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 ( March 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 ( March 2024 ) and unravel the mystery.
Introduction
Generally speaking, the value of industrial products (objects) decreases the moment they are purchased. However, with the recent trend towards SDGs and the development of CtoC business, the secondary distribution market (resale market) has been attracting more and more attention every year.
Luxury watches are no exception, and the market is expanding with a rapid increase in second-hand buying shops in Japan. So, what is the actual resale rate? What are the key points when buying and selling? To avoid losing out (= to get even the slightest profit), please read to the end of this article about the " buyback rate = resale rate "!!
Buyback rate = resale rate at a typical watch store
As many of you may know, the buyback rate is calculated by the difference in price when you sell a watch you have purchased. At a typical buying store, the buyback rate 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However, when it comes to luxury watches, this way of thinking is a bit outdated.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!
Commit Ginza's "Buyback Rate = Resale Rate"
What!!
An astonishing 123.6 % ( January 2024: 124.2%)
This has been achieved!!
The average buy-back guarantee at a typical watch store is about 70% . The difference is...
53.6 % = 536,000 yen!!
I think most people would think, "That's a lie! Isn't there some kind of trick behind it?"
...Yes. Of course, I am not lying and am just stating the facts, but there is a trick to this. And this is a very important point. Please take a good look at what I am about to tell you and deepen your understanding.
[★Very important★]
How can you maximize your buyback rate (= amount received when selling)?
The above data is only a part of our track record, but most transactions that have been in place for less than a year tend to have a buyback rate below 100% , and approximately 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 below.
As you can see, the majority of transactions are within a year and a half. Although there are various reasons for each customer, the reality is that many people are losing money by short-term buying and selling.
When comparing products that were held for more than a year and a half with products that were sold within a year and a half, there is a 31.1% difference. If you know there will be such a big difference, wouldn't you want to hold on to them for the long term?
Also, from another perspective, the resale rate 123.6% means that not only did you get to wear the luxury watch for free , but you also got an additional 236,000 yen back.
Of course, external factors such as the increased demand for luxury watches and rising market prices due to the global rise in prices are greatly contributing to this result, but we believe that it is also the result of our store's sincere efforts to put the customer first.
Finally, let me explain in detail why we are able to achieve such an overwhelmingly high resale rate.
The reason why Commit Ginza boasts such an overwhelming resale rate
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
To begin with , there are very few industrial products with a resale rate of over 100% . However, by thinking in the long term rather than the short term, it is entirely possible for luxury watches to achieve a resale rate of over 100%.
However, what is even more important is to "enjoy wearing it." Not only is it an asset, but it also has the positive aspect of raising your status and giving you a sense of exhilaration. Why not come to our store and find a luxury watch that you can enjoy wearing and that will also become an asset for you?
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.