Luxury watches are usually more useful as an ornament than their everyday function. However, the market for second-hand watch brands has expanded, and it makes sense to sell them if you aren't using or owning them.
According to market reports, the luxury jewellery market was worth approximately USD 40 billion in 2020 and grew at a rate of approximately 8% yearly. Also, every year, new trends emerge consistently, and designers and customers shift towards the new fad.
So, whether you want to upgrade yourself or for any other reason, you have to know the answer: "How and where should I sell my watch?" You have to remember that the law of supply and demand dictates the number of people buying and selling used luxury watches. Quite naturally, it will become important to choose the correct buyer for your possession. Here, we have tried to answer your question and make things easy for you.
Choosing the right place to sell
Luxury watches are often embellished with precious stones or are made up of costly metals like titanium. Therefore, you cannot go and pawn it off. As a used luxury watch seller, you have to find out the best place to sell used watches.
Many will recommend online selling, but it is not recommended as the chances of getting scammed are great. It is best to consider the following places for selling watches near me projects:
[1]. Auction houses
Auction houses are licensed and experienced in selling your luxury timepieces. Incidentally, it is best to choose reputable and established brands like Sotheby, Christie's, or Bonham's than other less-reputed agencies – as they are much safer.
However, the final price you will get may be different from what you like. The buyers here will be looking for a bargain, especially with expensive brands, and you will have to pay the auction company charges like auction house fees, sales fees, appraisal fees, and others depending on the company. So, if you like straight and secure options, auction houses will be the best option for you.
[2]. Local jewellers
Local jewellers are also safe resellers. Most of these businesses are reliable and are less likely to take advantage of you. However, you must be aware that the jeweller may be someone other than a watch specialist or a second-hand luxury watch-buying expert. You will get a reasonable price but not the highest price. If you like stress-free resale, it's a quick and safe option. However, it is best to talk with a second-hand luxury watch specialist if you want to have the best result in selling watches near me.
[3]. Specialist jewellery buyers
You can also go to specialist jewellery buyers rather than visiting a generic jewellery store. They are experienced and trained to identify jewellery of all kinds – so they will be suited to know your watch's actual value. They are the best place to sell used watches if you own one of the high-end luxury brands.
However, finding a genuine expert will take time, but in the end, the buyer will appreciate the watch more. It is the best way to get the deserving value for your luxury watches.
Also Read:- Things That You Need To Figure Out Before You Sell Your Watch For Cash
According to market reports, the luxury jewellery market was worth approximately USD 40 billion in 2020 and grew at a rate of approximately 8% yearly. Also, every year, new trends emerge consistently, and designers and customers shift towards the new fad.
So, whether you want to upgrade yourself or for any other reason, you have to know the answer: "How and where should I sell my watch?" You have to remember that the law of supply and demand dictates the number of people buying and selling used luxury watches. Quite naturally, it will become important to choose the correct buyer for your possession. Here, we have tried to answer your question and make things easy for you.
Choosing the right place to sell
Luxury watches are often embellished with precious stones or are made up of costly metals like titanium. Therefore, you cannot go and pawn it off. As a used luxury watch seller, you have to find out the best place to sell used watches.
Many will recommend online selling, but it is not recommended as the chances of getting scammed are great. It is best to consider the following places for selling watches near me projects:
[1]. Auction houses
Auction houses are licensed and experienced in selling your luxury timepieces. Incidentally, it is best to choose reputable and established brands like Sotheby, Christie's, or Bonham's than other less-reputed agencies – as they are much safer.
However, the final price you will get may be different from what you like. The buyers here will be looking for a bargain, especially with expensive brands, and you will have to pay the auction company charges like auction house fees, sales fees, appraisal fees, and others depending on the company. So, if you like straight and secure options, auction houses will be the best option for you.
[2]. Local jewellers
Local jewellers are also safe resellers. Most of these businesses are reliable and are less likely to take advantage of you. However, you must be aware that the jeweller may be someone other than a watch specialist or a second-hand luxury watch-buying expert. You will get a reasonable price but not the highest price. If you like stress-free resale, it's a quick and safe option. However, it is best to talk with a second-hand luxury watch specialist if you want to have the best result in selling watches near me.
[3]. Specialist jewellery buyers
You can also go to specialist jewellery buyers rather than visiting a generic jewellery store. They are experienced and trained to identify jewellery of all kinds – so they will be suited to know your watch's actual value. They are the best place to sell used watches if you own one of the high-end luxury brands.
However, finding a genuine expert will take time, but in the end, the buyer will appreciate the watch more. It is the best way to get the deserving value for your luxury watches.
Also Read:- Things That You Need To Figure Out Before You Sell Your Watch For Cash
Should I sell my watch without checking its condition?
Checking the condition of your watch is necessary for both the buyer and seller, and you should forgo this step if you only want to get rid of your timepiece. Your buyer should also check the condition of your luxury watch, as it will have a significant impact on the price you will receive for it. They should watch for signs of wear and tear and check whether its internal components are working properly.
In addition, knowing its condition deeply will prepare you for the price negotiation phase of your "sell my watch" project - after the buyer has finished evaluating it.
Transparent and honest buyer
The buyer you choose should negotiate and must be able to pay the price your watch deserves. They should be aware that a luxury watch in mint condition will be priced higher than a watch that the owner has used.
So, it would be best to know about the buyer before you advance to the negotiation stage. If it's a business or a company, you can get an idea from their online reviews. Check them from an unbiased, third-party review website.
In conclusion
In the luxury watch reselling market, keeping your original box and papers maintained can create a significant difference in your product's resale value. These documents help prove the watch's authenticity, which adds to its resale value.
These documents are necessary for your luxury watch to avoid a loss of about 20% market value than a watch that has them. So, whenever you think, "Now I should Sell My Watch," ensure that you have the original box and papers intact.
Most importantly, only agree to ship the watch or share your account details after the buyer has paid you the agreed-upon price.