Buyback rate - Latest version 2024.1 -

Thank you very much for your continued patronage of Commit Ginza (hereinafter referred to as our store).

Now, we would like to reveal the latest Buyback Rate ( January 2024 ) for this month as well!

We will distribute the compiled results every month , so please check them out.
Not only will you learn about our track record, but you will also gain a deeper understanding of the watch situation!

So, what kind of trends are happening in the luxury watch industry?

Let's take a look at the latest buyback rate ( January 2024 ) and unravel the mystery.

Buyback rate = resale rate at a typical watch store

As many of you may know, the buyback rate is the number calculated from the difference in price when you sell a watch you have purchased. At general buying stores, this number is said to be around 70% .

In other words, a watch purchased for 1 million yen can be bought back 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However, when it comes to luxury watches, this way of thinking is a bit outdated.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 good chance that you can sell your watch for a higher price!

So, if you don't know, you're missing out .

In order to avoid such a situation, please make sure to read the rest of this article about " Buyback Rate = Resale Rate " until the end!!

Commit Ginza's "Buyback Rate = Resale Rate"

What do you think? This figure is our " buyback rate = resale rate "

An astonishing 99.7 % (December 2023: 100.0%)

Let's take a closer look.

Below is the total data on watches purchased between January 2016, when Commit Ginza opened, and January 2024 , that were resold to our store.

Comparing the collected data, the trends are as follows:

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▶Many customers have used our store.

▶ 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 99.7% means that a watch purchased for 1 million yen was sold for 997,000 yen, which means that you could wear a luxury watch for just 3,000 yen .

If you use it for two and a half years and then try to sell it, your monthly payment will be just 100 yen!!

If you hear that you can use a luxury watch for just 100 yen a month, you might be inclined to 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...

29.7 % = 297,000 yen!!

I think you can understand what these numbers tell us without me having to say much.
However, it goes without saying that even if you buy a product today and sell it tomorrow, the resale rate mentioned above will not be achieved.

So, what should you do? Let's discuss the key points based on actual buyback data.

[★Very important★]
How can you maximize your buyback rate (= amount received when selling)?

From here, we will dig a little deeper into Commit Ginza's buyback history.

The above data is only a partial list, but most transactions that have been in place for less than a year tend to have a buyback rate below 100% , roughly After a year and a half or more has passed, the repurchase rate tends to gradually exceed 100% .

In other words, the longer you hold onto an item , the higher the resale rate tends to be. The results are shown in the table below.

I hope you now understand that it is very important to take a long-term view when buying and selling watches. The average resale rate for products that met these key criteria was...!!

The average buy-back guarantee at a typical watch store is around 70% . The difference is...

55.4 % = 554,000 yen!!

Of course, we have talked about various things, but there are hardly any industrial products with a resale rate of over 100% in the first place. The important thing is to think of luxury watches as something that you enjoy wearing and that boasts a high resale rate .

Three reasons why resale rates at general buying stores are low

The reason why Commit Ginza boasts 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 the value of industrial products (objects) decreases from the moment you buy them, but when it comes to luxury watches, it is entirely possible for them to exceed 100% if you think about it in the long term rather than the short term.

Of course, one of the reasons for the high resale rate is that consumer behavior has changed dramatically due to the unstable economic situation triggered by the COVID-19 pandemic and the war in Ukraine in recent years, as well as the rapid depreciation of the yen, which has led to an increased demand for luxury watches that 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 transactions 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.