 and the chrono...and dealers don’t want to pay over RRP except for the pieces with the blue dial.... What’s your take on this ? Many thanks and keep doing what you’re doing.

@locutusdborg126 4 жыл бұрын

Richard Mille raised their prices 40% and cut production, and they did fantastically. Will AP follow suit? Who knows.

@RomanSharf 4 жыл бұрын

I will address DG

@diabew 4 жыл бұрын

Roman Sharf many thanks

@diabew 4 жыл бұрын

Locutus D'Borg true, nobody knows at the end of the day...its one thing to raise the price up once by whatever amount but to raise the price twice in less than 6 months just doesn't make sense...

@Itsrome87 4 жыл бұрын

Hey roman when's the next Tokyo show or big trade show I will love to come to learn game and be apart of the team!! I'll pay for my own food and travel expenses!!

@RomanSharf 4 жыл бұрын

Nothing in Tokyo that we attend at least, too many complications bringing stuff in and out

@Itsrome87 4 жыл бұрын

My bad I ment Hong Kong 🇭🇰 or any trade show!!!

@RomanSharf 4 жыл бұрын

@@Itsrome87 these guys have a show every month and the big show is in March i will be at that one www.hkwgs.com/home2.html

@roblove3756 3 жыл бұрын

I JUST WANT TO SELL WATCHES AND HAVE GOOD CONVERSATION. The Money Will Follow. THANK YOU 👍😌🙌

@user-ek5xu2pb8k 9 ай бұрын

what watch would you start your company with?

@LiquidSilver1 Жыл бұрын

Hello Getting ready to pick up a watch collection but not interested in getting into the business. Over 200 watches is any interested???

@gerubstoxx1117 3 жыл бұрын

Roman......A++++++++++....

@fenilparekh4439 4 жыл бұрын

Any collab videos in the pipeline?

@RomanSharf 4 жыл бұрын

yep, flying to LA on a secret mission next month :-)

@fenilparekh4439 4 жыл бұрын

@@RomanSharf Awesome!

@jasonwb6884 4 жыл бұрын

A Rolex GMT Master 2 for $2,200, man used watches today are overpriced. I'm a buyer, think I'll yet for the next recession. I think current prices are out of whack and too expensive.

@RomanSharf 4 жыл бұрын

yes we are in a high market agreed

@watchoutticktock3660 4 жыл бұрын

🇬🇧✌️

@The_real_Mr_Ghost 4 жыл бұрын

diamonds are the worst investment . only going down. U can produce lab diamonds now, and u cant see a difference... people are selling lab diamonds to jewelers now as a natural diamond without noticing a difference.

@imadbasayev8541 4 жыл бұрын

The problem with lab diamonds is they're only around 30% cheaper than natural but you'd be lucky to get 20% of the value back on resale. Diamonds will always go up over time, whereas labs will only become cheaper because the supply is infinite.

@sulttaani 4 жыл бұрын

Too many cuts, Ian

@DK-ep2ov 4 жыл бұрын

Investing in anything but your high income skill is a waste of time and a pussy move. If you are good at selling watches don't be lured in by people telling you to invest in real estate. You can make way more than your RoI from real estate if you stick to your high income skill. Obviously, if you were a house flipper in the first place, this would BE your high income skill! I've been baited by friends to invest in gold and it was the worst decision I've ever made, even though the value of gold has gone up throughout the years. Doubts are necessary, but fear will kill your business in the long run.