7 Things I Wish I Knew Before Buying My FIRST WATCH

hi everyone my name is jenny and in today's video i want to talk about the seven biggest rookie mistakes someone can make that can sometimes even lead up to thousands of dollars down the drain if you are not careful when buying watches since the watch market has been so up and down we get a lot of new people joining this hobby and with that i also get a lot of messages lately from those of you who just you know started out collecting luxury watches or watches in general and i mean it is totally understandable that there are so many questions floating around since you don't want to make any mistakes starting out especially because you know those kinds of mistakes tend to be the pricey ones too so that's why i want to share with you the seven biggest mistakes that i keep seeing and hearing from people who are just starting out when it comes to buying their first watches but after watching this video you should be on the safe side and at this point i want to thank today's sponsor for this video chronix for supporting the channel but i will get to that in a bit so let's get started okay let's start with a mistake number one lots of beginners tend to do and that is buying watches off of a private seller and let me put a little bit very important disclaimer here i do not by no means want to say that there aren't any legit private sellers or that private sellers are bad in general nah uh but if it is your first time ever you know first time ever big watch purchase and you don't have much or any experience with watches at all i think it is best to make use of that option at a later point in time and yes i know oftentimes the best prices and offers are found with private sellers you know when looking at woodex watches there are sometimes price differences of a couple of thousand dollars when compared to professional watch dealers to put it short there are mainly two issues here when buying off of a private seller number one there are usually either no or significantly less buyer's rights when buying off of a private seller depending on you know where you live in the world so if your newly bought watch stops working after a few weeks you would eventually have really tough time getting compensated for the damages or costs if you even get anything at all so who has to pay for the repair in nine out of ten cases well yeah it's gonna be you pal the second issue is unfortunately the increased number of scams and overall dodgy people are trying to rip off others on the internet of course this isn't only a luxury watch problem but watches seem to be a very popular niche amongst those scammers a lot of stories go along like you know someone finding a great offer online and then buying from private seller and sending the money over in and then never receiving a watch or something along those lines this is only the very simplest of scams and those criminals have become extremely smart when it comes to default someone so here's my advice if you haven't already bought a couple of watches before do not buy off of a private seller for the first time you know on sites like ebay craigslist or marketplace since there are private sellers on there too so instead of buying off of a private seller i recommend you know checking out offers from authorized dealers or professional you know pre-owned watch dealers you can find on the internet or platforms yes prices are usually a bit higher than there but you usually get at least one year of warranty and the peace of mind that your watch is authentic and in case anyone out there watching this is thinking about purchasing a watch in the very near future i've got something that is definitely going to help you with that because today's sponsor chronix is not only one of the biggest pre-owned watch dealers with hundreds of different watches and offers online but they also gave me a special promo code for my viewers so when buying a watch at chronix.com you should use my code jenny special to get taken off up to two thousand dollars on your next purchase i myself bought my lovely yacht master 37 from chronix and i'm super happy with it they have in-house watchmakers who check every watch that is coming in and going out so you don't have to worry about authenticity at all they ship out watches to almost every corner of the world but you can also use their worldwide pickup lounges if you want to so make sure to use a jenny special on your next purchase from chronix until the 31st of august to save money on your next watch okay mistake in number two is unfortunately the no longer so rare occurrence of unknowingly buying a fake watch i'm sure at this point most of us have seen these fake watch sellers when we're on vacation you know selling these fifty dollars or likes fakes that are pretty easy to support but nowadays for about 500 to 600 you can also buy recruiters even professionals or you know actual watchmakers are having a hard time telling apart from the authentic one i mean you can see it for yourself i have reviewed and even opened up a couple of these watches so if you're interested in that you can watch my real versus fake videos that i put for you in the description box down below but it can get even worse there are these so-called frank watches you know the name taken from frankenstein's monster that mix and match authentic rolex parts with replicated ones so like a mix and match of fake and authentic stuff assembled they would cost someone about five thousand dollars but with prices on the second day market these days one can sell them easily for like 20 000 or more depending on the model and watch if you find someone who isn't able to tell the difference or hasn't got much experience with watches so i guess the moral of these stories is that it is good to be smart and careful when buying watches make sure you're well informed and can trust the offer and the seller i guess a mistake number three is something a bit more general as it can apply to lots of other things too and it is wanting something so bad that you start making dumb choices or decisions especially when buying watches this can get very tricky buying watches is almost always a very you know emotionally charged purchase i would say so you can easily you know subconsciously trick yourself into thinking that something is a good purchase without it actually being one i mean let's take me for example last year you know around full i really really really wanted to get enormous i mean i wanted to get enormous for a long time so on a whim and because i felt particularly spendy that day i went to one of my id's and looked at enormous it didn't stock the one i you know originally fancied but i found another one that looked amazing so i started the usual back and forth discussion in my head with myself but i already came into the shop that day having my mind set on you know not leaving without watch so i knew it was lost from the beginning and then on top of it it was also the same day where ads were stocked with the at that time you know latest release from august the aqua's up cycle and i just happened to come across the press release earlier that day so seeing it in the flesh was even more exciting because they showed it to me so you know to make it short i walked out buying both watches even though i didn't really have the money i went ahead and you know it was bought two watches need of which i initially planned on buying luckily i was able to still somehow pay my bills that month but yeah it's definitely something i do not plan on doing again these watches are great but still so please don't make the same mistake i did and only buy with the money you actually have right let's get to my next point paying too much that is mistake number five and now you're probably like oh wait jenny didn't you say point number one that you should rather spend a bit more to be you know rather safe than sorry and yeah i did say that but what i also mean is that you shouldn't just you know away money since someone has money to hand out like that i'm all right good so here's the quick breakdown of what i mean with this most watchers expect for you know a few brands like patek or wool eggs are usually more affordable when buying pre-owned let's look at an example so here we have a iwc portofino automatic with a retail price of five thousand and fifty dollars but if you're doing a bit of a marketplace search you can find offers starting from four thousand five hundred dollars if you want to stay within the us which is already ten percent less and if you you know scroll down you'll find even more offers way below that so yeah again don't just blindly shop for either the most expensive or the lowest offer but be well informed about the overall pricing depending on the option and find a reputable and trustworthy source to buy from so you do not spend more than you actually have to oh and don't forget that authorized dealers so ladies are sometimes willing to give a discount to so you can always you know politely ask if you want to okay this one is a really dependable on where you live so please make sure to inform yourself so of course we are talking about tax evasion it's not unusual for some people to buy watches while traveling especially these you know airport boutiques tend to be very popular because they don't really have regular customers due to them being well at an airport or when you're out and about on vacation in a different country and tattooing 18 hopes to find your new favorite watch there because sometimes prices can be significantly cheaper compared to your country of origin where you come from and where you live but please please please make yourself aware of the tax situation in your country and how you have to deal with you know expensive items you bring back into your home country when you get back let me give you an example here a couple of years back and i went on holiday outside of the eu and went into an a.d we looked at you know a couple of watches that we liked and we were thinking about buying one and when we asked about the taxes and what to do with it when we come back to germany the sales associate told us to you know just simply put the watch on your wrist and just you know walk through security and that they would mail us the box and papers afterwards we weren't quite sure if that's legal so we you know stepped away from the purchase and thank god we did because that would have been text evasion if we just pretended like nothing happened and just walked through security and here's why i live in germany which is part of the european customs union so whenever i buy something outside of that union i have to pay 90 tax on it to make up for the difference if i do not do that and get caught i at least have to you know pay double and in worse cases have to you know go to court because of tax evasion and it's not like customs investigation officers at airport don't know what to look out for um we have been stopped several times and asked to show receipt for our watches so they know where we you know bought it and when we did it and they they do check for everything tax is paid on it the serial number matches it etc so don't think you can be sly and trick them it doesn't work and it is never worth it so yeah i'm repeating myself please make sure you know exactly how to properly handle watch purchases you make outside of your country of origin when coming back home sometimes you know great offers someplace else turn out to be true nightmares when you realize how much you have to pay back in taxes right let's talk about mistake number six and that is making false assumptions about the worth of your watch or thinking your watch is an investment in general and yeah there are layers to that statement so let me quickly explain what i mean by that i'm sure we all hate to burn money so we tend to justify our watch purchases by saying they can be you know potential investments i mean i do that sometimes and so far you know it has not been the end of my world but there are two sides to that the first one being is that you blindly buy a watch with money you don't really have expecting it to either you know go up in value or that you'll be able to securely park your money that way and that you'll easily and quickly be you know just able to get the same or more money back when selling that watch you know like you see your watch being offered for like 20k on chrono 24 and thinking you can easily make those 20k when selling it which is simply and unfortunately just not the case most prices on online marketplaces are slightly or sometimes heavily inflated since you know dealers have to not only pay a fee when offering and selling their watches online so they put that on top but they also have to factor in other costs into that price like you know haggling etc it is safe to say that you could always deduct at least i say 20 of your initial price know what you can expect to get back to not get too disappointed because on the other side if you do it that way you will have a better time you know reinvesting that money into different watches to be able to switch up your watch collection should you ever want to do that and not needlessly a burn money doing so right lastly i want to talk about something i'm sure most of us if not everyone has experience at some point and it is as simple as it is a total money burner and that is being impatient and this can negatively affect not only your buying but also your selling process when it comes to watches i mean i touched on that when i talked about mistake number three which was wanting something a bit too badly to you know think straight when you start getting impatient you start missing all the important points you should be taking a good look at in order to not make any mistakes when buying a watch i mean common sense goes out the window because it can sometimes be so highly emotional when buying a watch that you end up in the worst case regretting a buying watch at the end and not being able to enjoy it properly and the same goes for selling a watch especially if you want to sell one to fund another most times you have to be a bit patient you know in order to find the right buyer for your preferred price but it's obviously worth it but if you have already set your eyes on something new and you cannot wait to get your hands on it you're easily tempted to you know let go of your old watch for way less than you initially planned on and nobody wants that let's be real right and here we have it seven of the most common and expensive mistakes you can make when getting started in this hobby i have had a lot of new people joining this channel recently at this fine lovely welcome everyone who's new and welcome back if you've been here before so i wanted to take the time to get this out so there are few people out there making bad choices and regretting them at the end but if you follow everything i have just mentioned there should be no problemo and you're good to go in case you have any more questions you want me to answer make sure to subscribe to my channel as well as follow me on instagram you can find me there at jenny l so you do not miss when i put the post up for my upcoming q a's in which i answer your questions and that was all i have for you today thank you so much for watching this video if you have enjoyed this make sure to give it a thumbs up and hit the bell to get notified whenever i post something new and then until next time thanks until next time bye

Channel: Jenni Elle

Views: 97,673

Keywords: rolex submariner, beginner watch buying mistakes, watch buying mistakes, watch buying guide, best watches 2022, watch collecting, watches for beginners, watch buying tips, watch review, luxury watches

Id: gPEWH2h48WI

Length: 15min 7sec (907 seconds)

Published: Sat Aug 27 2022