Roman Sharf: Inside the $100M Watch Empire: Secrets to Scaling | DSH #1529
Discover how the watch market has evolved, why luxury watches are more than just flexes, and the surprising role trust plays in this handshake-based business. Roman also spills on navigating the highs and lows of the market, surviving economic dips, and the fascinating rise of rare collectible watches. Whether youโre a seasoned collector or just curious about the world of luxury timepieces, this episode is packed with valuable insights you wonโt want to miss! โโจ
Watch now and subscribe for more insider secrets. ๐บ Hit that subscribe button and stay tuned for more eye-opening stories on the Digital Social Hour with Sean Kelly! ๐ฌ Let us know your favorite part in the comments โ join the conversation today! ๐
CHAPTERS:
00:00 - Intro
00:30 - What Watches Are Really About
05:46 - Hublot Luxury Watches
10:02 - COVID Impact on Luxury Watch Sales
12:18 - Business Insights
15:46 - The Watch Market Trends
19:54 - Romanโs Banking Business Overview
21:57 - Evolution of Online Selling
23:31 - Adapting to YouTube Algorithm Changes
25:01 - Roman's Clever Scam Story
30:23 - Near Business Closure Experience
32:30 - Chinaโs Ghost Towns Explained
34:30 - Hong Kongโs New Rules Impact
35:30 - Tariffs on Luxury Goods
37:10 - Biggest Clients in the Industry
42:10 - Quality of Fake Watches
45:54 - Wearing Fake Watches for Safety
46:40 - Roman's Robbery Experience in London
49:24 - LA's Current Situation
51:39 - Where to Find Roman Online
APPLY TO BE ON THE PODCAST: https://www.digitalsocialhour.com/application
BUSINESS INQUIRIES/SPONSORS: jenna@digitalsocialhour.com
GUEST: Roman Sharf
https://www.instagram.com/romansharf
SPONSORS:
THERASAGE: https://therasage.com/
LISTEN ON:
Apple Podcasts: https://podcasts.apple.com/us/podcast/digital-social-hour/id1676846015
Spotify: https://open.spotify.com/show/5Jn7LXarRlI8Hc0GtTn759
Sean Kelly Instagram: https://www.instagram.com/seanmikekelly/
The views and opinions expressed by guests on Digital Social Hour are solely those of the individuals appearing on the podcast and do not necessarily reflect the views or opinions of the host, Sean Kelly, or the Digital Social Hour team.
While we encourage open and honest conversations, Sean Kelly is not legally responsible for any statements, claims, or opinions made by guests during the show. Listeners are encouraged to form their own opinions and consult professionals for advice where appropriate.
Content on this podcast is for entertainment and informational purposes only and should not be considered legal, medical, financial, or professional advice.
We have done our best to present the facts as we see them, however, we make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided. In addition, the views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of the producers of this program.
#millionairelifestyle #luxury #richlifestyle #billionairelifestyle #wealth
Learn more about your ad choices. Visit megaphone.fm/adchoices
Listen and follow along
Transcript
This podcast is supported by Progressive, a leader in RV Insurance.
RVs are for sharing adventures with family, friends, and even your pets.
So, if you bring your cats and dogs along for the ride, you'll want Progressive RV Insurance.
They protect your cats and dogs like family by offering up to $1,000 in optional coverage for vet bills in case of an RV accident, making it a great companion for the responsible pet owner who loves to travel.
See Progressive's other benefits and more when you quote RV Insurance at Progressive.com today.
Progressive Casualty Insurance Company and affiliates, pet injuries, and additional coverage and subject to policy terms.
This This doctor buys this car from the guy and he tells him, Okay, send me the money, I'll have the car delivered.
I'm taking care of the shipping.
Meanwhile, he calls me and embargoes on two watches with us for $54,000.
He sends $54,000 with the wire direction.
Yes, I'm mine, not the guys.
The doctor calls us, like, oh, you know, I just realized I'm sending you guys money for a BMW.
It's like we're a watch business.
He's like, I already knew.
Didn't dawn.
I knew that this is fucking fraud.
Okay, guys, got a big watch expert here today, Roman, someone I've watched for years now.
Glad to finally meet you in person.
It's a pleasure meeting you as well.
Yeah, we've been trying to set this up for a while, and you got two watches on today.
Yeah, I come double-risking anytime I come talk about watches or, you know, represent watches, if you will.
Yeah, two patacts, right?
Yep.
Could you explain each one?
So I figured it's okay.
What am I going to wear?
What am I going to wear when I come to see you?
And I said to myself, all right, the watch industry has become a lot about flex, right?
It's no secret.
It always has been a flex, but not to an extent what it is now.
We saw markets shift tremendously during COVID where you saw rising prices of all these watches.
Everybody started screaming, oh, watch index.
20 years I've been saying watches are not an investment in expensive toys.
But unfortunately, due to recent events, you've seen prices climb through the roof.
And what are they climbing?
Rolex, Paddock, Automars, Piguay, Richard Mill, right?
Your top brands.
And people have started.
concerning themselves with two things.
Number one, A, the flex aspect, which is probably about 80% of the reasoning people buy watches today.
And the second thing is the dollar sign.
A, where is this watch going to be in terms of holding value and buying expensive toys?
Yeah, during COVID, you paid 300 grand for a G-Wagon.
Today, you're buying that same G-Wagon for $120,000.
But watches didn't take that big of a dip when that happened.
So there is some truth to the investment aspect of it.
So I brought a 5980, one of the latest models, which is the gene version, right?
The Nautilus, everybody's familiar with it.
1976, Genta designed it.
It was originally supposed to be Piaget, actually.
Piaget turned Genta down.
Probably still biting my elbows over that.
But he made this, and this watch has never looked back, whether it's a steel version, whether it's a chronograph, whether it's a dual time.
This happens to be a chronograph.
I brought the latest one just because I happen to physically like the watch.
It's very attractive.
And then on the other wrist, I brought another patek, and this trades around $185,000 on the market today, right?
The patek on my other wrist, which people will be like, what the hell is that?
It doesn't really look all that cool.
Not really a flex.
You have to pay an additional million dollars to own this because this is a 1518.
This watch made back in the early 40s, 1941 is when they came out with it.
It is the first perpetual calendar chronograph I ever made, serially produced in a pocket, in a watch outside of a pocket watch by Check Philippe.
So different kind of flex, right?
This is for those that know, and this is for those that everybody knows.
Yeah.
So that's kind of why I decided to go with the two, Protect Philippe being the Rolls-Royce of all watches, if you will.
Rolex is still king in terms of popularity and production and sales, but Protect Philippe is sort of that.
How many of those exist?
The one that's amazing.
So they made a total of 281 of these starting in 1941, but they did about 220 of those were done in Yellowville, which is what you see here.
There were were some rose golds, and there's only four known stainless steel.
I looked at one in Geneva actually a month ago when I was there for watches and wonder.
The guy was asking $20 million for it.
And he'll get it.
This watch is a bit rare
out of the 220 made in yellow because they break into two versions.
Because they made them for 15 years.
The early 40s edition actually said Protect Philippe and Co on the dial as long, and it's known as the long dial, where later they started producing without the coat because it was too long.
So out of the 220 yellow, you probably figure 75% of them survived altogether.
Take off another 25% of the watches that are mangled or the dials are messed up or have been changed out.
These, in reality, there's maybe probably less fewer than 20 of these in the world that exist in good condition.
That's nuts.
Is 20 mil the most you've heard of for a watch?
So, the record current record for Protect Fleet 1518 is about $11 million for the stainless steel.
The one that I saw was a stainless steel that was born on a stainless steel bracelet.
The guy's asking 20 million.
I I think he'll get in the realm of 17 million for that watch.
He's not putting it through auctions.
If he did, it would be way over the last result, but that's the record holder today.
You mentioned the top four brands earlier.
Do you ever see a fifth watch brand?
Oh, there are.
There are plenty.
Again, it depends on what level you're playing on, right?
I mean, if you look at strictly from a sales perspective, you have Rolex, that's number one, and it's number one by far in terms of sales.
It actually the next four brands in a row, Rolex does collectively what they're like, the number two, three, and four together.
Two and three has always been between Omega and Cartier.
Cartier taking the cake last year.
They've been kind of going back and forth.
And mind you, Omega was always number one until Rolex took over and never looked back in the 70s, right?
It took Rolex a while to catch up to Omega.
Omega is also older, right?
So you have Rolex, Omega, Cartier, and then you have the big majors.
But again, if you're talking strictly sales, you know, you're not.
eating Rolex.
They make a million watches a year.
They had 10 billion in revenue a year ago, right?
And then the next, again, and that was bigger than the following three.
But popularity-wise, right, what people are going for is you're going to see, obviously, Rolex, Cartier, Omega.
You're going to see Auto Marspigay and different price level, right?
Now, Auto Marspigay, you're entering an era where you're spending $20,000, $30,000, $40,000, where with Omega and Rolex, you can still get away under $10,000.
And then, you know, you have the ultimate playbill watches, which is Richard Meal.
And as much as people look at them as the ultimate flex watch, which is what they are, they're still a pretty big horological powerhouse.
If you understand horology and mechanics of those watches, they're pretty amazing, along with use of materials.
And then you have a slew of other brands that are out there.
It's just a question of taste.
But if you ask 10 guys that are into watches what watches they're going to reach for within a reasonable budget, those are the brands they're going to pick usually today.
You made a video about Hublo, which is one of the most controversial brands, right?
So thanks to my buddy Nico, you know,
it's actually the watch, the brand is not as bad as it is.
I actually had a sit down with the new CEO, Julian, who was at Zenith, and he did wonders for Zenith.
He elevated that brand tremendously.
But he,
I can't wait to see what he's going to do for Hublo.
You have to understand Hublo from my perspective.
When I started in the industry 22 years ago now, Hublo just celebrated this year their 20th anniversary of the Big Bang.
The Big Bang was that 20 years ago.
It was a Big Bang.
It was probably the number one selling watch.
It came into the market at the time where bigger was better.
And mind you, like, this watch is tiny, right?
Yeah.
So we were sitting at that 36, 38, 40 millimeters being a huge watch.
All of a sudden, they came out with these beautiful looking watches, well designed, at 44 millimeters.
And the name too, Big Bang.
It was probably the number one selling brand
for at least three, four years.
And it was because of the Big Bang.
They never changed anything, right?
They kept with the Big Bang DNA and they're going to continue doing it, just changing up materials, improving on the movements.
Another gripe that people had at the time was like, okay, well, you're charging X.
You're charging 20 grand for a movement that you can find in a $2,000 watch.
Well, so did the rest of the industry at the time.
That was
the Tri-Light from Therasage is no joke.
Medical grade red and near-infrared light with three frequencies per light, deep healing, real results, and totally portable.
It's legit.
Photo biomodulation tech in a flexible on-body panel.
This is the Tri-Light from Therasage and it's next level red light therapy.
It's got 118 high-powered polychromatic lights, each delivering three healing frequencies, red and near-infrared, from 580 to 980 nanometers.
It's sleek, portable, and honestly, I don't go anywhere without it.
A trade, right?
In-house movements weren't really a thing.
Everybody was buying movements off the shelves from factories in Switzerland and putting them in their watches.
Patech did it just as well.
In fact, Patek, for the longest time, didn't have their own chronograph.
They used Lamania, and so did five other brands.
It wasn't a German brand, Langenson.
They made a watch, their own in-house chronograph.
That's when everybody said, okay, I guess we're going to start making our own kind of thing.
I'm impressed with the history, you know, of these watches.
Oh, this is my stuff.
This is what I love.
So for me, it's always been, I'm a walking encyclopedia, as they say.
As I get old, I tend to forget dates and things of that nature, or maybe some names because I suck at names.
But for the most part, Hublo today, I would say, is Hublo is the number 14 most popular brand in the world today.
And mind you, we're talking about thousands of brands.
So being number 14 is huge.
Regardless of what everybody talks about, Hublo is still very much on top.
Production numbers, I think they're top 50 in terms of how many they produce per year.
So they're a really strong brand till this day, regardless of popular, I guess, belief on the internet.
But then for those that hate on that brand for the most part, probably can't even afford it.
And it's still my top 10 sellers today.
Yeah.
I noticed a lot of haters with these big brands like Rolex, they can't get them at retail prices.
So they hate on that, right?
It's listen, it's the oldest trick in the book of supply and demand.
I've seen this back leading up to the 2008
crisis that we had.
Whenever you have the economy at the very top, it's bound to go back down.
But the best part about it is that
So prior to the hype, if you had specific Rolexes selling, let's say, 10 to 20% off retail, then they doubled in price.
Well, yeah, they did come back down.
We had a correction two years ago, but they didn't come back down to 20% off.
They came back down to one and a half X retail.
Why?
Because the secondary.
The secondary is a huge market.
Was it
I think it was Bloomberg, either Bloomberg or Rob Report that were talking about how by 2026 the
secondary market is going to catch on to the primary market, where the primary watch market today is about 60 billion, let's say.
That's bullshit because the secondary market has long surpassed the primary market.
Really?
Of course.
You don't have the tangible data.
If I open up my phone and I show you my WhatsApp, I'm part of this million dealer groups I get added to every single day.
There's millions and millions of dollars that are traded every single day, but who has access to that data?
Nobody does.
Wow.
So the secondary market surpassed.
Of course, because think about it, there's only so many new watches that are produced every year and how many get left over in the secondary.
The trade show we're at today, you walk into that room, there's a billion dollars in watches in that room.
Jeez.
You know what I mean?
So it's like, and it's traded all day.
Like we just, we did about a million in business yesterday because of the the show alone.
So what's your strategy with these trade shows?
The strategy is actually, I gotten away from the B2B stuff, to be honest with you.
We used to be huge into B2B.
And that was up until right before COVID where I said, look, I looked up my books and I said, I got 30 million in receivables.
I got, I wrote out about $2 million of bad debt expense because it comes with the territory of B2B.
Yes, I'm a $100 million plus company, but is it a product that's sellable?
It's not.
So I said, we're switching back to B2C heavily because we're about 85 B2B and 50% B2C.
So right before COVID, I said, all right, I made a plan for two years.
I would gradually switch over.
Because when people owe you 30 million bucks, you can't just abruptly cut them off.
You kind of like got to collect what you're owed, you know, kind of thing.
So COVID happened.
And literally in an instant, we were able to switch.
It helped a lot because of the craze.
Right.
And so now we're B2C.
Did the revenue go down over the highest years of COVID?
Of course it did.
When an average Pepsi GMT is trading at $28,000 a day.
He said 18, your revenue will suffer.
Our numbers went up in terms of units.
Margins stayed the same, but the revenue did go down.
We went from like 136 to like 111
in revenue, which was expected.
But now, you know, we have a product that's sellable, that's evaluatable, that has a value.
And the plan is just to, you know, so to your original question, trade shows is a good way to buy for us.
It's also a good way to get rid of aging inventory.
And listen, you can also, you also make money.
Yeah.
It's not, you know, we also have a jewelry aspect of our business, which is still B2B only.
That's where really we're going to make most of our money while we're in Vegas.
So your goal is to sell this thing one day, though?
You want to exit?
Yeah.
Yeah.
And I have a pretty good plan.
In fact, I almost did it during COVID,
but I felt that we weren't quite there.
We did get an evaluation of
Again, some of the guys I work with, some big, big names in the industry, you know, they want to commit us.
Oh, we're going to get you 250.
Realistically, at the time, I think we would have gotten maybe 110, around 100, right?
And I felt that there's still a few more products that are missing within the industry that we can launch and we're working on launching, especially with AI now being a thing where the evaluation can be a lot higher.
Wow.
Nine-figure business.
Well done, man.
How many years?
So I started this out of my basement.
My business is almost as old as my son.
My wife was.
Holy crap.
My son's going to be 22.
So my business is a little bit over 22 years old.
Wow.
You teaching him the ropes right now?
Is he he part of the company?
No.
So my son has got a bit of an entrepreneurial bug himself.
He was 14.
And the rule of my house is everybody gets a job when they turn 15.
I have three kids.
I feel that
everybody should do that.
It teaches kids responsibility.
It teaches them the value of a dollar.
It doesn't matter how much money dad or mom have.
Now, my kids do go to the best school.
They go to private schools.
They have a good roof over their head and they get whatever that they need as far as necessities are concerned.
But at the same token, we don't spoil them them and we make them get a job so my son is like ah dad i'm about to be 15 i don't know about a job i want to i want a business i said what do you want to do and he was huge into sneaker and streetwear culture yeah like i want to buy and sell sneakers
i got two thousand bucks i'm going to use them i'm going to buy some supreme stuff at the time it was shit i mean it's still cool i guess yeah and he's like i want to buy and sell sneakers all right son if you want to do this as a real business we're going to set it up you're going to I'm going to show you you're going to give me a profit and loss statement a balance sheet an inventory statement he's like huh he's like 14 I'm like, so I explained it to him, put it all in Excel.
And he's like, yeah, well, why do I need all that?
I said, you'll thank me in a year.
So first year, 2000, at the end of the year, his balance sheet showed 24,000.
Wow.
The following year, it went from 24,000 to 127.
His year in high school, he did a million in business.
And when he went to apply for colleges, he submitted his tax returns rather than an essay.
Yo, I love that.
The kid got into Northeastern business school, Babson.
Indiana was a backup, University of Miami.
He applied to six schools.
He got into all of them.
Ultimately chose university of miami i don't blame him i did a tour with him and i'm just like party school and my wife was like stop looking around i said all these girls illegal at least i can look at them right you know so it's uh and he was there now he's in miami he just opened up his third store they're doing about six million in revenue damn uh this year last year was just under six I'm sorry, last year was just under five, like four or nine.
This year, I think they're on track to do about six and change.
He's in the right place.
All the influences, who's anybody, who's anybody, are in his stores.
Aiden Ross, every other day, he flips a coin with him for like five grand on purchases.
And some of the stuff he sells, I'm just like, he just sold a pair of Chrome hard jeans for $18,000.
I'm like, but what?
But then again, he goes to me.
He's like, dad, you sell million-dollar watches.
I was just, I said, I get it, but that's jeans.
You wear them out.
I wouldn't even know if jeans were expensive if I saw someone wearing them out.
So he's sort of on that.
And then now he's on track to do the same.
I told him, I said, look, you build a brand.
Shout out.
I hope you guys are enjoying the show.
Please don't forget to like and subscribe.
It helps the show a lot with the algorithm.
Thank you.
You build a brand, you build a product that's sellable, you exit, you move on.
And that's really the plan for him.
That's cool.
And he understands that he's smart enough to get it too.
A lot of similarities with your business.
I'm sure you picked up on some stuff.
Very much over there.
Very much a lot of similarities.
I actually made him come to my job when he was like six.
Bring your child to work there.
Yeah, no, but I would bring him to work
as many times as I could.
I'd give him an old auction auction catalog when he was six.
And I said, okay, here's the result list.
Go into the catalog and write out the numbers.
When you're six years old, you're writing out numbers like 135,000 and change.
He's like, huh, dad?
I don't get it.
I'm like, don't worry.
Just write.
That's the way to teach these days.
Exactly.
That's the only way to do it.
Love that.
So this watch market, I know it's taken a lot of dips over the years.
Where's it at right now?
I haven't been to the table.
So it took one dip, right?
So you had your COVID craze where everything went.
ridiculous, but it wasn't just watches.
Like I said, a G-Wagon was $300,000, right?
And along with anything else, clothing,
certain purses, certain brands, everything just went, luxury went crazy.
And then two years ago, it took a dip, as it should have.
What goes up has got to come down.
It's not sustainable, if you will, right?
And why did it happen?
You got all this influx of money.
A
government helped, right?
People that got $1,200, where did that ultimately end up?
It all rises to the top, right?
Yeah.
I've seen people in line at Louis Vuitton.
They had no business being at Louis Vuitton, right?
And that's just, that's the nature of a human being.
People buy expensive things.
This is what they want.
So when all that money came into the market, then of course the rise of online shopping because of lockdowns.
And this is a global thing.
At the time, you also had the Asian market, which was huge, right?
The market was doing well, not so much right now.
But you had all of this demand on the market, and rightfully so, prices started going up.
The secondary market jumped in really, really quickly because the primary market could not provide enough goods, and hence we had the rise.
And then after a while, when it was too polluted and prices just got ridiculous, it was, I want to say,
three months, four months before it went down, Adrian, who is head of procurement at my company and also the sales manager, he's been with me since he was 17 years old, he comes to my office room, when we're done, we're selling off all the hot stuff.
Now, just to put it in perspective, a Rolex Daytona, the most popular, stainless steel Rolex Daytona, most popular watch in the world, the most recognizable, right?
That's a watch that retails for $16,000.
At the peak, that watch was selling on a secondary for $55,000 B2B.
So the retail clients were paying $60,000.
Today, that was trades around half that.
It's still almost double retail, but it's trading at half that.
And that was the story.
The more popular something was, the bigger hit it took.
But still, it came down to where it's at least one and a half X pre-COVID prices, right?
So when that happens, this is when we know that, okay, it doesn't make sense.
A G-Wagon that retails for $150,000 does not make sense at $500,000.
You can equate the same to watches.
So agents said, we're selling off everything that's hot.
We can sell it at a loss.
We can sell it at a cost.
It doesn't matter.
Let's upload about 25% of our inventory, which was the hot stuff, as you said.
And it's coming.
Wow.
And that was May.
At about
July, August, the B2B market started to catch on because people were afraid to trade stuff back and forth because it was just trading amongst each other.
Everybody's making money, but the watch is not on the wrist.
It's a problem.
And by about September, the retail public understood that things are coming down right now and trying to cash out as fast as possible.
What happens?
The market comes down.
It stabilized about, I would say,
a year ago at this point, maybe nine months to a year ago.
Now the prices have stabilized.
This is where you are, where now the demand meets the current price.
This is where we are now.
We're in a stable market, which is the market I prefer.
Granted, I make more money, or smart people make more money on the down market, right?
And we did take advantage of that because now you're able to buy things, anticipating a further decrease.
So you're buying a lot cheaper, but yet still selling at the current market price.
But for the most part, now we're back and stable and it's not easy but the watch industry has never been easy and a lot of the competition some ended up in a federal penitentiary some ended up uh just out of business right because it's very easy to get behind in my business right you know because uh my business is based on trust and word me and you go to 47th street or any of the big go walk the trade show with me today i'll put 10 million in my bag i won't sign a single piece of paper just on a handshake that's our business old school yeah it's very old school and when i say old school you saw some of the invoices these people hand hand you out.
Like, you go to Staples and you buy like a generic invoice book.
That's what some of the shit these dealers have.
And they've been in business for 30 years.
Very, very old school, right?
Very handshake-based.
So you had a lot of people that got hurt, a lot of people that exited, a lot of people, because a lot of people also jumped in.
Oh, this looks easy.
My AD can give me a couple of rollers because I can flip them and make five grand.
All of a sudden, they become a watch dealer and they lease a Lambo.
And next thing you know, they get behind because they can't sustain a lifestyle.
But we've seen this before.
08 was a perfect example for us.
And so this was, we came in, we came in cash heavy because we knew there was going to be buying opportunities.
So cash was king.
It does, cash does tend to deplete because post a hot market like this, what you end up with is a lot of trading.
So now cash flow becomes a problem.
Yeah.
On paper, you're making good money, but then the cash is not flowing as it used to.
You said earlier you had 30 mil out, so people owed you.
That was when I was doing B2B.
28.8 million was the biggest I've ever had in receivables.
Jeez.
But you leverage that against payables, right?
Because you have your own payables because you get credits in certain places as as well.
But if you want to do big business, that's usually what you're looking at.
You become more of a bank rather than a watch dealer.
So if you're a small dealer and, you know, you can come to Rome and buy $250, a million dollars and get 30, 60, 90, let's say, with 30 days credit.
Now you're able to work with my money.
I usually will usually end up paying me a little bit more, but mathematically, if you did the math.
you know, money on money, it makes sense for both parties.
Yeah.
I still have a buddy of mine who's in that business.
He does about $250 a year, and he's straight up a bank.
Holy crap.
And it's like you look at his pricing, you know, it's like, yeah, I can get out there and buy it five to ten percent cheaper, but then this guy, I can pay him in thirty days, so that five percent all of a sudden starts to make sense.
It allows you to grow.
That's how my business grew.
I was I was in banking.
Oh, you were in banking before this?
I was I was and I was on banking on IT side.
I was an electrical engineer, computer science guy.
And uh guy I used to buy watches from in the gray market from his house.
Came's like, oh, you know, all this computer stuff.
Like it's a little bit more complex than that, but okay, I managed at the time, I managed their global payment system, which costs 42 billion a month.
Jeez,
20 million in hardware across three data centers across the world, like the whole thing.
I'm like, yeah, I guess you can sell the computers, right?
So it's like, oh, this eBay thing is coming.
I think we can sell watches online.
I'm like, who the fuck's going to buy $10,000 watches online?
It was my wife that said, seems like a good idea.
So I started it part-time for three years.
And that's how LB was born.
Wow.
So
when it comes to selling online versus in person, how has the percentage changed over the years from when you first started to today's economy?
When I first started, 90% of the time I spent convincing people that I'm not going to send them a brick in a box because mind you, this was the birth of e-commerce.
People were afraid.
We didn't have the mechanics in place to prevent from fraud.
I could have easily sent somebody a brick in a box and they would have to come look for me and good luck kind of thing, right?
So that was...
That was the most of building your name, your reputation online.
Of course, it was a lot easier because it was me and maybe 10 other guys that started doing this at the same time 20 years ago.
Now you have thousands and thousands of websites.
So now we fight it with what?
We fight it with our media presence.
You know, I have a media team just as big as yours and we've gone the route of brand name recognition.
That was a decision made when we decided to go from B2B back to B2C.
That's when YouTube came in.
This is when Instagram came in and content, three C's, creative content consistently.
That's affiliate.
That's what gets you there today.
And now that people know your face and know who you are and they become fans, you know,
I think I was still working out of my house part time i met a client he spent like 20 grand with me and he was one of those marketing gurus of course back then it was convention centers you fill a room with 5 000 people and then you sell yeah cd disc sets like of six like that was the thing back i still have that somewhere as a memory and he said roman educate your consumer first and foremost to where they would feel stupid to buy anywhere else besides you regardless of price within reason right i've gone by that and that's i swear by that that's why my entire sales team myself included would educate our consumer, except it's a lot easier now.
Before it used to be a one-on-one phone call, today it's a YouTube video, right?
And some of your videos get a ton of views, so I'm sure they lead to a lot of business.
Right now, something's up with everybody.
Instagram, YouTube, like the views are down across.
Like, my team is back home trying to figure it out.
Instagram, I'm down 30% this month.
Same.
YouTube, I'm down even more.
Yeah, YouTube has been down big.
So now,
you know, my CMO and him, we're talking to a ton of different people to
try to
basically reboot the algorithm, if you will.
Yeah.
You know, we took a break from our reality type of videos, the Gray Market show.
We took a break of like two months.
Now we just launched the first episode.
So long as we get that one, we know that seven days later, we'll post the next one and the next one, and hopefully that will reboot the algorithm.
But you also have to consider
when we started Gray Market, we were the first to show real behind the scenes of what's going on in the watch business, right?
And now you have hundreds of guys that are doing the same, like anything else.
How many people copied you?
A lot, yeah.
You know what I mean?
But what that is is it still takes away little by little.
Over time, yeah.
Over time, it will take away little by little.
So we're trying to do something to reboot that.
We're also coming up with some new show concepts and things like that.
You were the first, I remember, to show the dark side of business.
Like you show deals where you get scammed and stuff.
Of course, of course.
It happens every day.
We have a big target on our forehead because the stuff that we sell is liquid.
Some of the scams, oh my gosh.
Someone called back the wire I saw.
Dude, the amount of scams we've been hit with, and we've lost money over the years.
You know, we've been hit, you know, but
of doing business.
You know, it's like you put yourself out there, you sell the type of product that you sell.
Yeah.
It is what it is.
What's the most clever scam that you fell for?
Kai calls us up, bargains with us, says, hey, I'm such and such.
I'm going to buy these two watches.
We go back and forth and we end up on a price of, I would say, $82,000 on a watch.
At the time, the market price on a watch was $85,000.
We were selling it for $88,000 online.
So $82,000 was a reasonable offer.
We made money.
And he goes to me, he's like, listen, he's like, for safety, can you send it to my job sure where do you work i work at bank of california
and he goes and my address is bank of california tower suite such and such i'm a vp of whatever and he's like and what i'll do is i'll overnight you i i don't do wires i'm going to overnight you a certified check
we get a check overnight in the mail from bank of california with the same address that we're actually shipping the watch to yeah right
I go to my bank, I said, hey, is this check good?
They're like, yeah, yeah, check's good.
It's a real check.
Put it in.
We send the watch to Bank of California Tower, Suite, whatever, whatever.
And what, two or three weeks later, my banker calls me like, Roman, I don't know what to tell you.
That check came back.
What do you mean?
Said it was a real check.
He's like, it is a real check, but there's no money in that account.
So what the hell?
Guy.
So then I started digging.
So the Bank of California Tower is owned by Bank of California, but they only occupy like the first three or four floors.
They lease out the rest.
This guy rents an office in that tower, made a deal with somebody downstairs to get the blank real checks from there, like pay the guy or something.
yeah
2.4 million dollars in three days he stole no they caught the guy i have a judgment against him wow you know if he ever shows up somewhere and buys a house maybe i'll get my money back but holy crap the best though is my the three-way scams where um
somebody scams somebody and then sends the money to us so a guy puts up a car in ebay
it was a or this happened it was a bmw M3, I think,
I forget which one it was.
It was like around 50,000, which is just slightly lower than market price, but a good deal.
And Vin numbers nowadays, you can find them anywhere online, right?
So
this doctor buys this car from the guy and he tells him, Okay,
where are you?
The guy's like, I'm in Ohio.
He's like, well, I'm in California.
He's like, send me the money.
I'll have the car delivered.
I'm taking care of the shipping.
The guy's like, well, how do I trust you?
This was through eBay.
How do I trust you?
The guy was like, well, if you want, we can do an escrow service.
Guy puts up some cockamini escrow website.
Meanwhile, he calls me and bargains on two watches with us for $54,000.
So the guy says, okay, I'm good.
He sends 54,000, but the wire directions he gets are mine, not the guy's.
I get the wire for 54 grand.
I take the two watches.
I ship it to the guy.
The guy disappears.
This guy starts looking for his money.
I start looking for my watches.
Of course, we see the ship coming a mile away.
We look at shipping addresses.
We put the two together.
Something didn't add up.
The guy bought 54 grand worth of watches, and I didn't grow up in a very good area in New York.
When I look at the address, I'm like, yo, these are the projects in the Bronx.
There's no fucking way this guy is buying $54,000 watches.
So we stop the ship, man.
The guy disappears.
Two weeks later, this doctor calls us.
He's like, oh, you know, I just realized I'm sending you guys money for BMW.
It's like, we're a watch business.
Tells me the stories.
I already knew.
I just messed up with him a little bit.
So I'm like, Doc, I'm like, what kind of doctor are you?
Some kind of ologist.
Like, so you went to, what, 46,000 years of school?
It didn't dawn on you that this is fucking broad.
You know, the messed up part about it is if I would have sent the watches out, I would still have to return the money to him.
No way.
By law.
yeah i would have to i would be out that 54 grand out of cali law in new york it's not no it's just a general law because he he sent the money to the wrong place even though the guy was frauded i didn't sell him a bmw m4 wow and just because i sent the watches out to a fraudster that's on me So I wasn't out any money, but that was a clever scam.
These three-way scams, sometimes four-way scams, they get pretty clever.
That is clever.
Seller scam, too.
My boy, the very watch you're wearing, he wired 140K at the time, never got it.
That's why I always tell people the same thing, buy the the dealer, not to watch.
Yeah, and social media being transparent really, really helps because people know who you are.
And
worst-case sanitizer is guys, just come to my office, pick it up.
Yeah, it's crazy, though, because he, even if you win a judgment, you still got to collect.
So, that's been pending for five years.
I have, you know, many judgments I have against people, dude.
If I collect, if I got like half of my judgments, I'd be very, very trust me when I've had dealers that have gone under.
I think the biggest was 2.8 million.
Damn, he owed you 2.8.
Jeez.
I got
just under two out of it, but that was it.
Wow.
He just went too crazy, started.
Because this guy was flipping to another guy.
And if you Google it, there's a news article about a big Russian dealer that was taking $250 million worth of shit.
He was selling to that guy.
And when that guy went under,
he owed him over three.
So he was leveraging my credit, giving the other guy credit.
He was always paying.
He was always good.
The guy wasn't bad.
It's normal in our industry for that to happen.
That's That's why I got away from B2B to begin with, because it's pretty dangerous.
Like it's, you know, a deal can, I've seen guys go under because of a big, one single big deal.
That's why when I was a smaller business and I'd never bid off more than I can chew because I knew potentially that could put me under because I'm not the guy that's going to fuck somebody.
I'm going to work three jobs to pay somebody back.
I don't owe anybody a penny, never have.
Right.
So
you have to be smart about it.
Yeah.
What's the closest you've gone to going under?
Was there a specific moment you remember?
Yeah, it was actually based on a positive thing.
I made a deal with a major manufacturer.
I won't mention any names.
It was a $33 million deal over three years on a major brand to receive packages every month.
That deal lasted five years,
and there being about a $65 million deal over five years.
And it was a pure example of biting off more than I can chew.
Not in the sense that I couldn't afford to pay for it, but this was in a situation where a product would come in.
I would have to sell off most of it fairly quickly in order to pay the the next bill next month.
And that's how my B2B grew.
That's how I had 30 million in receivables, right?
I would extend credit, but at the same time, I didn't have the same credit on the other side.
So it would continually took away from other revenue streams that we had.
And all it did is it constricted our cash flow.
And lucky for us, and this is before any craze or hypes, lucky for us, we were able to build a big network in B2B, like worldwide, Middle East, Asia, everywhere, where we had the the buyers to continuously take this stuff.
If at some point, you know, like halfway through, those buyers cooled off and I would have no way to get rid of that stuff, it could potentially put us under.
So just a good example of biting off a little more than you can chew.
Now, would my business go under?
No, it would suffer tremendously.
But still, it was post-addales when I made the decision to say, you know, I got through this deal on paper.
I made a fuck ton of money.
Trust me when I tell you.
I grew my business through the stratosphere.
But
I realized that it's also very dangerous.
And at some point you have to
you have to do some risk assessment high risk high reward they say right it is it was high risk high reward but but again high risk right
when you have a business going it's like if it's me out of my basement it's one thing but at this point it's not just me it's not me my wife and three kids it's now a company of 30 people that are also my kids i call them jokingly right you know and i'm very sensitive my company is like my family.
So, you know, I know there's a group of people that depend on this company being successful.
It's just me.
Right.
You mentioned earlier the Asia market cooled.
What happened over there?
Well, you had the whole, they kind of had like, I guess, the housing crisis we had here, but on a commercial level.
So
COVID hits
or pre-COVID, right?
You have manufacturing was booming.
So what ended up happening is they started building these towns that are now known as ghost towns, huge towers.
The apartments in there are the size of this chair, right?
But these were for all the factory workers that would, they needed a place to live when the manufacturing started booming.
And when the manufacturers are booming, employees are booming.
Now you need a place for them to stay.
So they started building these huge towers, these 60-tory towers, which again, the apartments are maybe
200 to 300 square foot apartments, right?
And all of a sudden, you got big money that came in because they knew the demand was there.
So they started.
So they build one development, let's say six, seven towers that are 60 stories each, right?
And they leverage that and then build the background and the next one and the next one.
Well, COVID hits.
And then they anticipated that post-COVID, you're going to have all these people return back to work.
Well, half the people were scared shitless because the government scared them into like COVID in China.
The COVID scare was real.
People were scared, like legitimately scared, right?
And then the other half that kind of went back to an old school way of living up in the mountains, living off the land kind of thing, and things of that nature.
They said, fuck it, I don't want to slave away 12 hours a day on these factors.
I don't want to come back.
Now, all of a sudden, that demand goes.
All the shits leverage them.
Boom.
And that's what they had.
And then, mind you prior to that you got to figure china was what they were responsible so 60 billion dollar luxury industry out of which 22
uh was made made up of watches and jewelry and the chinese market alone was responsible 60 of that yeah think about what that does globally right in terms of demand yeah you know china was big we have an office in hong kong for that very reason because we cater to mainland chinese clients and especially b2b you know when that gets shut off, it takes a hit.
Hong Kong has always been a big pulse of our market kind of thing.
And now you got the new rules in Hong Kong in terms of money exchange.
Before you can go to Hong Kong with a million dollars in bag, and it was perfectly legal and fine.
You go, you pay cash, you take your shit, and you leave.
Now you have to report a lot of things.
Now you have, so everybody went to crypto, which is also not exactly kosher if it comes to American companies, right?
Yeah.
So there's a lot of things that sort of led up to that where mainlane China is sort of choking on Hong Kong's way of doing things because they left them alone post-Brexit, right?
So a lot of things are changing in a landscape, but
it's again,
it's all cyclical.
It all goes up and down.
So now you have India, which is a huge upcoming market.
Of course, what's stopping them is their stupid tariffs and duties because it's impossible to sell in today.
People smuggle stuff in there, right?
They've been talking about changing that for the last 10 years.
We'll see what happens.
What's the tariff percentage there?
Oh, dude,
if you live in India and I send you something, you're paying 50%.
50%.
It's like stupid.
Holy shit.
And now you got Trump doing tariffs on our end, which in the long run, I agree with, but in the short term, it affects a lot of industry, including ours.
So to import watches into the United States of America, you're paying anywhere from 3% to 3.5%, depending on the watch.
Now there's the temporary additional 10%.
Damn.
So now it's 13.5%.
So now what happens?
Now, in a market on a secondary, especially when your average margins are 10% to 20%, you can imagine what that 10% does.
It essentially wipes out
but now you have all this product floating around so until that catches up we're now slowly but surely starting to say to clients like look majority of the stock is still in asia but bringing it in is now 10 more expensive so now we have to adjust you know it's like hey here's the new price it is what it is now if the tariffs go away i want them to stabilize because it opens up to us to me it would be free trade because today i can't i sent some to the uk 24 wow any other european country 20 to 27 percent right but if you even out the playing field, what's 10% and 10%, now the World Wide Web actually becomes the World Wide Web.
But now we're not the World Wide Web.
Yeah, because if you want to grow your revenues, you're probably going to have to go more international, right?
So these are the things that we do.
We do international.
It's very small because, again, they have to pay crazy duties.
So if I have certain deals that fit within the criteria, they do.
London is, I think I look at my traffic stats, like London is probably the number two city people watch our shit from.
Really?
But they only buy a tiny percentage.
So if they do even out the, I don't care if it's 10 this way, 10 10 this way, 20 this way, 20 this way.
Eventually stabilized, but it takes time.
So, you have to be able to weather that storm because then inadvertently sales will be down because of that.
You still have people in the United States that have a ton of product that are still selling at old prices, but eventually it's going to run out.
And if they go outside the United States, we have a beautiful hedge on that because we buy from the public.
So, for us, it's easier.
Yeah.
You got any big whale clients in like Dubai or Saudi or we have so our clientele will go from you know
guy we're visiting tonight, uh,
old money, multi-billionaires, real estate tycoon.
We have celebrities, and I don't clout chase, so I'm never going to name my celebrities.
I try to take pictures.
We have some of the biggest celebrities that buy from us, right?
And so, unless they want to be on camera or give me a shout out,
you don't care for it?
It's not that I don't care for it.
I feel that the reason we were able to land a lot of clients like this, because I will treat a kid that comes to buy a $3,000 Omega the same way as a mega star is going to buy a $3 million Richard Meal, right?
Because I feel that people are all humans and you have to treat them with respect regardless of their status.
Now, are there people that I would fan over?
Like, if I saw them, like, yeah, I'm a big four Miller One fan.
So if like Lewis Hamilton came to my door, I'd geek the fuck out because, but that's personal, right?
But for the most part, the clientele varies.
You know, you have young kids that made millions doing something or other in technology to season money or old money.
I got Leclerc coming on
during Vegas F1.
If you're in town, I can introduce you guys.
That's amazing.
I have a buddy of mine, maybe a gnome.
He's a guy out of Singapore.
His name is Jeff.
He's a big collector of Formula One cards.
He has some of the most important Formula.
He goes by Jeff Crypto
on Jeff.
He went to dinner with Charles when he was in Singapore.
Oh, yeah.
And we want to talk about the biggest fan of Charles Leclerc.
He's like God to him.
He's like, he's a big Ferrari guy, obviously, right?
But yeah, Jeff is like, he's nuts with some of the cards.
i collect formula one cars oh you do pretty decent collection how expensive are those so it depends they get up uh so he i know that jeff just bought the louis hamilton super fractor uh auto from the rookie year 2020 for a million bucks what yeah holy crap where do you even store all those if you start collecting those dude singapore is one of the most safest places in the world you can leave your your car window open with your wallet and cash hanging out nobody will ever take it no way singapore is i've heard that about dubai too dubai is extremely safe too.
Um, you do that where you're at.
Singapore is
Singapore, is one of the safest places in the world.
Yeah, you're in Philly, right?
Yeah, you do that in Philly, you're getting robbed within.
Uh, yeah, well, Gowala is definitely well, depending on where you are in Philly.
Obviously, we're living within the suburbs, yeah, nice and safe.
Plus, we're also allowed to carry a lot of guns in Philly.
Oh, you can't just like, oh, yeah, I didn't know that.
Oh, yeah,
because I grew up in Jersey and you couldn't really carry that, yeah.
Jersey, Jersey.
Well, now they're changing it now.
They changed the law, they forced them to change the law.
And
I don't blame you you when you're moving around expensive stuff.
You definitely need.
You know, when people ask me, like, how do you, you know, you have this office?
My office is like Fort Knox, but I tell people, look, I don't envy the person that walks into my office.
Holy crap.
So I'm ex-military.
I'm also a sharpshooter.
Wow.
You know, if you piss me off at a thousand yards, I can probably still get you.
Damn.
But
I'm also not the person that I'm into gun culture.
I'm into guns.
I go shooting a lot.
But I'm the person that will do everything and everything in my power to avoid ever pointing a gun at anyone because I know what it does.
And I'm not the guy to say, you know, start doing it.
I'm not a cowboy when it comes to that.
My kids know about gun culture.
They all know how to shoot.
They all understand one thing, that the only ever time when you pull out a gun is when you absolutely have zero choice.
Our number one job is to get away from
not to put yourself in a situation where you have to pull your gun.
Yeah.
And that's what I live by.
And thank God I haven't shot anybody yet.
Has someone ever targeted you?
No.
Make it very known and visible that
in my office, outside of my office, I'm well protected, that I do carry a gun.
I know how to use it.
I'm not afraid to use it.
And, you know, if I put that message out there subliminally, I don't, I'm not the guy to be,
look at all my guns, you know.
Because people in your space are targeted usually.
Of course we are.
But you follow certain procedures.
You know, you're fighting certain things.
You make sure you're insured, obviously, which we are.
And at the same token, you don't put yourself in situations to where there's a possibility that you know somebody may want to rob you you know
you don't want to you know if you don't want to get jacked or robbed you know and you know the certain neighborhoods are bad don't go there yeah very simple i don't post where i'm at live anymore so i don't either so if you if you look at it like i'm gonna take a video here when we're done yeah and i'm gonna post it as if i just got here right i love it that's that's what i do that's smart why
you know people want to flex where they're at like at a fancy dinner and i'm like why would you do that i'll take pictures i'll I'll take videos.
Also, I don't post a lot of food, but like, I'll take a picture in the video.
But if you go there, I won't be there.
Yeah.
It's just, it's just a smart way of doing it because when you get, when you put yourself out there on social and people know your every move, that doesn't mean they have to know where you are physically.
Yep.
How good are the fakes these days?
Fake watches.
Very good.
Can you tell?
Yeah.
We can tell a fake from a room away, especially my buyers, right?
Just because we handle this stuff so much.
And people are like, well, how?
I'm like, well, experience, right?
Had a particular watch in your hands a thousand times over.
You're going to know.
It's also very situational, right?
Because it's like, oh, dude, I got this watch.
Somebody gave it to me as a gift.
It's got no box, no papers, red flag, right?
Oh, you're talking to someone.
You can tell when somebody's a watch guy, right?
If somebody's into cars and they start talking to me, they'll know right away I'm not a car guy.
I ask you something about Formula One cars.
I'll tell you everything you need to know.
But in like Porsche's and Ferraris and all that stuff, I'm not into that stuff.
I don't care for it.
Therefore, when a conversation takes place with a Porsche guy, he'll know I'm not a Porsche guy.
Same thing with that.
But for the most part, I don't take any chances.
So we have a service center that we own.
And
every single watch that comes to the office goes through my service center.
And the head watchmaker there will open up every single watch.
He'll look inside every single watch.
Even if it's a brand spanking new Rolex and it's all looks like, oh, it's all legit, he will still check it.
Because the super clones today are fucking scary.
That's what they're called?
Super clones?
Yeah, they're scary, dude.
It can get, it gets really scary.
Like, I've had a few, again,
I'm at a trade show, another dealer comes up to me, sells me a watch, because it's very common to have a watch with no box, no papers.
Doesn't mean it's a bad one.
You still buy those?
Yeah, of course.
There's nothing, as long as I have recourse.
If you're a dealer and you sell me a watch and there's an invoice, yeah, I have recourse.
And you can go get archive papers now, and there's plenty of ways to legitimize a watch.
Rollux, you get a service card.
So for me,
guy comes up, he's like, hey, check out this AP.
I know you like this.
Gives me a slightly undermarket price.
I'm like, reasonable.
I bargain with it for a couple of thousand bucks.
Then he takes it back.
He's like, it's fake.
Situational.
I'm at a trade show.
A dealer I've known for 10 years comes up and sells me this watch.
And I'm like, okay, in that case scenario, I'm not expecting a fake.
He's just messing with me.
Your guard is down.
But I looked at it close enough to where, with a naked eye, handling the watch, it wasn't until I really looped it closely and I looked on the inside because it was an exhibition back.
That's when I'm at his side.
I'm like, wait a minute, I see it now.
And the guy goes, how good is this?
I'm like, it's really good.
It's scary.
Damn.
Even the weight?
Weight case.
There isn't a thing or a watch part that a CNC machine can't make today.
You can take a block of steel and you can make any Rolex that you want.
Damn.
Right.
So it's like, it's a question of how much money do you invest into it and what's the purpose.
Now,
the stuff you see on Canal Street, people buy and sell those for the purpose of selling fake watches by telling you that you're buying a fake watch.
So when you're paying 300 bucks for a Rolex, you know you're not getting a real Rolex, right?
But there are some out there that will make specific watches and their ultimate goal is to sell it as new.
That's the ones you have to be scared of.
Right.
Because their goal is to actually fraud you.
I don't, at least I'm really against it, against counterfeits in general.
I'm against people wearing counterfeits because I think it defeats the purpose.
It's like being rich in monopoly with who you're trying to impress, right?
And you're lying to yourself.
But at the same token,
there's guys out there that will maliciously
will reproduce certain things for the sole reason of selling you a fake watch and making a a profit because it has to make sense financially.
The better you make the watch, the more it's going to cost you to produce it.
There's still a cost behind producing things, the box, the papers, whatever it may be.
And at some point, if you're selling it as a fake, you're not selling a fake for three grand.
You guys say, I might as well buy a real one, right?
Some of them cost that much these days.
Some of the super clones like Richard Meals and things of that nature.
Plus technologies,
today they're easily fake.
Chat GPT will tell you how to make a watch today.
It's like that hard, you know.
What about people that wear a fake watch, but the real ones at home in the safe?
Have Have you heard of that?
I think it's stupid too.
If you feel that you're ever in a position where you feel unsafe, that defeats the purpose because the idea is like, oh, well, I don't want to, if I get jacked, they'll steal a fake.
I'm like, well, isn't the whole purpose for you to not get jacked?
Like, then how's a fake going to prevent that?
Because you can get physically hurt, too, while you're getting jacked.
Right.
So, no, I'm not, I'm not a fan of that either.
Yeah, I guess.
Yeah, people walk Melrose and getting robbed these days, so I could see where they're coming from.
Yeah, but it's like, it's like you want to flex, but you want to be safe.
You know what I mean?
Like, if the idea is i just don't wear it at all yeah for me for me
safety takes priority over flexing yeah i don't care what it is now
i just i don't get it certain cities i i don't bring out my watch you know what i mean europe london is yeah london was just in london almost got robbed damn and we were so we're mind you i'm there with a friend of mine paul thorpe another youtuber in the watch space you know we're kind of really political now so no more watches but more a lot more views on youtube and so you took me to hatton Gardens, which is there 47th Street.
So it's me, him, another buddy of ours, Spencer, my videographer, social media, looks six of us walking around.
And we're standing in front of, we went inside a store with a friend I knew, started talking.
We come outside to look at his outside thing.
And I'm like, starting to make a deal with him on a watch.
All of a sudden, Paul leans over.
He's like, I have that on video.
It's on one of the episodes.
Leans over.
He's like, Roma, we got to go now.
Huh?
What?
Some dude came.
like circled us a little bit, like scouted us out, went across the street.
I didn't see this.
Paul did.
Went across the street, pulled out his phone started texting people and paul's like we've been spotted or marked we need to go we need to go down so we made an exit i'm like this is london yeah and then i met with i'm there uh a couple of young guys in the industry they have an office in barclay square i don't know if you're familiar that's it's that's smack in the middle of mayford that's where the ferrari dealership the method it's like fifth avenue And they sent me a DM.
I was like, Roman, I see that you're in London.
We're such and such.
Is there any way, shape, or form we can get 20 minutes of your time?
I look the kids up.
I see two young kids trying to do something.
I'm like, sure, come to.
I was staying at the Graubner house.
So we met downstairs at the tea lounge.
We're drinking tea, talking, and they're like, Roman, give us advice.
Like, what do we do?
Here we are.
You know, we have a decent amount of money we've invested into this business, but like, we can't walk around the street wearing a watch.
We can't leave our office with a watch.
We can't really do a whole lot of social media because people will find us.
He's like, we're also brown-skinned, so people are afraid to talk to us.
And I'm like, I sat there, I listened to everything, how they did business.
How do you do business?
He's like, well, see people out in the bow we see they're wearing a nice watch we'll hand them a business card this is who we are you know our office here and here if you ever need anything and he's like most of the time people be scared when i tell him nice watch again he's like i'm he's like not because we're brown skinned and i'm like okay
And I'm usually, I'm a pretty smart guy when it comes to business planning and things like that.
And finally, I told him, I said, I have one advice for you.
And he's like, what?
Get the fuck out of London.
I mean, because I really didn't know what to tell these kids.
Like, they really have no way to scale their business because of safety concerns.
So I asked him, like, can you have a security guard?
No.
Can you have a gun?
No.
Can you have a, he's like, I can't even have a baseball bat.
I'm like, well, that's kind of fucked.
You know, another buddy of mine, he moved out of London.
He went all the way out to
Grackliffe, I think it's called.
It's about 40 minutes outside of London, a suburban neighborhood.
Still build a fortress there, but it's safer over there.
I don't get it.
What a shame it is.
London's like that now.
Yeah, London's
scary for a minute.
That is scary.
Parts of LA are like that, man.
LA?
i don't go to la yeah melrose you walk melros i can't i can't i can't stand la for their geopolitical stance for the way things are over there and last time it was my 20th wedding anniversary i made a big surprise for my wife out in uh
see you have what is it the laguna beach i think it's is it dania beach or that was starts with a d the little town next door i'd have a waldorf there with a golf course not dania's in florida this is dana beach i think it's dana point heard of laguna beach and there's a town next to it.
It's a beautiful, scenic place with cliffs and beautiful sunsets.
And we spent a day and a half in LA prior to that.
So we stayed at the Beverly World Share, you know, pretty woman.
And so I said, all right, let's go do a little bit of shopping.
I go to Rodeo Drive and I see guys in full tactical gear with fucking machine guns.
I'm like, the fuck am I being rooted?
What is going on?
Like, why are these guys here with machine guns?
You know, but in London, it's worse.
You walk into Louis Vuitton.
When you walk out, they give you a plane bag so you don't attract attention.
Wow.
zero branding and bond street a buddy of mine has been on there that street for 30 years that's their fifth avenue
i walk up i was that one it surprising
walk up to the store it's kind of dark in there there's not just no showcases in the windows usually the showcase with jewelry and watches this guy has a lot of cool stuff so i call him like ronnie i'm like this guy's closed wednesday afternoon he's like no we're here i'm like doesn't fucking look like it he's like oh you here bro i'm like yeah he comes outside unlocks the doors we'll go through the two doors he locks the doors behind the lights are dim they're sitting inside only working on web orders only by appointment only i'm like this is bond street he's like yeah guy got stabbed just last night right right around the corner from my office geez scary times is new york safe new york is safe new york is safe a lot look america is a lot safer and the reason america is safer because we have the right to bear arms you know and that's again depending on state but still in general you know you know that you stand a chance of either getting your ass whooped and you have police that have guns in london most cops carry sticks and whistles.
Wow, that's not doing much.
You got a guy running at you with a machete.
You got a stick and a whistle.
What are you doing?
You know what I mean?
Like, man, that's nuts.
Well, Roman, it's been awesome, man.
What's next for you?
Where can people find you?
My social media.
Like, I'm one of the guys.
I told you, I answer all my DMs.
So, Roman Sharp on my Instagram will always, you can always get me there.
And if you'll watch it, just go to the website.
Also, our inventory is live.
Cool.
We'll link everything below.
If you need to watch, guys, DMM or check out the site.
Thanks for coming on.
Yeah, bro.
I appreciate you having it.
Finally, we got it together.
Absolutely.
perfect timing.
You text me like, oh, dude, I'll be in Vegas.
Yeah, that's that's the universe.
I appreciate it, bro.
Thank you so much.
See you guys.
Take care, guys.