At Precision Watches, we get a lot of questions about selling inherited watches. People often want to know how much a watch is worth, how to prepare it for sale, and how to get the best possible value. Others are unsure whether they should sell at all, especially when sentimental value is involved.
Deciding what to do with an inherited watch can be as emotional as it is practical. If the watch comes from a major luxury watch brand, the selling process and market demand can vary significantly. For example, our guides on how to sell a Patek Philippe watch and how to sell a Vacheron Constantin watch explain what typically affects value, demand, and timing for each brand.
This article walks you through the key factors to consider when selling an inherited watch and outlines how to prepare it for sale if you decide to move forward.
Should I Sell My Inherited Watch?
There are various factors to consider when deciding to sell. Here are some to consider.
Your Financial Situation
Do you need to sell the watch to get out of a financial rut? If so, find out how much the watch is worth. Will selling it help out significantly? And if you’re reluctant to sell, is there anything else you can do to improve your situation?
Sentimental Value
In some instances, watches hold sentimental value. You may remember seeing your inherited watch on a loved one’s wrist during special moments. Or perhaps you stared at the watch in your grandparents’ jewelry case as they told you it would someday be yours. These watches are difficult to part with.
With other situations, you may have inherited watches from someone you barely knew or didn’t particularly like. These watches are easier to sell.
Personal Taste/ Lifestyle
You should also consider whether you’ll actually wear the watch. Maybe it’s too big or doesn’t suit your taste. Perhaps you’re not really a watch wearer.
If the watch is just going to sit in your home and gather dust, you may be better off selling it.
Talk to Relatives
The inherited watch may not appeal to you or have sentimental value, but it could be meaningful for a relative. They may be upset if you sell it.
For example, if you got a watch from your aunt that you’re not crazy about, you may want to ask your cousin if it will mean more to them, especially if you’re not looking to sell it because you need the money.
Preparing the Watch for Sale
So, you’ve considered all the factors and decided to sell your luxury watch. Now you need to get it ready for the sale. Here are some helpful hints.
Get an Inherited Watch Appraisal
A watch appraisal will tell you what your watch is worth, helping you make an informed decision before selling. If you’re unsure how value is determined, our guide on how much your watch is worth explains the factors that typically influence pricing. Most authorized dealers won’t offer full market value, as they need to account for resale margins. Understanding your options can help you move forward with confidence.
Get Your Watch in Shape
Cleaning and small repairs can help you get more value out of your watch. However, be careful not diminish any of its valuable elements. Polishing or buffing can destroy the patina and reduce value, as can replacing components with non-authentic parts. When work is necessary, professional watch polishing performed by experienced watchmakers helps ensure the watch is handled carefully and appropriately.
Gather Everything It Came With
If you have the original box, warranty card or certificate, receipt, invoice, service records, and extra links, straps, tags, and bezel protectors, you may be able to get more for your watch. These components also back the watch’s authenticity.
Determine Your Selling Method
Selling methods can vary. Your choices include:
- An Online Marketplace: Selling directly to the public can sometimes result in higher offers, since buyers aren’t factoring in resale margins. However, the process often requires more time and effort. Sellers may encounter low offers, extended timelines, or added risk, and online platforms can expose sellers to scams or disputes if precautions aren’t taken.
- An Authorized Dealer: Working with an authorized dealer offers a straightforward, low-stress experience. You can submit photos of your watch, receive a clear offer, and get paid promptly if you decide to move forward. Reputable dealers understand market values and focus on fair, transparent pricing.
Sell Your Watch at Precision Watches
Precision Watches is a recommended dealer for watch sales. We offer an easy process, and our reputation as an authorized dealer and knowledge of the luxury watch industry ensure fair prices. Simply:
- Fill out the short form on our website and submit it along with pictures of your watch.
- If approved, we will provide a free, fully insured overnight shipping label so you can ship your watch to our location.
- Once we receive the watch, we will send you a payment the same day via bank transfer, PayPal, or check.
For those who want guidance beyond the initial sale decision, we also offer watch trade-ins and a wide selection of new and used luxury watches. Our authorized watch repairs will support you throughout your watch ownership. You’re welcome to visit us online or stop by our showroom in Lower Gwynedd if you prefer to speak with someone in person.
FAQs
Will I owe taxes if I sell my inherited watch?
You may owe taxes if you sell your inherited watch. It depends on where you live and what you sell it for. If you sell the watch close to what it was appraised for, or its value at the time of death, you won’t pay much on the profits.
What if I’m emotionally attached and also need money?
If your financial needs are not dire, consider keeping your watch for a while before selling it. Grief may make you want to offload it quickly, a decision you may later regret. Consider selling another, less meaningful, inherited item for cash instead.
How do I avoid getting lowballed or scammed?
You can avoid getting lowballed or scammed when selling your watch by getting multiple offers, selling to a reputable dealer based on reviews, and being wary of anyone who pressures you to sell, refuses to give you a written offer, or wants you to ship without clear insurance or tracking.
Do the original box and papers really matter?
Yes, the original box and papers, such as a warranty card, receipt, and service records, can substantially increase value, especially for luxury brands.
