Business Corner July 2018

The IWJG June show in Miami had a good turnout for a summer show business was just ok. Two Asian dealers were robbed by armed gunmen, leaving the show. The car was hit in the rear and when they stopped their watches and money were taken at gunpoint. No one was injured. One cannot be too careful! It pays to ship goods or use a police escort.

Summer is always a bit slow for business. This is a good time to try something new to create sales. The trade war could cause a big problem if President Trump decides to increase the duty on Swiss watches. This could be a major blow for U.S. dealers.

Rolex S.S. Steel Submarine Oyster Perpetual Date model 116610V green gold dial “Hulk” models are very hot, selling in the secondary market new for $2,000 to $3,000 over retail. The previous green bezel 16610V 50th Anniversary sub in condition II, with box and papers, are trading in the $8,000 range.

The New S.S. GMT Master II with red and blue Cerachrom “Pepsi” bezel, model #126710 with Jubilee bracelet (retail of $9,800) are selling for thousands over in the secondary market. Small ladies watches are very difficult to sell as well as older gold-filled wrist and pocket watches.