A luxury watch can be an expensive investment
A luxury watch can be an expensive investment, so when you decide to sell it, don’t forget to treat it as such.
Looking to sell your luxury watch that you have never worn, or you may have worn it every single day for the past 20 years but just need a change? Here are several valuable tips you should always consider before beginning the process of selling your pre-owned luxury watch!
Choosing the right platform:
There are several different avenues you can use to sell your watch, such as selling or consigning directly to dealers, consigning with auction houses or posting to online classifieds or forums. Not every one will work for every watch. By selling your watch through The Luxury Souq, you don’t have to deal with the trouble of listing the watch, deal with the stress of selling to strangers, or fear that you’ll never get the amount you should. Selling to us takes the stress out of the entire process – it’s easy, safe and rewarding!
Pricing Your Watch:
When it comes to selling your luxury watch, the first thing to figure out is how much your watch is worth! At The Luxury Souq we consider the following factors to determine the appropriate price for a pre-owned luxury watch: Model and Serial Number, Condition and Market Value.
Box & Papers:
Buyers are generally interested in purchasing watches that comes as a full set – box and papers! By keeping your box and papers, all original documents, you’ll be able to ease the nerves of potential buyers, and even at times command a higher price.
This is an important factor to consider when it comes to selling a pre-owned watch. The model number will tell everything that a potential buyer needs to know about the watch, such as the year at made, its material and its movement.
When selling your watch online, always provide potential buyers with high-quality photos that clearly show the condition of the timepiece and details. By being transparent with your photos you will increase the perceived value of your watch, while also reducing the chance that someone will return it.
The next factor that determines value of watch is condition. When observing the exterior of a watch’s case, look for any dents or scratches, as the condition greatly contributes to the price of the used watch. If the dents are shallow, then they can be buffed out; however, deep dents cannot be removed and will have an affect on the value of the watch. To get the highest value, the bezel and crown should fit tightly and should not be significantly damaged.
Extremely important in determining the price of a pre-owned luxury watch. In essence, market value is the amount that buyers are willing to spend on a certain item in the market at the current time. Oftentimes, a watch owner may believe that his watch is worth a certain amount, but if buyers are not willing to pay that amount then the owner will never be able to sell it. While some watches, such as Rolex, AP are always high in demand with a consistent market value, this is not the case with all luxury watches. The demand for other watch brands can go through ups and downs, which affect the market value of the watch.
Sell Your Watch with The Luxury Souq here