This is not to say you can’t sell a cheap watch; it simply means you need to expect next-to-nothing for it and sell it through a method that won’t chew up the sale in commission and opportunity cost.
The watch is made from stainless steel Complexity of the watch; it will be worth more if it took many months to create by hand Conservative - it has hours, minutes, seconds and date; no other features (too faddish, too garish and the watch is less likely to hold its value well) It is of an average size (although this depends on the trends of the time and brand influence) It uses automatic Swiss movement The brand is recognizable and sells well when new The watch is rarer than other watches; if it was sold in limited supply or as a limited edition (perhaps for an anniversary celebration of the watchmaker), it will often be more attractive as a resale item (but see “conservative” above).
The watch should be in very good condition, close to as good as new if possible. Get a professional clean from an expert if it needs a clean and polish up; do not attempt this yourself in case you devalue the watch. The watch should be in working condition. If not, can you get it fixed and still make it a worthwhile sale? Be aware that replacement pieces can immediately devalue its worth. [4] X Research source The watch should be original. As noted, replacement pieces can alter the value, as can aftermarket add-ons. [5] X Research source Does the watch come with its original packaging and perhaps even with the sales receipt? These “peripheral” items can increase the value because they help to authenticate both the source and the original purchase price. Plus, some people like to have the original packaging if it was well made.
Be sure to do a comparison with quite a few different sellers and auctions sites, just in case nobody is buying and the sellers are just valuing off each other! Additional research can be done by checking out books about watches from the library or online ebook sources. Look for information about what makes your watch unique and desirable (or what it lacks by way of those essentials).
Be aware that even within the same range of watches, some may have been made better than others, in order to capture two different price markets. Always be sure of which one you have before assuming it is worth a good amount.
Consider whether anyone you know has expressed an interest in your watch before. This might be a friend, a family member or a coworker. Of course, you’ll need to be polite and make it clear that there is absolutely no pressure; don’t let anyone feel they have to buy your watch. Try offering the watch to this person at a fair price, before trying one of the other ways of selling it. Sell via an auction site. Auction sites such as eBay will allow buyers from all around the world to find your watch. If it’s something that a person is after, no matter where they are, they can bid on it. However, you will need to have a good track record of sales, as the trust factor is very important when selling a collectible or valuable item. If you haven’t established this yet, this option may not be the best one for you. To reassure bidders, have the official valuation done and included as part of the sale. [8] X Research source If online auctions aren’t for you, try a watch swap-and-sell online forum. Many watch enthusiast websites have forums where people within the community trade and sell watches. While finding, joining, and building an element of trust within these communities takes time, it can be rewarding to be involved in a community where people have interests that are similar to your own. On the other hand, there is a certain amount of risk associated with working within systems like these, so use extreme caution if you choose to try your luck with a forum.
A safe and often easy way to sell your watch is to take it to a professional jeweler or watch shop, perhaps the same one that appraised your watch, and ask whether they would be willing to buy your watch from you or place it on consignment on your behalf. You can sometimes ask for store credit, something that will probably appeal to the owner. The pitfall here is that most jewelry stores and watch specialists have high overhead and need to maximize profits, so though you’re likely to get less in the end than you would with other methods. As an alternative to auction sites where you list items and market them on your own, consider an auction site that specializes in high-value items, marketing them only to qualified buyers. Sell through an auction house. Call local auction houses and set up a meeting for assessing the worth of auctioning off your watch. If there are specific jewelry and watch auctions run by the auction house, you’ll be able to get your watch both appraised and allotted to a specific auction that will attract people expecting watches. However, this option is only recommended if your watch is worth a great deal, such as $100,000, or if the auction house is small and doesn’t take huge commissions. [9] X Research source For any less, you may find fees and commissions are just too prohibitive. (There is also the risk of using a small auction house not being able to get you the return on the watch that you’re seeking. ) Pawnshops are always looking for watches to buy, but in most cases, they should be considered as a last resort. Most pawnshop staffers have no special knowledge of watches and unfortunately, low-balling prices as a means of staying on the safe side and maximizing profits is universal throughout the pawnshop business. If you’d like to get a short term loan and use your watch as collateral, you may find the idea of working with a pawnshop appealing; otherwise, it’s best to avoid pawnshops if at all possible.
Another alternative way is to sell if at a yard or garage sale, a car boot sale or on a market stall. However, you’ll also need to be selling a whole lot of other stuff to make this effort worthwhile. Some people like to do craft with old watches. If you have a bundle of watch faces and workings that you no longer want, consider listing these in a craft section of an auction site or some type of craft supplies exchange.
With online auction sites such as eBay, you may have to wait for your money if you don’t have a well-established seller profile. The more money you make on the transaction, the longer you may have to wait for your cash. [10] X Research source [citation needed] You can accept payments by cash on collection, through bank account or by credit. If the watch is really valuable, you may also wish to use an escrow service offered by the auction site, in which a third party handles the transaction to ensure it is authentic and above board. When working with most online retail sites, payment happens immediately, usually with funds being sent directly to your bank account. If you decide to sell your watch via forum, payment varies. As such, it’s vital that you work with a trusted buyer and do not send the watch until payment is confirmed. When working with jewelry stores and watch sellers, you may be paid immediately for a sale, although in some cases you may be forced to wait until your watch actually sells to a local buyer. There may be other reasons for payment delays too; discuss this with the retailer before going ahead with the sale. With pawnshops, you get cash in hand immediately, but you are likely to be less than pleased with the way the overall transaction went. [11] X Research source
Luxury Swiss brands A. Lange & Söhne Rolex (Explorer, Submariner) Vacheron Constantin Jaeger LeCoultre Patek Philippe TAG Heuer (resells well, likely to suffer big dip in value) Omega Speedmaster Ebel, Piaget, Longine, Concord, Hublot and Piaget will likely still gain you decent sales somewhere in the hundreds but they do not hold their value well compared to the original price, so expect to see a big depreciation upon resale. [13] X Research source
