5 Things To Consider Before Selling Your Watch

Whether you bought your watch with the intention of selling it for a profit, or you simply want to upgrade your watch to a different style, knowing how to sell your watch is key. 

There’s a booming second-hand luxury watch market that continues to grow in demand, so there’s never been a better time to sell and get the best possible price. But, there are a few things to consider before you do so.

Here, we’ve compiled our top 5 tips on what to consider before selling your luxury watch. 

1. Its market value

There’s inherent value in a luxury watch that’s been well-made and bears the name of a renowned, reputable brand.

Even the simplest luxury watch can feature hundreds of parts that have been carefully produced and positioned for the watch to work, and that craftsmanship is the reason why they’re so valuable. It’s more than just a stylish accessory but also a useful tool and in many cases, a real work of art.

However, while the value is there, you do need to consider the inherent value and its market value, as the two are not necessarily the same. 

Market value is the price that someone is willing to pay for an item. This figure can vary widely based on the model number, the brand, the materials used and whether the watch is limited edition or particularly rare. Market values can ebb and flow, so before you put your timepiece on the market, make sure you do your research to know precisely what people are prepared to pay for the watch you have. 

2. The condition of the watch

You may own one of the most desirable watches on the planet, but if it’s in poor condition or damaged, this will affect the price you’ll get for it. So, before you sell your watch, take some time to objectively assess its condition and look for signs of wear and tear or poor performance. 

Having an understanding of the watch’s condition will prepare you for a potentially lower figure from your buyer, depending on the state of the watch you have, and you’ll have appropriate expectations. If there’s clear signs of wear and tear, or it simply doesn’t perform on a technical level, then you’ll know that you’ll either need to get it repaired first or accept a lower price. 

3. Whether you have the original documents

If you’re new to selling luxury watches, you may think that all you need is the watch itself. And while that’s the most important factor, you also need to have the original box and papers if you want to get the best possible price. Selling without these items can significantly affect its value, because these items help to verify the authenticity of the watch and that enhances its value. 

You may be surprised to learn that a watch without its original box and documents can have a market value of around 20% lower than one that does. It’s still possible to sell your watch without them, but just be prepared that it will affect the price your watch will fetch. 

4. The authenticity of your watch

As is the case with any high-ticket item, the world of luxury watches is rife with fakes and counterfeit watches. So it stands to reason that the authenticity of your watch is paramount to the price.

You need to know for certain that your watch is genuine before you come to sell it, which is easy enough to be confident of if you purchased it yourself but can be trickier if you received it as a gift or you inherited the item.

There are some subtle giveaways such as:

  • The materials used
  • Logos or fonts looking different from originals
  • Weight of the piece.

If you’re unsure, it is well worth checking with an expert to confirm that the timepiece you have is authentic. 

Another thing to look out for is Frankenstein watches, which are watches which have been altered or made from different parts. If a jeweller adds gems to a non-diamond watch, for example, the result will be a Frankenstein watch, and this will decrease the value rather than boost it. 

5. Knowing where to sell your watch

Finally, once you’ve done your research, checked the condition and ensured that your watch is genuine, it’s time to sell. The final thing to consider is where you are going to sell your watch. Selling to a local buyer is a safe option, but may not necessarily be the most convenient depending on where you live. 

Alternatively, selling through a specialist company such as The Watch Exchange London will ensure you’re dealing with experts in the industry and that you’ll get the very best price for your watch. A specialist buyer will have a thorough understanding of the market and your watch’s value, so you can be confident of getting a great price with an easy selling process.

Ready to sell?

If you’re ready to sell your luxury watch, get in touch with the team at The Watch Exchange London today.