OT: Selling a Rolex privately?
06-21-2024, 11:08 AM
#61
Also, I recently came across a Patek Philippe replica that's eerily close to the original. It's amazing how replica technology has advanced. If you're weighing options or exploring alternatives, replicas like these can offer a similar look without the hefty price tag.
07-09-2024, 01:47 AM
#62
The issue with selling to a retailer is that they usually have to report the purchase/sale for tax purposes as it is "listed personal property" - which means you get dinged for the capital gains on the watch. If you sell privately, this is not an issue. One of my good friends is an accountant, and he says that no one ever reports their gains on sales of watches and the CRA does not look for it. Just my two bits.