Digital Social Hour Podcast Summary
Episode Overview
Episode Title: Roman Sharf: Inside the $100M Watch Empire: Secrets to Scaling
Host: Sean Kelly (with co-host Brad)
Guest: Roman Sharf (CEO of Luxury Bazaar)
Air Date: September 10, 2025
In this riveting episode of Digital Social Hour, Sean Kelly and Brad sit down with renowned watch dealer and entrepreneur Roman Sharf. They dive deep into the world of high-end watches, the evolution and volatility of the luxury market, business scaling strategies, notorious scams, and the stark realities of dealing in one of the world’s most prestigious – and precarious – industries. Roman offers candid reflections on his personal journey, market dynamics, and operational secrets behind running a $100M+ watch empire.
Table of Contents
- The World of Watches: Flex vs. Investment
- Brand Hierarchies & Market Insights
- Hublot, Controversy, and Horological History
- Market Dynamics: Boom, Correction, and Stability
- Roman’s Business Evolution: From Basement to Nine Figures
- Family, Values, and Generational Entrepreneurship
- Watch Market Post-COVID: Secondary Market and Volatility
- Risks, Scams, and Security in the Industry
- The Global Watch Trade: Regions, Regulations, and Tariffs
- Counterfeits and the Science of Spotting Fakes
- Personal Safety, Street Smarts, and Urban Realities
- Final Reflections & Where to Find Roman
1. The World of Watches: Flex vs. Investment
Key Discussion (00:35–02:38)
- Roman discusses why most people buy luxury watches today, referencing both the “flex” (status display) and investment aspects.
- COVID-era market shifts saw astronomical price climbs, especially for top brands like Rolex, Patek Philippe, Audemars Piguet, and Richard Mille.
Notable Quote:
"The watch industry has become a lot about flex, right? ... probably about 80% of the reasoning people buy watches today. And the second thing is the dollar sign—Hey, where is this watch going to be in terms of holding value?"
— Roman Sharf [00:47]
- Roman wears two Patek Philippe watches, using them as a metaphor for overt (“for those who know, and this is for those that everybody knows”) vs. “stealth” flex.
2. Brand Hierarchies & Market Insights
Key Discussion (02:49–05:45)
- Brand ecosystem: Rolex, Omega, Cartier, Audemars Piguet, Richard Mille.
- Sales data: Rolex alone produces over a million watches a year with $10 billion in revenue, outpacing the next several competitors combined.
- Cultural/historical context: Omega was once king before Rolex’s ascent in the ‘70s.
Notable Quote:
"Rolex is still king in terms of popularity and production and sales.
— Roman Sharf [02:38]
3. Hublot, Controversy, and Horological History
Key Discussion (05:45–08:34)
- Hublot’s mixed reputation: Hublot is the “number 14 most popular brand in the world,” facing unfair online hate, but is a top 10 seller for Roman.
- Industry context: For decades, even top brands used off-the-shelf movements (e.g., Patek used Lamania).
Notable Quote:
"Regardless of what everybody talks about, Hublot is still very much on top. ... 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."
— Roman Sharf [08:04]
4. Market Dynamics: Boom, Correction, and Stability
Key Discussion (08:41–11:14; 15:50–18:41)
- Secondary market now eclipses the primary in size due to supply constraints and pandemic-era hype.
- Post-pandemic correction: Market stabilized after a significant dip; high-demand models (like Rolex Daytonas) remain 1.5x pre-COVID prices.
Notable Quotes:
"Whenever you have the economy at the very top, it's bound to go back down. ... The secondary market has long surpassed the primary market."
— Roman Sharf [08:41, 09:46]
"This is when we know that, okay, it doesn't make sense. ... You can equate the same to watches."
— Roman Sharf [16:17]
5. Roman’s Business Evolution: From Basement to Nine Figures
Key Discussion (10:03–11:14; 12:19–12:27)
- Started in his basement 22 years ago; grew Luxury Bazaar from eBay beginnings to a $100M+ company.
- Pivoted from B2B to B2C, focusing on product liquidity and evaluation.
Notable Quotes:
"I started this out of my basement. ... My son's gonna be 22. So my business is a little bit over 22 years old."
— Roman Sharf [12:19]
6. Family, Values, and Generational Entrepreneurship
Key Discussion (12:31–15:16)
- Roman teaches his son business essentials early; son founded a streetwear retail business while in high school, reached nearly $6M in revenue.
Memorable Moment:
Roman recounts challenging his 14-year-old son to create P&L, balance sheets, and inventory statements, leading to exponential business growth and acceptance into prestigious colleges. [13:10–13:50]
7. Watch Market Post-COVID: Secondary Market and Volatility
Key Discussion (15:50–18:41; 21:55–23:35)
- Pandemic-era government stimulus and global pressures fueled the spike in luxury demand.
- Business media and personal branding became crucial, with Roman’s pivot to YouTube and Instagram, following the advice to “educate your consumer first and foremost.”
Notable Quote:
"Educate your consumer first and foremost. Two way they would feel stupid to buy anywhere else besides you, regardless of price, within reason."
— Roman Sharf [23:11]
8. Risks, Scams, and Security in the Industry
Key Discussion (24:46–29:27; 41:00–42:20)
- Roman shares stories about elaborate frauds, such as three-way and four-way scams involving fake bank wires and forged checks.
- Reveals legal risks: If money is sent to his business in a scam, he may still be required to return it by law.
Notable Quotes:
"Scams we've been hit with and we've lost money over the years. ... It's cost of doing business."
— Roman Sharf [24:54]
"If I would have sent the watches out, I would still have to return the money to him. ... I would be out that 54 grand."
— Roman Sharf [28:41]
9. The Global Watch Trade: Regions, Regulations, and Tariffs
Key Discussion (32:33–37:20)
- China’s economic deceleration, COVID fears, and changing regulations have shifted the market.
- Tariff challenges: India’s 50% import duty, US increases to 13.5%, and European duties—making international expansion difficult for US dealers.
Notable Quotes:
"China was big. We have an office in Hong Kong for that very reason because we cater to mainland Chinese clients."
— Roman Sharf [34:21]
"You sent something to the UK—24[%]. Any other European country, 20 to 27[%]. ... But now we're in, not the World Wide Web."
— Roman Sharf [36:26, 36:37]
10. Counterfeits and the Science of Spotting Fakes
Key Discussion (42:15–46:40)
- “Super clones” (ultra-high quality counterfeits) are now so convincing that even experienced dealers need to open them up for inspection.
- Roman’s in-house watchmakers open every watch—even those that look perfect externally.
Notable Quotes:
"We can tell a fake from a room away. ... Had a particular watch in your hands a thousand times over, you're gonna know."
— Roman Sharf [42:20]
"The super clones today are scary."
— Roman Sharf [43:24]
"Against counterfeits in general. I'm against people wearing counterfeits because I think it defeats the purpose. It's like being rich in Monopoly—who you trying to impress?"
— Roman Sharf [45:32]
- Roman argues against using fakes for safety: “If you ever feel unsafe, that defeats the purpose. ... For me, safety takes priority over flexing.” [46:00–46:40]
11. Personal Safety, Street Smarts, and Urban Realities
Key Discussion (46:43–51:33)
- Dangers in cities: London and LA, especially, are now “no-go zones” for luxury watch wearers due to crime.
- Roman describes preventive safety measures, from delaying live social media posts to fortified offices and concealed carry (as an ex-military sharpshooter).
Memorable Moments:
- Story of evading a setup in London after being marked by would-be robbers. [47:23–47:39]
- Advice to young dealers in London: "Get the fuck out of London." [48:59]
Notable Quote:
"America is a lot safer. ... In London, most cops carry sticks and whistles."
— Roman Sharf [51:13]
12. Final Reflections & Where to Find Roman
Key Discussion (51:42–52:03)
- Roman is active on Instagram (@RomanSharf) and answers all DMs personally.
- All watches and inventory are live on the Luxury Bazaar website.
Essential Timestamps
- [00:47] — Roman on why most people buy luxury watches today
- [02:51] — Production numbers and the rarity of the Patek Philippe 1518
- [05:50] — Hublot's reputation and industry context
- [09:46] — Secondary market’s dominance
- [13:10–13:50] — Roman’s son’s entrepreneurial journey
- [23:11] — The importance of educating consumers
- [25:09] — Most clever scam Roman fell for
- [28:41] — Legal risks for watch dealers in scams
- [34:21] — The importance of the China market
- [43:24] — Dangers posed by super-clone fakes
- [46:00] — Roman on safety and the flaw in using fakes for personal protection
- [47:23] — Almost being robbed in London
- [51:13] — Why the U.S. is safer for high-value dealers
Tone & Takeaways
Roman’s language is direct, unfiltered, and loaded with real-world wisdom, street smarts, and humor. He offers lessons in trust, risk assessment, and entrepreneurship, stressing the value of authenticity and the dangers of flash without substance. This episode is a masterclass in scaling a high-stakes business—and surviving its wildest storms.
Where to Find Roman Sharf:
- Instagram: @RomanSharf
- Website: LuxuryBazaar.com
Listen for:
- Candid breakdowns of the market
- Wild true-crime stories from the watch underground
- Unparalleled business lessons that apply far beyond the world of luxury goods