2021.4 Latest version!!
How much can you get back if you resell a watch you bought at Commit Ginza?
Hello everyone. This is Commit Ginza. Thank you very much for your continued patronage of our store.
If you have read my previous article, you may have noticed from the title.
"Buyback rate = resale rate"
We would like to provide you with the latest version of this information as of April 2021 !
Recently, the attention on luxury watches has been increasing day by day, and the price fluctuations have become more rapid. Furthermore, April was a month of more volatile prices, with many luxury watch makers announcing new products. In addition, there is a lot of excitement about new product predictions even before the announcements, and it seems that more and more people are disseminating information.
The watch industry is booming, but in the future, it seems that rather than "you won't lose out if you use it," we will likely see more cases where "the price has gone up even though you've been using it."
Buyback rate of a typical watch store = resale rate
As many of you may already know, this figure, which is derived from the price difference when a watch you have purchased is put up for sale again, is said to be around 70% at general buying stores.
In other words, a watch purchased for 1 million yen will be bought back for about 700,000 yen .
What do you think when you hear that this is about 70% (i.e. a 1 million yen watch will become about 700,000 yen)?
"They're willing to pay such a high price for it."
"You can get it for a surprisingly high price."
"It's so expensive compared to clothes!"
Most people probably feel that the exchange rate is good and that they can sell their items for a high price.
When it comes to luxury watches, that thinking is becoming a bit outdated.
In fact, there is a good chance you could sell it for a higher price!
"You'll be missing out if you don't know"
We want you to avoid this situation at all costs, so please be sure to read through to the end to learn more about resale rates !
Now, we would like to present the latest data, including the results from the previous time.
An astonishing resale rate (purchase rate)!!!
Bang!!
What do you think?! This is actually the resale rate at our store.
An astonishing 98.6%
Let's take a closer look.
Below is the total data on watches purchased from Commit Ginza, when it opened in January 2016, to the present day as of April 2021, that have been resold to our store.
Comparing all the data from 2017, October 2020, and April 2021, we get the data below.
this is
▶In all figures, many customers used Commit Ginza.
▶ All transactions were conducted at a "fair price."
▶Prices have risen as luxury watches have been recognized as physical assets.
It depends on the situation.
A resale rate of 98.6% means that a watch purchased for 1 million yen was sold for 986,000 yen. In other words, you could wear a luxury watch for 14,000 yen . As mentioned at the beginning, the average buy-back guarantee at a general watch store is said to be around 70% , so the difference is...
286,000 yen!!
I think you can see that these numbers speak for themselves without me having to say much.
So why does this difference exist? I would like to touch on this a little.
Three reasons why resale rates at general buying stores are low
Why Commit Ginza can achieve such an overwhelming resale rate
We've talked about a lot of things so far, but what is the reason why Commit Ginza is able to achieve such an overwhelmingly high resale rate?
As most people have probably already noticed, the answer lies in the paradox mentioned above regarding why resale rates are low.
In short, by thoroughly determining fair pricing - i.e. accurately determining the current market value of each product - and putting the customer first - i.e. buying at the highest price in Japan and selling at the lowest price, we have come to have a large number of loyal customers .
summary
Since opening Commit Ginza, we have consistently adhered to a "customer first" approach, and I believe that this has resulted in such astonishing results.
After all, a company is a company no matter what.
CtoC businesses, which are actively used by customers, can engage in maximum price competition, but it is inevitably difficult to increase trust or the quality of service.
What about BtoC companies? After all, if you try to maximize your credibility and service, you will have to incur various expenses such as labor costs and advertising costs, as well as the risk of reselling, so you will inevitably have to make a profit from the unit price of each watch. This is what you can consider to be the average buy-back guarantee of about 70% at general watch stores.
On the other hand, Commit Ginza prioritizes "customer profits, not store profits." This is because they believe that "store profits cannot be made without customer satisfaction." If they can continue to prioritize customer profits, they can achieve both "low profit margins" and "high sales." It is because of this management policy that they are able to achieve a resale rate of 98.6% .
We will continue to make similar data available to you in the future, striving to provide you with satisfaction and peace of mind when buying and selling watches, so we hope you will continue to support Commit Ginza.