We Buy Watches – 5 Things That We Look Out For When Buying A Watch
March 22, 2022How to Sell Your Luxury Watch Without Being Swindled
Let’s face it.
We live in a gorgeous country, but the crime in South Africa is a little bit out of control. Wouldn’t you agree?
So if you are interested in selling your precious timepiece, you need to make sure that your potential buyer is legitimate.
Your watch is an investment, and you don't want to have someone either pay you too little for it or worse, steal your watch and not pay you at all.
So if you are thinking that it's time to sell your luxury timepiece, this article is for you.
In it, we will discuss various ways to sell your watch, how to keep safe during an exchange, and how to get the best price for your watch.
First, consider the value of your watch
Before you choose to sell your watch, there are a few things that you should consider. If you aren't sure of the value of your timepiece, you could ask a watch expert for an evaluation, this would be an easy way to establish a realistic sales value.
Think of the following too:
- Do some online research to establish the value of your watch.
- Find out what the aftermarket prices for watches are, this can give you realistic expectations.
- Notice if your watch has any scratches or if it has been damaged in any way, this will affect the amount of money that you will receive for your watch.
Where to sell your watch?
There are various places where you can sell your watch, but remember that not all of these places will offer you the highest price and not all “buyers” are safe.
Pawn Shops
If you are thinking of pawning your watch at your local pawn shop, think again.Do not do this.
Very often, you might feel that this is a safe bet because you know they will pay for your watch and that they are legitimate buyers.BUT in reality, you will probably be offered next to nothing; leaving you with very little money in your pocket. Remember if you have a collection of luxury watches such as Rolex, or Breitling you don't want to undersell.
You paid a lot of money for that watch, and pawing it off would be a sin. There are better options and buyers out there who would pay you competitive and fair prices. (Which we will discuss further on in the article.)
Facebook MarketPlace
Okay, so if pawn shops are not the best idea, you might be thinking that selling on Facebook would be a better idea.Why?
Well perhaps you're hoping to get a fair price, but if you do decide to do this, you need to be really careful that you aren't selling to a fraud.Facebook can be a den of thieves if you don't have the expertise to suss out the legitimate watch buyers from the fakes.
An expert who deals in the sales of watches knows how to separate the fakes from the real deals. So selling your watch on Facebook could be a dangerous option.
If you do decide to sell your watch on Facebook, here are some tips:
- Always meet the buyer in a public area, no matter how friendly or legitimate the person seems. This could be at a mall or even a bank where you could do the exchange.
- Never hand the watch over to the buyer before having the money reflect immediately in your account. If you can transfer the amount to a different account ASAP, so that the transaction can’t be reversed.
- If you feel safer, don’t handle the transaction on your own, but rather take a watch expert with you.
Go to a consignment shop
“Consignment shops typically operate in one of two ways: Either they purchase an item from a seller and then resell it themselves at a markup, or they accept an item for consignment and then pay the original seller a percentage of the sales price if and when the item sells.”
The only problem with this is that it may take some time before your watch sells and it would be a wise idea to have it insured. Because if it isn't and the store gets robbed, there goes your investment.
Plus, once again, you might not be getting the best purchase offers from consignment shops.
Your best bet would be the following
If you want the best price for your luxury watch, speaking to an expert watch dealer would be your best bet. There are various businesses in South Africa that do just this. These experts buy and sell luxury pre-owned timepieces on a daily basis. Besides offering expert advice, many of them also offer a fair price for your beloved investment.For example, Lugardi is the watch expert in Pretoria, with 7 years of experience in the buying and selling of pre-owned luxury watches.
We pride ourselves in sourcing only the best timepieces, whether it’s a Rolex or a Patek Philippe, you can be sure of authenticity.
We want our customers to have only the best, this is why we are very careful with our sourcing process.We carefully inspect each watch that we look for, from origin to transfer of ownership.
After all, buying and selling watches from some of the most renowned “watchmaking artists” requires a certain finesse.
Sell your watch today
If you are thinking about selling your fine watches, contact Lurgardi today for the best advice and competitive prices.
