Market for the purchase and sale of luxury watches

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Market for the purchase and sale of luxury watches

Published:

Fri, 07/04/2017 - 16:22

By:

kelvin
When to invest in a watch
Published: 
07 April, 2017

When it is time to sell...

Omega, Cartier, Breitling and Rolex, names all synonymous with luxury, style, substance and quality. These luxury watches are considered timeless accessories and tend to hold their value well based upon the fact that these timepieces are examples of quality craftsmanship and on occasion their rarity.

Whilst these watches hold their value, it is important to remember that enthusiasts and collectors are looking for the best deal they can and it is important that you obtain the best deal for you. If your watch is in a good enough condition to even consider resale, then you should be achieving a price that reflects the original value and the care that you have taken to preserve the piece. Read the guide below on how to sell a luxury watch to get the best value.

Paperwork

Just like selling a car, the more paperwork you have the better. If you have the original purchase receipt proving the original value, the retailer it was purchased from, particularly if it is a limited addition, then this can help add value to the authenticity and ultimately the valuation of your timepiece. If you are talking about a really classic Rolex for example, then anything that proves purchase and origin can help increase the valuation placed. If there are any guarantees, or extended warranties, evidence of manufacturer repairs all demonstrating that care that has been taken over the preservation of the watch then this can really make a difference.

So before you put your timepiece on the market ensure that you have as much paperwork in order as possible to provide authenticity, particularly in the age of copying and fake items. This paperwork can also be useful to demonstrate if there are any special limited edition features.

Use a specialist

Ok so we are used to the eBay culture of selling whatever we can for cash but when selling a luxury watch, this is where specialist come into their own. They will be looking to make a margin of course, but that will be on their mark-up also. These specialists understand the market and they may well have a list of collectors or potential buyers already lined up for an item like yours. They can advise on ways to increase the value after all they are interested in your item as it has value for them too.

Be honest about the condition of your watch

To get the best price for your item, you are probably going to seek out a reputable dealer. These people know what they are looking for, they have a ball park figure they are willing to pay, it is up to you to negotiate the best price for you but also to live up to the description you provide. There is no point you are getting excited over the valuation only for the dealer to significantly decrease the value on inspection of the piece. All pre-owned, vintage watches will require repair and maintenance, if the piece needs work then it is important to mention this to get the right price and meet your expectations, however it may well be worth incurring a small outlay and investing in some restoration work prior to taking it to market, the dealer and the new owner will be appreciative. 

The most important piece of advice though is take your time! Wait for the right deal not the next deal.

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