Luxury watches are expensive investments. When you decide to sell it, don’t forget that it does have real value. Online marketplaces and auction sites are great for selling old clothes and electronics, but selling a fine watch is not as simple as other products. You are just not going to get the price you want on those luxury watches.
On a site like Amazon or eBay, you have a rating system which is vital to most shoppers and traders. Everything is influenced by ratings, and it’s all about trust. Those selling frequently and with high customer approval ratings do best, especially compared to someone hopping on to sell a single watch with no history. As a first time seller, your rating is zero. No buyer will be willing to trust your purchase for any significant amount of money – you’ll get nowhere near what you deserve for your watch. By selling your watch to Precision Watches & Jewelry in the Willow Grove Park Mall, you won’t ever have to deal with the stress and trouble of selling your watch to a complete stranger online, or the fear of getting a bad deal. Selling to us is easy, safe and rewarding!The following tips can help you increase the amount you get for your watch.
The following tips can help you increase the amount you get for your watch, whichever way you decide to sell.
1. Hidden commissions with auctions
When selling a higher-end luxury watch, many people assume they need to go to auction. We don’t mean a site like eBay, of course – we mean an actual auction house. It may seem easy and hassle-free, but there are many hidden complications. First, hidden commissions are a killer, and can negate any benefits. Instead of just a sale price, you have a buyer’s commission (15-25%), as well as a seller’s commission (10-15%) both further reducing your take home. Along with insurance, photography, and the shipping price, you really won’t get as much as you deserve.
2. Box and Papers
When you first buy a luxury watch from a reputable watch dealer – depending on the brand – it will likely come with a branded box as well as papers to prove authenticity. By keeping this original box and papers, all the original documents – you can ease the nerves of potential buyers, and even command a higher price than others missing these pieces.
3. Recourse
Whenever you sell a luxury watch, there is a chance that the buyer can come back, claim something is wrong, and demand a refund. Along with this, there is always the chance that buyers will send back the watch in a worse state than when you sent it. We’ve had buyers return watches with missing hardware, recently replaced inauthentic parts, and missing links. Chances are you’ll never even notice something was replaced or stolen, further complicating the issue, and compounding your loss and trouble if someone else catches this when you re-list the item.
4. Include the Model Number
Always include a model number! Without a model or reference number, a potential buyer can’t find the important facts they need to make an informed watch purchase. Without this information, they would likely ignore your watch. Without a model number or reference number, potential buyers can’t find out the important facts they need to make an informed purchase. We do have to mention, do NOT give away the entire serial number. This is one thing that remains private to the owner of the watch, not a prospective owner or someone kicking tires. 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 the first few digits of the serial number, replacing the rest with “xxxxx.”
5. Quality Photos
We take photography seriously. It’s important when listing a luxury watch to include photos from EVERY possible angle – show every imperfection. By being transparent with your sale you will increase the perceived value of your watch, while at the same time reducing any chance that it will be returned for dissatisfaction.
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 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.
