5 Fundamental Tips When Selling Your Pre-owned Watch to a Watch Dealer
Many people buy luxury watches because they want to sell them at a later date, if they notice there’s been an increase of their value. But even if that’s not the case with you, and you just need the money to invest in another timepiece, you still need a few good tips to run the transaction as smoothly and as profitably as possible.
1. Select your dealer carefully
Many dealers will offer you a price of up to 50% of the initial cost of the watch. However, some will take into account other factors which are still important like the rareness of your model, as well as its current market value.
Either way don’t jump to the first offer, even if it sounds too good to be true. Getting a few quotes is what will enable you to make an objective decision later.
Another thing to look out for is getting a selling price range from the dealer before actually going down to the shop. That will save you a lot of time, plus it will give you the chance to make sure that price is fair and avoid any nuisance or hidden persuasion techniques.
That being said, a good way to choose your dealer is by doing the proper research beforehand. Do a Google search, check out some forums and look at their online store. That will give you enough clues about their expertise and reputation, showing you if there are a trustworthy business partner.
For instance, try not to use Carousell for this purpose. You’ll find a lot of scammers using it and you may easily fall for their swindles. Checking their profile, reviews and comments are the best way to quickly uncover a scam artist, so don’t let your eagerness to sell cloud your judgment about their earnestness.
2. Make sure you have the original box and papers
Whether you’ve bought a new or pre-owned luxury watch, you should still have evidence that attests its condition and quality. Things like the original box, the legal papers that prove it’s not a fake, and the warranty are all responsible for creating added-value.
That’s because these are proofs of authenticity, which means the dealer will have less trouble when trying to re-sell the watch since:
- They won’t have to spend additional money verifying if the watch is legit.
- They will have a wider range of customers willing to acquire the watch.
3. Consider the possibility of a recourse
When you sign an agreement with a watch dealer, take into account the possibility of a recourse. That’s when the buyer says they’ve evaluated the clock and its mechanisms further, and they’ve noticed something wrong with it. At this point, they may give it back to you for good or advise you make some repairs.
Besides the honest mistakes, there are some cases when the dealer can send the watch back claiming deceitfully it was damaged all along, or even a replica.
If you read some of the stories online, you’ll find some very unlucky people who have sold their watches and got them in a much worse state back. Others have even gotten them back malfunctioning because they had parts removed and replaced with fake ones.
4. Give out the facts
If you want to increase the price you’re getting for the watch, or even be taken into consideration by the most reputable dealers:
- Send them the model number. That way, the dealers can do the necessary research regarding your watch and set a fair price.
- Attach good quality photos, that highlight the features of the watch from every side. Don’t send just the best features, it’s not a fashion show. Try to be honest and include pictures of possible flaws your watch might have. Transparency is always the best practice, plus now you have the chance to explain these flaws on your own territory.
- Don’t disclose the whole serial number when pitching for quotes. If you stumble upon a dishonest dealer, they may create a fake watch and use your serial number in the process. To attest the authenticity of your watch, it’s enough to include the first four digits.
5. Be wary of the condition your watch is in
A pre-owned watch is not as shiny and sparkly as a new one, but you still want it to look its best. Even if it’s not in mint condition, getting a higher price means taking care of your timepiece’s exterior.
It is more important that the crown and bezel look good. Everyone knows that the bracelet is the most predisposed to damage, stretching and dirt accumulation. Cleaning and polishing your watch will be a good idea. To prevent any further damages, it is recommended that you go to a professional to have your watch serviced.
Last but not least, make sure you have all the links on the bracelet. Don’t just remove them carelessly and forget where you put them, because they add value to your timepiece. So if you misplaced some of them, now’s the perfect time to start looking.
At the end of the day, remember to balance your options, take care of your watch and be honest with the dealers you’re doing business with. Transparency, care and communication will lead you a long way, and likely bring you a lucrative outcome.
Have you ever sold a pre-owned watch to a watch dealer? Tell us how that went in the comments below, we’re curious to know more about your experience. Besides, feel free to drop us a line if you have some other tips we haven’t mentioned here – that will help out other readers too.