You may own a luxury watch that you have never worn, or you may have worn it every single day for the past 20 years. Regardless, it will still be considered a “used watch” or a “secondhand watch”. In this article, we will break down how you can sell your used watch for cash or even upgrade it. Get answers to the 5 following watch selling questions:
HOW TO SELL A USED WATCH
Follow the steps below to sell your watch quickly and for the best price:
WHAT SHOULD I CONSIDER BEFORE SELLING MY WATCH?
Once you have decided that you would like to sell or upgrade your watch, here are some things you should consider to help with the sale:
- Box and Papers – Box papers add to the value of your used watch on the secondhand market. This is because it ensures the authenticity of your timepiece and most collectors are interested in purchasing watches that come with the box and papers.
- Model Number – All model numbers are located in the watch’s papers. However, should you have misplaced the documents, some watches also have the model number engraved on the back of the case or in-between the lugs.
- Serial Number – Never mistake this for your watch’s model number. Serial numbers are unique to your watch and can typically be found on the paperwork.
- High-quality Photos – When considering selling your watch online, it is important that you provide potential buyers with high-quality photos that clearly showcase the condition of the timepiece. Be transparent in what you are selling by including all angles of your watch, whether there may be scratches or other damage.
HOW CAN I GET THE BEST PRICE FOR MY USED WATCH?
To get the strongest offers on your watch, it is always best to work with reputable and expert watch buyers who know the market for your timepiece. But what factors will affect the price of your watch? These include:
- Brand – A reputable luxury watch brand adds to the value of your used watch. Luxury brands such as Patek Philippe, Cartier, Rolex, and Omega among others, are sought after in the market and retain their value well.
- Model and Limited Edition Pieces – Some models are more in demand in the market than others. As limited editions pieces are rare, they command higher prices at resale. At WP Diamonds, our team of watch experts is constantly analyzing the secondhand market in order to accurately price used watch.
- Box and Papers – Box and papers can add as much as 20%-50% to the secondhand price of your watch as these help authenticate your piece. However, if you can’t get hold of the box and papers, read our tips on how to sell a watch without box and papers.
- Watch Condition – This is one of the most important factors when it comes to selling a used watch. If you watch has been regularly serviced this will help add value. A watch in excellent working condition with no repair needed fetches a higher price.
- Age – Not all old watches are necessarily considered rare. What makes timepieces rare is if they were made and distributed in small batches or limited edition pieces. Regardless of age, however, working condition still remains important.
HOW CAN I SELL A BROKEN WATCH?
Believe it or not, there can still be value in a broken watch. Thanks to our connections in the industry, at WP Diamonds we can make offers on certain types of broken watches. We work on a case-by-case basis, our watch experts analyze the damage to the watch, factor in the repair costs and make a competitive cash offer. Water damage, however, is typically not something that we would be able to make an offer on.
WHICH WATCH BRANDS BEST RETAIN THEIR VALUE?
One of the best luxury watch brands for retaining their value is Rolex. However, depending on the model and demand in the secondhand market, the following brands also can retain good value:
- Patek Philippe
- Cartier
- Omega
- Piaget
- Breitling
- Chopard
- IWC
- Jaeger Le Coultre
- Tag Heuer
WHERE CAN I SELL OR UPGRADE MY USED WATCH?
While there are plenty of places where you can sell your used watch (i.e. non-specialist watch buyers, pawnshop and auction houses to name a few), WP Diamonds offers a fast, safe and convenient way to sell to watch experts. We can accurately price your watch based on the secondhand market and provide quick payment with no fees involved. We can also offer up to 20% more on your offer in store credit should you choose to upgrade your watch with one of partners.
If you are interested in receiving a price quote, follow our three easy steps:
To receive a final price, schedule an appointment or send your watch in via free, overnight and fully insured shipping to our headquarters. You will then receive a final price, typically that same day we receive it, and get paid via your choice of check or wire. The whole process is quick, safe and hassle-free. You can have money in your account in as little as 24 hours from filling out the form. Or we return your watch at no charge should you not accept the offer. Click the button below to get started.GET YOUR OFFER
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