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Interesting Paragraph from Launch Letter / No More "Inquire"
In Response To: Fascinating News -- Hodinkee Now Selling Vintage Watches ()

Here's an interesting paragraph, from Ben's letter, introducing his move to selling watches --

    Because the world of vintage watches has been stuck in a flea-market mentality for too long. Today, the best watches in the world are slung in backpacks, across borders – iPhone photos offered over text message and Whatsapp to clients with little chance to see the finer points or take the time to ask what’s wrong with a watch. Prices are hidden, changing depending on who’s asking, with little regard for what the actual market price may be. Essentially, each buyer is on his own, hoping that the seller has the decency to reveal the true history of any given timepiece.

For a long time, many of us have been complaining about the "Price Upon Inquiry" mode of listing watches. Yes, there is an inside market of high-end dealers, who move around a lot of watches, sometimes between themselves and sometimes to their customers. And when the uninformed stranger inquires about the price, guess what happens? Let's just say that the price will be well-above the "friends and family" price.

Folks, it's 2016. We are sending spacecraft to Mars and all of us carry amazing computing and communications capability in our shirt pockets. But there are still massive inefficiencies remaining in the market for vintage watches. We study small photos and often have no real description of the watch, at all. Sellers often know little about a particular brand or model of watch and the prospective buyers know even less. So there are both buyers and sellers who suffer the consequences of this underdeveloped market.

With the updated Hodinkee Shop, we are seeing one of the smartest guys in the watch business address some of these inefficiencies, and that's a good thing for all of us. Right now, Hodinkee is doing it in a relatively small way, but the opportunities are enormous. It's a huge market, with room for Hodinkee and also room for the flea markets. The dudes with the backpacks and "Price Upon Inquiry" will be OK, but many new enthusiasts will benefit from what Hodinkee is doing.

Jeff

++++++++++++++++++++++++++++

: People wondered if and when this might happen, and the answer is
: "Yes" and "March 8, 2016".

: Details here -- Introducing The New HODINKEE Shop . . . billed as
: an entirely new way to buy and sell watches (plus lots of other
: neat things, too) . . . and I am telling you that I believe the
: hype!!

: The market for vintage watches has hardly gotten more efficient,
: since the launch of this little website called "eBay".
: We see a lot of shady dealers, selling lousy watches, for big
: money / insane profits . . . and new enthusiasts can't buy them
: fast enough. Since when did the words "curate" or
: "select" mean "rip off"?

: It will be fascinating to see what Hodinkee can do to change this
: market, or at least stake out a good position in the market.
: Hodinkee is a trusted name; with a unique / massive following;
: access to "everyone" in the business (and some great
: watches); and I believe that Ben is an honest guy . . . oh, and
: best of all, he is a died-in-the-wool Heuer enthusiast!!

: This will be interesting to follow . . . March 6, 2016 . . . mark
: that on your calendar!!

: Your reactions and comments, please . . .

: Jeff

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