Summary
Highlights
The video introduces Tyler, known as Vookum, who made over a million dollars selling watches. It highlights his early struggles, including cold calling and selling various items without much success, before finding his niche in watch reselling. The host plans to give Vookum $10,000 to flip a watch as a challenge.
The video provides a glimpse into Vookum's daily routine, including walking his dog, having coffee, and discussing his diverse businesses, which include watch trading, reselling, and sponsorship deals. He also showcases his sneaker collection and discusses his successful watch discussion app, which has 2,000 members and has generated over a million dollars.
Vookum shares his financial journey, showing a spreadsheet of his monthly profits from watch trading, starting with just over $1,300 and reaching $10,000 a month by April 2020. He also recounts his decision to drop out of college after just three weeks, driven by a desire for self-employment and success outside traditional paths.
Vookum details his prior jobs and ventures before watches, including delivering pizzas, working in a diner, day camp, and flea markets, and selling iPhones. He emphasizes the importance of gaining work ethic and basic skills from these experiences. He also shares a story of losing $500 on an iCloud-locked iPhone, learning 'tuition' in business.
The host withdraws $10,000 in cash to participate in Vookum's watch flipping challenge. They head to NYC, enduring heavy rain during a walk to a jeweler in the 47th Street Diamond District, to source a watch for resale.
Vookum explains how he got into watch reselling through a friend's dad who was in the business. He started by selling watches for others, making small profits, before buying his own Omega Speedmasters and Rolexes, which gave him confidence in the business.
Vookum and the host attempt to buy a Rolex 'Coke' (red and black bezel) to flip. They negotiate price but are initially unsuccessful in securing a deal that would allow for an immediate profit on 47th Street. Vookum shares his strategy of buying a Batman Rolex for $15,500 and selling for $17,000, making a $1,500 profit.
After failing to flip a watch immediately, they buy a Rolex 'Coke' with papers for $9,750, with the goal of selling it through Vookum's platform. Vookum details the process of how he almost sold a watch to Carl Jacobs, a figure associated with MrBeast, highlighting his strict wire transfer policy to avoid scams.
Vookum tours his new office space, which is under renovation and will feature a showroom and watchmaker station. He then posts the Rolex 'Coke' on his W app for $11,000. After a user named William expresses interest, Vookum successfully sells the watch for $10,500 over the phone, resulting in a profit of $650 for the host.
The day's total profit is calculated at $4,850, combining Vookum's prior sales and the host's flip. Vookum and the host attend a gun class for fun and muscle memory training. Afterwards, they eat pizza at 'Crispy Pizza,' discussing their experiences, the challenges of their paths, and the support (or skepticism) they received growing up.
Vookum explains how he came up with his unique business name by googling random words to find something distinct. The host then gives Vookum a surprise gift: a pair of Travis Scott Jordan 1s, which Vookum had mentioned liking earlier, concluding an 'unreal day'.