Hello everyone.
The Blue Impulse flew the other day. I couldn't help but stop what I was doing and look up at the sky above Ginza. I thought it was beautiful, but I also felt an indescribable emotion... Although the state of emergency has been lifted, we will continue to be grateful to medical workers, and we will always think about our role as a watchmaker and strive to be of some help to our customers.
Well, this time I'd like to talk a little about watch appraisers . I hope this will be of some help to those who are considering buying and selling luxury watches, and those who want to become a watch appraiser in the industry! I'll also be sharing some secrets that you don't usually get to know, so please enjoy until the end.
The contents of this article are also available in the video below, so please take a look!
What is a watch appraiser?
First of all, what does it mean to be a watch appraiser?
[Watch appraiser] = "A person qualified to judge the authenticity of brand-name watches"
I'm sure you all have this image in mind.
To put it simply, there is no qualification required to be a watch appraiser.
From the customer's perspective, it makes them worry, "Huh? Are you okay?", but for those who are looking to enter the industry, it can also be seen as "good news!" So, what is the reality of that "worry" and "good news"? Let's take a look at the work in detail.
Basic Business
As a basic business
①Purchase = Purchase of watches
②Sales = Watch sales
These are the two points:
It's very simple, isn't it? Number 1 is what is generally known as "appraisal work = authenticity determination". However, this purchase work = "appraisal work = authenticity determination" in number 1 is very complex. It's a little difficult to understand, so I'll explain it using our staff as an example.
[Appraisal work = Determining authenticity]
COMMIT GINZA / Executive Advisor: Tsuyoshi Kaneko
◇～2019: Worked at a brand goods purchase and sales store for 14 years
《Practice》
・【Buying and selling branded goods (including customer service)】
・【 Studying the flow of brand-name product purchases 】
・【Brand item authentication = studying authenticity】
◇2019~: Worked at Commit Ginza (luxury watch specialty store)
《Practice》
・【Buying and selling luxury watches (including customer service)】
・【 Appraisal of luxury watches (especially vintage) = Study of authenticity + Study of market outlook based on the global situation 】
General purchase and sales store
Buying and selling = customer service (the general framework) is the same. Now let's look at "appraisal work = authenticity determination". First, let's look at the "appraisal work = authenticity determination" of general buying and selling stores. This also applies to brand-name products, diamonds, jewels, precious metals, etc., but large stores will have a certain amount of "teaching materials" available. It's roughly the same as memorization questions in studying for exams. In addition to that, you can do research from magazines, the Internet, and by visiting other companies in the same industry, and you can also have them actually serve you, and study the talk and appraisal amounts.
[Appraisal by general purchase and sales stores = studying authenticity]
・Memorization work using "teaching materials" *Often limited to major companies
・Studying using "magazines" and "the Internet"
・ Research on competitors
specialty shop
Next is the "appraisal work = authenticity determination" of a specialty store. As I wrote in Kaneko's career above, basic study is of course necessary, so while you will study in the same way as a general purchase and sales store, you will also need to "appraise and authenticate vintage items" and "study market trends based on the global situation."
Let me reveal some truth here.
Truth ①
The first is that so-called general stores mainly deal with items with a "fixed market price". To put it more simply, they deal with many items that are similar to "currently on sale". In other words, for items where there is a certain degree of supply and demand, the "market price" is pretty much set. What we often hear is that when you bring vintage items to a general store, you are told, "We will keep it for you for XX weeks." This is because they cannot determine the authenticity on the spot.
Truth ②
The second point is about vintage watches. The evaluation criteria for vintage watches are 1) originality (are any parts replaced? Are there any accessories? etc.) and 2) how clean the condition is. The market price fluctuates greatly depending on these factors. Those who are somewhat knowledgeable may already know this, but what's interesting about Rolex watches is that they can become valuable due to changes in appearance over time, deterioration, or irregularities.
Returning to the main topic, how do you study "vintage appraisal and authenticity" + "study market outlook based on the global situation" ? How do you determine market prices?
To start with the conclusion:
◇The key to distinguishing them is "how many good specimens you can see and how many specimens you can see."
◇ In most cases, the market price is based on the "world auction price."
It is decided by that.
When deciding on a price, you need something to compare it to, otherwise you won't know "what makes something expensive" or "why is something cheap." So how can you see watches that are no longer in stock? If you want to see good ones, there is a limit to what you can see domestically. There is also a limit to how many vintage watches you can come into contact with in a day. So the fastest way to see them efficiently is by far to see them in person at a "global auction." Furthermore, top dealers from around the world gather there, and sometimes bring their own collections. And that's how the "market price" is determined.
summary
This is a bit long, but of course basic work is important. Kaneko has been checking the websites of about 50 companies for selling and buying prices for several hours every day and compiling the data for over 10 years. And he has done it without taking a single day off. I am a bit of a beginner too. (laughs)
In addition, the owner, Mr. Abe, has been working at a specialty store for nearly 20 years, repeatedly "appraising and authenticating vintage items" and "studying market trends based on the global situation." He has actually participated in dozens of global auctions.
As a result, we now have many fine specimens in our store, and Commit has a large number of display specimens that we can proudly show to customers.
*Until now, these watches have only been available in stores, but last month we launched a website called CVWD (COMMIT VINTAGE WATCH DICTIONARY) that specializes in vintage watches. If you are interested, please take a look.
Lastly, I think that naturally, customers think, "I want to sell my watch for a high price" or "I want to buy a good watch cheap." There is nothing wrong with that. There are many stores out there that sell vintage watches at surprising prices. When purchasing, it is important to ask how much you can buy it back for. I hope this doesn't happen, but if you do come across such a store, please remember this article and try asking some nasty questions. (laughs)
Of course, since we sell at close to market value, we are able to buy back without lowering the asset value. Please feel free to contact COMMIT GINZA with any inquiries, even minor ones.
Don't be fooled by superficial things, and enjoy buying and selling luxury watches with a sense of security.