Top Factors To Get the Most From Your Second-hand Watch
Top Factors To Get the Most Value From Your Second-hand Watch & Jewelry
Watches can depreciate and appreciate at surprisingly different rates and, unlike a vehicle with a blue book listing price, it can be complicated to determine a value for your pre-owned watch. If you’re contemplating the sale of your pre-owned jewelry or luxury watch, take a moment to understand the factors that provide the most second-hand value. To set you up for success, we’ve outlined the top factors that will help educate you on how to obtain the most value for pieces in your collection. Awareness of the factors that play a role in determining the value of a luxury watch, will help you sell your watch more comfortably.
Original box and Paperwork
To get started you’ll want to gather the materials that originally came with your watch, such as the original box & paperwork. If you’ve kept the original box and paperwork in good condition, you’re at an advantage in determining credibility and add about 20-50% to the second-hand price of your watch. The box and papers are proof of authenticity.
Identify Brand and Serial Number
Certain watch models are more desired than others. Knowing the brand and serial number will help to identify how unique and rare your watch is as well as determine if there is a trend or a special factor to your piece that can add value. Many luxury watches will have an engraving with serial numbers that will match your paperwork.
Condition
Has your watch been serviced regularly and is it in good working condition? Servicing your watch regularly will keep it in better working condition that can also contribute to value. If your watch has had any after-market alterations, these can take away from the value. Typically, adding diamonds or alterations takes away from the price unless it was owned by a celebrity. The resale value of your watch will be more favorable if the patina, dial, and crystal were kept in good and working condition. These factors can range from poor to excellent condition.
What about pre-owned jewelry?
If you’re considering selling your pre-owned jewelry, it is important to understand the factors that contribute to your jewelry’s worth before contacting a buyer. Generally, when you sell pre-owned fine jewelry, you can expect to receive 20 to 50% of the original purchasing price. When luxury retail stores sell fine jewelry, they must mark up the prices to make a profit, as with all businesses. The markup for new luxury jewelry is around 250% to 300%. This can be even higher for engagement rings. The price you pay for new luxury jewelry will be significantly higher than the jewelry’s actual value. Second-hand jewelry is simply considered less valuable than new jewelry in the eyes of buyers. Just like buying a new car, the value of jewelry drops the moment you leave the store.
Brand
Rare high-end brands like Tiffany & Co., Cartier watches, and Van Cleef & Arpels can provide more value especially if they are in excellent condition with the original box and paperwork.
Raw Materials
Raw materials will have an impact on the resale value of your pre-owned fine jewelry. An appraiser will evaluate the precious metals and quality of gemstones including carat weight. The gemstone quality and carat weight can have an impressive impact on the resale value of diamond jewelry.
Where is the best place to sell my luxury watch and fine jewelry?
To get an accurate quote for your luxury watch or fine jewelry, you’ll want to work with a luxury watch or jewelry specialist. WatchMaxx is an A+ BBB accredited online buyer with online reviews and testimonials. We purchase a wide variety of luxury items from Rolex watches to Tiffany & Co. engagement rings. With a quick and safe transaction, you’ll receive the full amount that you are quoted with no hidden costs or fees. We are happy to purchase your watch directly or offer a trade-in value if you are interested in using the value toward a new luxury watch. Sell your watch online today, use our form for a quick estimate, typically within 1-3 business days.