First off, this isn’t meant to be disrespectful, but I am genuinely curious as to why profiteering is so frowned on? At the end of the day, we are grown folks capable of making decisions for ourselves. If someone wants to buy a VSF datejust for $1000, and there’s a seller willing to sell one for $1000, why isn’t this allowed? I am mindful that everyone works hard for their money, but they should also be allowed to spend it as they see fit. This isn’t meant to be a negative post, but I have thought about this a issue and wanted to know more about this topic.
The other day, I saw a post on the sales forum that got nuked because someone was asking for ~$12 too much. I was left wondering why is this such a big deal? We have to consider things like currency differences and that shipping costs could be manipulated (to some extent).
For example, if someone purchased the watch in a non-USD currency and resells it later, it’s almost expected to see some currency fluctuation between that currency and USD (probably more so if Crypto was used to purchase it) over the course of several months. So why are people nuking sales when a minor currency conversion difference could probably account for this?
Shipping costs could also be manipulated to some degree. For example if one TD sells a watch for $500 + $35 shipping and another TD sells the same watch for $535 with ‘free’ shipping, what is the value of the watch? I think everyone here would agree that there is no literally free shipping and 4PX / DHL or whatever shipping service isn’t delivering a watch halfway across the world for free. For someone who trades frequently, it would make sense for them to buy the watch for $535 with ‘free’ shipping in this particular example. There’s also the ‘hidden’ cost of customs insurance that the end-user benefits from.
More importantly, it seems that the no-profiteering rule could potentially hurt sales when it comes to discontinued models. The number of models is small, but VSF sub / Datejust and Noob Daytona comes to my list. Judging by how fast these items gets picked up and by the low number of sales posts, it seems there is a large imbalance between sellers and buyers. By potentially offering these watches at ‘market’ price, we could get more sellers willing to sell them.
I have been wondering, if a TD is selling a NOOB Daytona for $1200 USD, but a member here wants to sell the same watch for $1150 USD, why wouldn’t this be allowed? Isn’t this a win-win for everyone in this community? I don’t care what the original purchase price was, just what the current market price is. I get that not everyone wants to pay $1000+ for a NOOB daytona, but for those people who do, isn't it better to have that option than to have no option?
I do think that the markets would also balance things out such that if the asking price is too high, the item wouldn't sell and it would just be purchased from a TD.
In another forum, I was offered a significant premium for my VSF discontinued models. I declined, but it left me thinking that these ‘back-door’ deals could end up hurting potential people who deal with dishonest people.
Another example where I think a reasonable mark-up could be justified is if it means getting the watch sooner. For example, if you are given the option of buying the watch from a TD for $500, or buying it from a member who lives close by for $520 and getting it sooner, which option would you choose? Some people don’t mind waiting, but other people are ok paying a premium to get the watch sooner and not having to worry about customs.
Anyways, having said all this, I thought I would present a possible solution that is win-win for everyone. Why not make profiteering allowed, but a portion of the profits (say 10-20%) goes to RWI? So by way of example again, if the watch costs $500, and sells for $600 on RWI, then $10-$20 goes to RWI to maintain or upgrade the website.
Anyways, I know this is a lengthy post, but hopefully, we can have a discussion about some of the pros and cons of this. Again, it’s not meant to be disrespectful, but a question I have been meaning to ask.
The other day, I saw a post on the sales forum that got nuked because someone was asking for ~$12 too much. I was left wondering why is this such a big deal? We have to consider things like currency differences and that shipping costs could be manipulated (to some extent).
For example, if someone purchased the watch in a non-USD currency and resells it later, it’s almost expected to see some currency fluctuation between that currency and USD (probably more so if Crypto was used to purchase it) over the course of several months. So why are people nuking sales when a minor currency conversion difference could probably account for this?
Shipping costs could also be manipulated to some degree. For example if one TD sells a watch for $500 + $35 shipping and another TD sells the same watch for $535 with ‘free’ shipping, what is the value of the watch? I think everyone here would agree that there is no literally free shipping and 4PX / DHL or whatever shipping service isn’t delivering a watch halfway across the world for free. For someone who trades frequently, it would make sense for them to buy the watch for $535 with ‘free’ shipping in this particular example. There’s also the ‘hidden’ cost of customs insurance that the end-user benefits from.
More importantly, it seems that the no-profiteering rule could potentially hurt sales when it comes to discontinued models. The number of models is small, but VSF sub / Datejust and Noob Daytona comes to my list. Judging by how fast these items gets picked up and by the low number of sales posts, it seems there is a large imbalance between sellers and buyers. By potentially offering these watches at ‘market’ price, we could get more sellers willing to sell them.
I have been wondering, if a TD is selling a NOOB Daytona for $1200 USD, but a member here wants to sell the same watch for $1150 USD, why wouldn’t this be allowed? Isn’t this a win-win for everyone in this community? I don’t care what the original purchase price was, just what the current market price is. I get that not everyone wants to pay $1000+ for a NOOB daytona, but for those people who do, isn't it better to have that option than to have no option?
I do think that the markets would also balance things out such that if the asking price is too high, the item wouldn't sell and it would just be purchased from a TD.
In another forum, I was offered a significant premium for my VSF discontinued models. I declined, but it left me thinking that these ‘back-door’ deals could end up hurting potential people who deal with dishonest people.
Another example where I think a reasonable mark-up could be justified is if it means getting the watch sooner. For example, if you are given the option of buying the watch from a TD for $500, or buying it from a member who lives close by for $520 and getting it sooner, which option would you choose? Some people don’t mind waiting, but other people are ok paying a premium to get the watch sooner and not having to worry about customs.
Anyways, having said all this, I thought I would present a possible solution that is win-win for everyone. Why not make profiteering allowed, but a portion of the profits (say 10-20%) goes to RWI? So by way of example again, if the watch costs $500, and sells for $600 on RWI, then $10-$20 goes to RWI to maintain or upgrade the website.
Anyways, I know this is a lengthy post, but hopefully, we can have a discussion about some of the pros and cons of this. Again, it’s not meant to be disrespectful, but a question I have been meaning to ask.