Quote:
Originally Posted by sy2767
My only intention in purchasing that watch was to possibly flip it to make some money, I am not looking for a pre-owned Rolex, I will contact the owner and take some better pics of everything. They are asking $1000 Canadian for it. Thanks everyone for the information and replies.
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Nope, no no no no!!!!
Either buy $1,000 worth of Bitcoin, or go and put that $1,000 on Black at the nearest casino (roulette if you're not familiar with the casino). Your risk:reward on _EITHER_ of these options is far greater than that of making money flipping a rolex.
Say that watch is real (which it isn't), a rolex without a box and papers is considered second rate and will trade from a trusted dealer at a substantially lower price than one with. A rolex in anything less than mint condition will trade at a lower price, and sit on the shelf for much longer; because if you're spending $5,000 on a watch, you may aswell spend $6,000 and get a mint one rather than a run down one. A perfect rolex in mint condition with a box and papers being sold by somebody who's not a trusted watch dealer will take longer to sell and sell at a discount to one being sold by a dealer. Any buyer (who's not a dealer) isn't going to be able to take the rolex apart and make sure that the movement hasn't been hacked up by a independent watchmaker and half the internals replaced by Chinese copies.
Buying a Rolex is all about trust, and that watch is the trifecta of untrustworthy. You getting involved in the situation isn't going to improve anything.
"What's it's history?" "I don't know, I just bought it from some guy a month ago" ... again, I'm running for the hills, I'm assuming you bought it because you wanted a Rolex then found out something's wrong with it and you're trying to flip it off to some unsuspecting buyer.
Honestly, if that was a real datejust being sold on chrono24, I think $1,000 would probably be a fair price. It's old, it's run down, it probably doesn't keep time (needs a service), it's got no b&p, and it could be stolen.
Finally, just to put this idea to bed permanently - If you did find someone who needed some quick cash and has a mint condition Rolex with box and papers to sell - why would they sell it to you, not the nearest watchmaker; and why would you then be able to sell it at any substantially greater price than them?
If you want to make money with watches, buy 1,000 $0.20c quartz watches from China and sell them at the local flea market for $9.95 each. You'll make far more money than flipping Rolex's.