Keeping a want list of buyers

Most dealers buy a watch and then look for a buyer. Occasionally it works the other way: you know someone is looking for exactly this reference, at roughly this price, and the watch is effectively sold before you own it. That's a much better deal, and it happens more often for dealers who keep track of what people want.

What to record

Every time someone tells you what they're after, write it down:

• Who they are, and the best way to reach them.
• The reference or references, and acceptable variants.
• Condition expectations, including whether they want box and papers.
• Budget, and whether it's firm.
• Timing, since some buyers want something for an occasion.
• When they told you, so you know how stale the request is.
• Where the conversation happened, and any permission they gave you to contact them.

Keep it somewhere you'll actually check when a watch is offered to you, next to your inventory records rather than scattered in messages. The inventory article covers keeping records in one place.

Where want-list entries come from

• Buyers who missed a watch you sold. They're the most reliable source, since they've already shown what they want and that they'll pay.
• People who asked and didn't buy. Sometimes the price was wrong, or the condition, and a different example would suit.
• Past customers, who often upgrade or add. The repeat buyers article covers staying in touch.
• Trade contacts, who may be looking for stock, as the dealer selling article covers.
• Conversations at shows and meetups, which are full of people telling you exactly what they'd buy.

How it changes your buying

A want list makes some purchases much easier to justify:

• You know the exit, so the sale price in your calculation is grounded in a real buyer rather than an average.
• You can move quickly when a watch appears, which is often what wins it.
• The holding time is shorter, which cuts carrying cost.

Two cautions, though. A buyer's interest isn't a commitment, so the deal has to survive them changing their mind. Price it in the max buy calculator using what the open market would pay on a quiet week, rather than the figure one enthusiastic person named. And never pay a premium you can't recover because you're sure a particular buyer will take it.

Sourcing to order

Sometimes a buyer asks you to find something specific. That's a good relationship to have, and it needs clarity:

• Agree what you're looking for, in detail, including acceptable condition and variants.
• Agree how you'll be paid: a price you'll quote when you find one, or a fee for sourcing it.
• Don't take money up front for a watch you don't have, unless there's a written agreement covering what happens if you can't find one.
• Say what you can't promise. Availability and price are outside your control, and a buyer who understands that stays patient.

Contacting people well

• Only when it matches. Sending someone a watch they didn't ask for teaches them to ignore you.
• Lead with the specifics: reference, condition, what's included, price, and photos.
• Give them a fair chance to decide, and say honestly if someone else is interested. Invented urgency is remembered.
• Respect their preferences about how and how often you contact them, and stop when asked.

Keep it current

Requests go stale. People buy elsewhere, budgets change, tastes move. Review the list every few months, drop what's clearly dead, and check in with the entries you're unsure about. A short, accurate list beats a long list you don't trust.

Sourcing a watch for a customer covers the version where someone asks you to go and find one.