From Rolex to Jaeger Lecoultre to Patek Philippe, luxury watches can command astronomical prices. But why is it that these watch brands come with such high prices tags? In an age of digital watches and your iph...
Best Place to Sell WatchesJanuary 10, 2018 - Watch Articles
Review of the best places to sell watches:
- Option 1: Online Specialist Luxury Watch Buyers
- Option 2: Online Auctions
- Option 3: Pawnshops
- Option 4: Auction Houses
Option 1: Online Specialist Luxury Watch Buyers
Specialized online watch buyers, such as WP Diamonds, are one of the most popular options for selling luxury watches. Find out why:
- Expertise – Specialty watch buyers employ luxury watch experts who can most accurately assess and price your watch based on secondhand market. Pricing a luxury watch is a complex process that requires an experienced luxury watch professional with the necessary technical brand and market knowledge. WP Diamond’s watch expert Tom Pozsgay explained that, “selling a luxury watch for cash is only easy when dealing with knowledgeable watch professionals who can make strong offers. This involves assessing the condition of a watch and factoring in repair costs, as well as analyzing the current market for that particular brand and model.”
- Competitive Prices – Expert luxury watch buyers will have key connections in the watch industry, allowing them to provide you with competitive offers for your timepiece. Companies with an international presence will have a significantly wider network of connections than to local buyers. The combination of their knowledge, experience and connections enable them to give you a competitive offer on your timepiece.
- Reputation – Always work with a company that is accredited by the Better Business Bureau and has positive reviews from previous customers. WP Diamonds has an A+ rating from the BBB and hundreds of positive reviews from satisfied customers.
- Safety – It is important that you feel comfortable during every step of the process when selling your luxury timepiece. If you are mailing in your watch to a specialty buyer, the process should be fully insured, trackable and free. WP Diamonds provides you with free, insured and trackable mailing when you send in your watch. Even if you decline our offer we will mail your watch back to you with all of the same safety measures for free. We also offer appointments where you can meet our experts face to face in a safe and modern environment.
- Convenient Process –WP Diamonds gives you the option of selling from the comfort of your home (free online quote followed by free, fully insured, overnight shipping) or by selling by appointment (visiting one of our offices).
- Speed of Payment – When selling with WP Diamonds, you can have the money in your account within as little as 24 hours of receiving your final offer. We offer the option of wire, check or cash (appointment only).
- There are limited locations for in person appointments. We offer appointments in New York, London, Birmingham (UK) and Hong Kong. But you always have the option of selling online.
Option 2: Online Auctions
Online auction platforms such as Craigslist and eBay are great options for selling a wide array of household items. Find out how they compare when it comes to selling luxury watches:
- Websites like eBay and Craigslist are consumer friendly platforms that are easy to navigate. Creating a listing for your watch online is more convenient than ever.
- When you sell your luxury watch online you get to set the price.
- You have no guarantee when and if your watch will sell. It can become a lengthy selling process.
- Not all consumers are comfortable buying an expensive watch from an unfamiliar seller with no record of selling watches before.
- You need to trust that the person who is buying your watch is not a scammer. Always take caution when meeting with someone in person that you have interacted with online. Never share banking details and never meet alone.
- Certain sites will take a percentage of your earnings for the watch.
Option 3: Pawnshops
A local option but with no specialized watch knowledge, which can affect your price:
- Selling to a pawnshop is a quick and local way to get cash.
- Pawnshops do not employ watch experts who can best assess the value of your watch. This often means that their offers are typically very cautious and that you are likely to undersell.
Option 4: Auction Houses
The most traditional of routes for selling luxury watches, auction houses can be a good option as long as you are comfortable with the following:
- Auction houses employ luxury watch experts who can accurately assess and price your watch based on the second hand market.
- There are various auction houses you can meet with and pick the one that offers you the best base price.
- Similarly to selling on online auctions, you have no guarantee when and if your watch will sell.
- You will need to wait for an auction to be held. The frequency varies by auction house.
- When your watch is bought, the auction house will take a percentage of your earnings. Be sure to discuss this thoroughly with any auction house you work with, so that you have a full understanding of what costs you will incur.
Best way to sell watches: Online Specialist Luxury Watch Buyers
Fast, easy and free of charge. When selling your luxury watch to WP Diamonds, you can feel confident knowing that you are working with the experts in the industry. We employ luxury watch, jewelry and diamond experts who can best evaluate your items and give you competitive prices based on the current secondhand market. Our service has earned us an A+ rating with the BBB and hundreds of positive customer reviews. Receive payment in as little as 24 hours after filling out our online form.
How to sell a luxury watch:
- Fill out our simple online form.
- We will be in touch shortly after with a price quote
- Schedule an appointment or ship you watch with our free, fully insured, overnight shipping service.
- Receive an expert valuation and final price.
- Accept your offer and receive payment in as little as 24 hours through wire or check. Or have your items shipped back to you fully insured and for free.
Click the button below to receive your price quote today or call our luxury watch experts at 646-758-0270 if you have any questions.