Are you hoping to sell or trade your watch? If so, you may wonder, ‘How much is my luxury watch worth?’ Before you sell your luxury watch or decide to trade it, it’s important to understand what determines its value. You may also find our guide on the differences between selling vs. trading a luxury watch helpful. This information will ensure you get fair pricing.
However, there are several factors to consider when determining your watch’s value, including the current market, its condition, and the authenticity of its parts. With this in mind, evaluating your watch can be difficult, but this article will provide information that will guide you in the right direction.
What You Need for an Accurate Watch Valuation
Watch owners will need to reference several resources to ensure they find the accurate value for their timepiece. These include:
- Box and Papers: If you still have your watch’s box and papers, you’re in luck. They should have everything you need to identify your watch. These elements also attest to your watch’s authenticity and can help you get more value if you choose to trade your watch or sell it.
- The Brand and Reference Number: If you don’t have your watch brand or reference number, you may be able to look them up online, or they may be engraved in the case. These engravings can be hard to find, so look carefully or ask a professional for assistance. You can also learn how to decode your watch with our watch reference number guide.
- An Archive Extract: This document may be used for watches that don’t have serial numbers. It provides basic information on the watch, including the model, production date, and reference number. You can get one from your watch manufacturer. Some brands charge for this service, and it may take a while to receive it.
The Best Sources for a Watch Valuation
Once you have your information together, you can begin the watch appraisal process. There are various sources you can use to determine your watch’s value, including the following:
- Online Appraisal Services and Valuation Platforms: There are various free and paid platforms that you can use to appraise your watch. With free platforms, you typically enter your watch information, and they compare it to online listings to find an average price. A premium service will request a photo of your watch and perform a more thorough evaluation.
- Marketplaces: You may look at marketplaces like eBay to see how other sellers are pricing your watch. However, various factors can affect seller pricing, including condition and how badly they need cash.
- An Authorized Dealer: An appraisal from an authorized dealer, like Precision Watches, may be your best bet. The dealer will have industry knowledge of your watch and factor in details like condition to ensure an accurate appraisal.
Factors That May Impact Your Luxury Watch Appraisal
Suppose you have done research on your watch and are expecting a specific valuation. Then, when you get your watch appraised, you find it is much more or much less than you expected. Various factors can cause a price change, including the following:
- Condition: The condition of your watch majorly contributes to its value. If your watch is scratched, damaged, or even dirty, it can lower the price. Do your best to clean your watch and make any necessary minor repairs before you sell or trade it for optimal value.
- Market Trends: Your watch can surge in value if there is an increased demand for the watch type, such as a diver watch or racing watch, or if a celebrity has been recently seen wearing it. If your watch experienced a favorable trend, try to sell immediately to take advantage of higher valuations.
- Authenticity: You may be thinking, “My watch is authentic. So what’s the big deal?” Well, authenticity goes beyond the watch itself. Buyers will also want to know whether repairs were made by an authorized dealer to ensure authentic parts. Therefore, it’s wise to include all service records when you sell.
- Boxes and Paperwork: These components further prove the watch’s authenticity and may help your watch sell for more money. Some sources state you can get 5-10% more if you sell your watch with these items.
- Other Factors: Watches tend to receive higher valuations if they are made by a reliable brand, such as Omega watches, Tudor watches, or Longines watches, if they are rare or limited edition, contain precious materials, and offer excellent craftsmanship in movement, features, and complications.
Have Your Watch Appraised at Precision Watches
Are you ready to sell your watch or trade in an older model? Precision Watches is the optimal destination.
We will begin with a watch appraisal. Our deep industry knowledge ensures a fair evaluation. Then you can sell your watch to us directly or trade it for another model from our wide selection of new watches and pre-owned watches.
Appraisals, trades, and sales can be completed in person at our Lower Gwynedd showroom or online through an easy 3-step process.
We also provide authorized watch repairs to ensure your purchase withstands the test of time. Contact us for all your watch buying, selling, and maintenance needs.
FAQs
Is it necessary to get a professional appraisal for my watch?
Although a self-appraisal can be helpful, professional services are recommended. A professional will consider all factors, including condition and market trends, to provide a more accurate valuation.
What should a formal appraisal include?
A formal appraisal should include a full condition assessment, verification of reference/model number, movement type and complications, an evaluation of the original box and papers, comparable market pricing, and the current replacement value.
What’s the difference between retail, market, and trade value?
Retail value refers to the price vendors charge in stores. Market value reflects the prices watches typically sell for in private or secondary-market transactions. Trade value is the amount a dealer is willing to offer when you trade your watch toward another purchase, which is usually lower than full market value.
How does watch condition affect valuation?
Damage such as scratches, dents, and fading lume can lower your watch’s valuation. Polish history is another factor, as factory finishes tend to command higher prices than overly polished cases.
Can watch values fluctuate over time?
Yes, watch values can fluctuate over time due to condition, market demand, and rarity. Some models experience modest changes, while others, especially limited or highly sought-after references, can rise or fall significantly in value depending on collector interest and broader economic conditions.
