Baltimore (410) 837-0290
Washington, D.C./Chevy Chase (301) 718-4825
Northern Virginia (703) 714-9553
Go Back
Watches

What You Need to Know About Selling a Luxury Watch

Nov 30, 2020

Everything You Need to Know About Selling a Luxury Watch

There’s a certain sort of elegance that is associated with a luxury watch. History, flair, and craftsmanship – they’ve got it all. Some of our favorite watches to buy and sell are made by Rolex, Cartier, Patek Philippe, and Breitling. More than a simple accessory, a watch by one of these designers is like owning a work of wearable art. 

However, maybe you’re ready to upgrade or wearable art isn’t your thing. Here’s everything you need to know about selling a luxury watch.

When is the right time to sell your watch?

The answer is there’s no right time to sell your watch. Some sellers are looking to downgrade their watch collection or trade one luxury watch for another. Others are going through a difficult divorce or break up and wish to part from a painful physical memory. However, there are a few factors that will influence how much bang you get for your buck. 

When we’re looking at luxury watches, we immediately want to identify the make, model, year, and condition of the watch. These are important considerations because luxury watches, when serviced regularly and appropriately, often hold their value well. In some cases, their value can increase depending on its rarity and condition. If you have the watch’s original documentation and packaging, that can also help increase the resale value because it helps guarantee its authenticity. 

Ultimately, it comes down to consumer demand when determining the value of a luxury watch. The more rare, the better the watch’s condition, the more likely you are to see a greater return on your investment. 

Why watches are a good investment

Like signed jewelry, watches can retain or increase their value due to scarcity and popularity. And of course, in addition to being well-crafted, they are functional and aesthetically pleasing, which is partially why we love them! During the Covid-19 pandemic, we saw the luxury watch market explode, making it the perfect time to sell and recoup your money’s worth. Like the stock market, there will always be highs and lows, and right now, we’re in a high.

How and where to sell your luxury watch

Online

Ebay, Craigslist, and more increasingly, Facebook Marketplace are among the more familiar online commerce platforms. While you can set your price, there’s no guarantee you’ll get it. Additionally, buyers can alter the watch once they receive it then claim it was in poor condition and ask for a refund. Then you’re out your money and the value of the watch itself. If you’re going to go the online route, it’s best to do it in an established marketplace where luxury watches are the norm, not the exception.

A private buyer

Should you decide to go the route of selling to friends and family, it can be a boon in the sense that you know the transaction will likely be trustworthy. However, it can also have a downside if the buyer expects a discount based on familiarity. Sometimes, it’s just easier to go through an unbiased party. 

A local business

In recent years we’ve started to see a shift with people choosing to shop locally at small businesses. The benefit of a local business is it has built up loyalty and reputation – otherwise, it wouldn’t still be in business. Those are key to making the decision on where to sell a luxury watch as working with a trustworthy business can make the transaction easier and more seamless.  

What happens to my watch after I sell it?

Many beautiful pieces have passed through our hands over the years. While we can’t always tell you where your watch will end up, our clientele tends to be luxury watch collectors, jewelers, or wholesalers. 

What should I do now?

Make an appointment to get your watch evaluated! Having a sense of what your watch is worth is an important first step in the process of selling your luxury watch. 

At Samuelson’s, we’ve been buying, selling, and evaluating luxury watches since 1922. Our experts are trained and can make knowledgeable recommendations on the condition and value of your watch. We’d be delighted to meet with you in a private, safe, one-on-one consultation to ensure you get the fairest and best offer possible for your luxury watch. We’ll answer all your questions and more, and if you like our offer, you’ll get paid right there and then. 

Read The Latest News From Samuelson's

History of The Diamond as an Engagement Ring

Oct 4, 2021

History of The Diamond as an Engagement Ring If you’ve ever heard Beyonce’s “Single Ladies,” you’re familiar with the refrain, “If you liked it, then you shoulda put a ring on it.” But where does the idea of putting a ring on it come…

Read More

The Scoop on Precious Metals

Sep 20, 2021

Scoop on Precious Metals Just about every piece of jewelry contains a precious metal. Same goes for old coins, watches, and silverware. But what makes them “precious” exactly?  Precious metals are elemental metals that are naturally occurring…

Read More

Hand Sanitizer and Fine Jewelry

Sep 8, 2021

Hand Sanitizer and Fine Jewelry Chances are, you have hand sanitizer in your purse, pocket, or glove compartment — and with good reason! With the Covid-19 pandemic still hanging around, better safe than sorry. However, one thing most people haven’t…

Read More

All About Type IIA Diamonds

Aug 24, 2021

All About Type IIA Diamonds Most people stumble across the 4 C’s of a diamond when researching an engagement ring. After all, those play a major factor in determining a diamond’s value and cost. But some people like to take it a step further —…

Read More

Stay In Touch

Shopping Cart

Search