What does “Dog” mean?

In trade slang, a dog is a watch that is hard to sell. It might be an unpopular reference, an awkward size or colour, a model with little demand on the secondary market, or a piece let down by its condition or missing parts. It can still be a perfectly good watch; the problem is that few buyers want it at the price the owner needs.

Dogs tie up money and can cost a dealer more the longer they sit, as the market moves and other opportunities pass. Most dealers would rather sell a dog at a small loss and reinvest than hold it hoping for the right buyer. Spotting a potential dog before buying is part of the skill: checking how often the reference actually sells, how long similar listings have been sitting, and whether the condition or set will put buyers off. One dealer's dog can be another's easy sale if they have the right client.

Example: 'That dial colour is a bit of a dog, it's been sitting with three dealers for months.'