Deciding where to sell your pre-owned watch can be a little overwhelming and seemingly a bit of a challenge. When deliberating, you may find yourself asking the following questions: “Where can I sell my watch?”, “How will I get the right price for my watch?” and “How can I sell securely?”. We hope to shed light on these questions with some tips that will aid you in this process, making it as simple, fast and secure as possible.
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Selling Luxury Watches On EBay And Craigslist
While selling general household items on eBay and Craigslist might be seem like the clear choice, are online auction sites really the best way to sell your pre-owned watch?
Platforms such as eBay and Craigslist are user-friendly and you can upload your item’s listing in a matter of minutes. Although it might seem more hassle-free to sell directly to a member of the public, there are several drawbacks to this approach:
- Time
One of the biggest disadvantages of selling luxury watches on auction websites is how long the process can take. Unlike selling to professional watch buyers, selling on Craigslist or eBay can take weeks or months and there is no guarantee that it will sell at all.
- Lack of specialization
Luxury timepieces are craft items of true artistry. Selling luxury watches requires specialized buyers who have the expertise in dealing with this specific type of craftsmanship and an understanding of the current pre-owned watch market. When selling a luxury watch online, it is always recommended to sell to specialized buyers. This will give you a greater understanding of the value of your watch and help you receive the most competitive price for it.
Although you may be able to achieve a reasonable selling price for your item on sites such as eBay and Craigslist, selling on auction sites is a bit of a gamble, in which you are most likely to undersell. Although eBay does attract watch dealers, they will often buy items at a low cost before selling them on to other dealers with a markup.
Whereas books, clothing and other household items can sell for fair prices on websites such as eBay and Craigslist, it is more difficult to assess the value of specialized items. For example, in watch selling, there are a great number of factors that contribute to the worth of your watch. This can range from the brand to the authenticity and even a slight variation in material that alters the value of your watch. It is also dependent on the current watch climate, which requires an in-depth knowledge of watch trends. Pre-owned watches that are limited edition will also have an impact on the value.
- Trust
Auction sites often contain fake items as it is difficult for the sites to monitor what is authentic and what is not. This can leave buyers unwilling to pay high prices for luxury good, in the fear that they may not be authentic.
- Price evaluation
When selling luxury watches on general auction sites, there is a lack of comparisons to be made. Your watch could be the only one of that specific brand, model and condition, making it difficult to assess what a reasonable starting price would be and what you should be happy to walk away with. The intricacies of luxury watches require expert opinion in order to assess its true value, especially when it concerns the condition of the item.
Expert watch buyers are also aware that inexperienced watch sellers sell on these platforms and will snap up your watch for far less than it is worth.
Another concern when selling on eBay, is that payments are made through PayPal and often buyers will bid on an item and then either delay payment or not pay at all. On Craigslist, it is often a cash-in-hand face-to-face scenario, which can not only be a little inconvenient but a little uncomfortable.
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What Is My Pre-Owned Watch Worth?
Factors that affect the value of your watch include:
- The condition of your watch and whether it has been serviced regularly.
- If you have the original papers and box for your luxury watch, although not necessarily required, this adds to the value of your timepiece.
- Authenticity
Watch valuations are a complex process that require the expertise of an experienced and knowledgeable watch specialist. To ensure you receive a fair and legitimate payment for your pre-owned watch, it is imperative to deal with a BBB accredited buyer that you can trust.
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How To Get A Price For Your Luxury Watch
At WP Diamonds we ensure a secure and quick process. To receive your free estimate, simply fill out the online form (make sure to include photos of the watch) and one of our expert watch buyers will be in touch with an initial price estimate. We then send you a free and fully insured FedEx Priority Overnight shipping label for you to send your watch in to our headquarters for a final price.
The following working day you will receive your offer, and if this is accepted, we wire the money into your account. If you choose not to accept the offer, we return it to you free of charge. The entire process can take as little as two business days. If you are located in New York City, WP Diamonds can also offer you an appointment to meet with one of our watch experts to discuss your pre-owned watch in person.
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