2022.4 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)
Good evening everyone. This is Commit Ginza. Thank you very much for your continued patronage of our store.
Now, we would like to reveal the latest version of our Buyback Rate ( April 2022 )!
We will distribute the compiled results every month , so please check them out.
Not only will you gain a track record of commitment, but you will also gain a deeper understanding of the clock situation!
So, what kind of trends are happening in the luxury watch industry?
Let's take a look at the latest buyback rate ( April 2022 ) and unravel the mystery.
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 purchased for approximately 700,000 yen .
= Buyback rate = resale rate is 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However, when it comes to luxury watches, this way of thinking is a bit outdated.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!!
An astonishing "buyback rate = resale rate" (purchase rate)!!!
What do you think? This figure is our " buyback rate = resale rate "
An astonishing 105.1 % (February: 105.2%)
Let's take a closer look.
Below is the total data on watches purchased between January 2016, when Commit Ginza opened, and April 2022 , that have been sold back to our store.
Comparing the collected data, 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 105.1% means that a watch purchased for 1 million yen was sold for 1,051,000 yen . In other words, you get to wear a luxury watch for free and get an additional 51,000 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...
35.1 % = 351,000 yen!!
I don't need to say much, but I think you can understand what these numbers tell us.
,,, that?
... are resale rates going down?
Many people must have thought so. What is the reason for the continued decline since March?
▶ In addition to the above from March...
In fact, if we look at the details of sales in April, most of the sales were made within six months of purchase. Of course, there are various reasons, but it is likely that people are concerned about the current situation and have begun to sell. It is also true that the yen has been weakening and has recently shown a recovery trend. As you can see, having a solid understanding of the current situation is extremely important when buying and selling luxury watches.
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 gained 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 every month, striving to provide you with satisfaction and peace of mind when buying and selling luxury watches.