Anthony would go to other watch dealers, take photos of their inventory, and list them on social media as his own.
Timepiece gentleman forum how to#
Not having the network or much money, but he did know how to take photos and use social media to his advantage. He quickly realized the struggles of being a watch dealer. Once he saw he could make good money from this he learned everything he could about watch dealing and formed his company to what is known today as The Timepiece Gentleman. Anthony made the sale with this buyer and then did a few more flips after.
He decided in order to meet the buyer at 8pm he was going to quit his job.
However, Anthony would not be able to meet this buyer because he could only meet at 8pm the time Anthony was waiting tables.Īfter doing some thinking, Anthony told himself that if he were to make this sale and then do it again a couple more times, he would be making the same amount of money flipping watches as he would’ve working his two jobs. Selling this watch to that buyer would mean that Anthony would make a $1,000 profit which was a big deal considering he was only making $1,200 a week working mornings at a gym and waiting tables at night. Three days after buying another watch to flip, he again found a potential buyer. Anthony made a $500 profit from this sale and used the money to go buy another watch. The potential buyer met with Anthony and did in fact end up buying the watch. This offer was much more than Anthony was expecting so at first, he thought it was a scam. Shortly after listing the watch, he got contacted by someone interested in the piece offering $2,300. Anthony later ended up listing this watch on a reseller’s website. Anthony spent 16 months in jail, and it was after his second time in prison that he really made a big change in his life.Īnthony had given a close friend a watch to hold onto while he was in jail so when he was released, he would have some money coming out. While Anthony was living in Dallas battling alcohol addiction, he wound up getting arrested and sentenced to prison on two different occasions for a DUI. Anthony has shown a burning drive to succeed, change the path of his life and has knocked it out of the park every time he’d set his eyes on a goal. From battling alcohol addiction, jail time, the death of his brother, to starting up a luxury watch business that now is worth over 8-figures. I'd only sell an expensive watch to a company - selling privately is very risky.Written in partnership with Ascend AgencyĪnthony Farrer is a man who has overcome tremendous obstacles to achieve great success in his life. I agree entirely that cash or transfer in hand is the best way to sell a watch, and it requires that the company you are selling to has the cash to pay for it so is likely (but not certain) to be more fiscally stable. They don't have the same restriction in the US. In the EU (and UK since we had the same rules up until Brexit) you can only pay up to around 10k euros as an anti money laundering measure. In many EU countries you cannot pay cash with more than lest say 1000, everything else has to be paid wire / card so authorities can track your balance, VAT, taxes on profit, losses, who pays and what in the cross checking with reported profit / income and what you spent.Īll the balance-sheets has to be handled to authorities monthly or quarterly depending on your turnover and how you are set up.Īlso if you take out from your account more than lets say 10.000 the bank has to report to authorities.įor me all these cash money flying around in US dont understand, this applies to all the business over there or other similar states Wish all the luck to all involved but it hurts to see that you have no real protection on this.Īdditional question for US members as I dont know how these things are regulated in US This whole market since 2019 has exploded based on mostly smoke and mirrors. Regardless how this will unfold at the end, this proves that unless face to face transaction pay - get the watch / sell the watch - get paid, everything else can be a potential damage to your wallet.Īlso worth to mention that there are business out there established for many years more trusty, however like any businesses everything can go belly up in no time.
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