Beginner’s guide to selling watches
With a watch the precious metal is seldom where the value sits. Marque, reference, condition and papers set the price – and those can be a multiple of the material value.
First the reference, then the rest
Every serious watch has a reference number: the precise designation of the model, the version and the material. With many marques it sits between the strap and the case, at the top; the serial number is often at the bottom.
With those two numbers it is possible to trace which example it is and which year it comes from. That is the starting point of every determination of value – two watches that look identical can differ tenfold in price because of one letter in the reference.
What a specialist looks at
- Originality. Are the dial, hands, crown, glass and strap still from the factory? A replaced dial can halve the value.
- State of the case. Sharp, unpolished edges are worth more than a case buffed smooth. Excessive polishing removes material and with it value.
- The dial. Evenly discoloured (patina) can be sought after; water or rust marks are not.
- The movement. Does it run, and is there a service history? Service receipts are worth money.
- Completeness. Box, papers, spare links, warranty card with a stamp.
Do not have it polished before the valuation. With watches the opposite holds of what you would think: an unpolished case with marks of use often fetches more than a buffed-up one. Polishing takes material away and that is irreversible.
Box and papers – why they make so much difference
With sought-after references a complete set – watch, box, warranty card with the date and stamp, booklets – can fetch ten to twenty per cent more than the same watch without.
The reason is simple: it proves the provenance and the year, and it makes resale easier. If you no longer have it, that is no disaster – but do search the cupboard thoroughly before you come by.
Which marques hold their value
Broadly there are three groups. The marques that hold their value most strongly are the ones with a large second-hand market: Rolex, Patek Philippe, Audemars Piguet, and to a lesser degree Omega, Cartier, IWC, Jaeger-LeCoultre and Breitling.
Below them sits a broad middle group where the value depends above all on the model and the condition. And there is a category where the second-hand value is limited, however handsome the watch may be – there the precious metal of the case sets the floor.
A gold case always has a material value as its lower limit. With a steel watch from a marque nobody asks for, that lower limit can be practically absent.
- Recognising hallmarks in jewellery585, 750, 925, EPNS – an overview of the most common hallmarks and what they mean.Read on
- Beginner’s guide to diamond and the four CsCarat, cut, colour and clarity – what each term means and how heavily it counts towards the price.Read on
- Beginner’s guide to silverFrom ducats to cutlery: which alloys there are, and when silver really brings in something.Read on
Questions about beginner’s guide to selling watches
I no longer have the papers. Can I still sell?
Certainly. Papers and box raise the proceeds, but they are no condition. We assess the watch itself: the reference, the serial number, the condition and the originality of the parts. Bring whatever you do still have, even a single service receipt or the outer sleeve of the box.
Should I have my watch serviced before I sell it?
Usually not. A service often costs more than it adds in value. Leave it as it is and bring any old service receipts with you. We count a service into our offer ourselves and name that amount separately, so that you can see exactly what it costs.
Do you also buy watches that do not run?
Yes. A stopped movement pushes the price down, but with sought-after marques and references the value remains considerable. With a gold case there is a material value as a floor in any event. A standstill is moreover often a matter of dried-out oil rather than a fault.
How do I know whether my watch is genuine?
That is what our specialist looks at: the finishing of the case, the engravings, the movement, the weight and the reference and serial numbers. If there is doubt we open the watch – with your permission – in order to look at the movement, because the inside is where counterfeits give themselves away.
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