Why auctions are the biggest watch scam

Visit Coinbase to learn more: https://coinbase-consumer.sjv.io/xLq4qv This episode is sponsored by Coinbase, Visit www.coinbase.com to learn more. Crypto comes with unique risks, take 2 minutes to learn more. https://coinbase-consumer.sjv.io/xLq4qv Rob is joined by the amazing Oscar Strong to talk about the intricate world of luxury watches, including his most expensive watches sold, the biggest scams in the watch market, and the nuances of vintage watch authenticity.

You'll hear Oscar on the pitfalls of auctions, the dangers of sending watches back to manufacturers for servicing, and the challenges of spotting counterfeit pieces. They also explore the dynamics of watch brands like Hublot, Patek Philippe, and Rolex, discussing their market strategies and the impact of limited editions

Oscar REVEALS:

• High-end auctions and vintage watch sales are rife with scams
• "Frankenstein" watches, which are modified with non-original parts
• Authorised dealers often require customers to purchase multiple watches or jewellery to qualify for the opportunity to buy highly sought-after models.
• Brands like Hublot and IWC have faced criticism for overproducing limited editions
• The importance of brand reputation and how it can impact resale value in the watch market.
• Authorised dealers may struggle to sell certain models, while grey market prices can be much lower than retail.

BEST MOMENTS

"The biggest scam in the watch market, I would say, is in auctions. If you don't know what you're doing with vintage watches, you can be scammed for millions."

"A Frankenstein watch is when original parts are added to a watch to make it something that it originally wasn't."

"I think it's actually suicide to send it back to the brands, especially if you're not really in with them."

"Hublot, the fall off needs to be studied because essentially all that went wrong... is they started making limited editions, not even for football teams, but for players who had left the teams."

"I believe that Rolex are that for watches. I also believe that they're the best value."

VALUABLE RESOURCES

Oscar Watches - https://www.instagram.com/oscar_officialwatches/?hl=en

https://robmoore.com/

bit.ly/Robsupporter  

https://robmoore.com/podbooks

 rob.team

ABOUT THE HOST

Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “The Disruptive Entrepreneur”

“If you don't risk anything, you risk everything”

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This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/