Flipper: Flippers aren’t the problem. Flippers are the solution to keep you from getting scammed!
Also flipper: Of course I’ll drive over to the AD to buy a $13k Daytona that I can flip for $20k profit.
My favorite thing about flippers is how they create this convoluted logic to explain how they are actually good for you and the markets. In another video he gives a bad acting performance about being a TrUe CoLlEcTor just like you guys even though he may make “a few dollars here and there.” The suggested videos from that are these same guys buying $17,000 dinners, driving Lambos, and flying private.
If you don’t understand why you can’t walk into a Rolex AD and buy a new steel sport, watch some of this video. It’s the scalper from above but this a pretty good behind-the-scenes look at how this market works. It’s basically sneakers at nosebleed stakes on steroids. Of course this guy did prison time. Of course it’s a global network of scammers and shadeballs running this entire market. But I’d be lying if I said they don’t produce content that’s really interesting.
Brief explanation of the underlying structure:
(1) People figured out that popular Rolex models (e.g., steel sports like the Daytona) are worth substantially more than retail price and could be flipped for big profit. This started at least several years ago.
(2) Authorized dealers (ADs) realized this too but can’t (legally) jack up prices. Many of them aren’t interested in giving free money away though, so instead they use shady tactics like pushing diamonds or shitcoin Rolex models on clients to increase their TrUe CoLlEcToR ScOre for privilege to buy premium models later. Some must be taking straight up bribes and shit too because, like, that’s how these markets always work.
(3) If someone is lucky or connected enough to score a coveted watch, they might flip it to these guys in the video. I can understand why, because they do seem quite knowledgeable, appear to pay quickly, and probably aren’t outright scamming people. The other guy (Marco) seems even more knowledgeable about the actual watches, especially Rolex, and is the primary buyer.
(4) Most of the calls he’s taking are from other secondary market dealers (global) and/or people who scored at an AD.
yes, sort of. This was a kit, and these come in various levels of assembly-needed-ness. this one was pretty easy because the PCB has basically everything already on it, I just soldered the switches on and then soldered LEDS since I wanted per-key lighting (this is optional). The PCB also supports RGB LEDs on the bottom if you want “underglow” (which I don’t). It’s all through-hole soldering, everything surfacemount on the PCB comes pre-soldered so it’s not too bad for beginners. This kit is easy enough that my kids were able to do it with basically no help from me other than showing them how to solder.
I’ve built others that required more soldering than this, some of them need diodes for each switch and then a resistor for every switch that you want an LED for, which quickly turns into a LOT of soldering. Some of them also have the controller (which is usually a low-power ARM processor) on a separate daughterboard that has to be soldered or socketed in. It also has a couple of tiny SMD components that have to be soldered on (a mosfet if you want LED lighting and the reset button and USB socket).
Oh yeah, there are a bunch of preassembled options, I’m just not really up to speed on them. Drop.com sells turnkey kits that don’t require any soldering, you pick a board, the type of switches, and keycaps, then you just plug the switches in (hot-swap boards don’t require any soldering) and pop the keycaps on and off you go.
The drop boards are on the higher end for turnkey stuff, there are cheaper options out there as well.
This was my wedding present about 8 years ago (and it was lightly used then) - an Omega Seamaster 300M Electric Blue Dial Steel Chrono 2255.80.00. Only nice watch I’ve ever owned, and still love the thing and it still keeps time within a minute or so per day without refurb.
At the time, he was a dime-a-dozen English conversation teacher. It was around 1998. He told me he was going to start an “Internet business.” Over the ensuing months I’d snarkily ask “So how’s that going for you?” He’s answer, “It’s going but still teaching English to pay the bills.”
Fast forward three years. I’m back in the states and ask a mutual friend how the dude’s business is going. My friend replies, “He drives his brand new Porsche to work from his top-floor Tokyo penthouse to an office located in one of the most expensive pieces of real estate in Harajuku. He’s doing OK.”
Last I heard he had sold the business and is retired and living on a yacht in Okinawa.
This business model of exporting domestic Japanese products to gaijin obsessed with Japanese “culture” seems like a pretty common one now. I wonder how many Porsches I’ve helped fund buying matcha Meltykiss?
Actually, the guy who started this business designed every one of the watches himself. I even saw many of the patents for them. He wasn’t just finding and selling watches that were already in Japan.
Didn’t realize the Incursore had a Unitas hand cranker. Does that movement only come with the Cali dial? Because if so it seems like they were going for a PanaGly.
