Similar to cars and houses, luxury watches are a big-ticket item that is difficult for consumers to replace. When it comes time to sell your watch, there are a variety of places you can go to get top dollar.
These include pawn shops, vintage consignment stores, and auction houses. However, these options can be risky and offer less than the true value of your luxury watch.
Shops
Despite the growth of online marketplaces, there are still plenty of opportunities to sell your watches in shops. The key is to work with a buyer that understands and appreciates luxury watches. The wrong buyer could end up flogging your watch for less than its true value. Leaving out crucial information, using low-quality photos, or advertising your watch to the wrong audience can also result in your watch not selling at all.
Fortunately, there are plenty of quality watch buyers around, especially in larger cities. Many of these buyers offer consignment and buy-out options, which can help you get the most out of your watch sale. To find a reliable watch buyer, look for one that has a positive reputation in the industry and is transparent about their buying process.
For example, the reputable fine jewelry retailer Tourneau is one of the world’s largest watch and jewellery buyers. They’re known for their quick and easy buying process, which starts with filling out an online form and ends with you shipping your watch to them free of charge. In addition, they have a dedicated team of experts who can authenticate your watch and determine its value.
Another option is to sell your watch at a local luxury consignment shop. These stores typically have a wide variety of luxury brands and are willing to pay fair market value for your watch. They can also provide a valuable marketing platform for your watch as they’ll be seen by a large audience of potential buyers.
You can also try to sell your watch through a local consignment service like Chronext or WatchBox, which have a dedicated audience of people interested in luxury watches. However, these services may take a cut of your proceeds.
Finally, you can always try to sell your watch through an auction site. These sites usually have a global audience of potential buyers and can offer a high amount of money for your watch. However, you should be aware that you may have some issues after the auction is over if your watch is damaged or stolen.
Online Retailers
As with other expensive items, watches are a popular target for online selling. Buyers can connect with sellers via a number of websites that specialize in luxury watches and offer payment through check, store credit or direct deposit. These sites often require that the watch be authenticated and are a great option for sellers who want to connect with buyers worldwide. Some examples include Big Watch Buyers, The RealReal and Luriya.
Some of these sites will also sell your watch on a consignment basis, meaning they’ll handle the sales process for you. This may allow you to receive a higher sales price as you’re not handling the entire transaction yourself.
Selling your watch directly to a dealer can be the fastest and most straightforward way to get cash for a timepiece. You can do this through a brick-and-mortar jewelry or watch shop that specializes in your specific brand of watch, or an online dealer like NY Watch Lab, Crown and Caliber or WatchBox. These dealers have a deep understanding of the secondary market and regularly review sales and listing data to keep on top of current prices.
Another selling option is an auction site, although this type of selling is more suited for a rare and unique watch. Auction houses such as Christie’s and Sotheby’s have deep connections with luxury brands and can help sell a high-ticket watch at a fair price, but they usually only accept watches that have a good amount of resale value.
Local marketplaces are also a great place to sell your watch. You can use sites like eBay or Craigslist to find buyers who are interested in your particular watch and negotiate a price with them. These methods can take a while and are not ideal for more valuable watches, however.
One popular local selling option is Facebook Marketplace, which allows users to list their items for sale and connect with potential buyers. This is a quick and easy way to get cash for your watch, but you will likely be offered less than the watch’s true value. Alternatively, you can try a site that specializes in buying used and pre-owned luxury watches, such as Chronext. These companies have a global network of luxury retailers, manufacturers and collectors and can provide you with an accurate valuation of your watch based on their experience and pricing information.
Auctions
Online marketplaces like eBay and Amazon have a profound reach and can connect you with potential buyers from around the world. They also charge a fee to sellers. However, selling watches on these platforms can be tricky since there is no guarantee when your watch will sell or to whom. iChrono recommends that you use these websites with caution and only to sell timepieces you are confident in. Always take the time to take quality photos of your watch as this can help it sell. Make sure to adjust the light when necessary and ask for a friend’s help to photograph your watch if needed. Using a high-quality lens and focusing on its best features will help it look its best. Lastly, always meet your buyers in a public space and never share banking details with them.
Resale shops are another option for selling your luxury watch. Many of these stores specialize in buying used watches and will give you a quick quote on the watch. The process of assessing the watch is typically very fast and you will be offered money for your watch within days of submitting it to them. They will often offer you a check in the mail or wired your money to your account.
If you prefer a more traditional approach, auction houses can be a good choice. These institutions have a reputation for excellence and carry a lot of prestige. They are often able to fetch high prices for watches, particularly vintage or rare pieces. However, auctions can be very long and there is no guarantee that your watch will sell until the hammer drops.
Auction houses will usually charge a buyer’s premium which is deducted from the sale price. This can be as much as 20% and can significantly lower the amount of money that you will receive from the sale.
If you are unsure of how much your watch is worth, a reputable pre-owned watch retailer such as SwissWatchExpo will be able to provide you with a free initial quote. They will base their assessment on the condition of your watch, comparable sales, and other market data.
Consignment
If you want to sell a watch for cash and don’t care about getting top dollar, a consignment shop may be the best option. A consignment service acts as an intermediary between you and a buyer, taking a cut of the selling price. They usually offer a quicker turnaround than a traditional retail store or online reseller, but you should do your research to find the right company for your needs. Be sure to get quotes from multiple places and read online reviews before choosing one.
Pawn shops are popular places to sell watches for cash, and they can often offer a fair price depending on the brand and condition of the watch. However, they are not a great choice for watches of significant value, as they will likely only pay you a fraction of the watch’s actual value. You are better off using an online marketplace or a specialist seller to maximize the sale price of your watch.
Regardless of where you decide to sell your watch, make sure to bring any original boxes, papers, and other documentation with it. These can increase the watch’s resale value by up to 25-25%. Also, be sure to have your watch regularly serviced and cleaned to keep it in good working order.
If you have an extremely rare or valuable watch, it may be worth selling it through an auction house. This can be a time-consuming process, but it can also help you to find the highest possible sale price for your watch.
Online marketplaces like eBay and Facebook Marketplace are a great place to sell used luxury watches because they can reach a large audience of potential buyers. However, be careful to provide accurate information in your listing and take clear photos of your watch. If you do not, it could take a long time to find a buyer and your watch may be sold for less than its true value.
If you have a more common or standard luxury watch, it can be easier to sell it at a pawn shop or through an online marketplace. But if you have an expensive watch that is in excellent condition, it may be worth selling through an auction house or a reputable online retailer like Worthy.
