231: Investing in Luxury Watches with European Watch Company's Joshua Ganjei

Invest Like a Boss

Sam Marks Johnny FD Derek Spartz

Investing, Business

4.8 • 518 Ratings

🗓️ 26 May 2022

⏱️ 85 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Derek interviews European Watch Company representative Joshua Ganjei about the explosion of interest in trading and investing in luxury watches. Joshua breaks down watch culture, what the market looks like, what brands/models are hot and which watches are the most sought after today. Then Derek and Johnny share their experiences with high end watches and how they're looking to get in on this opportunity.

Established in 1993, European Watch Company is one of the premier watch dealers in the world. This family business strives to treat you like family. European Watch Company offers seamless and trusted watch buying, selling and trading services globally. The 5- Star reputation, and the curated selection of the finest timepieces in the world is what sets this business apart. The in stock inventory listed on the website is always up to date, and is ready to be shipped globally to your door. Download the iOS app from the App Store to see a continuously updated inventory of the finest watches in the world.

Listen to ILAB 231 on iTunes here or subscribe on your favorite podcast app.

Where we are:

Johnny FD – Poland / IG @johnnyfdj
Sam Marks – Barcelona / IG @imsammarks
Derek Spartz – Los Angeles / IG @DerekRadio

Sponsor:

Netsuite
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Discussed:

Johnny’s new ‘luxury’ watch mentioned in the episode

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ArtofFX – Start with just a $10,000 account (reduced from $25,000)
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*Johnny and Sam use all of the above services personally.

Time Stamp:

10:23 – How did you get involved in the business?
16:33 – Can you tell us more about your business?
18:33 – Is your business mainly local or international?
21:05 – How has the interest in the industry increased over time?
27:35 – What is the average type of collector?
31:10 – Do you have a suggestion for a “starter” watch for a collector?
35:51 – Are the collectors more interested in the older models or the newer models?
39:34 – Are watch companies doing collaborations?
42:16 – How do you ensure authenticity?
45:05 – Any recommendations for keeping the quality of the watch?
47:30 – Is there a way to buy one at a retail place?
49:05 – Patreon Question: How much for a Rolex day date?
51:07 – Patreon Question: How has smart watches affected traditional watches
53:00 – Patreon Question: What's the best way to appraise a watch?
54:10 – Patreon Question: How much higher can the Rolex Royal Oaks keep going?
55:42 – Patreon Question: What are your thoughts on a non-swiss brand?
57:33 – What are your favorite watches in your collection?
63:17 – Derek and Johnny review

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Transcript

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0:00.0	What is up, bosses? Before we kick off this episode, I want to tell you about our brand new sponsor,
0:05.2	NetSuite, the CFOs that get it, get it. The CFOs that don't, don't. Let's talk about the CFO,
0:12.5	the chief financial officer. Today's CFO is critical to the strategy and success of the business.
0:19.3	And in growing companies, there are two kinds of
0:21.8	CFOs. One who's struggling to keep up, spreadsheets everywhere, manual processes, errors,
0:27.5	and lack of visibility into the numbers. It takes weeks to close the books. The other kind
0:33.0	is on top of their game, automated reports, inventory, e-commerce, and HR flow into the financial model
0:39.4	seamlessly. Insights coming with the click of a button. With visibility and control of your finances,
0:46.4	inventory, HR, planning and budgeting, NetSuite is everything you need to grow all in one place.
0:53.8	I'm going to tell you all about the awesome features of NetSuite during the break,
0:57.8	but if you want to join the over 29,000 businesses already using NetSuite,
1:02.2	just head over to netsuite.com slash iLab for a special one-of-a-kind financing offer.
1:09.2	That's netsuite.com slash iLab. NetSuite.com slash I-L-A-B.
1:16.5	All right, let's kick off this episode of Invest Like a Boss. Welcome to the Invest Like a Boss podcast.
1:22.7	I'm Sam Marks and I'm Johnny FD. We're self-made entrepreneurs who invest our own money and use
1:27.1	modern technology to invest like a boss.
1:29.0	Join us each week for exclusive interviews with our network of modern investors, business owners, and multimillionaires to discover new ways to invest our hard-earned cash.
1:40.1	Hey, what's up bosses? This is Johnny and welcome to episode 231 of the Best Like a Boss podcast.
1:46.8	Derek Sparts, how you doing, buddy?
1:49.4	I'm personally doing well. We're recording this in the morning, a little sleepy.
1:54.0	Kind of notice something on my computer I've never seen before.
1:57.7	Okay.
	...

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