Seiko 7A38 - by the numbers

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Forum Home > eBay, LeBonCoin, Mercado Libre, Yahoo Japan, etc. > Another definite case of Deja Vu and would-be profiteering - WorldWideWeb66

Seiko7A38
Site Owner
Posts: 12495

I may be wrong, but somehow I don't think I am. ;)


Quite a nice-looking used 7A38-6010 sold on eBay in the States on 9th of March for a relatively low $177.50. 

See: http://www.ebay.co.uk/itm/290679098084

Vintage Seiko Quartz Chronograph – Model 7A38-6010




Earlier this evening, a new listing appeared on eBay in the States, with a rather opportunistic Buy-it-Now asking price of $499.00

See: http://www.ebay.co.uk/itm/130666277324

Vintage SEIKO 7A38-6010 Black Chronograph Watch! Excellent!




Obviously the current seller's photos are much better, but does that justify expecting an instant mark-up profit margin of over 180% ?


March 16, 2012 at 9:59 PM Flag Quote & Reply

7ARCool ©
Member
Posts: 168

Definitely the same watch, spot the small mark to the right of the 35 marker on bezel insert.

This guy got a good bargain picking this up for $177.50, I have made an offer, well below his asking price though!

March 16, 2012 at 10:07 PM Flag Quote & Reply

Seiko7A38
Site Owner
Posts: 12495

7ARCool © at March 16, 2012 at 10:07 PM

Definitely the same watch, spot the small mark to the right of the 35 marker on bezel insert.

This guy got a good bargain picking this up for $177.50, I have made an offer, well below his asking price though!

Check the remainder of the current seller's photos - particularly the head-on view, and there are other marks which match exactly.

I've sent the seller a question - asking him outright .... though I don't expect he'll answer. 

Someone else has offered him $177.50, I believe. 

March 16, 2012 at 10:17 PM Flag Quote & Reply

jair1970
Member
Posts: 169

Ah such mischief!

He got a bargain all right though.  I thought the listing was another resale, y'know when you feel like you've already seen those pictures?


Proper trader though, private listings, daft price.  I'd expect NOS at that price and maybe a rarer model too...

March 17, 2012 at 12:20 PM Flag Quote & Reply

Seiko7A38
Site Owner
Posts: 12495

Yes, James.

Common as muck, really - at least, compared to it's close relative, the JDM 7A38-6030 anyway. :P

Check out the thread: http://www.seiko7a38.com/apps/forums/topics/show/7203395-7a38-6010-saa040j-black-chrome-g-p-small-diver-


As for the going rate for a NOS example of a 7A38-6010, we have a recently-established benchmark to measure against:

http://www.seiko7a38.com/apps/forums/topics/show/7307143-my-literally-newest-incoming-seiko-7a38-painfully-slow-reveal-

So perhaps I should list my previous one (which I am planning to sell eventually), with an opening bid price of say £200 .... 

 

March 17, 2012 at 12:58 PM Flag Quote & Reply

Seikotik
Member
Posts: 14

180% profit margin is indeed a nice number.  Keep in mind, that's the one month ROI if he sells it in less than a month.  His true ROI would be 2,164% !!! 

Taking this into consideration, let's say he sells it for $200 by taking better pictures and clears a modest $22.50 (not including shipping and other costs).  Then although his profit margin/ROI is 12.68%, if you annualize it, his true ROI would 152% !! 

That's pretty good for one month's of "work".  I liken this more to arbitrage than work.  Anyhow, in the states, I think the current 5 year CD return is like 1%.  Compare that to his one month of work of 12.7% ... not too shabby even if he sells it for $200.

March 20, 2012 at 8:23 PM Flag Quote & Reply

Seiko7A38
Site Owner
Posts: 12495

So perhaps I should list my previous one (which I am planning to sell eventually), with an opening bid price of say £200 ....


Perhaps I should indeed  ....

Because that one just (re)sold for $395 (approx. £249.26).  See: http://www.ebay.co.uk/itm/130666277324

March 22, 2012 at 9:56 PM Flag Quote & Reply

Seikotik
Member
Posts: 14

$217.50 (123%) profit ($395-$177.50) in 13 days.  Annual ROI = 1,476%.  113% return earned per day.  Not shabby. 

--

Soon to follow:


March 26, 2012 at 1:05 AM Flag Quote & Reply

Seiko7A38
Site Owner
Posts: 12495

You missed out on a potential for investment there, then Meng. :( Weren't you the losing bidder on the original auction ? ;)


http://offer.ebay.co.uk/ws/eBayISAPI.dll?ViewBids&_trksid=p4340.l2565&rt=nc&item=290679098084


If I'd known you were going to give up on it so easily, I might have had another punt at it myself. :P

March 26, 2012 at 1:39 PM Flag Quote & Reply

Seiko7A38
Site Owner
Posts: 12495

Having tracked his activities for the last couple of months, it's becoming clear that 'Worldwideweb66' is another frequent eBay re-seller.

His latest offering is another 7A38-6010. The same watch was first listed on eBay in the States by 'ejlpawnbrokers714' on March 22nd:


http://www.ebay.co.uk/itm/170809666584 with an opening bid price of $199.00, which was subsequently reduced to $169:

http://www.ebay.co.uk/itm/180866668001 finally selling on 16th May, for a further reduced price of $149 (approx. £95.93):

http://www.ebay.co.uk/itm/180876306656


Seiko Quartz Chronograph Sports 100 Black Stainless Mens Watch



 


Seiko Quartz Chronograph Sports 100 Black Stainless Mens Watch. In nice condition, Works great. Item shows normal wear with some scuffs and scratches. Has some finish wear on one side of the band. Comes as seen in pictures, so don't miss out on this great deal.


The (only) winning bidder ID shows as y***k (1651), which is the same as the winning bidder ID in the previous auction in March.

This is clearly the same 'alternate' eBay ID 'Kyiaye' that 'Worldwideweb66' uses for purchasing watches intended for resale.


The exact same 7A38-6010 was listed by 'Worldwideweb66' on Sunday 27th May, but this time with an opening bid of only $0.01 cent:


http://www.ebay.co.uk/itm/130703031981

Vintage SEIKO 7A38-6010 Black Chronograph Watch! VGood!



 


This auction is for a vintage SEIKO QUARTZ 7A38-6010 SPORTS 100 Series Day-Date Chronograph Watch in good cosmetic and working perfect condition. Produced and released in 1983. Case and Band are black PVD coated metal and gold tone accent. Dial and hands are original and never been touch before. All functions are working properly. Chronograph hands can reset to zero/12O'Clock position exactly! Crystal is very clean. Movement is very excellent condition. There is some black color PVD worn off place on the band! Please check the all photos. This is a SEIKO's First Generation Chronograph Quartz watch. Keep the right time. 100% Made in Japan. Maximum 7.5" inches wrist will be fit! Very good for vintage seiko collectors or for your daily use! Very good example of SEIKO's First Generation Quartz Chronograph watch! Really hard to find today in this condition.

 

Compared to the previous eBay seller's stark photos of the worn coating, Wai's pertinent photos are typically cleverly 'soft focussed':





Caveat Emptor, Gentlemen.  


May 27, 2012 at 4:26 AM Flag Quote & Reply

Seiko7A38
Site Owner
Posts: 12495

It's surprising what can be achieved with half a dozen warmly-lit soft-focused photos. :|

That 7A38-6010 (purchased by Wai for $149) sold for $255.99 (approx. £166.92) after 27 bids, in the early hours of this morning. :roll:


June 3, 2012 at 5:03 AM Flag Quote & Reply

Seiko7A38
Site Owner
Posts: 12495

I was forgetting we already had a dedicated thread for this particular eBay re-seller Wai Phyo 'Worldwideweb66'. :roll:


On the 18th June he bought a well-used 7A28-7049 on a distinctly iffy plastic / nylon replacement strap for $100:



http://www.ebay.co.uk/itm/261048538972

Seiko Chronograph vintage watch 7A28-7049



He swapped the strap for a thin stainless bracelet which came on another 7A28 which he'd purchased a couple of days earlier ....


A couple of cleverly lit and very softly focused photos that conceal the majority of the flaws in the bezel insert, and Hey Presto ! 


http://www.ebay.co.uk/itm/130719536999

Vintage SEIKO 7A28-7049 SPORTS 100 Chronograph Watch! VGood!




All of a sudden it's worth $385 !!!    Or possibly not.   You decide. 


-------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Belated edit - another 200% profit for Wai Phyo (worldwideweb66). He subsequently resold that 7A28-7049 for $300. 


June 25, 2012 at 11:35 AM Flag Quote & Reply

Seiko7A38
Site Owner
Posts: 12495

There's probably not a great deal of purpose to my labouring the point, but San Francisco based eBay dealer WorldWideWeb66 (a.k.a Wai Phyo) continues to do very good business by buying low; taking warm softly-focused photos and re-selling quickly for fat profits.


This is a 7A38-7029 he bought in October 2012 - admittedly something of a gamble, based on the original seller's diabolical photos:


http://www.ebay.co.uk/itm/280987818744



.... and here's where he re-sold it, less than two weeks later, for a handsome profit - but still with a fault on the chronograph:


http://www.ebay.co.uk/itm/140868564471


December 4, 2012 at 5:38 AM Flag Quote & Reply

Seiko7A38
Site Owner
Posts: 12495

His newest 7Axx listing, overnight, is for a tidy-looking 7A28-7049 - another very popular model in its day and latterly with collectors:


http://www.ebay.co.uk/itm/130813255096

Vintage SEIKO 7A28-7049 SPORTS 100 Chronograph Watch! VGood!




Here's where he bought it, a week ago, for a comparatively low $142 (presumably by persuading the seller to end the listing early):


http://www.ebay.co.uk/itm/130811162063


December 4, 2012 at 5:42 AM Flag Quote & Reply

nova
Member
Posts: 109

Vintage SEIKO 7A28-7049 SPORTS 100 Chronograph Watch! VGood!

With which bracelet is this?

B1075-P and a 5 hole clasp ?!

This model should have B1075 only and a 7 hole clasp or am I wrong  guys :)

December 4, 2012 at 6:41 AM Flag Quote & Reply

Seiko7A38
Site Owner
Posts: 12495

Well spotted, Andre. ;)




The p/n B1075(S) bracelet looks correct - to my untrained eye :P but as you correctly pointed out, this US export model is normally seen fitted with the 7-hole 35mm long SQ clasp. It's possible that an incorrect replacement was fitted at some point. It's not unknown for these clasps to break - usually on the Z-fold part. Then again, it might be a manufacturing variation. I've seen it on other models.


I don't bother saving many photos of 7A28's, but here's one showing the longer clasp from an eBay listing back in July 2011:




The difference clasp assembly fitted to Wai Phyo's 7A28-7049 might be attributable to the P suffix stamped into the bracelet ends.

Anyway, details like this apart, my original point was, is how much profit is WorldWideWeb66 going to have made in 5 days time ? 


December 4, 2012 at 6:50 AM Flag Quote & Reply

Seiko7A38
Site Owner
Posts: 12495

The answer being $268 ! :o


http://www.ebay.co.uk/itm/130813255096


Much as I hate to say it, but something about this smells to me. 

Yet another of these dealer / re-sellers who hides behind the cloak of the private listing - bidders' identities protected auction:

http://offer.ebay.co.uk/ws/eBayISAPI.dll?ViewBids&_trksid=p2047675.l2565&rt=nc&item=130813255096

Bought for $142 - sold 10 days later for $410 ??? Go figure ....


December 9, 2012 at 2:24 AM Flag Quote & Reply

Mike Kelley
Member
Posts: 14

As a reluctant newbie, with knowledge of weekend auction frenzy of ebay, I bare myself as the auction winning schmuck of the above www66 offering. :mad: I get from this thread that www66 is infamous due to the obvious openly shrewd capitalism, rather than being one of the many other actual questionable sellers Ebay permits to list their wares. I had inquired about this listing over at SCWF and was referred here for more enlightenment. Did I learn...yes. Did I follow...not exactly. Caveat Emptor, of course. So, I'll see. At least there's a 14 day return policy. Forgive me this indiscretion, for I have learned a valuable and not so cheap lesson. This too shall pass.

December 10, 2012 at 8:29 PM Flag Quote & Reply

Seiko7A38
Site Owner
Posts: 12495

Welcome aboard officially, Mike. :)

You certainly won't be the first, nor the last, to fall for one of worldwideweb66's offerings - as other forum members have also done.

The moral of this story ? :/

With more diligence / patience and a little legwork of your own, you could have bought exactly the same watch for rather less money.

Thanks again for your candour. ;)

December 11, 2012 at 5:56 AM Flag Quote & Reply

Mike Kelley
Member
Posts: 14

Not a problem. Confessing an obvious faux pas is all part of the learning process. And thanks for the advice. Patience plays a huge part in watch collecting, not to mention the financial side that effects every decision...good or bad.

December 11, 2012 at 8:56 PM Flag Quote & Reply

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