Are you searching for watches at wholesale?
Rolex, Patek Philippe, Omega—their popularity in the luxury watch market has no end. Efficiently and inexpensively purchasing items that are very popular among customers is a serious challenge for buyers. Many buyers are therefore constantly searching for reliable wholesalers to stock up on popular luxury watches.
Further, with the spread of digital technologies, an increasing number of buyers around the world have been participating in online auctions as a new purchasing option.
This article provides tips for using both transactions with wholesalers and online auctions as means of efficiently purchasing valuable luxury watches.
Differences between wholesale and online auctions for watches
・Auctions (real auctions & online auctions)
Benefits of using wholesale to purchase watches
In Japan, it is common for buyers to make appointments and visit wholesalers to negotiate and trade. In other countries, the most common sales method is for wholesalers to sell watches directly door-to-door, without appointments.
Using wholesale to purchase watches offers the following benefits to buyers.
Benefits of using wholesale to purchase watches (1): Purchases can be made quickly
Wholesale transactions typically take place directly through one-on-one price negotiations between wholesalers and buyers. For this reason, most transactions are completed within one day. Online auctions, however, require a certain amount of time because online auctions include a preview period and a bidding period. By comparison, wholesale allows watches to be purchased more quickly.
Benefits of using wholesale to purchase watches (2): Purchases can be made with limited resources
In the case of wholesale, buyers can purchase many watches at once through a single negotiation with a wholesaler. Because it allows buyers to purchase large volumes while minimizing labor, wholesale is useful for organizations and others who cannot afford to allocate a great amount of resources such as buyers for watch purchases.
Benefits of using wholesale to purchase watches (3): Easy to purchase desired items in a reliable manner
Since wholesalers propose goods that meet the needs of buyers, it is often easy for buyers to have items from certain brands and in specific price ranges. When looking to purchase certain types of products continuously, using wholesale is likely the best choice.
Although wholesale offers many such benefits, it also presents the following challenges for buyers.
・Limits on place and time
Since wholesale involves face-to-face transactions, buyers must set aside time for negotiations. And because locations are also limited, buyers tend to deal primarily with local wholesalers.
・Need for negotiating skill and experience
Since transaction prices are determined through negotiations with wholesalers, buyers must have an understanding of each watch’s market price. Buyers must also have experience in the industry, including the skills to move negotiations in an advantageous direction.
・ Difficulty of buying a single item
When dealing with a wholesaler, buyers commonly purchase large quantities of watches at once. For this reason, buyers may have difficulty making small transactions, or purchasing a single item.
・Limits on items that can be viewed
In general, the number of items that can be checked is limited because the buyer makes purchases from among the watches that are presented (displayed) by the wholesaler.
Benefits of using online auctions to purchase watches
Benefits of using online auctions to purchase watches (1): Purchases can be made regardless of time or place
Buyers can purchase watches by participating in online auctions at a time and place of their own convenience during the preview and bidding periods.* Because the time and location are not restricted, buyers can participate from anywhere in the world.
*In the case of Star Buyers Auction, the preview period lasts about one week and the bidding period lasts about six days.
Benefits of using online auctions to purchase watches (2): Market prices are easy to read
Online auctions set a starting price for each product, after which you can also check how the price changes as a result of bidding. Since bidding reflects the popularity among participants, the price tends to match the market value, and even people with little knowledge of market prices can easily participate.
Benefits of using online auctions to purchase watches (3): No need to negotiate
During online auctions, participants simply enter a value and click to complete their bid, so there is no need to negotiate prices with vendors. This also makes participation easy for those who are not confident negotiators.
Benefits of using online auctions to purchase watches (4): Desired items can be targeted with pinpoint accuracy
Participants in online auctions can bid on as little as one watch, so can target the item they desire with pinpoint accuracy. This also makes it easy to respond flexibly to sudden changes in customer needs.
Benefits of using online auctions to purchase watches (5): Ability to view an abundance of items
Since participants can see every item on auction, they can compare and consider many different watches to enable a wider range of purchasing options.
Benefits of using wholesale and online auctions to purchase watches
As we have seen, wholesale and online auctions each have their own respective merits.
In the past, it was common outside Japan to purchase watches only through wholesalers, but recently, as mentioned above, buyers are increasingly using online auctions as a new purchasing route, so that online auctions continue to expand increasingly as a reliable source of watches. The spread of online auctions will therefore present excellent opportunities for buyers who want to have as many suppliers as possible.
What luxury watches are enduringly popular in wholesale and online auctions?
Rolex Daytona 116500LN with white dial
Released in 2016. The Rolex Daytona series is the greatest of the Rolex sports models. One thing that makes the stainless steel (SS) model attractive is its affordability compared to other brands. The significant change from the previous model was making the bezel ceramic. The white dial is more popular because it creates a nice contrast with the black bezel. While prices fluctuate constantly, in the case of Star Buyers Auction, new items are traded at around 3,000,000 JPY.
Rolex Daytona 116506 with ice blue dial
Participating in online auctions