2021.9 Latest version!!
How much can you get back if you resell a watch you bought at Commit Ginza?
(*This includes sales of new and unused items)
Hello everyone. This is Commit Ginza. Thank you very much for your continued patronage of our store.
Well, without further ado, today I would like to reveal the latest version of our Buyback Rate (as of September 2021 ), which has become a tradition that needs no explanation!
These days, information about the coronavirus is being circulated everywhere, and not a single day goes by without hearing the word "corona." With such unpleasant news continuing almost every day, what about the luxury watch industry?
We hope that by taking a look at the latest version of the Buyback Rate ( latest version as of September 2021 ) that we will soon be releasing, we can provide you with some positive news.
Buyback rate = resale rate at a typical watch store
First of all, as many of you may already know, the buyback rate is the number derived from the price difference when a watch that you have purchased is put up for sale again, and at general buying stores, this figure is said to be around 70% .
In other words, a watch purchased for 1 million yen can be bought back for about 700,000 yen . = Buyback rate = resale rate = 70 %.
What do you think about this figure of approximately 70% (= a 1 million yen watch would become approximately 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.
However, when it comes to luxury watches, this thinking is becoming a bit outdated. In fact, there is a lot of potential to sell your watch for a higher price!
So, if you don't know, you're missing out .
We want you to avoid this situation at all costs, so please make sure to read the rest of this article about " Buyback Rate = Resale Rate " until the end!!
Now, we would like to present the latest data, including the results from the previous time.
An astonishing "buyback rate = resale rate" (purchase rate)!!!
What do you think? This figure is our " buyback rate = resale rate "
An astonishing 100.6 %
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 time of September 2021, that have been sold back to our store.
Comparing data collected in 2017, October 2020, April 2021, and September 2021, the trends are as follows.
this is
▶Many customers have used Commit Ginza.
▶ All transactions were conducted at a "fair price."
▶Rising prices due to increased demand for luxury watches.
It depends on the situation.
A resale rate of 100.6% means that a watch purchased for 1 million yen was sold for 1 million yen . In other words, you get to wear a luxury watch for free and get an additional 6,000 yen back.
Just hearing these figures might make you think that everyone wants a luxury watch and that they should just buy one from any watch store.
However, as I mentioned at the beginning, the average buy-back guarantee at a typical watch store is said to be around 70% , so the difference is...
30.6 % = 306,000 yen!!
I don't need to say much, but I think you can understand what these numbers tell us.
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, we put the customer first - buying at the highest price in Japan and selling at the lowest price - and by accurately determining the fair price - the current market value of each item, we have come to have a large number of loyal customers .
summary
What did you think?
It is generally said that industrial products lose value the moment they are purchased, but I'm sure no one expected the figure to exceed 100%, overturning that statement.
Of course, another factor is that the unprecedented situation we are facing with the coronavirus has changed consumer behavior, increasing demand for luxury watches, which also have an asset aspect.
However, the most important point is that we have faithfully embodied the "customer first" philosophy that is the Commit Ginza corporate philosophy. We believe that if we always operate with customer satisfaction as our number one priority and conduct business at fair prices, we will naturally achieve similar results.
We will continue to publish similar data on a regular basis in the future, striving to provide you with satisfaction and peace of mind when buying and selling watches.