Watches are investment pieces, especially luxury watches made by brands like Cartier, Omega, Patek Philippe, Rolex, and Tag Heuer. As much as you love your timepieces, there might come a time when you have to sell them. It could be that you need some funds for an emergency, or you’re looking to buy a more expensive watch to add to your collection.
Since luxury watches are valuable, you must be cautious when selling them online or at an auction. The process can be troublesome, especially if you haven’t done it before. Putting up valuable timepieces for sale is not the same as selling other items.
So, perhaps you’re wondering: what does it take to sell my watch the right way? Here are some tips you may consider for a successful sale.
- Know Where To Sell Your Watch
There are various platforms available for selling your watch. Many people instinctively put up their timepieces on online marketplaces. However, few people know that some online marketplaces are dedicated to buying pre-owned luxury watches.
The advantage of pre-owned watch platforms is that they have specialists familiar with different brands and models and can give you a fair appraisal of the value of your timepiece. It’s also a secure and convenient way of selling your watch.
Dedicated online communities and forums are also worthwhile alternatives. For instance, if you’re looking to sell your Patek Philippe, consider putting up your timepiece in their forum. Since you have to connect directly with the potential buyer, you don’t have to pay any seller’s fee or commission.
In addition, you may consider auction houses. You may opt for a traditional or online auction house. With an auction house, your valuable timepiece gets maximum exposure, but you may have to pay a vendor’s fee or commission, which can be as much as 15%. Also, it may take several months before they can sell your watch.
- Include The Box And Papers
A pre-owned luxury watch is easier to sell if you can prove its authenticity. To do that, you may include in the sale the original box and the papers that came with it when you purchased the timepiece. These papers indicate the watch model and serial number. They may also include a Certificate of Authenticity, user manual, and warranty card.
People are naturally skeptical about purchasing second-hand timepieces, especially considering the number of replica luxury watches on the market. Having the box and complete documentation assures potential buyers that the item you’re selling is genuine.
Furthermore, a complete package (watch, box, and papers) can increase the resell value by more than 15%, according to specialists’ estimates. Watch collectors and enthusiasts will gladly pay more if the box and papers are intact, as these preserve the history of the watch.
If you have the original receipt of your watch, you may present it but not necessarily include it in the sale as it contains your personal information. However, you may include the service history records, as they show that the timepiece has been well taken care of and is in excellent condition.
However, note that any service that alters a watch’s original state, such as replacing a component, may reduce its value. This is particularly true for vintage luxury timepieces.
To determine a reasonable price for your valued timepiece, it helps to check online marketplaces and auction house results.
- Take High-Quality Photos Of Your Watch
Another way to ensure a successful sale is to have clear photographs of your watch’s front, back, and side. Sharp pictures can help sell your valuable timepiece by allowing potential buyers to examine its make and condition.
It may not be necessary to use high-end camera equipment and fancy lighting accessories to capture high-quality stills of your watch. A smartphone with advanced camera features can also provide awesome-looking photos of your timepiece. Make sure to get the focus right and avoid glare as much as possible.
With the right photos, your pre-owned timepiece can garner potential buyers’ interest.
When it comes to selling a valuable item like a luxury watch, finding a buyer can be tricky. You have several options, and each comes with its pros and cons. If you’d rather not deal directly with potential buyers, you may consider pre-owned watch platforms or auction houses. However, if you need to liquidate your valuable asset right away, then an auction house may not be suitable.
Furthermore, taking a few extra steps can help you get a better price for your watch, such as providing high-resolution photos and including the original box, certificate of authenticity, and other papers.
Finally, be wary of the risks so that selling your timepiece can go as smoothly as possible.