Reselling

I would suggest that, unless you have a ton of capital and some business acumen to back it up, that you don't even start. The luxury watch market will eat you alive. Trust me on that. If you have an interest in starting a general sort of watch business, however, I would look to smaller outfits that aren't well represented in your home country. Find out what prices you can wholesale their watches at, and what the minimum spend is. If you think you can make it work, get the stock in and use any skills you might have at marketing to sell them at a profit. See where that takes you to begin with. Heck, it's how Marc at Island Watch started - and he now sells much better brands (still not luxury - note that), and has his own models. A much more sustainable business than trying to get a hold of luxury pieces and making a profit on them.

Hmm i will look into that. I do like the idea of reselling luxury watches so i wont be giving up on that. Thanks for answering. Appreciated!

It's something you'd need to build up to. Get used to buying and selling first. Don't put all your eggs in one basket. For example, how many Rolex's were you going to acquire to start this business? And what margin do you think you'd make on them? Not as much as selling many more cheaper watches with higher margins. Learn the watch game first, and if you still really want it, you'll get there if you have the drive, skills, and some luck. But again, I point to someone like Marc at Island Watch who started by reselling watches on eBay to make some money, and even years later, with a globally respected business, and his own watch brand, he still doesn't delve into luxury (depending on your view of luxury; some may see his Squale relationship as luxury, I don't see it as luxury personally), for which you should wonder why?.

The alternative to this is finding a watch business that already exists and trying to work for them in order to learn the business from top to bottom; the contacts, the marketing, the accounting, all that boring stuff. And then eventually take that knowledge you've learned and start your own business at a later time.

Yes, as said I am 16. So diving into luxury watches immediately would be unrealistic and pretty dumb considering I have very little knowledge. I need to acquire a lot of knowledge and money before going into luxury brands. I think I will start with cheaper brands to get knowledge and really get a understanding of how the market works. As well as building relations with resellers and other watch sellers. Then I think it is only a time question before I get into the more luxurious brands. But I believe it is really important to get a solid and stable foundation before even trying with more luxurious brands.

Absolutely. All the stuff I was saying in my first reply and, to some degree the second reply, too. The great thing is, you're at an age where you can try things and it's not the end of the world if it doesn't work, or you change your mind about it, or any of the other weird and wonderful things that happen to us over time. You never know what life will throw at you next, but having a goal to aim for is always a good thing!

Exactly! Getting into this early in life can surely have many benefits. I will give it a try. It's not the end of the world if it doesn't work out as you said. If I try and fail I still have got 99% further than the most people who doesn't even try. Do you have some sort of social media where I can add you man?

I have social media, but not in a watch collecting capacity; it's related to other interests I have in life, and I keep them separate. But I'm a regular around here. Always happy to throw some thoughts out there! :)

What @complication said.

Don’t forget a lot of those negotiation videos in YouTube are staged, even if the deal is real. Nico said it himself.

I would suggest that you try to get a job in non-retail sales. It’s non-retail jobs that really make you think of things like cost of goods, net margin and gross margin.

Sales was my career before my current one and my sales experience comes in handy from time to time.

My advise - learn a skill.

Having a proper skillset is crucial to your wellbeing. Reselling watches is a business, so first of all - learn business. Because there's a big big big probability that you won't make it there, but having valuable knowledge and skill will give you an ability to start over. You might got lucky and get yourself a great and powerful start, but life is gonna hit ya super hard at some point. One of my former friends had an idea to start a poker career. He got into money in his first 4 tournaments in a row, made a nice amount of dough, but then he lost it all, because he didn't know poker math good enough, he was really bad at bankroll management and he used a significant chunk of his prise money to buy himself new nicer clothes and fancy dinners.

Industries will rise and fall. Maybe 10 years from now the luxury watch market would be dead due to yet another form of a "quartz crisis". But if you have a skillset you will be alright. Use your skills to learn other skills. Until you are capable of bringing value on a table - you gonna be set.

Who knows, maybe you'll start selling affordable watches, work your way to the luxury market, get your clientele and switch to selling other accessories or luxury cars or to this people. Knowing how to run a business will help you adapt.