The Rise Of The Flippers

Have you ever been on the hunt for a limited edition watch, only to miss out, knowing that some buyers are just after a quick profit?

This frustration has become all too common in the world of watch collecting. The rise of “flippers,” those who buy sought-after items only to resell them at vastly inflated prices, has transformed the landscape. 

In 2019, the secondary watch trading market was valued at £825 million. By 2022, it had skyrocketed to a staggering £27.2 billion, and predictions point to a jaw-dropping £68.4 billion by 2033. These astronomical figures illustrate why the secondary watch market has drawn so much interest.

What’s behind this explosion in prices? The pandemic in 2020 played a significant role, reshaping wealth distribution. Government payouts, soaring cryptocurrency and stock markets, and rising inflation compounded the issue. The Rise Of The Flippers are partially to blame.

This surge in new watch collectors, coupled with the soaring prices of pre-owned timepieces, has created a frenzy. Today’s trend is flipping limited edition pieces, as seen with the Moonswatch. Over 100 of these watches, initially priced at £230.00, were sold for an astounding £1000.00 each. The trend continued with the Blancpain X Swatch, which fetched up to £900.00, far beyond its original price.

Now, limited edition pieces are snapped up and resold at ludicrous prices. Collectors keen on timepieces like Seconde/Seconde’s collaborations with Timex and Spinnaker are left frustrated, as these watches command exorbitant prices on the secondary market. It’s absurd that sellers expect £5600.00 for a watch that originally cost £365.00.

The MoonSwatch was the flippers favourite, fortunately these are still available from Swatch and are still only £230.00. eBay and the brands need to work together to help quash the flow of the Flipper. The buyers too, have to not pay these silly prices, then perhaps we genuine collectors, may be left alone.

The Timex collaboration with Seconde/Seconde, has seen these again obtain over inflated prices. Initially these were going for upto £10000 a piece, but now, thankfully they are dropping like crazy, as these are still mostly available on their website, from £180.00.

We’ve seen it happen before, with Bamford and his G-Shock. Seconde/Seconde now has such a huge following, everything he touches seems to fly out the doors, but not before the flippers swoop in and sell them for overinflated prices. 

It raises a crucial question: Who are the fools? Do we perpetuate this, by paying high prices. Or are we part of the problem too? 

One hopes that brands that sell directly will find a solution. It’s unfair that genuine buyers have to pay inflated prices because flippers swoop in to snatch up stock. 

Brands should consider better controlling their sales to ensure that watches end up in the hands of those who genuinely appreciate them. While a perfect solution remains elusive, actions like Richard Benc from Studio Underd0g’s initiative to thwart flippers by matching pre-sales to eBay listings, then refunding them and cancelling their orders, show that the industry is well aware of the problem.

It’s time for brands to take proactive measures to preserve the authenticity of the watch collecting community, ensuring that timepieces find their way into the hands of those who truly value and cherish them.

Now, days after the Spinnaker – Second/Seconde launch, which was a bit of a mess to be honest. Spinnaker have now decided to release a blue version that will be available for 50 hours. This will be slightly cheaper than the black and grey limited edition at £300.00 and hopefully help those who were trying to initially buy them out. Nice one Spinnaker 🙂