How To Sell Luxury Watches – An Easy Guide

If you want to free up some cash, learn how to sell luxury watches the easy way with this simple guide.

Part of the fun in selling a luxury watch is the idea of adding a new one to your collection. That’s not always the case, of course. Sometimes, we need to sell valuable items for quick cash. 

“You can’t have it all” is a common motto in life. It most definitely applies to watch collecting. There’s always a point at which you must let a watch or two go. But where do you start?

In this article, we’re going to look at some tips on how to sell a luxury watch, be it an everyday Tissot or an expensive Patek Philippe. As with most things in life, the more you put into selling a watch, the more you get out of it.

 When you get savvy with watches, you soon learn when the right time to invest and sell is. But for now, if you’re new to watch collecting, give this article a read.  

Why Do People Sell Luxury Watches?  

Once you’ve got the bug for buying and selling luxury watches, you’ll never want to stop. It’s true! 

Many enthusiasts start with one timepiece and end up with multiple. The need to upgrade a model often results in trading one watch in for another. And trust me, it never just stops there.  

Not every watch collector wants to put their favorite timepiece up for sale. But luxury watches are valuable items that tie up cash. Releasing a watch from your collection can sometimes fund new endeavors, be that a car or a new business proposition. 

If you want the cash in your bank, watches are an easy sell.

Timepieces are also sentimental. They’re tokens of a time gone by. They often mark an important milestone or represent a well-deserved accomplishment in life, holding personal importance. 

Since they can be lasting reminders of an achievement, they’re hard to give up. Given this, it’s important not to let your watch go for less than it’s worth.

Most keen collectors will admit that luxury watches are their pride and joy. Take one away and, just like upgrading a car or phone, they’ll want to replace it with something better. 

Most people looking to sell a luxury watch are aiming to work their way up the horological ladder. To do this successfully without losing money, they know when to buy and sell.   

When the time comes for you to sell your watch, be that for investment reasons or not, you’ll still want to make a good return on it.  So, if you want to master the art of selling luxury watches, we need to start with the basics.  

How To Sell Luxury Watches  

Mastering how to sell luxury watches is not as hard as you think. The key things to focus on are completing a successful sale and getting a fair price for your timepiece.  

Follow these guidelines on how to sell luxury watches, and you won’t go far wrong. As I mentioned earlier, the more you put in, the more you get out.

There are pros and cons to selling your watch independently or with assisted help. You can opt to sell your watch to a dealer and get a fair price for your timepiece, or put the extra work in and sell it yourself.

If you choose to sell it yourself, you’re more likely to get a better price. Selling your watch to a dealer, however, is less hassle, safer, and quicker.  Whichever you decide, remember the following.

1. Polish Up

When I say polish up, I necessarily mean the watch itself. (Some vintage watches should never be polished.)

Sure, you might want to clean and service your watch before you sell it, but you should also refine your selling technique.  Research the watch market and learn about what collectors want to hear. What’s important to them in a watch? How do retailers sell your watch to their audience?

Then, make sure you create an accurate description of your watch. Detail any wear and tear you’d expect to know about if you were the buyer. 

Photos of your watch are also important. Make sure they are clear. A blurry photo won’t sell a watch. Potential buyers will air on the side of caution if they can’t see its conditions clearly.  

2. Be Honest  

As I mentioned, being transparent when selling a luxury watch is key to completing a successful sale. Buying a watch is no small thing for a collector. 

He must know all its qualities and flaws, including any damage to the strap or case back. Again, this is where photos are key to representing your watch in an honest light.  

3. Emphasize Authenticity 

One thing you really do want your buyer to know is that your watch is the real deal. Demonstrate the authenticity of your watch through photos of the movement and by providing paperwork.  

Your proof of purchase is the best way to enhance the credibility of the watch and you as the seller. 

4. Prepare To Negotiate 

If you’re like me you don’t like to haggle. However, sometimes negotiating on price is the only way to get a sale. 

Be open to responsible offers, as you would expect others to be if you were the buyer. Have in mind the lowest price you’d happily drop down to, just in case someone tries to negotiate.

5. Sell Safely

If you’re meeting with a buyer in person, make sure you choose a safe environment. Public locations are safer than quieter places. It not only ensures your safety but enables the buyer to make a firm decision upon viewing the watch.  

How To Sell Luxury Watches Online  

There are many reasons you might be researching how to sell luxury watches online. You may have explored the market and realized your watch value has increased. This can happen when a brand discontinues your model or releases a newer one.  

Likewise, you may want to sell your watch to acquire another model on your wish list. Either way, there are some things to think about.  

The go-to places for selling your watch online are those such as marketplaces and online retailers. It gives the buyer the advantage of accessibility anywhere in the world and the chance to compare like-for-like prices.  

There’s a multitude of online watch dealers to choose from. Understandably, those with a solid reputation are more reliable. 

Some of the best include Exquisite Timepieces, Watchbox, Chrono24, Hodinkee, eBay, Crown & Calibre, and Bob’s Watches. Other places include Facebook, Marketplace, and Craigslist.  

Why Luxury Watches Are a Good Investment

Luxury watches are liquid assets that can turn back into cash when you need it the most. They make for great investments to hand down the family line, plus you can wear them daily, too. 

You can hold onto a luxury watch for many years and watch it grow in value. When the time comes to sell, you can often make a good return. The key to turning watch collecting into a lucrative business is to know when to buy and when to sell.

Monitoring market trends can indicate when it’s the best time to sell your watch. You can keep an eye on your particular model and watch what it sells for on other platforms.

When you see the value of your watch increase on the pre-owned marketplace, it’s typically a good time to sell.

Keep in mind, however, that you can wait too long. If you keep holding on to your watch to maximize profit, you can miss its peak. The key rule to follow to guarantee a profit is to put your watch on the market the moment it rises in value.

Luxury watches aren’t just a style accessory, they’re a serious investment. Collectors will pay a good price for a watch that is high in demand. If you happen to own a rare or discontinued model, your luxury watch is likely to become a good investment.

FAQs

Let’s take a look at some frequently asked questions about selling luxury watches.

What’s the Best Way To Sell an Expensive Watch?

The safest way to sell an expensive watch is to go through a pre-owned watch retailer. They can make your selling experience safe, quick, and seamless.

How Much Do Luxury Watch Resellers Make?

The amount of money someone can make from re-selling a watch depends on the model and its condition. Some iconic vintage watches sell for extortionate prices, while others offer collectors an affordable alternative to buying from new.

The Takeaway  

Today, the huge array of online watch dealers has made selling your luxury watch online super easy. That said, some still prefer to buy and sell in person or at auction houses. 

Luxury watch dealers are a popular way to sell a watch. You can trust their reputation, and they provide a seamless service from start to finish.  

If you’re looking to take up watch collecting as a hobby, you’ll soon become a pro at how to sell luxury watches. The hobby is a lucrative one. It can earn you thousands of dollars at a time, provided you know when and where to sell.

Do you have any top tips on how to sell luxury watches? Share your advice in the comments below. We’d love to hear about your buying and selling experience.