Important Considerations
Before you try to sell your luxury pre-owned watch, pay attention to our advice here to make the entire process easier. Not only that, but this could help increase the value of your timepiece when finally making the sale, whether to us or to someone else.
1.Hidden commissions with auctions
The first place many think of when selling their watches is the auction block. And we don’t mean eBay, we mean a real auction house. Though it seems easy and hassle-free, there are many hidden commissions involved in this process which can negate any benefits. Instead of the sale price, you first have a Buyer’s commission around 15-25% of the sale price, and a seller’s commission that is generally 10-15% of the actual sales price, both further reducing your take home.Along with insurance, photography, and the shipping price, you won’t get as much as you want.
2.Box and Papers
When you first buy a brand newluxury watch from a reputable authorized dealer,depending on the brand,it will likely come with box and papers to prove authenticity. 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.
3.Recourse
When you sell a luxury pre-owned watch, there is always the chance that the buyer will simply come back, claiming something is wrong with the watch, demanding money back. Along with this, there is a chance that buyers will return the watch in a worse state than when you send it. We’ve had buyers return watches missing internal hardware, recently replacedinauthentic parts, and missing links. Chances are you’ll never even realize something was replaced or stolen, further compounding the costs and trouble if someone else catches this when you do re-list.
4.Include the Model Number
Without amodel number or reference number, potential buyers can’t find out the important facts they need to make an informed purchase. Without this information, they will likely ignore your watch, not giving it a second look.
5.Quality Photos
We take high quality photos seriously. It’s important when listing your luxury watches to include photos from every possible angle, showing every imperfection. 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.
6.Never give away the entire serial number
Serial numbers, unlike model or reference numbers, are unique to your specific watch. The serial number is one of the best ways to determine authenticity of a luxury watch. However, if you give out the serial number, replica makers can use your watch as a model for their replicas, stamping it with the correct numbers.A serial number is still important though, so be sure to include it in listings, showing thefirst fewdigits of the serial number, replacing the rest with “xxxxx.”
To get the most money for your watches, you need to include as much information as possible. It’s hard to do this properly without a proper expert valuation team, photographer, and marketing. Read more of our watch selling guide below to learn the considerations that go into determining the price of a watch, and if you are interested, call or contact us to sell your watch today.
