Over time, your taste in watches may change. After owning a watch for a long time, you might be interested in selling it. To do so, you must first understand how to sell a pre-owned watch correctly.
Luxury watches, even second hand ones, still hold significant value. Pre-owned luxury watches can be sold for impressive prices.
However, to sell your watch effectively, there are a few things you need to prepare. Check out the information below.
How to Sell Pre-Owned Luxury Watches
To ensure you sell your luxury watch for the right price and in the best way, prepare the following key things. Here’s how you can sell a pre-owned luxury watch effectively:
1. Research about the watch
Before selling, make sure to research the watch you want to sell. Even if it has been part of your collection for a long time, it’s important to gather accurate information.
Make sure there are no mistakes in the details when you put it up for sale. Take note of the watch’s reference number, specifications, and release year.
You can also check the market price for similar models. This price can serve as a reference for setting your selling price.
Read more: 5 Tips for Maintaining Luxury Watch Value for Resale
2. Describe the watch’s condition
A pre-owned watch that you’re planning to sell should be in good condition. However, if there are any flaws, it’s important to describe them in detail.
Over time, a watch’s condition may change, such as discoloration on the dial or bezel, minor scratches on the glass, or other forms of wear. These should be communicated honestly to potential buyers.
Don’t worry if the flaws affect the selling price. Some collectors actually prefer imperfect watches, as they may find the historical value more meaningful.
3. Promote the watch
To attract buyers, you’ll need to promote the pre-owned watch you’re selling. Ensure you market it broadly to reach as many potential buyers as possible.
One of the easiest ways to do this is by using a trusted third party like Luxehouze. At Luxehouze, you can sell your pre-owned watches through several methods, which are explained below.
Read more: 5 Smart Steps to Secure Pre-owned Luxury Watches
Selling Pre-Owned Watches at Luxehouze
Luxehouze offers resale services to help watch owners sell their collections. There are several selling methods available at Luxehouze: Consignment, Direct Sell, or Trade-In.
1. Consignment at Luxehouze
In the consignment process, Luxehouze acts as a third party to help sell pre-owned watches. Watch owners only need to hand over the watch they want to sell, and Luxehouze will list it on the marketplace and promote it to potential buyers. Selling through consignment at Luxehouze is easy, and the steps are as follows:
- Contact Luxehouze via WhatsApp and request a consignment form.
- Complete the form with detailed information about the watch.
- Luxehouze will provide a price estimate within 48 hours of submission.
- Take the watch to the Luxehouze boutique in Jakarta, Surabaya, or Singapore for inspection.
- After inspection, you’ll sign the consignment agreement, and the watch will be listed in Luxehouze’s marketplace.
The proceeds from sales through Consignment will be given to the previous owner of the watch. If the watch being sold is from Audemars Piguet, Richard Mille, Patek Philippe, or Rolex, Luxehouze will charge a selling fee of 2% of the watch’s sale price.
However, if the watch being sold is from other brands, no selling fee will be charged by Luxehouze. For more detailed information about Consignment, you can find it here.
Read more: Consignment, Direct Selling, and Trade-In: What’s the Difference?
2. Direct Sell or Trade-In at Luxehouze
In addition to consignment, Luxehouze offers a Direct Sell or Trade-In option. In this case, Luxehouze will directly purchase the pre-owned watch. The process for selling through Direct Sell or Trade-In is as follows:
- Contact Luxehouze via WhatsApp and request a form for Direct Sell or Trade-In.
- Luxehouze’s Client Advisor will reach out to discuss the sale.
- Bring the watch to a Luxehouze boutique at Jakarta, Surabaya, or Singapore for inspection.
- After the inspection and approval, Luxehouze will make payment within 24 hours.
- For Trade-In, you can exchange the old watch for a new one and pay the price difference.
For more detailed information about the Direct Sell or Trade-In methods, visit the Luxehouze website here.
These are some of the ways you can try to sell a pre-owned luxury watch. To ensure a safe transaction, always sell through trusted platforms like Luxehouze.
Luxehouze offers a wide range of luxury watches from various brands like Rolex, Patek Philippe, Richard Mille, and more. All watches at Luxehouze are 100% authentic and available at the best prices. If you’re looking to buy or sell a luxury watch, visit Luxehouze now!
