7 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 seven tips on what to consider before selling your luxury watch. 

1. 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. Market trends

The luxury watch market, like any other market, is influenced by trends. Some brands and models become popular for a while and then fade, while others maintain a steady demand. It’s essential to have a good understanding of the current market trends before you decide to sell your watch.

For instance, brands like Rolex and Patek Philippe have consistently been in high demand due to their timeless design and excellent craftsmanship. However, there might be specific models within these brands that gain or lose popularity based on current trends. Limited edition watches or those associated with notable individuals (like the Paul Newman Daytona Rolex) can also see an increase in value.

Trends can be influenced by various factors such as celebrity endorsements, movies, or even social media. For example, James Bond films have historically influenced the popularity of certain watch models, notably from the Omega brand.

Keeping an eye on auction results, online watch forums, and market analyses from watch-related media can provide valuable insights into current trends.

3. 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. 

4. 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. 

5. 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. 

6. Timing

Timing your sale is also an important aspect to consider. The watch market can have seasonal fluctuations. For instance, luxury items, including high-end watches, often sell better around holidays or major gift-giving occasions like Christmas or Valentine’s day.

In addition to seasonal factors, timing can also relate to larger economic conditions. During periods of economic prosperity, luxury goods like watches can see an increase in demand and therefore, potentially, price. Conversely, in periods of economic downturn, the market may be slower and prices can dip.

Finally, if your watch is of a particular brand or model that has recently been discontinued or is about to be, it might be a good time to sell as the price might increase due to its new rarity status.

Bear in mind that market trends and timing are unpredictable and can vary, so they should be considered alongside other factors when deciding when and where to sell your watch.

7. 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 your watch?

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

Frequently asked questions

How do I determine the value of my watch?

The value of a watch depends on various factors such as its brand, model, age, condition, and rarity, as well as the current market demand. You can get an appraisal from a professional or research online on sites like eBay or watch forums to get a rough estimate of its value.

Where can I sell my watch?

You have several options when it comes to selling your watch. These include selling it directly to a collector, at an auction, through a dealer, or online. Each method has its own advantages and disadvantages, which should be considered carefully.

Should I repair my watch before selling it?

The answer depends on the condition of your watch and its value. For high-value watches, it might be worth having it serviced to get a better price. However, for vintage watches, some collectors prefer them in their original, untouched condition.

Do I need the original documentation and packaging to sell my watch?

While not strictly necessary, having the original boxes, warranty cards, manuals, and receipts can increase the value of your watch. These documents verify the authenticity of the watch and demonstrate that it’s been well cared for.

When is the best time to sell my watch?

The best time to sell your watch can depend on a variety of factors, including market trends, seasonal fluctuations, and broader economic conditions. Luxury items often sell better around holidays and major gift-giving occasions. However, this can vary based on the specific brand and model of your watch.

What is a professional watch appraisal, and do I need one?

A professional watch appraisal is an assessment of your watch’s condition and value by an expert. It can be helpful for determining your watch’s value and can lend credibility when selling. However, whether you need one depends on the potential value of your watch and the comfort level of your buyer with the watch’s condition and authenticity.