Anyone making any money?

[phydaux]

Is anyone here making any money with their hobby?  Either by jobbing for friends & family or by selling watches made from parts sourced on ebay?

[phydaux]

'Cause I'd like to think that I could eventually pay for all the books & tools I'm buying by jobbing or selling watches I build/fix.

[chrisdt]

No one will answer that because you might be from the Inland Revenue or Tax Inspector

[phydaux]

Well I'm in the States, so you Brits are safe with me.  lol.

[Gpsluvr]

I’ve been doing it for 19 years now, buying watches at auctions that aren’t working at the time, fixing them, wearing them, selling them, etc. Overall the value of them is greater than I paid and a few have been stellar money makers when a desirable one has been discovered in a 20 pound box. The main thing is that it has provided me with a great hobby that isn’t just a money sink that has constant costs and no return. I’m happy.

 

I have over 1100 in my collection and more than that lying around waiting for a new home. I maintain an inventory list of all of them with details and costs and store all of them in ziploc portion bags that are 3 by 6 inches and heavy plastic with a place to write the inventory number on. Perfect for me. I can store them by brand name in drawers or big Tupperware containers. I concentrate on chronos and probably have 500. I can use the inventory and by sorting on checkmarked columns, find out how many of any brand/ movement type/ chrono or not / solar or not/ smart watch or not/ etc. I am a database manager by profession so I enjoy doing it.

 

Just have fun!

 

 

Sent from my iPad using Tapatalk Pro

 

[wls1971]

As far as buying to make money seriously I hardly have enough money to buy a Seconda nowadays , I  started buying when still young and started attending auctions in the mid 80's, in that time I cannot think of any area of collecting that has seen such growth in the last 15 years especially, I used to buy various incarnations of Speedmasters mostly 1960's 321 models they could be had in the late 80's early 90's for £100-300 in very good condition, 806 Navitimers could be had for the same money, I once bought a Rolex Military Sub at Fellows and Sons for £800 and sold it for £1,100 about a year later, I really could weep at that one, no dealers would touch them at the time because they had to change the hands,  and drill out the solid spring bars and fit a Rolex bracelet just to sell them.

Money has entered the game in a big way now and prices are crazy and auction commissions are crazy, when I was buying you paid 10% at pretty much any auction house but some local auctions at that time where as low as 7.5% now the norm is 25% to 30% plus vat(tax) on the commission this has dwindled any returns that may be had.

I see so many frankens, marriage's or just downright dogs dinners fetching silly money now.

having said that it does make it more exciting now when you do come across a bargain or spot something that is way under priced 

I think money can still be made if you work at it full time and know your onion's because fakes are every where.

 

[ausimax]

As far as making money goes I just sell what I can to feed the hobby/addiction, I am not into collecting, the hobby for me is getting them living again, that said I have about 80-100 of the usually the less attractive one's with less than perfect dials and so on that I don't consider good enough to sell.

On average I think I am slightly behind with regards to sales opposed to expenditure, but that is just for the watches themselves, with what I have spent on tools and equipment I am in a deep hole, and if I factored in my time as money I would be far behind the eight ball.

If I can sell enough to keep buying stock I am pretty happy, I am not into any high end watches, mainly run of the mill Seiko's, Citizen's, and Swiss models, I don't work on other peoples watches, I serviced a few for people I had sold to but didn't enjoy the experience, if I am working on watches I own and have a disaster, I have a parts supply, if it happens with someone else's watch I have a Catastrophe.

[oldhippy]

8 hours ago, chrisdt said:

No one will answer that because you might be from the Inland Revenue or Tax Inspector

[Nucejoe]

He  knows the feeling

He dosn,t care.

Both are fellow forumers

 

[yankeedog]

who ,me? seriously, I do it for fun. I have entertained the idea of turning a buck at it, but do not yet consider my skills up to the task.

[Watchtime]

I am collecting for about 25 years or so,.....buying at auctions and fleamarkets...giving them a second life and selling to pay for the hobby. Not able to make a living out of it but I am happy with the balance I have...:)

[canthus]

I took up this hobby after retirement about 8 years ago. Finding a regular source of projects (after all my friends and relatives!) without paying customers was difficult.   I decided that I could put my hobby to good use by sourcing watches etc from my local charity shop non-working/tatty intakes.

I now repair/refurbish their watches on an FOC basis and in fact donate most of the parts/straps/crystals as the watches are usually of low value or too old to economically repair etc in the normal way.  Many are quartz which just need a clean and a new battery, and/or may be a bit old fashioned but they still seem to sell them!  The shop always makes a profit albeit small, though it can be worthwhile in some cases.  This is stuff that the 'trade' would not usually bother with, so I don't think I am taking their business.  Any top quality or valuable stuff I advise them to have them professionally sorted or re-sell them on as not working etc.

This is my way of helping others via the charity, I get the enjoyment and experience/skills, and it also  keeps my hobby bouyant.  

I must also add that this forum and its videos have been invaluable and the members are exceptional with the help/advice they provide.

[Terryeff]

Unless you are dealing with the  top end of the market watches either buying / selling or repairs then making a living will be tough going.

[chrisdt]

Battery changes are the only undertaking I do for friends and family and I charge around £3 thats about £2 for the battery and I donate the other pound to the British Legion. They all seem quite happy with that and recently I found out why. I went into one of those shops in a shopping precinct (the ones that cut keys and repair heels etc) and asked the price for fitting new batteries in watches. I was surprised and shocked when he said the prices starts at £9.99. On my wrist I had a nice Tissot quartz so I said how much for this and he looked it up on his computer and said £29.99.

So I agree with you canthus I am helping a charity AND stopping the shop guy ripping people off.

 

[ecodec]

50 minutes ago, chrisdt said:

Battery changes are the only undertaking I do for friends and family and I charge around £3 thats about £2 for the battery and I donate the other pound to the British Legion. They all seem quite happy with that and recently I found out why. I went into one of those shops in a shopping precinct (the ones that cut keys and repair heels etc) and asked the price for fitting new batteries in watches. I was surprised and shocked when he said the prices starts at £9.99. On my wrist I had a nice Tissot quartz so I said how much for this and he looked it up on his computer and said £29.99.

So I agree with you canthus I am helping a charity AND stopping the shop guy ripping people off.

 

I have a personal list here of some key cutter/boot mender shops attempts to repair watches which have then been brought to me, mainly Quartz and three Mechanical.  I will keep it to myself but my advice is SERIOUSLY DON`T !!.  

[ecodec]

I have a personal list of some key cutters/boot mender shops attempts to repair watches which have then been brought to me, mainly Quartz and three Mechanical. I prefer to keep it to myself but my advice is SERIOUSLY DON`T !!.

[oldhippy]

I know you are all talking from an amateur or hobbyist point of view. If any decide to take up horology as a profession no matter if its watches/clocks or both, you can make a very comfortable living.