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re: He sold luxury watches. The FBI says he scammed customers out of $3 million.
Posted on 11/15/23 at 4:34 pm to John88
Posted on 11/15/23 at 4:34 pm to John88
It amazes me people consigned watches with TPG. It was obvious from early on he was a fraud.
As to the question why buy expensive watches? It can be a hobby, and something you can leave to your children/grandchildren. Some folks buy them to celebrate a special occasion, like retirement or birth of a child. If you do your homework you won’t lose a ton of money on watches. Know which brands/models can be had at a discount, don’t pay over retail if at all possible (even for Rolex), and you’ll be fine.
As to the question why buy expensive watches? It can be a hobby, and something you can leave to your children/grandchildren. Some folks buy them to celebrate a special occasion, like retirement or birth of a child. If you do your homework you won’t lose a ton of money on watches. Know which brands/models can be had at a discount, don’t pay over retail if at all possible (even for Rolex), and you’ll be fine.
0
Posted on 11/15/23 at 4:56 pm to jbgleason
quote:
Waiting for Broke or Obtuse (I think those are the super watch guys on here) to comment on this
Obtuse already covered it for us. This guy screamed either
1. Douchebag
or
2. Criminal
from minute 1 that I saw him. People like this are bold and they believe they are untouchable. Until the Feds come for them for fricking people out of money.
I'm also highly suspicious of that watch club where you belong and they mail you a watch and you wear it and then you swap for another. This seems like a bad business model and just dumb to be honest.
Posted on 11/15/23 at 5:13 pm to John88
His YouTube channel was awesome in the beginning, put into perspective how easy you could make money if you're super well versed in a particular product.
Posted on 11/15/23 at 5:15 pm to John_V
quote:
how easy you could make money if you're super well versed in a particular product.
It's always easy to make money off of suckers, especially illegally.
Posted on 11/15/23 at 5:26 pm to John_V
And he wasn't even well versed. Marco had all the watch knowledge. AF was just a tool from day 1.
Posted on 11/15/23 at 5:32 pm to John_V
quote:
if you're super well versed in a particular product.
Basically what he was good at was memorizing reference numbers of the hottest watches and talking fast enough to make persons with some money to spend but little knowledge or time in the hobby believe he knew something about watches.
His spending was so out of control and anyone with any knowledge of the trade could easily tell that what he was spending to support his lifestyle was grossly out of proportion to the margins he was making even on the most expensive pieces he was selling. Sure his gross sales were good, but his position in the secondary watch market where he was acquiring his pieces is not the point where the biggest margins are. He was buying high and selling a little higher. Definitely a pyramid scheme.
Posted on 11/15/23 at 5:54 pm to BigPapiDoesItAgain
quote:yup. all anyone that knows anything about that business had to do was watch him for 5 minutes. the math wasn't mathing
His spending was so out of control and anyone with any knowledge of the trade could easily tell that what he was spending to support his lifestyle was grossly out of proportion to the margins he was making even on the most expensive pieces he was selling. Sure his gross sales were good, but his position in the secondary watch market where he was acquiring his pieces is not the point where the biggest margins are. He was buying high and selling a little higher. Definitely a pyramid scheme.
Posted on 11/15/23 at 6:12 pm to BigPapiDoesItAgain
quote:
His spending was so out of control and anyone with any knowledge of the trade could easily tell that what he was spending to support his lifestyle was grossly out of proportion to the margins he was making even on the most expensive pieces he was selling. Sure his gross sales were good, but his position in the secondary watch market where he was acquiring his pieces is not the point where the biggest margins are. He was buying high and selling a little higher. Definitely a pyramid scheme.
yep. a fool and his money are easily parted.
I feel bad for any non-wealthy folks that lost a significant chunk of their net worth to this guy
Posted on 11/16/23 at 6:26 am to John88
Hilarious. Our old office was in the Crescent in Dallas and the TPG store was on the ground floor. I never saw their content online, but it seemed like a scam in person. Their offices were always full of brand new electronics, boxes of designer stuff, and they paid the valet's extra to park their cars right in front of their storefront. Very happy to see this.
Posted on 11/16/23 at 7:22 am to John88
Not a "watch guy" but I do occasionally consume watch content on YT so they recommend random vids to me. One I watched yesterday is warning people to avoid consignment selling as they believe the gray market is poised to come crashing down soon.
Posted on 11/16/23 at 8:07 am to BlackPawnMartyr
Latest Rolex YM titanium just started circulating the grey dealers. MSRP 14,5 and listed for 40.
It’s a piece of SS and it’s more expensive on the precious metal iteration. It makes zero sense.
ETA: here is one on MODA.
It’s a piece of SS and it’s more expensive on the precious metal iteration. It makes zero sense.
ETA: here is one on MODA.
This post was edited on 11/16/23 at 8:10 am
Posted on 11/16/23 at 8:46 am to Rendevoustavern
quote:
It’s a piece of SS and it’s more expensive on the precious metal iteration
It is actually Rolex's prpprietary Grade 5 RLX Titanium alloy. This is the only Rolex Titanium watch, but I agree with you that it is silly that it will cost more for most people to obtain than a PM version of the watch. Apparently it will be made in limited quantities much like the 126710 BLRO.
It is essentially a proxy for a Ti Submariner (obviously only 100m water resistance vs 300) from a design standpoint.
Posted on 11/16/23 at 9:22 am to John88
I thought this was gonna be about Ben Mintz of Ole Miss / Monroe.
Posted on 11/16/23 at 9:43 am to Azazello
quote:
Our old office was in the Crescent in Dallas and the TPG store was on the ground floor. I never saw their content online, but it seemed like a scam in person
Gf and I went to their store front a few times just to see some high end watches and it did always came across as strange. Their store was always staffed by teenagers if the owners weren't there
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