EXCLUSIVE Interview with a Watch Dealer - Edinburgh Watch Company - Rolex, Omega, Breguet

[Music] welcome back what's a fallen out today arm up in the beautiful city of Edinburgh I've traveled up from the South of England today to talk to my very good friend Jonathan from Edinburgh watch company Jonathan hello thanks for the invite welcome to Scotland yes lovely Tevere my friend it was an eventful journey we just got over that storm and it was a bit a bit flighty coming up but I'm glad to be yeah okay Aras being quite a bit of a rough one hadn't we had snow last night yeah we brought you a little bit of Scotland up here yeah but what do you think of Scotland so far you'll see lovely I mean yeah I had a chance I really will look around last night and I'm impressed it's a lovely place my first time sweating bro so yeah picnic let's go a couple of times and but my first visit to Edinburgh I think I'll probably be coming back in the summer when it's a bit warmer yeah it is it but it's a greater greater age it's quite small compared to I think London where yeah yeah yeah absolutely so I mean my main reason for coming up today I mean we met he was aware of each other before the Brian watch show but and we've been speaking but when we met at Brian knows out so first one someone if you like and I was particularly impressed with the way that you appeared to be conducting your business and we've stayed in touch quite a lot since and I wanted to take this opportunity really to introduce you to my viewers more watch people that follow my channel as one of my own personal trusted dealers because I think in the world of what is right now and particularly probably particularly potent at this particular moment is that we need some more trust in our business I think we need to oh I want to get it over to the people that watch my channel that there are some real good watch dealers out there and I consider that I'm sitting here with once a day so the first question for you is tell us about your journey how did Edinburgh what's company actually come into existence and what's your background it started a long time ago I've lost count now but I think I'm about 55 I love watches probably from ten eleven years old I can remember that that first watch I had and I guess progressing from secondo x' to Cassio's to speltzer's to seekers and there was just something there for me many many years ago when I was 23 I went out and bought my first rule X as a princely sum of 800 pounds which was a lot of money to me then and it was a Rolex Submariner so there was just something there and interest in me that love watches yeah and that love of watches has continued really for the last you know thirty thirty plus years watches was something that you know us as guys we you know we like to him by we get bored we going buy something else and so I you know spent years learning about watches as I'd gone along from different brands I was never a brand snob it's just if I liked it I would buy as a hobbyist really yeah absolutely as a hobbyist I started off with a career going into farming worked on a pig farm for about six months there was a very smelly time of my year of my life as it were and I decided that that wasn't for me but I guess like many guys and guys watching your channel today Paul I love cars too yeah so I went into the merch trade I spent about 15 years working with various luxury brands there Aston Martin Volvo lotus Bentley etc which was great great fun yeah and then after out 15 years I had the chance to join the Royal Bank of Scotland where I spent 18 years in a variety of banking roles but in 2014 I got made redundant so that was well I don't know when you're working in big corporate life I think that can always be at the back EMI yes or something it's not as sort of safe as people might think I'd been through two redundancies in third time it happened and my natural position was do I go and find another role as a banker plus 49 years old and I thought do I really want to go and do that I would of ideally to do something where I had a passion yeah a passion for watches and ideally something were involve people and so that's what I wanted to do but it took a big brief pill and you'll know yourself you know having started your own business coming out of a corporate life where you're being paid to suddenly doing something where it's got to be successful I have a family and and so forth that that was that was quite scary so you made the decision to go from Regan redundancy yeah into the world of watch stealing so Peaks they're a brave move it was I took a brave pill that didn't work I took about a bottle of refills everybody encouraged me I got a payout from the bank I had a little watch collection I've been here in Edinburgh since I was about 11 so I know quite a lot of people so I think I wasn't quite a good place yeah and I just thought right let's go for it so we just Admiral Watch Company was formed in September 2014 so we're sort of five and a half years old so scary but a really really exciting journey so looking at your business and your brand as it were because I would say that you've even even though your business may still be in a in a way in its embryonic stage you have actually managed to build a decent little brand up here such a relatively short period of time yeah I've tried to I've been in I guess sales and marketing type roles in the bank and again relationship management roles so yeah that that whole people perspective was was always at the heart of what I do interestingly when I thought about what I do I thought do I go down a traditional route of going at a shop yeah and try and build it that way or not and you know that sort of age in life you you can make these choices and I thought well actually no I don't want to go to a shop every day and again I'm not knocking those who have shop yeah it's each to their own but I thought I'd rather have a business that allowed me to meet people face to face quality uninterrupted time with them yeah I don't it's not about having a big chain of shops just something one-to-one and that's the way I've built it and I think probably quite lucky compared to the time when you start is probably many ways being easier for me it would have been for someone like yourself that started 30-plus years ago because we're in a digital world now yeah and therefore I was able to say well how can I get this new brand that nobody's heard about out there not just here in Edinburgh but UK wide and perhaps even internationally and so I was able to look at Facebook and Twitter Instagram the web of course and YouTube for example so it's a matter of trying seeing what works etc and then also taking the brand out there not sort of hiding behind the internet but getting out there and letting people see me my company the team that worked with me and the products we've got and that is the essence of what I've done over the last five years and that's work that's worked quite well but I think you can't you can't be standstill you can't you've got to continually evolve etc and and I have a small YouTube channel which is very different to what you do but that's something that I'm trying to make better and better working with Scott now who's behind the camera and always challenging each other to say look how can we make this better how can we make the the imagery better because there's them in there's some great videos out there I'm sure so how difficult did you find the transition between being employed to becoming self-employed and you know having the responsibility of feeding your family basically through selling what is I mean how did you find that transition that was it difficult one for you because a lot of people that watch my channel you know I say to me oh I'd love to become a watch dealer how do I do it what's the best way to do it I mean I've I've just recently made a video to five things the five attributes that you are gonna 100% need to become a what stealing millionaire and I would give the same advice to everyone but what about you how did you find that transition from becoming four from being employed to literally having to rely on what sells for your living I think I was concerned yeah and you know something I don't think that ever goes away and I think if you do let it go away you could be in I agree that's the key thing I think it's about values yeah it's about doing the right thing it's about again if you can do something you love then you've got a perfect job and if you can you know get an income from that that's great I guess there are three things to do what I do it's around my love of watches I'd really enjoy meeting and building relations with people and if I get those first two things right and that generates an income to support the family then job done it comes over a lot I have to say that your love of is probably far greater than mine if I'm honest but I'm a bit maybe I'm a bit older in the toph me in the general public but your love of meeting people and forming relationships with them comes over heavily to me I perhaps not quite as in love with people with you appear to be but you're very much a people's person it seems to me anyway yeah I think his watch is there a discretionary purchase aren't they yeah I know if we want to tell the time we can we can look at our iPhone for sure your customers have old my customers today and an hour your audience your watch people we're buying watches because we want to because it's it makes us principally feel good in them if you're being bought a watch by a partner it makes them feel good it's a lovely thing to buy and we sell dreams don't we yeah you got it I play a tiny little part yeah in helping someone's dream come true with these watches and I think therefore I love that part of it I think you know again moving from being paid to my own it's something I think if you really really focus on quality and you really really focus on service you've got to have a a commercial and a marketing mind but I think if you keep operating like that yeah then okay there will be yeah I mean we've got brexit we've got the action we've got the the gyro we've got things that have gone on let's focus about the last few months with watch finder sale yeah we've got youtubers saying their piece we've got the unavailability of stock these are the sort of challenges that we feel but there are no different than any other business sell fast moving industry now it is yeah and 2020s of I mean years ago it was probably quite a slow moving industry but these days we've obviously the internet YouTube etc etc and so many events happening in a relatively short space of time it is a fast-moving industry wall do you saw you I mean if you discovered anything being you'll have to excuse me for sort of thinking of you as a relatively new yeah I'm at sort of bit yes because there's a real old hand you know six years seems quite a short period of time but during that period have you found anything about a watch business that you don't like is there anything that stands out in your mind and you think you know what I really don't like this about this business I I think it's there's a lot of new watch dealers coming about now which is great I think and it's great for out for our customers as it were cause they behave themselves absolutely yeah absolutely I don't I don't there's nothing I've really said I think it's I think it's obviously there's a lot of competition out there yeah I think some of the manufacturers likes Rolex then that they're not making it easy I think you know we saw a couple of years ago that this whole thing about warranty cards been held back yeah what do you make of that well if I was a customer that went in to buy a car they didn't give me the service book I wouldn't feel great if I went in to buy a watch that I almost felt privileged to be able to get and then I held the warranty card but I wouldn't be entirely happy I suppose if I was a genuine customer buying that watch to wear in a way it wouldn't really bother me and and I don't think it was a good decision I think it mean it wasn't a Rolex strategy it was I won't mention the company name but you know was a large group that made that decision obviously to try and stop flipping that reduced the watches even more into the marketplace and push prices up even higher and I think it was simply pushing people away from the brand and I'm really glad the Romans made that decision to stop it yeah the customers now got their cards but not even just that bit is that you know you could go out and buy that watch that you've saved up for it's that dream watch and you don't get the card circumstances could suddenly change for you exactly now that could be business gets difficult you could have a split up any such reason where you need to sell your watch because let's face it all these watches here they're you know buying the right watch that their collateral you could you can realize them particularly Rolex very very quickly and and they couldn't sell their watches and he's if they could they would get significantly less or they would get money held back so I don't think that was a that that wasn't a wasn't a good day swiftly China didn't they really I mean they don't were that reasonably rapidly really yeah bad decision from the off in my opinion yeah definitely so going back to my question have you found anything in specifically that you would love to change or that you don't like about the watch business or anything that bothers you you wake up in the morning you think you know what I don't like this about my particular business not really no I don't think so I think it's you taught think it's fast-moving now yeah I think any businessman whatever industry their own they've got to adapt to change I think you know with some of the things that we've you know you talked earlier about trust I think Trust is the key thing and it's something when I started off I thought to myself I'm a small business that nobody's heard of what can I do to portray trust in what I do and that's why I started my YouTube channel and that's why I do like personal reviews of watches yeah to allow people hundreds of miles away to actually see me and that actual watch that they're thinking about buying and so I think as things do change and it's just a matter of just looking at everything that you're doing and trying to always just push that little bit higher by means of the quality of doing and the service you're offering and I think if you do that then through time organically your customers will grow your customers will come back and interestingly again is from a business point of view I look back at lot you always look back at last year and say well how's last year being what could we do differently I was gonna say Airways business now I mean now how do you find it you know early 2020 by comparison to say last year how are you fighting I mean I think to be totally open it's it's slower than I was last year it definitely slower and and I think that's probably fairly fairly general yeah I think well particularly this time year was shooting this now what in February time I think people are getting Christmas out the way they're paying they're paying credit cards off I think that's been with the election with the Euro with everything that's going on I think it is taking time to sort of get going again but that's okay that's just cyclical and I think a lot of the high street shops will probably will feel that more so again I think that's just an opportunity to stone to relook at things because actually when I actually look at you know Instagram and Facebook I think I've got around about thirty four thousand followers now which is it's quite a nice number yeah I wouldn't say Instagram is working for me in the same way that it is for some of the other big dealers I know there's two or three dealers out there that literally aren't using their website any more then purely just doing on Instagram and fairness they've got 120 to 300 thousand followers so it's absolutely huge but as you talked about change it's interesting to see where the markets going so Instagram is is playing a big part but I think it's helpful for awareness but in fact when I look back where all my business has come from the majority it was actually coming from repeat and referral and the web and from YouTube they're the sort of main sources plus also events etc yeah I mean word-of-mouth is obviously for me at least when I was working as a watch thing of word-of-mouth was always probably my best ever marketing so but I want to talk about something not difficult with such because we've touched on it briefly before we started the video we talk about challenges in life Jonathan and watch stealing being a challenge etc you know you as a individual you've faced another challenge in your life and I know you don't mind me bringing it up and the viewers will obviously like to know when I met you in Brian it was it was obvious that you are in a wheelchair has that played any role was it made it more difficult for you as a businessman and and if you don't mind me off scheme yeah how did that come about sure it happened back in 1997 Paul I was a really keen motorcyclist I was out riding with some colleagues from the bank down a road I knew very well and unfortunately a corner had nearly fallen off a couple of times before caught me out the third time and had been raining earlier in the day the road had dried off I went into the corner and the bike high-sided so effectively it flipped me off the bike and the bike then follow me down the road and hit me and it broke all my ribs broke my shoulder broke my wrist and broke my back and effectively paralyzed me so that's what put me in a wheelchair so that was a massive change in in life not just for me but for my for my girlfriend who then became my wife and I'll be around me as well but I look at it in a way that I was very lucky that although that I was about 31 years old somebody up in the sky there changed my life but they gave me a toolkit to go with it and to this day I'm very blessed I've not really had any negativity I've I'm very lucky it was a positive way of driving through things so that that got me through that situation it allowed me to continue a career in banking and it's not really stopped me doing what I do today and that's one of the nice things you know can you know watches are quite a portable thing too to operate whether I don't have to rely on anybody else for the majora what I do and I'm still pretty active although this stomach wouldn't show it I do when time permits play tennis and cycle and ski and driving I'm a big petrol head as well yeah yeah driving is a big thing for me so a lot of our viewers will be big petrol way yeah signage myself absolutely and so it is it is what it is but hey this stuff's all still working and and it doesn't stop me doing what I'm doing so you know we just crack on with it and and you know what Jonathan again it goes back to my five key attributes that you need to become a successful what's there and that's determination you know never never let lose sight of your goals your ambitions I've seen so many people come into the watch business and one of my biggest signs is has always been Talk's cheap it's all cost nothing but actions come be of be very expensive you understand where I'm coming for many people like yourself you know you're the determination that you've shown throughout your life really to get to where you've arrived that today is a mess if you don't want me saying sorry sir a testament to yourself and your family around you thank you I listen I appreciate that it is very much around who I've got around me yeah very lucky I've got an incredible family next figure you've made that very yeah yo ace and my wife Evelyn I couldn't do what I do without her you know she supports me in the family and allows me to to go and do what I do because I think it's you really need to win you when you start your own business you really need to get your head down and it does it does consume you yeah absolutely as a 20-hour though sometimes yeah it is yeah but but and I think that's one of the key differences for me I am totally in control of the end-to-end journey from that very first phone call so when I'm handing that watch over and there's something lovely about doing something for yourself in that manner you know so I love it I really do enjoy I see a bit your business you know Jonathan this is what I see it it's quite unique about the way you're operating this business you know in a world where watch watch the others are almost to a penny these days the very best dealers and I must admit I used to include myself in that really when I was working I had a very good way of working but you're making the buying experience very bespoke it's very unique to your customers you're doing what I always describe running as a very small but very tight-knit clean ship that works from the bow to the stern does that does that make sense yeah it does every watch I buy every watch is bought by my company I am buying myself when that person calls me by phone or text me or whatsapp or however which way in which they reach me they just talk to one guy and so we have that one-to-one yeah so we really get to understand about what they're selling or they're wanting to buy I've got currently probably 50 60 watches so I'm not a big dealer and I'd love to grow that in time but they're all bought and I guess it's probably where the enthusiasts bit comes out if I don't like it I don't buy it yeah I've got to buy something that I believe in that I think that's a beautiful watch and I think you'd like that we only buy watches with all the provenance I'm a real stickler for that if I showed you a watch yesterday I had that date just the gold one beautiful watch but without the original papers it's not for me now each to their own and I'm not knocking anybody that sells watches without papers I just like everything to be perfect because from a business point of view yeah you know I have to say I've gotta be honest I mean I think that will hold you back yeah but it's a personal decision that I can't knock and the viewers won't knock it over because they know that every watch that they're going to potentially buy from Edinburgh Watch Company he's going to come as pretty much as a full set of all the provenance I mean on you know you've bought some stock here a long term that you know I have to say that everything that I've seen is well frankly most of it looks like it's brand-new so it's the way it's the way I would want to buy a watch here and therefore if I prepare a watch the best it can be we know when we get a watch is about knowing who you're buying from as well it's about trust it's got to work both ways and so we're quite keen to understand who had the watch all about its history we buy the watch majority the time I'm getting to see the watch I'm sitting one-to-one with a person before we do that of course we use the watch register so I know you're a great ambassador for yeah so that's a great now you know the absence of the Rolex registers the other thing that Sabrina that's been a really good thing for me and I think so we check every watch against that so every watch that you're buying and selling it's all going through to watch register checks before yeah it's part of my buying process we just we put the model in the serial number and we get a certificate sent it so must me although yeah I think so and then again depending upon its age you know if the watch is if the watch is anything but perfect it gets sent away when I say put I mean like an unwarned watch anything that has been worn I send it away to my watchmaker they have can't Blanche to do with a watch needs if it needs a service it gets it if it doesn't need a service it's all regulated prepared absolutely properly and it comes back and as you can see they're presented as new I sell quite a lot of watches throughout the country I think I've had one watch back in five years because a bit too small for someone's risk but don't really get watches back and that to me is very very important particularly you know because customers can see what you do with the reviews etc and the reviews again that's been quite a powerful thing for me yeah I looked at your reviews before I came up for the purpose of the video and I have to say they quite remarkable I mean I that's very hard to keep that level of quality it's the my view is this is that you can't please all the paper all the time and I had a shot for many years and I remember I think I was telling you this last night I told one of my staff members she was dealing with her customer and he left and she was she looks at me she was a little bit upset because she felt that she hadn't quite preps kept this customer as happy as I were one or two of them and then when he left I said to her look I heard the conversation this is someone whom you could give a watch for free and on his way out give him a 50-pound load as well and he still wouldn't be happy yeah you know you can't please all the people all the time so it's a tough job yeah I you can only try your best and I think that's again I think that's part of that initial call us about understanding what's right there's not necessarily just selling what you've got it may be just through that conversation you actually say actually having listened to you I'm not sure that's the right warning way and I might not even have the watch you're looking for but I genuinely hope when people have called me engaging me somehow that they get that feeling it's about I'm really just trying to find what's best for them I'm only going to be happy when customers are happy and if I sent somebody a watchin if they loved it if it wasn't for them they can just send it straight back to me and that's just the way with the way things work yes it's amazing now you sing from a song sheet I've been trying to sing for many years oh I mean never mind about what is yeah this is about life in general for me mark in being in business the big thing I used to say to my customers when I used to come into my shop was look I may not be able to sell you anything today but I want you to walk away with a good taste in your mouth because you will tell other people yeah and I just can't get my head around how many people come into this business and we've seen an example of that we won't go into it too much because it's been done to death but we see a a very good example of that in our own community on YouTube just very very recently and it blows my mind the shortsightedness is just unbelievable I just cannot understand yeah briefly give me your take on what occurred with horology else yeah well I I have to say I'm Scott and I have been you know talking about that as a as a YouTube channel I mean great YouTube channel beautifully presented videos leading-edge photography I watched those videos with interest I was you know III subscribed to him and I thought it was really really good I I was quite shocked by means I didn't kind of want to believe it he didn't really seem the sort of person that would do that but it would seem you know for the information I've seen that that was all true and again maybe I know that Scottish Watchers recently did a an interview with him which was great to hear his side of the story whether Chris will actually come on and give his side I think everybody deserves a chance to give their side of the story but from the way it looks just now I think his actions by you know pulling down the YouTube channel and every channel to communicate with them I don't think that's the right thing to do but I think and there is someone in a position of trust really yeah when and then they do that it doesn't really make it easy for the watch industry when that hurts all yeah it does does so I think if that is a lesson if that's a sad lesson for just people it's just about being more mindful of who you're dealing with and I think and that's something that whether it's me or any company I'd really just encourage people just to look beyond what's just in front of you that when you know when you're dear and that's it's a great big group like you know watch finder or goldsmiths or watches of Switzerland a bit so it was a smaller business just look who you're dealing with anybody's welcome to look at my company they can look at Companies House the reviews are I can't touch the reserve views they're on up there on a big platform everybody that buys a watch to diligence isn't it I mean fairness in fairness is there's a couple of points that I want to I want to make is that first of all from what I understand at least Chris wasn't a watched theatre no no I didn't say watches okay no no yeah he was a youtuber who turned out to be selling dodgy what ease so that's the first thing he wasn't a watch leader as far as I know I'm sure you know if I'm wrong someone will tell me but I didn't see him as a watch dealer and the second thing these and and we'll probably leave it an act which decides been done to death but for me the one word that I want to use because he needs to understand and I would love to hear his side of the story as you said rightly everyone deserves the right of reply if an accusation he's leveled at them but the word is betrayal he portrayed or it looks like he betrayed every single one of us in the watch business because the ramifications are footwork their way right down sort of very bottom of the pole you know even some very small dealers independent dealers who are paying rent rates in shops and you see the messages I'll never buy a watch from anywhere other than an authorized dealer again the trial is the word that I would use and have used yeah I think unfortunately for what I see he was a bad egg but we will we won't forget this but I think I think it's about how we move forwards now there's a lot of great YouTube channel there's a lot of great businesses out there really good businesses and I think let's go back to when we first met I mean I I found you on the internet or your YouTube channel and there's something I I just kind of liked the fact your you're a retired dealer and you're just giving out all this advice now and so you know coming down to join YouTube right and watch show that was my first ever watched shirt yeah it was really it was really good and you know we've gone and I can't get a good experience I loved it yeah it was really really good yeah I think I hats off to you for what you achieved it had a really nice feel about it and I think I know you're a real detailed guy and I think you thought of everything really as much as you could troit you weren't trying to put on this huge big show but yeah you did the important things I think you gave the customers you know a good experience yeah I think you made it safe for them you know with all the security add and the fact you can't you wrangled some of the fraudsters that even came in which is very clever and I think it was really really good fun what you did and that's of course how we got together and and I just I think with the values that you have and and I have it just that's what sort of worked and now that you know you've kindly invited me to become one of your sort of trusted traders within your watch community and you know working with Spencer and Chris and others and I think that's that for me is you know we talked to her about marketing and about trying new things so he coming to the Brighton watcher was was an example of that of course is the London what sure there's more shows that are gonna be that gonna be coming up but I think you know the community that you've got on the back of that show we met some fantastic people who bought watches we got a number of course following that because people really believe buy into what you're saying the endorsement you have yeah so I really really appreciate that and I think now with what you're doing that's when you're not doing your comedy which I thought that was rather good actually I quite enjoyed the do over say to you yeah me more not ugly I know it can be a bit serious at all I thought that was hilarious actually but now I think with the I think with the forum that you've built now I think there's some really exciting things there so I'm really quite excited to be a part on that actually and I think we talked last night about you you know giving the opportunity of some of your sort of trusted dealers to put some of their watches on yeah I think a quite a quite a nice thing to do so this is why I'm trying to throw I think the channel for me the channel is all about I mean you know there's always disbelievers yeah but the bottom line is is a Talk's cheap so I ask people to look at what I'm doing and look at it from a factual viewpoint and if you know it's not about money for me it's about building a community where people that people can sit within and feel comfortable yeah whether that's information that we're giving out on YouTube now I'm not saying that all the information that I give out on YouTube is correct I never pretend to be the world's biggest what expert why do say is is that every experience or offer has been proven to be correct in my life's experience as a long-term watch dealer and when we met I saw instantly your connection with the watch buying public and it reminded me very much of myself I think your relationship with your customers actually seems to be more important to you than the sale and that was really for me when I was when anyone came into my shop it's almost it's almost the disease I wanted to send them out saying you know what that's a nice bloke he's a good guy he's like deliberately undersold me or he's sent me away and I but but that's not me being super nice that's me being a clever businessman I also know long-term that's gonna work yeah I have to admit I get a real kick out of seeing a happy customer response ah yeah yeah it is a drug it is and again these aren't things they need and and you know meeting the couple we met Abby you're sure yeah they bought three watches there and it was it was they just loved them you know I guess we've got all these watches here in front of us Paul yeah we haven't really talked no I know I know is you I picked out a watch for you earlier I gave you the chance to pick out a lot before I go you yeah the brigade what do you think of that beautiful I mean understated it's a some degree yeah what is all I wear just a very very attractive piece brilliant the first thing that comes to my mind when I look at the beggar 21 is the sheer value for money yeah what you're getting for your money by comparison it's a beautiful piece I mean you've got you've brought along some lovely what is today I see you've got the James Cameron there I'm wearing my one I've got that one well I know you hard to detach if that I think that yeah the brigade the the range of watches I have a quite diverse really yeah so I think you've got to think well what are we going to buy this gonna sell really clear I mean of course that's your Rolex yeah yeah some of the date just forty ones but I like to have an interesting collection as well and I think that breguet is a very very good example of why buy pre-owned hmm I mean that is roughly 20,000 new yep that one I think is 2015 something like that yeah I think you'd agree it's like new it's mint it's and it's it's like 9,000 less 11 half thousand pounds and I think it's just a great there's some really good value watches to be had out there but just brought a few examples along to show you you talk don't you quite like that Amiga yeah lovely Amiga yeah I'm not the world's biggest to make a fame but I love to look at this particular what is her beauty yeah it's a really rare one it's the the Omega Seamaster Planet Ocean and it was made by Amiga to commemorate the success of Michael Phelps the Olympic swimmer yeah and it's one of only 280 in the world so a really really rare piece and I think that you know that the plantation a big chunky watch on a bracelet but it's on the strap it really feels quite nice yeah that's another one that I was gonna say tell me about the tank yeah well it's a it's a tag moniker and it's the the 50th anniversary watch and to celebrate 50 years they brought out a collection that one watch every 10 years yeah so I was able to get that sort of beautiful claret red one last year and just got this one this is the last of the rain just the last the last ten years and tag Monaco chronograph with a lovely sauce satin finish and one of 169 in the world so what are your number one sellers I mean obviously I guess that the vast majority of the calls that you get it's gonna be about Rolex but what are you looking to buy and so in general what's your ideal hurtis and I think it's it is mainly mainly Rolex pros we get sold off some toys for talking about Rolex too much indeed I get offered quite a lot of watches I probably turn down about 7 out of 10 I should clarify well what does that mean I could be offered 20 year old tag Hoyas yeah well I could be I've got to fundamentally buy something I think I can resell mm-hmm so Rolex is what I'm buying most of it's very much what we do every day again they have to have all the books and papers I've also got finance facilities as well no I couldn't get that for two years that's massive isn't it that's massive to be able to offer your customers I think so again aids facilities we've just I just tried to think well what can we do to help get customers what yeah I never did that out yet work does it but this it works seem to work for you um I don't do a lot of it yeah and it is they're very much as something to help a customer yeah to watch because these watches are an average price seven or eight thousand pounds yeah there's a lot of money yeah just to have lying around doing nothing yeah you can put a deposit down of ten percent of the cost of the watch and funder over three years and it becomes shall we say a bit more affordable and we don't do a lot we looked interest-free credit but it was costing me 9% of the value of the watch I couldn't afford to do that not with the margins I work on so the best rate I could get was nine point nine percent and I still pay one percent but it's because of the risk associated yeah but it is there we use attached finance and we don't do a lot of it but it's there likewise we've also got credit cards as well and again I think that's something when a buyer is looking at a company look at their whole offering because if they've got a credit license you know finance license or they you know a limited company do they have credit card facilities do they have a website look at their social media footprint look at the feedback look at them on Companies House you talked about diligence earlier and these are sorts of things which well you know all of your trusted traders will have mmm so they're they're a reasonably safe place but I think that's just something that's so important and therefore you know that the the guys who are sadly dealing with you know horology house and perhaps others a they've been buying privately so there's always that that risk of buying privately versus buying from a dealer it can go fine but you know ultimate you'd want to buy it a little bit less expensively than a dealer because you're you are carrying that risk do you get many what is that are offered to you on a commission basis do you you like to take what's in on commission or is it or do you prefer to purchase all your stock majority of watches I'd like I don't have any watches on Commission just now I have had watches on Commission before but they're generally the more exquisite because you can work that corner the customer I think so you've got to wear three hats when you're doing here you know I've got to do my best for you selling it watch but also my customers trust me yeah and the price that I have that to be a fair price and then I've got to make something in the middle so I can't over charge and you know I've got to get that there right so I don't do a lot of it but occasionally I do get it but majority the time I'm just buying watches for stock but that's you know that's challenging yeah you know there's there's there's a lot of the big players out there now who are extensively advertising in television press all sorts of your media to buy watches and and and often when we Russ offered watches there you know that they're being offered to a number of people to and therefore to try and differentiate I its that service that I can perhaps give whereupon I can meet that person face to face they haven't got to post that watch away and as long as it watches as described I'm not gonna chip it back as long as we do all the proper diligence surrounding it's a good genuine watch we check it against the watch register we meet them face to face and we'll pay them by bank transfer you know while we're having a coffee together they've given two forms of ID so we you know we've we've done that bit properly yeah but no I mean it would be lovely to get more but it's just getting the right stuff and I think the other thing too on that is we talked earlier about the markets changed the market has definitely softened you know some of the key watches rolex sports watches prices have come back a bit but well we know that i still think there's a lot of the market that haven't quite let's be clear talking about I can say this you know we're talking about the general public yeah the general public who are selling you know in that parody video I did you know all these signs are in there if you watch it carefully you know it's the general public are still looking for every last penny yeah and maybe fuse to understand the market has softened a little bit based not ridiculously I mean we've gone from ridiculous suggest crazy or crazy to ridiculous whichever way you want to put it but the general public don't always get that when they're selling hence the jovial figures I gave you know I want how much do you think my sausage I thought watch it's quite nice as well you know it had some character on the dial and the only bit mean what you offered them you know a bit of honest where and say absolutely so yeah I think again this is part of that again when people are calling me that they're getting straight through to the owner of the company yeah they're not talking to a company that's got hundreds of staff it could be anywhere in the country that's actually a buying team but they're just a buying team that's buying a watch I'm actually really interested in the person and the watch to make sure it's the right one and I'll try and be fair and give as much as I can and also just take the time just to chat about the market because they may have just seen that watch on another big website at a price so where do you see the market going this year Jonathan where do you think I mean we got basel world obviously coming up but how do you see the watch market moving on in 2020 yeah I think I think once we go this Christmas period once that it's all gone but behind us now I think the excitement's going to be there football I think will be really interesting to see what collections actually come out there I still think it's going to be a good and strong I think there will be some great new watches coming out and and what will drive that it's not just the watches I think it's just the overall increase in the numbers members of the public having an interest in one bond yeah simple apps only yeah why well because you know those that have got some money then they're not going anything on in the bank I think there's such an excitement about watches now and I mean what in 90% of watches I do offer for guys it's what we like is what we like to wear whether we're increasing or reducing or changing or whatever so I think the market is definitely buoyant as I say I think there'll be some interesting collections coming out but it's not just about the new pieces as well it's you know it's the vintage market I think is growing we'll go through one it's all those in a second if you don't mind but just something I wanted to point out and this is my I'm just my own personal view and something that I've sort of seen it myself over the years is in the UK I think watch appreciation has gained a lot of momentum in the last a lot of heavy momentum in the last two or three years and I'll give you an example if I go back 10 or 15 years and I would be walking around munich city centre probably one in five of the many Munich in Germany were wearing a Rolex or a manga or whatever they're wearing a nice watch and it wasn't quite that way in the UK the numbers weren't the percentage wasn't as high but that has changed now more and more men in the UK appear to be a pre Shane their luxury timepieces now obviously there's always been the diehards like ourselves we've always been wearing nice what is buy do feel the popularity is increased particularly in the UK and perhaps also in the United States as well because I think there's a lot of parallels between US and UK wearers whereas in certain parts of Europe switch than Germany they've always been good watch wearers that's my opinion and I think also like cars you know majority of new cars that are being sold these days are on Finance mmm it's easier perhaps you know go back yeah 30 years ago you didn't have finance yeah it's now easier to get a nice watch I think watches have been gifted a lot more as well and it's a it's it's a it's a fashion accessory in many ways it's something nice to wear and so I think I think the market will be actually definitely be strong but I think it'll be strong yeah yeah I mean it's a lot of talk about an old topic but well we'll cover it briefly there's a lot lot of talk about whether the Holts gonna get discontinued this year the double 106 100 V yeah well sure I know I think we've got different opinions yes well it was the same last year you know it was it was all the hype leading up to bar well they'll discontinue the Hulk my gut feel is that the Hult will continue but I think it's time now that enjoyed the new movement then you know has gone into you know the yacht-master and into the GMT a new movement that will have that longer power reserve the resistance to magnetism resistance to shock the accuracy is just the same as it was it's still two seconds per day so I think that would be something probably as a minimum because you know he think about it the Submariner pre ceramic went up to the new model that gave it a wider case heavier bracelet glide lock clasp ceramic bezel different dial they've sort of done everything you'd really want to do to it now I could be completely wrong they could say well actually we'll now make it forty two mil mm could they do that I don't think I don't think so because I mean I wear a 40 mil and I've got quite a big wrist and it's a lovely watch you go on there yeah it is it's it's a GMT master it's the one 675 oh and if I'd love to buy off you but you won't sell it to me no no it's I got this from Chum of mine and it had been in the safety deposit box for 10 years and it's just the way that the patina has developed on this and it's I think the colors just work really well half the soggy and at a close look it's morning over breakfast it's one that a nice examples I've seen in a very very long time yeah it's a beautiful watch but just going back to the hole I say my opinion are these I think I think it could go this year right I do I think motor Lakes might just go bang and may if they do have a habit of doing things like this they'll they'll surprise us every now and again if it doesn't go this year mm-hmm I think it might strike for a number of years but I think if it is gonna go this potentially is the year that it might I'm not a gambling man I wouldn't I wouldn't so that's a running that leads on to a really interesting point for those who are perhaps the thinking that might happen mmm what does a buyer do do they wait what is the boy in a cellar doing exactly absolutely because the well that watch I have there is a 20-19 yeah as you can see it's like new yeah UK watch 13 495 now yeah I know that's pretty well double this but you know compared to most that's it's it's where it should be or perhaps a little bit less again I mean mindful if the market does take a little bit turn before it builds back up again could that come back to twelve nine nine five I think it's about right but if they do stop it then it's it's gonna go up mm it's a fifteen thousand pound what your fate though yeah but we are gonna just the prove to the viewers watching yeah we don't rehearse this part I'm gonna disagree video I don't see the watch is worth that much money no I just don't you know I always know it's not work it's not actually right it's not worth that much money but it is it's the price that I based upon it is based upon the rights might pay yeah whether that means I've overpaid for it but you know to some extent you've got a in it to win it I have you know a fair volume of customers new and old looking at my website every day in all the various channels and you know we've got to have the watches but on that point again when I'm buying just now I'm probably a little bit more conservative you know if I bought another one I wouldn't pay what I paid for that but having said that I'm quite because I've only got one haven't got ten I'm not terribly exploring the conditions perfect well absolutely and so if it does go up even if they just leave it as it is pop a new movement in it yeah hang them in the old model this is the thing what's expensive to buy yes can often turn out to be cheap tomorrow absolutely and that's the situation with the hole right now let's have a little a bit of a step back in time let's have a look at the Kermit yeah I mean this again is a beautiful example and a watch that is experienced the pre hefty hug day in the last 12 months or so well they're roughly I mean you'll get some cheaper privately but they're roughly sort of thirteen thousand to twenty thousand aren't they depending upon which version of it you get if you can obviously they're very early and I keep getting my is it is it's flat for yeah and it's not flat for fat for from the you know the very early 2003 I mean they're sort of heading up 20,000 yeah but for these and again is it worth it of course it's not but it's what the market dictates yeah it's a great watch and I think that's a really I mean I'd love a look at that watch I think it's classic Kate case lugs on it it's a really pretty pretty what strikes me about this particular piece well I've got it in my hand is the condition again he's actually remarkable and this is what I'm always trying to tell people is that I did a video the other day when I bought mates a doll sub yeah that's a beautiful piece a beautiful watch I mean not particularly rare pays not particularly spectacular it's not a growl watch but what it is a little bit like you can hear is that it's a very desirable piece in exceptional condition and I still don't feel I still believe that people don't really truly appreciate what exceptional condition means and what it can mean to the value of a watch that in other areas might be perhaps a little bit ordinary might not be particularly special I think what was lovely about that watch of course when we think Submariner we think steel oh you think stealing gold with the blue dial yeah the sati dial it's just that bit different I think that's a really lovely piece I think there's some really and I think be interesting to see the way Mill gas goes as well I mean that's a watch that you normally used to see and watch those this watch they could lose the mill girls they're a very evening I think Nick's the classic Explorer - mmm that's really got very very popular in fact I've got in the next couple of weeks I'm getting a nun worn one of those coming in right now that's pretty rare yeah I think that's been a nice one what else do think is going to happen a ballon do you think what would your best guess that were likely to produce I mean a little bit spectacular this year because they really for me there a to watch range let's get this right I mean it's the offshore and the Royal Oak and the Royal Oak Offshore and that's you know whereabouts where they are really they need to they need to do something spectacular of course that's one which you chose wasn't it the offshore how you enjoying that I love it I love that yeah I love them I mean they're a particular passion of mine or I could spend multiple millions on ApS but today so weird thing to say you know a lot of people often say to me oh you know you talk about row leagues too much etc but then you go and do a video on it on another brain on another watch and nobody what is it mm-hmm so you're in the middle of devil in a deep blue sea Rolex played a major role 98 99 percent of my watch dealing career and life whilst not being my favorite brand from a financial point Rolex remained my favorite brand because that's how I my money and that's how the financial world of what is in my world at least thrived and survived all of our PJs my favorite watch brand that I love to wear and appreciate but I have to say for the money I struggle to find about a watch them Rolex yeah and I think I know and I have to say as well I think chuda have come on immensely you know here's an example we're not going Holly we just come back from the United States and do I want to wear my offshore whilst on traveling going through airport security putting the what's in my bag do I want to wear it on the plane when I'm falling asleep and preps banging it against the armrest on the plane no I don't want to wear my IEP because they're just not as robust you can wear a Rolex watch in almost any situation you care to mention and if you damage it it can be put right if you mark it it can be polished sympathetically and it will look like brand-new again they're just a bulletproof watch and children are going that way as well yeah we've had did you see the new tutor we've got they're lovely it's lovely pay yeah that's a I actually was on holiday a couple of weeks ago and I picked that up and this is the new tutor black Bay po1 pea oh wow that's it's it's a really interesting design and of course that's got the new in-house movement on it as well and I think it retails around about three three it's a cracking watch for money it's crazy value for money and I think that chuder after I think that's they have to be very careful what they're doing because they're making these what he's so attractive so desirable and so wearable it could be the new Rolex but this was one of my predictions earlier on in the year that Rolex want to move into the Patek market yeah try and steal some of the protect buyers and replace Rolex with the Tudor brand and just have a shuffle what a shift I think they're really up but I think it but it's not a Rolex no and I think that's you know and again I often get calls from people talking about investment watches and it's a very difficult thing to talk about really because what is an investment but I think you know a safe place to put your money which I know you've done yourself with you you know you're James Cameron collection I think Rolex is probably the but the safest part you can be yeah we get told off for talking about investments and I get I get that you know I get people email me and so you know I'm sick and tired of hearing about what investments is it they're to be loved worn and enjoyed then I get both sides of it and what I will say is is a you know again from my own life experience John Finnie sir the vast majority of people that would come into my store would say to me look I don't want to blow my brains on on a watch yeah you know I want to buy a watch I appreciate that it may depreciate somewhat over the years but I don't want to buy I don't want to spend ten thousand pounds on a watch that when I come to sell it it's gonna be worth two grand or a few hundred quid oh I want some retention so I'd like the viewers to kind of forgive me for using the word perhaps investment let's perhaps a better word is value retention yeah and keeping your your money your investment a little bit honest I mean after all guys look we won't go out and buy a house that was going to lose money but we wouldn't really want to do that we do it with cars and as big boys which we all are we never go out then we we are all seem prepared to spend money on cars we seem to socially accept that we're gonna lose money on our cars I think it's finding a balance mm-hmm and I think it also depends on your patience so I will say to a customer look if if and if it is about an investment then the best thing you can do is go and buy a sports Rolex in steal from your local Rolex 80 but that's easier said than done because you're just not going to get one unless you have bought a number of watches from them and jewelry and you're in there regularly and you're seen as a trusted customer then you're just going to have to wait so if you're happy to be patient then be patient and go and get one at list but many are not and therefore they will come to the pre-owned market and and try and find the best watch for the best price I think if you hold out too long of course Rolex put their prices up seven or eight percent recently yeah and in doing so every year so that's going up a little bit a little bit at a time so I think it is back to that balance again we sometimes seize life's too short you never quite know what's around the corner and I think if it's if it's the right time for you and you got to pay a little bit more then just go and do it if you want something you we can't get like a Batman like a halt like a D Turner you're gonna have to spend thousands more and I think longer term I think you'll be okay of course if you had to sell it short term then it's gonna cost you a little bit of money but it is about finding the balance and that's something which I try to do my best in that conversation I'm having with customers to let them see that whole big patient not just the watch I've got but what's kind of right for you what's the long-term so I sold a beautiful date just last week to a family who bought it for their son's 21st it was gorgeous Azure blue Jubilee bracelet 2019 I think it retailed at seven nine fifty I had at eight to fifty they couldn't find that watch anywhere and they came up from England to buy it and I think that long-term you know the forty one minute the Datejust no that's a great watch yeah yeah it's a lovely lovely watch so I think they're I think they're okay but so what you reckon so what do you reckon we'll have a ball end by means of the what's your best guesses might bring up well I think as we've already as everyone said you know the Saudis do for a movement upgrade it's anyone's guess I mean they do some weird and wacky things they do some the honest answer to ease we'd all just be guessing mm-hmm the whole possibly discontinued we've already said they're new movements in the sub we've already said that there probably be as a potential at the Platinum veteran who could go and that's one for the future that's gonna be a hot watch it's a beautiful piece it's gonna be a hot watch it alright you know something I've said it I've got on record of saying I actually not a great lover of it mmm-hmm I don't think it weighs particularly nice I'm not particularly keen on the color combination but it's potentially the diamond doll version could be a hundred and fifty thousand pound watch not too far down the line especially if it's kissed well only if it's discontinued of a bottle I can see that going actually I remember talking about that watch and I'm winding the clock back now to five years III do a lot being up mentioned earlier a big car fan I do a lot and the world of motoring and motorsport yeah events and so forth and I remember being at a show one year about five years ago and a customer came up to me and he said I'm looking for the Daytona anniversary of you got one and of course I just started and even back then it was forty five fifty thousand I think fifty thousand wasn't about five years ago yeah they're a terrible he wanted to get one he said he'd been offered one somewhere elsewhere and I said well I'll try and get you one I said but to be upfront with you I don't have that sort of money to put into it and to my absolute amazement he says well look go and see what you can do I managed to find him one and I said someone that I tell you what if we can use your money I'll charge you fifty hundred pounds as a fee to go and get you that watch so he said that's great fandom of watch it gave me half the money up front when I got that watch she paid me the balance and it was thirty seven and a half thousand pounds then and look at the way that watches has grown so I think there you're right I think if that one were to stop it could be a pleasure classic do you recommend watch could be a hundred fifty thousand and years to come yeah yeah definitely yeah yeah hundred saying it's very likely if you look at some of the huge growth in some of the rare a model or the rare at they toners it's usually something to do with a doll you know the doll was just a little bit extra special after it's been looking at your sodalite vite just here you know very unusual what it's always going to stand out from the crowd you know and I say this time and time again to my view is it you know when you're looking for a special piece what will separate the ordinary from the very desirable is often just the dial yeah obviously along with condition but the doll does make a hell of a difference in a lot of what is not just the Rolex brain yeah did you remember having sodalite dials through yeah yeah I've had malachite those of you are them if you've ever had a malachite dull but exceptionally beautiful knows I love malachite stone dolls onyx dolls they're just they don't seem to produce these what is a very like they used to do back in the 70s and the 80s I think they were probably at their high day probably in the eighties when they were producing these dolls exceptionally beautiful pieces particularly in the ladies range if they just mainly precious metal watches stunning pieces they're not so big on that today maybe they feel that was more perhaps a Middle East than market because most of those what is that you get have been originally sold in the Middle East in the UAE so maybe they feel that it's an Arab market thing this one actually came from Dubai well there you go yeah that's that the chap had it from new names just a bit special much easier to find in Dubai than you will in Europe but I love Arab tights the Arabic taste I find the display of what is the range of what is that they have in Dubai when I go out there which is not that often but they can usually Siddiqui out there the biggest retailers can usually be relied upon so if something tucks away it is very very spectacular so if you are in our in Dubai looking for a spectacular piece arm it Siddiqui and sons they're the people to look at I'm not saying that as an ad for heard from there are authorized dealers but I have some spectacular pieces they really do so Jonathan tell me where do you see or where would you like to see it in R watch company in maybe two three four five years time I think we're going to basically continue doing what we're doing fundamentals will be the same I just like to organically grow I'd like to increase the sales I'd like to increase the volume of stock that I have but again the right stock the stock that hopefully I'm reading the market correctly that I know that my customers want again I'll continue just to think about the marketing acts but what's the consumer want where they're looking so I think the YouTube channel that we have and continue I don't see myself as a youtuber I see that YouTube video is something that's complementary to what we do that helps our customers I think is I think that is probably one of the areas we'll go and I think it's just out exploring other areas to try and do it I think collaboration is something that's really important to me so again working with you and your community doing stuff together being one of your you know you valued and trusted trailers I think the the stuff that we've been doing with Scottish Watchers again sponsoring that that channel also with red bar as well so I think it's just about getting out of the community and just getting that brand out there is is what we are gonna continue to it's interesting you mention it because I had a few people ask me exactly Walpole you know what is a trusted thing there is such you know you put these companies these people on your website as trusted dealers are they merely sponsors are they merely paying you to say they're trusted these I think I need to clear that up what my my idea was is to bring people who I can personally guarantee as good individuals or good companies to work with so I guess what I'm saying is that if any of my viewers deal with Jonathan for Anna's are important Jonathan doesn't serve them in the way in which they wanted to be so if I need to contact me and tell me that's the confidence that I have in my trusted dealers and you are one of them so that's what it kind of means you know I'm kind of putting my reputation on the line as a youtuber and and I've I have confidence in the people that I trust that's how the watch world works behind the scenes I love people be you know there aren't in the business won't understand that for an example I know if I said to you today Jonathan you know what I might buy that for my wife do you mind if I take a Jonathan's not gonna say boy yeah but I need the money before he's gonna say we'll take it home there try it if you like it send me out the money he knows it's gonna happen I know it's going to happen because that sell we we live and die on that reputation don't we yeah so if our viewers want to contact you there any Umrah watch company what's the best way for them to do it and how can they you know what channels do you have for them to do their research on you I think the best place I guess is our shop front is endre watch company the website which has n watch company Co UK I've tried to build that site to be sort of very user friendly all the watches they're on show he's always up to date yeah yeah yeah it's pretty good and we have videos of all of those watches on the website if they're not there it's just because we haven't done them yet but then it's normally up-to-date they can see the news features of what we're up to where we're going etc again if instagrams their preferred choice then we have my watch company on Instagram - we're on Facebook the YouTube channels there again and watch company and there's over 450 watch reviews there as well but I think unlike the big corporates where if they pick up the phone they could be talking to one of a hundred people or more when they call em a watch company they'll get me yes oh I'm sorry but you're like you're gonna get me but but you know you will get I guarantee I promise you I'll do my absolute utmost to understand how it can help them whether they're selling or buying and advising even if the watch isn't for me if it's too expensive even just guiding them to other areas they can safely sell it safely find a home for it so that principally is just or call me just for me you know our numbers are on there so that's that's I think is the best best way to do it you know well guys I hope you've enjoyed listening to Jonathan today's and a remarkable individual I have to say I've spent quite a bit of time with Jonathan now and he's becoming one of my favorite dealers I think he's ethos he's just absolutely bang-on it's been a pleasure coming up Jonathan thanks for the welcome to read in Buran in theatre Scotland it's snowing heavily out there so I don't know if I'm going to get home tonight but it should be fun thanks so much for inviting the absolute pleasure thanks forever they came all right thank you Cheers

Channel: Paul Thorpe Watch Dealer

Views: 30,171

Rating: 4.8454938 out of 5

Keywords: Edinburgh Watch Company, Paul Thorpe, Scottish Watches, Watches for sale in Scotland, Rolex watches Scotland, Rolex Watch reviews, Tag Heuer watch reviews, Omega Watch reviews, Omega Watches, Watch dealer interview, inside watch dealing, watch dealers inside thoughts and views, Producer Michael, Jenni Elle, Watch Dealing, Rolex James Cameron, Rolex Sea Dweller, Rolex Day Date review, Watches, buying watches, Iconic Watches, Watches of Switzerland, Watchfinder

Id: TNLoZ9HjmjU

Length: 70min 26sec (4226 seconds)

Published: Thu Feb 20 2020