In recent years, there’s been a surge in wearable tech and smartwatches with the likes of Apple Watch, Samsung Gear, Fitbit, and so on flooding the market. Although these may be trendy items, for now, they a...
How much is my watch worth?March 23, 2017 - Watch Articles
High-end wristwatches are the ultimate expression of luxury and artistry. Combining complex mechanisms with sophisticated designs, luxury watches such as Rolex and Patek Philippe are internationally recognized status symbols.
So how much is my watch really worth? While all pre owned watches can be appreciated for their combination of craftsmanship and technical skill, their individual resale values vary greatly.
‘What is my watch worth?’ may seem like a simple and straightforward question, but there are a number of different factors that are taken into account when assessing the value of a watch. The value of your watch is based on the following factors:
Factors that will affect how much your watch is worth
Luxury branded watches inherently hold greater value than watches from non-luxury brands. Aside from more expensive materials being used to produce luxury watches, the prestige of the brand name alone also adds value. This is especially true if the brand is particularly popular at the time and place of selling, which is subject to change. However, some luxury watch brand names are consistently popular such as: Rolex, Patek Philippe, Cartier and Omega, to name a few.
2. Box and papers
Having the original documentation for your watch, including the box and papers is extremely helpful in determining the value of your watch. The box and papers alone add between 20%-50% to the second-hand price of your watch as they provide proof that your watch is authentic.
3. Model and Limited edition Pieces
Certain watch models are more sought after than others, regardless of the original selling price. It depends on what is in demand and what the current watch market trends are. At WP Diamonds, our luxury watch experts are constantly analyzing the secondhand watch market to determine both how specific brands and models are performing.
Limited edition watches typically have a higher secondhand value as rare items fetch higher selling prices. Identifying any special or unusual features will help assess the worth of your preowned watch and whether it is a collectible item or not.
4. Condition of the watch
- Is your timepiece in good working condition?
- Is there any damage or are there any missing parts?
- Has the watch been altered with aftermarket parts?
The resale value of your watch will be considerably higher if it has been kept in a good and working condition and has non non-original parts. If your watch has been regularly serviced, this will help to keep the value of the watch at a higher price as it is something watch collectors look for.
Is your timepiece an antique or vintage watch? Just because a watch is old, does not mean that it is necessarily rare or that it holds much value. If your timepiece was part of a small batch of watches made, the value is more likely to be higher.
However, this is still dependent on whether your watch is in working condition and what the repair costs would be. An older, luxury watch may hold more value if there is a limited number of these watches remaining.
Tip: Make sure to include good quality photos when selling your watch as this will help you sell the watch and receive an accurate initial price quote.
What is my watch really worth?
The value of your watch is specific to your particular timepiece, so although this may help as a guide, the only way to obtain a more exact estimation is by consulting a specialist watch buyer.
At WP Diamonds, we can offer you a competitive price for your preowned watch. WP Diamonds is a BBB accredited business with an A+ rating and over a thousand of online reviews, ensuring you are in safe hands.
With a safe and fast transaction, you will receive the full amount that you are quoted with no hidden costs or fees. We buy your watch directly and the entire process can take as little as 24 hours. Sell online or in person today, simply click the button below to receive your price quote today.