Online watch seller

Individuals looking for a reasonably priced watch for daily wear, a gift or a collection.

You sell watches for more than you paid for them, and add small earnings from straps, batteries and gift packaging.

• Knowing watch brands and fair prices
• Clear photography and honest descriptions
• Customer service and careful packing

• Fakes and stolen goods: check where each watch came from and keep purchase records
• Consumer rights rules for online sales, including returns, which you should check before you start
• Insurance for stock held at home and in the post
• Whether you need to register for Self Assessment as a sole trader once you start trading
• Second-hand precious metal items may have extra rules, so check before selling gold or silver watches

Startup costs are typically around £500 to £3,000, depending on the value of the watches you buy and the photography and packing supplies you need. These are estimates, so start with a small, carefully chosen range.

Monthly revenue is typically around £500 to £3,000, depending on what you sell, your pricing and how often you source stock. That is revenue before stock costs and fees. Time needed starts at around 6 hours a week.

Check where each watch came from and keep purchase records, because of the risk of fakes and stolen goods. Check consumer rights rules on online sales and returns, insurance for stock, Self Assessment registration, and any extra rules for second-hand gold or silver watches.