$91,670 watch!

[sharpturn]

Warriors,

I'm a newbie and was flicking through Amazon searching for ideas for products to sell and I came across some really expensive stuff. One particular item caught my eye...a watch that cost nearly $92,000. It was actually discounted from $145,000.

My newbie question is would it be unwise to have a go at selling this item or other really expensive items like this?

I mean, can there be any marketers out there that do go for these items and are very sucessful?

Another question springs to mind....Who would by a watch at such a high price?!!! I mean, I could buy a nice little appartment here in Spain with that kind of cash!!

The mind boggles!

Andy

[RGallowitz]

It's difficult to PITCH a watch of that price to anyone.
If a person is going to spend that amount of money on a watch, he is not going to buy it online. He/she will visit the jeweler to try it on etc...

I think the only way would be via ebay and you'll have to represent yourself as a trustworthy person and you'll have to do some solid negotiation.


Regards,
Reinhardt

[CLcrax23]

If I hit the lotto and have the money to buy a $90,000 watch, I'd probably take the time to go to the store and look at it first...

[sharpturn]

That's what I was thinking.

So what do you think would be a good marketer's price range for a product?
Of course this depends on the product but I figure most marketers have a maximum and minimum price range that they work with when chooseing a product to sell. Or am I wrong?

Andy

[JayXtreme]

Originally Posted by DarkSaber

i dont think anyone would buy a $92,000 watch. So i think that the people selling it aren't making much profit

If you don't think anyone would buy a $92,000 watch, then you are wrong.

This happens more than you could imagine... it's obviously not the watch of your local factory worker, but it's not such an expense for many people.

Peace

Jay

[Daniel Brock]

I made a luxury watch site - have yet to sell anything from it yet.

Two reasons:

1. Lot's of people in the niche trying to get commission on $10,000+ watches.
2. Would you honestly buy something for that much money online? Probably 1 out of 100 people who buy a watch like that will buy it online. The other 99 want to go to a store, browse, see how it looks on them, then make their buying decision.

[Jesse Kemmerer]

If you're trying to make high commission by selling an expensive
product or service online, why not go with the online coaching
route? Find an online coaching service (IM?) with a high-paying
affiliate program, then create a review site and rank highly on
Google.

[sharpturn]

Thanks for the input guys....lots of good advice. One more thing.....I don't seem to hear much about marketers selling physical products from Amazon or other shopping sites. Am I going into a difficult area of IM?

I just thought maybe I could sell some stuff for Christmas....

[Andrew Maule]

Lil Wayne just got a $1 million dollar watch for his birthday, there are tons of millionaires out there who will spend $100k on a watch, could be worth a shot if you made a site and got some good PR...

[timpears]

It will not do you much good to sell such a watch or any high priced item from Amazon as from what I heard a few days ago, Amazon limits the commission they pay to a maximum of I think it was $25. So from what I understand, they pay about 4% commission, that means that you will earn no additional commission on any sale that goes over $625.

I am not an Amazon affiliate and have no expertise in their program. The statement I made is simply something that was relayed to me recently by somone that is. I assume that it is true, but can not state that with any authority.

[Jason_V]

Originally Posted by Daniel Brock

1. Would you honestly buy something for that much money online? Probably 1 out of 100 people who buy a watch like that will buy it online. The other 99 want to go to a store, browse, see how it looks on them, then make their buying decision.

And some of them want to have the sales people kissing up to them

"Oh that looks fabulous on you."

"That watch totally compliments your style Mr. Bigshot."

[taylordstuff]

I am an amazon affiliatee and I don't know of any restrictions. I just think that it would be very difficult to sell an item that expensive online. When was the last time that you purchased something that expensive online?

[sharpturn]

If we have come to the conclusion that most people don't buy expensive products online then what is the maximum price an affiliate should be looking at to sell?

[cclou]

Originally Posted by timpears

It will not do you much good to sell such a watch or any high priced item from Amazon as from what I heard a few days ago, Amazon limits the commission they pay to a maximum of I think it was $25. So from what I understand, they pay about 4% commission, that means that you will earn no additional commission on any sale that goes over $625.

I am not an Amazon affiliate and have no expertise in their program. The statement I made is simply something that was relayed to me recently by somone that is. I assume that it is true, but can not state that with any authority.

Maybe true for some products, but not true in general. I don't sell a lot of high priced products, but I do have a commission of $32.68 from an $800 TV I sold this month. Electronics do stay at 4%, so they don't go up in commission like other products do. Not sure about jewelry.

[Sophist]

Reading this thread makes me say once again: Sell stuff that you're interested in. Stop looking for a quick buck and a crazy high commission. You dont know the first thing about luxury watches. So how well do you think that translates to your sales site? Not very well. Have you ever heard of IWC?, Jaeger-LeCoulter? Patek? Do you know that some are owned by an investment firm? You probably dont because you're looking for a quick sale and high commission.

On the other hand if you do know about superior quality watches and have a general interest in them......and im talking about superior quality watches, not the over-sized crap that rockstars like lilwayne wear.....then you'll probably do very well at starting a site based around them. People want to go into a store to try those things on and learn all about them, but people with that type of money are also very financially saavy and theres a very good chance that theyll buy it online after trying it out in a physical store.

Point is: sell something you're personally interested in. It comes across in your sales site.

[Michael Taylor]

And I would add, sell a one hundred dollar watch before you try to sell a hundred thousand dollar watch. If you sell a few of those hundred dollar watches...sell a two hundred dollar watch, and so on.

If you find out you can't sell a $100 watch, you just may not be able to sell a watch for $100,000.

[GuerrillaIM]

I think a lot of people here miss how people use the internet these days.

People do indeed go to the jewellery shop and try it on, then they go home to find a cheaper deal online. Or perhaps they were thinking about buying it but werent sure while in the jewellery store and then made up their mind at a later date and go online to get a good deal (even rich people enjoy getting a good deal).

Sometimes myself I think about buying something for a while before I actually buy it.

[derekwong28]

Patek Philippe Sky Moon Tourbillon Mens Wristwatch Model: 5002P

Patek Phillipe 5002P

$1.7M - Free Shipping!

This is the most expensive production watch in the world. I wonder whether this listing is real. A prospective buyer usually has to make an appointment to the Patek Phillipe headquarters in Geneva where he will be given a tough interview before he is allowed to place an order. Once the order is placed, it will take a few years for the watch to be delivered. Once it is delivered, the watch will definitely be worth much more than what he paid for.

Now back to the question as to whether people will buy watches over $10,000 online. The answer will be a definite yes! A lor of luxury watches know what they are looking for and do not need to see the article before they buy. The reason is that the watch will not be worn anyway. It may be extremely difficult to find a lcoal shop that will stock a particular luxury watch.

A good site to learn about this subject would be Timezone

http://www.timezone.com/

By the way, a great luxury watch is an investment. A Patek Phillipe watch almost never loses its value. It sums it up in their advert.

"You never actually own a Patek Philippe. You merely look after it for the next generation."



Derek

[reapr]

Nice watch ... I'll start it at 5 dollars ...

Anyone remember the person who sold a missile silo on eBay several years back?

[rajuthan]

Originally Posted by Andrew Maule

Lil Wayne just got a $1 million dollar watch for his birthday, there are tons of millionaires out there who will spend $100k on a watch, could be worth a shot if you made a site and got some good PR...

Heres a pic of it LWBD14.jpg (image)

[sydnj]

Talk to Jacob or Benny. They made selling the $50,000.00 watch easy. Not sure if it would work online. You need athletes and rappers. This is a niche market. No way you would get a watch collector o spend that kind of money. I collect watches not that expensive but I would never buy one online.

[Big JP]

I would say selling any very high priced item over the net is hard enough for the merchant, to sell them as an affiliate, well, good luck...

[sharpturn]

Thanks everyone.

I guess the majority of these posts are saying don't sell really expensive stuff online. That's a shame coz I was looking forward to having a go but I'm just a newbie so what do I know..lol

[Joshua.E1]

This watch is not an average person would buy, the buyer must be a rich fellow then.

Your marketing would then be to target to high end type of people (in this case rich people). Your website should not be talking about some other watches that are selling at $50 a pierce, your website should be selling high end watches instead.

[GuerrillaIM]

Originally Posted by sharpturn

Thanks everyone.

I guess the majority of these posts are saying don't sell really expensive stuff online. That's a shame coz I was looking forward to having a go but I'm just a newbie so what do I know..lol

Typically the higher the sale price and comm, the lower the amount of sales that are being made. Starting out with a lower ticket item will give you quicker feedback which you may need when getting started, but there is nothing stopping you making more than 1 site and attacking both ends of the market.

[JayXtreme]

Look..

Here's the thing..

It is JUST as easy to sell a high ticket product, as it is to sell a low ticket product.

In my experience, the same steps are taken in the purchasing cycle, and the same result can be found with the right TARGETING of your marketing....

I can fully appreciate that some people might not be able to see this stuff being sold online, but it gets sold EVERY single day in the $$$$$$ billions....

Don't take my word for it... go do your research, you'll see.

Peace

Jay

[Kustom]

It is very achievable to sell a high ticket item for a good commission and make alot of money from doing so.

I have some friends in the USA who are now making insane money. What they do/done was went to independant estate agents in person and booked a meeting mith the person in charge. From there they went on to talk this person round to a deal where they would get a percentage of any sale which either came through them or there website.

I think a key thing to learn about business is this: Although so much emphisis is always places on how different we all are, essentially we are all EXACTLY the same.

But as always the keys are passion, drive, determination, focus and confidence. If you go out there and talk to business owners, make deals with people, sell products, do all the things that your mind "KNOWS" you have to do and you will succeed....

....because as long as you keep it up, even if you fail, you IMPROVE yourself making you more likely to succeed.

Just my two cents.

Kustom | KustomMade.

[Mike Hersh]

People DO buy expensive things... Period.

As Jay was saying above, I don't think that someone will actually buy it online.

You can be lucky and sell one of these in the next 10 years or so...lol...

But think about it for a second, if people do not buy expensive things like that, why would they even bother to upload the details of the product online?

[Louise Evans]

YIKES!

And I thought my $7k rolex was a 'luxury' watch.

The bar has just been risen and christmas isn't too far away.. time for me to drop some major hints this year

[deanfz]

I don't think that this is impossible or much harder. Let's say there is a watch that brings you 100000 Dollars in profit if you sell it. Then there is another that only brings you 10 dollars in profit. Of course now everybody would say that is it easier to sell the cheaper one. Of course it is. But you can look different at it.

100000/10= 10000

So to make 100000 dollars you need to sell 10000 ten dollars watches. I think that it is as hard to sell a sixfigure watch as to sell 10000 ten dollars watches.

It is the same effort in my opinion. But of oruse selling a cheap watch is almost an autopilot thing. But when you sell expensive ones you have to take care of the customer and be in contact with him all the time. But once you hit the right one you got your six figures.

All the best
D.

[Jenb]

People do spend big money online, but I would go with something someone doesn't care about holding or seeing. Maybe software or business servers....something along those lines...just my 2 cents!

[Richard Tunnah]

I tied in with a luxury spanish villa developer in Spain at the back of 2006 finding potential buyers and getting a commission. It did work well until the bottom fell out of the market and the company went bust! It's all about finding your target audience online as Jay suggested. You usually need a much more focused online stragegy to find the higher ticket buyers online but it can be no more difficult than finding buyers for micro niche products.

Rich