Perhaps you want to trade your luxury watch for a more current style, or maybe you want to put a little extra money in your pocket. Whatever the reason, selling or trading in your luxury watch is always an option. The watch market is a vibrant one, full of passionate collectors and resourceful people looking for good deals. A luxury watch in good condition—especially one from an iconic brand—will fetch plenty of interest. If you are going to sell or trade, though, make sure you follow these seven steps to ensure a successful transaction.
1. Gather your watch’s box and papers
A watch will always be worth more with the original box it came in, plus the certificate of authenticity. Ideally, you will still have these items and will be able to retrieve them as you prepare to sell your watch. Typically, a watch will go for 20 to 50 percent less on the secondhand market without the box and papers.
2. Determine the exact model and reference number
Nowadays, when so much buying, selling, and trading of luxury watches happens online, it’s crucial to know exactly what make, model, and reference number your watch is. If you still have the box and authenticity certificate, you won’t have much issue learning this information. You might also just know it instinctively. Either way, having these details will make the next few steps of the process much easier.
3. Do your homework
Hop online and start doing some research on your used watch. The luxury watch market is a big, popular niche, so there are lots of resources out there that can tell you about the history of your watch, its current demand on the secondhand market, and a ballpark resale value. Do note, however, that resale prices for different watches can vary dramatically, especially if auctions are involved. Don’t expect that your watch will match the highest recorded resale value for a similar timepiece.
4. Consider an appraisal
Doing online research can give you a general price range to expect for your watch but getting a professional appraisal will yield much more exact information. Many factors can impact a watch’s value, from its condition to the complications it has. An expert appraiser can navigate all these factors to give you a smart resale price to target.
5. Write up a description
You need a detailed watch description to go along with your online listing. This description is your chance to highlight the details that make your watch valuable, including complications, features, rarity, and other miscellaneous trivia. It’s also your chance to be honest about condition. If there’s any damage to the watch and you try to hide it, you could find yourself in a legal scuffle with any potential buyers. Use your description to sell your watch, but don’t stretch the truth.
6. Snap a few photos
Ultimately, photos are what is going to sell your watch. They let buyers or traders see the timepiece, assess its condition, and verify that it is what you have promised. Most buyers will be automatically suspicious of your listing if you don’t include many photos. You need at least one shot of the watch from every angle. These photos need to be clear, high-resolution shots—preferably professionally taken. Blurry cell phone photos won’t do. Include photos of the box and papers, if you have them.
7. List it!
You’re just about ready to list your watch! Don’t just put it on eBay. Instead, list it on a watch-focused marketplace like Crown & Caliber or The Watchbox. Every marketplace has slightly different rules and processes, so pick the one that seems like the best bet for you and then follow their instructions to finalize the listing.
