TFS#197 - Julian Farren-Price Shares Behind The Scenes Of Owning A Rolex & Patek Authorized Dealership

Julian Farren-Price is the owner of J Farren-Price, a renowned luxury watch and jewellery boutique in Australia, specializing in high-end brands like Patek Philippe and Rolex. He took over the family business, founded by his father in 1942, after working as a chartered accountant. With over 35 years of experience, Julian is a respected figure in the luxury retail world. He is also a passionate yachtsman, having won the CYCA Ocean Pointscore Series ten times with his yacht About Time Connect with Julian Farren-Price! instagram.com/jfarrenpricesydney Visit J Farren-Price website to know more about Luxury Watches! jfarrenprice.com.au CHAPTERS: 0:00 - Introduction 0:51 - Julian's sailing experience with his yacht About Time 2:46 - J Farren-Price business history 7:36 - Why is it hard to establish relationships with big brands like Rolex and Patek Philippe? 9:08 - What makes luxury watch brands like Patek Philippe, Rolex, and Vacheron Constantin so popular? 11:12 - Julian discusses brands represented by J Farren-Price that he believes have significant future potential 12:47 - Julian on how to become an authorized dealer of luxury watch brands like Rolex 13:56 - Julian on how Rolex manufactures their watches 16:32 - How does Julian manage or train his staff on watches and jewelry? 17:55 - Julian on succession planning for his business with his children 18:59 - Does Julian and his family have full access to luxury watches? 19:41 - How does Julian retain staff for decades? 22:48 - What is J Farren-Price's outbound marketing strategy? 25:45 - Julian's thoughts on luxury watch collectors 27:14 - How the value of a 1989 Gold Rolex Day-Date increased from $8k to $60k 28:41 - Julian on how collectors store their watch collections 30:00 - Julian's plans to expand his watch store 31:30 - How does Julian grow his store and clientele? 33:49 - How does J Farren-Price acquire new customers and maintain relationships with existing clients? 36:27 - Julian's advice for aspiring watch collectors 37:36 - Julian on spending seven figures annually to market his brand 40:51 - Julian's plans for his store over the next 10 years 43:12 - How does Julian secure supply for his watch store? 45:14 - How old was Julian when he joined J Farren-Price? 51:48 - J Farren-Price: from a seven-figure debt to a strong 20+ year run 54:38 - How does Julian allocate supply to different staff members? 56:19 - Do watch collectors wear all of their collections? 57:51 - Julian's most worn watch, his choice for black tie events, and his dream watch for collectors 1:02:24 - Julian's recent life discoveries 1:03:13 - Julian's goals and focus for the next six months 1:03:45 - Connect with Julian Farren-Price 1:04:44 - Outro