Today you will find a number of shops, physical as well as online, that buy used watches. You can sell your used watch and get the deserving price for it instead of throwing it away or let in collect dust in the drawer. To ensure that you find the most reliable store and make the best deal you will need to know this pre-owned watch market, its statistics, and working process before you jump into any conclusion or go ahead with the selling process.
These pre-owned watch buyers have highly qualified employees, full-time and bonded Swiss-trained repair specialists and knowledgeable evaluators that will take up, analyze your watch for defects and damages and then quote an honest price. They will take up any model and brand of watches and especially look for luxury, customized and limited edition pieces for which they pay the highest price.
This market is rapidly growing. According to an article published in the United’s in-flight Rhapsody magazine, this market saw a steep 300% rise in sales last year and few shops even bought more than 4000 models at a time. Therefore, now that you know that there is someone looking for your watch, it is unwise not to sell it for a fair price.
The authenticity factor
When it comes to selling a used watch you may be naturally worried about the authenticity of the shop, the offer, and several other matters. However, there is no reason for such worries as you will always get an honest and transparent quote, provided you choose a reliable store.
- The shop will make sure that your watch goes through several quality inspection processes. Few shops even have a strategic and meticulous 45 point inspection process. This ensures whether or not your watch needs any repair or cleaning.
- They will then photograph the piece professionally and list it for sale on different or a dedicated website online such as chronostore.com. Alongside the image, they will a detailed description of the piece including any alterations required in it.
Reliable and trustworthy stores will not buy or sell any watches that have fake parts in it. They will not accessorize or swap the parts from your watch on another watch. They will only deal with genuine models and will never change the standard for any model. They will make sure that the parts, the hands, the casing, and the movements are all original.
The service process
Apart from the guarantee for the originality of the watches, these shops will also provide the best customer support and satisfaction. As a part of their ethical business policy, they will often offer a full return satisfaction warranty usually for a year to the buyers. As for the sellers, they will offer the best price after conducting their lengthy and effective inspection process. Therefore, both the buyers as well as the sellers will gain from these shops.
They are more popular and favored over the retail shops due to several reasons:
- They take up any good brand and model of watches and even less demanded watches
- They offer the highest and fairest value for your watch when you sell and charge an honest price when you buy it from them
- They offer substantial savings
- They have a simple buying and selling process
- They will provide a warranty on each product as well.
Therefore, it is easy to figure out why these pre-owned watch shops are so appealing to the buyers and sellers alike.
More Compelling Appeal To Sellers
It is true that these pre-owned watch shops appeal to both buyers and sellers, but the appeal to the sellers is much more compelling as compared to the buyers. Therefore, the footfall or number of clicks of the sellers is much more in these shops. This is primarily due to the reason that the sellers are looking to make money and not only to save some. Most of these shops do not have any competitors as far as buying is concerned and therefore they focus more on the sellers.
- Another reason for the sellers preferring these shops more is the fact that they get a better offer from them as compared to auctions. If your watch is not a one-off, the going to a pre-owned watch shop will make more sense than going for an auction. In auctions, you will have to pay over 30% as a buyer or seller fee but in these shops, you will get to sell your watch ‘as is.’ According to the potential, you will have full value added to your piece.
- Apart from that, you do not even have to pay any fee for the multiple point inspection processes, taking out the scratches, clean and polishing it, tuning the movement, and for other services that will add value to your watch.
Lastly, it is the simplified process that the sellers are more attracted to these shops.
- You simply have to visit the website of the company you have chosen and click on ‘Sell My Watch’.
- You will get a form to fill up the brand, model, and details of your watch and you will get an estimated valuation.
- Valuation of used watches is done based on more than 100,000 data points in their database to make the estimation foolproof and precise.
- Once you are okay with the price the company will send you a FedEx box and do the evaluation and list it.
Reliable stores will sell more than 90% of the listed watches within 60 days.
Choose the right shop
Reiterating the first line of this article, there are a huge number of such shops today and adding to it that all are not created equal or function in the same way. Therefore, choosing the right shop is necessary.
Check for their email list of subscribers preferably worldwide who may have opted for their service voluntarily. You will be able to see new watch listings. Look for the number of trade-ins and how much premium was offered on these over the sales price of any new purchases.