Guides on purchasing used watches are much more compared to guides on selling used watches. The points below will guide you by offering some choices. You should first know what you need to do to make sure you will attain a great deal to ensure optimum profit for yourself.
Steps for Selling a Used Watch
Watch should be in Good State
You should first ensure your watch is in very good state to enable you to restore it at a small cost and still maintain the integrity of the watches.The simplest and most affordable method is giving your watch an effective exterior clean.
The easiest and cheapest way is to give your watch a good outside clean. Just use a watch polishing cloth to wipe the watch and then check for any scratches, etc.
In case you experience extensive scratch damage, check whether it is worth having the watch polished professionally at your watch dealer locally. If the damage is minimal, it might not be hard selling it in the present condition.
However, in case of severe damage, you should compare the price of polishing to what you might lose in resale valueand then decide whether you should have it polished.
Obtain Boxes and Papers of the Initial Packaging
The more you possess in regard to the initial packaging, the better price you can ask for your watch, particularly with private purchasers. It will also assist if the packaging is in good condition. Warranties are not very important as they are not useful to the new owner.
Ways of Selling a Used Watch
When selling your used watch, you normally have 4 choices:
- Private Sale
A private sale involves you meeting the other party personally. This might be a friend or relative or a person who has asked about the watch which you have advertised for selling.
You can place advertisements for used watches in classified ads either offline or online, or through your Facebook or website. It is important to be cautious when using this method as a lot of dishonest people are out there. Private sales are ideally done among relatives and friends.
- Auction Sale
Numerous popular sites exist to enable you to trade your watch in a secure manner. This is the most ideal and secure method when selling your used watch to an unfamiliar person.
There are many potential buyers; however, make sure you adhere to each guideline and be sincere about the watch you intend to list. Set a fair price and execute what you present.
- Selling to a Dealer
It is secure and simple to sell a used watch to a dealer; however, the return will be low. Watch dealers purchase the watch at a price, which is much lower, compared to a private person. This is because the dealer needs to check the watch for any repairs.
They have to attempt to sell it at the market price, manage to offer a discount and close the deal. They also need to pay the sales people commission and make a profit. Watch shops who keep selections of
previously owned watches and pawn shops are your best option for dealer sales.
- Carry out a Trade In
Many watch shops (especially like in Denmark: urebutikker) are currently venturing in the market for pre-owned watches and providing a service for trade-in. This involves you choosing a new watch you desire to buy and offer to exchange it with your old watch against the new watch’s price, to get a discount.
Trade-ins are secure and an ideal method of obtaining value from your old watch.