Timepiece Gentleman Shut Down?

Anthony posted an odd story on Instagram last night saying something along the lines of: You can never guess my next move.

No idea what happened. I’ve been to their store a few times and have met the team but never bought/sold anything from them

They switched to a consignment focused business model a few months ago so I’m guessing they have a lot of watches in their possession that aren’t exactly theirs. I’m interested to see how this unfolds

Not much info yet but here’s a quick article: https://www.watchcollectinglifestyle.com/home/dallas-grey-watch-dealer-the-timepiece-gentleman-vanishes-with-millions-in-consignment-inventory

 

I was reading about this on another forum. Either rebranding or the CNC of watches.

 

Yikes. Hope no one here lost $$.

 

Lots of articles like this by doing a google search: https://vegasmagazine.com/how-to-build-an-empire-without-spending-a-single-penny

And: https://leadership.ng/farrer-speaks-on-what-separate-gentleman-timepieces/

From the article: When Anthony William Farrer launched Gentleman Timepieces in late 2017, he simply had one mission; to introduce credibility in the wristwatch dealership and provide an avenue for wristwatch lovers, enthusiasts and collectors to get the luxury wristwatch they desire without fear of being ripped off, scammed or played. For so long, that important component was missing; a middleman who could get you authentic, neatly used and very well-polished pre-owned luxury Timepieces at very competitive rates.

Looks like they were able to dazzle those outside of the industry

 

That would be the ideal scenario, but with each passing day it seems less plausible.

 

IMO has to be a poorly executed marketing stunt, guy(s) can't hide if the Feds get involved, where are they going to go? On the flip side, this stunt will cost him a lot of business, imagine you have a RM/5711 on consignment with him and he's not returning your call, then pops up on social media "I'm back" without warning or heads-up, would you still trust the guy?

Or this could be another case of "getting high on your own supply" and cautionary tale of "buy the seller"?

 

Have to admit I'm hanging on every detail of this story unfolding. Started watching these guys a couple months back and figured it was going to be a wild ride that ended in disaster with some type of kidnapping/murder/extortion angle. At this point i think its 50/50 that they either ran out of money or they are stuck without any store space at the moment as their lease ended and they didn't have a new spot lined up. If it was all a stunt, I expect they are going to have a hard time getting back into their dealer groups or being in the consignment business. Maybe its a pivot into a TV show and watch sales isn't going to be their main source of revenue.

 

Someone posted something yesterday on YouTube, think Anthony? was going it alone.


Sent from my iPad using FerrariChat

 

I’m leaning towards publicity stunt as well. Poorly executed as I think this violates a lot of trust.

All their sales staff and videographer deleted their instagrams. I doubt everyone would have followed Anthony and Marco if it was illegal but who knows. Crazier things have happened.

So far I have not seen anyone commenting or posting on forums that they have a watch on consignment with them

 

Looks like it was a PR stunt so that’s good

Social media blackout while they went and did charity work at a couple Dallas organizations. Now auctioning off Rolexes to benefit those organizations.

Looks like they also launched a new website. Sounds like they were keeping in touch with clients throughout so that explains why there weren’t any posts of people saying “they stole my consigned watch” etc.

 

A long video shows they took the week to contribute to charity and see who was in their corner or not, essentially. It has the makings of "being strategic" but falls short for obvious reasons, as well as details shown in the video; like the call with a client that in fact he didn't give a heads up to, with 3 watches on consignment, and Anthony had to ask which ones. In any business, this is not confidence inducing let alone the situation.

 

Meh I just watched the video and he was pulling up what he had as he asked the guy sort of in a rhetorical way... I wouldn't take anything from it

 

The backlash against these guys right now is incredible. They definitely deserved to take some ****, but the angry, frothing at the mouth internet mob is after them now. Basically cancel culture, and any of their former associates in the youtube watch dealer community are distancing themselves for fear of having the mob come after them. I've even seen folks suggest one-starring Nick and Sam's on Google reviews just because the TPG eats there.

 

This whole thing was a big yawn. In a way I’m glad this happened, because for me, with a hot market, it underscores the potential to get ripped off in the grey market. Not saying that these guys ripped anyone off. Just that if I’m purchasing a hot watch, or any watch, buy the seller as they say. I don’t mind paying a little more for something snd having the piece of mind that the seller will take care of any potential problems. Nothing I’ve seen out of these guys has inspired that kind of confidence.