Is your watch collecting dust or cash? Not to worry. This article is the ultimate guide to knowing when and how to sell your watch hassle-free. Now’s probably the right time to sell your watch once the price is right.
So you’ll learn what affects the price of your watch and how much you can get back on it. And the best route to sell your watch at your convenience.
Finally, I’ll pinpoint some of the instances when it is best to sell your timepiece.
Selecting the Right Platform
Choosing the platform to sell off your watch is the first hurdle to selling your watch. Ideal factors to help you decide are convenience, profitability, and top of the least, is trust.
A. Physical Store
Walking into a trusted watch shop is a no-brainer. If you have a luxury watch store close to you, by all means, approach them for an appraisal of your watch. Most times, it’s free.
Also, you get to handle the transaction face-to-face, making it the most trustworthy platform.
B. Online
This one’s the most convenient approach. You can also find online dealers who have a brick-and-mortar store, to add a level of trust to the transaction.
The process usually involves filling out a form with the information of your timepiece and receiving a quote. If it’s in your favor, you’ll cargo the watch to the dealer and (upon inspection) get paid in return.
Selling your Cartier watch to Exquisite Timepieces offers this 3-step process and the option of a physical transaction.
C. Marketplace Auction
This is the safest and puts the wholesale process in your hands. It’s as simple as putting up your watch for auction on a trusted marketplace like Chrono24 or even Ebay.
However, his mode of selling your watch also has the potential to be the slowest option. It’s also stressful because you have to deal with multiple prospective buyers, including unserious and thieving ones.
However, you have the option of pawning it off at a luxury watch store physically, or online auction at a marketplace.
The Right Time to Sell Your Watch
Now you know where to peddle your precious timepiece. Here are the best times to sell your watch.
1. When Life Happens
It’s a no-brainer in this case. The market or brand name won’t matter. You just want your watch sold for some quick cash. Whatever the issue may be, be sure to sell it to an authorized dealer. Unlike a random person buying, they’ll give your full money’s worth.
2. It Has Become A Profitable Investment
Say you’ve owned a Rolex Submariner you hardly wear for around five years. There’s a good chance its value has increased by up to fifty percent.
If your watch is in good condition and you’ve had your eyes on another brand, this may be the best time to sell your watch.
Basically, if your goal is to buy low and sell high, do so immediately when the market is hot. In some cases, it might take another few months or even a few years to hit another profit margin.
3. Your Lifestyle Changed
The best thing about luxury watches is they retain value fairly well. So if your style evolves and you need a watch that matches your latest lifestyle, it’s easy to flip your watch for it. You may have to add some change or maybe even gain if you quickly sell it.
4. It’s Become A Chore To Own
Nobody tells you how difficult it is to maintain a grand complication or futuristic timepiece when you’re splurging on it. From the frequency of maintenance to the cost of said maintenance, it might be a telling sign to sell your watch.
5. Time of the Year
If you’re already sure your watch is hitting the market, selling any time of the year is fine. Sure, you might get a few hundred bucks more in the holiday season from desperate buyers. But it’s definitely not worth waiting out since it’s only a possibility.
6. Your Watch Taste as Evolved
This is one of the reasons why having a watch collection is an interesting hobby. After your first significant investment, it becomes easy to get any watch you desire. So as your taste evolves, you can easily swap your current watch for your new muse. Say you used to love a watch with a syringe hand and developed a new attraction to sword hands, this is the right time to sell your watch.
Conversely, you simply want to upgrade your watch collection with a timepiece from a more respected brand. Sell your watch pronto.
Understanding the Market Dynamics
Talk about factors affecting watch prices, check watch advisor for reference.
1. Popularity
The popularity of your watch brand and model, in particular, significantly affects your watch’s resale value. A well-known model from a respected brand will command a strong value on the marker. On the other hand, less popular brands lose significant value.
2. Scarcity
If your AD doesn’t have the model you want to sell or it’s not common on the market, you can command a higher price.
3. Brand Name
The stronger the brand of the watchmaker, the higher the price you can sell it for.
4. Watch Condition
It goes without saying that watches without scratches and dents are more valuable on resale. Well, except for historical pieces and watches owned by an important figure. It doesn’t have to be an A-list actor, but a character your potential buyer idolizes. In such cases, market price is abnormal
Finalizing the Sale
Before agreeing to a deal, it’s only normal for you to do your due diligence on a fair price. Feel free to walk away if you’re lowballed, your watch is precious and you’ll find a befitting price. Finalize shipping arrangements to get the watch to the buyer safely and on schedule.
Opt for a secure payment mode like an escrow service or wire transfer, which offers protection to you and the buyer. Desist from personal checks or cash to be on the safer side.
If you’re selling yourself, write a detailed and compelling description of the watch. This includes its history, box and papers, and accurate mention of its condition. And take high-quality photos that show any dents and wear for a transparent transaction.
Finally, we recommend working with reputable watch dealers to sell high-value timepieces.
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