Do you have a luxury watch you want to sell? Maybe you have not worn it for a long time and no longer need it. Or you want to upgrade to a new timepiece to suit your current lifestyle.
It is simple to sell your luxury timepiece online for the best price. And you now no longer need to worry about receiving payment when you use Escrow.com to protect you.
So how do you sell your luxury watch online?
Selling a Used Luxury Watch
To sell your pre-loved luxury watch, collect the paperwork, accessories and watch.
Do you have the following?
- Original Box
- Service Records
- Warranty
- Purchase Receipt
- Certificate of Authenticity
Having the original paperwork shows Buyers your watch is authentic and will make the sale easier. It can increase the value of your luxury watch by up to 25%.
Also, if you have extra watch bands or spare parts and accessories, add these to the sale to get the best possible price.
Selling Without the Original Paperwork
Where you only have the watch and the original paperwork is missing, you can still sell it. But it will not be worth as much money. You can ask the original Seller for a copy of the original paperwork.
If this does not work, some brands offer to issue a Certificate of Authentication or other paperwork for a fee. This can be worth looking into especially if the watch was very expensive. A few of the luxury brands that offer this service include:
- Patek Philippe
- Longines
- Omega
- Jaeger-LeCoultre
Identify the Model and Serial Numbers
The most important information you need to sell your luxury watch is its make and model number. While you may know the name of the model, it is important to identify the model number as the watchmaker may have many different editions with the same name. The model number distinguishes your watch from the rest.
You also need the serial number which identifies your watch as unique. The serial number helps you research its age and history online or on official brand databases.
Where to Find Model and Serial Numbers
When you have the original paperwork, the manufacturer records them in the documentation. Where this is missing check the watch itself. This is not always easy. Every brand puts the numbers in different places. For example:
- Cartier. Cartier engraves a four-digit number and serial number on the outside of the case back. But its reference/model starting with a W is only on the original paperwork.
- Patek Philippe. Patek Philippe engraves the model/reference and serial number on the inside of the case back. To find them, have a watchmaker remove the case back.
- Omega. Omega engraves the outside of the case back with a serial number and the model/reference number is on the inside. You can only find the model number with the case removed.
Be wary of sharing full serial numbers especially online. Why? Watch counterfeiters search the internet for authentic serial numbers to use on their fake watches.
Research the Value of Your Watch
Once you have the serial and model/reference numbers, research the internet. Find sales listings for watches of the same or similar make and model. This will give you an idea of how much your watch is worth. Take into account the condition and service history of your luxury watch when setting the price.
Take Clear Photos
Take clear photos that illustrate that capture the details of your luxury watch. Buyers want to see the condition of what interests them online.
You need to close up photos of the front, the back, and the band and buckle. Make sure any serial numbers are in the photos but blur out most of these. Where you have paperwork, the original packaging, and accessories, take photos of these. But make sure any numbers are not clear for just anyone to see.
Your photos need to be in focus and clear with good lighting. And make sure they are high resolution so people can see what you have to sell. The better you present your watch in the photos, the more interest you will have from Buyers.
Escrow.com Benefits
Protect yourself online. No longer is there a risk in not receiving payment or the Buyer receiving the goods. Escrow.com is a trusted, proven third-party company that reduces the risk of fraud. It holds payment while the watch is in transit to protect both parties.
Using Escrow.com is a low-cost solution offering a simplified sales process. It collects, holds, and only releases payment when both the Buyer and Seller are happy with the transaction. This protects and benefits both parties.
Use Escrow.com to Receive Payment
Use Escrow.com to receive payment online. This protects you and the Buyer using a simple five-step process:
- Agree on payment terms. Once your Buyer makes a decision to buy, both parties join Escrow.com. Initiate a transaction once you both agree to the terms of the sale.
- The Buyer deposits payment. The Buyer deposits payment and Escrow.com verifies it. The Seller is notified when the money is secure in escrow.
- The Seller sends the watch. With funds safely secured, the Seller sends the watch to the Buyer and adds tracking information to the account. Once delivered, Escrow.com verifies the Buyer receives the watch.
- The Buyer accepts the watch. The Buyer accepts delivery of the watch and can reject or accept it within a certain number of days. This gives them the opportunity to check the watch is in the condition advertised.
- The Seller receives payment. Once the Buyer accepts the watch, Escrow.com releases payment to the Seller.
It is as simple as that. There is no risk to the Seller or Buyer when buying a luxury watch online. The Buyer has the opportunity to check its condition when it arrives while the Seller knows the money is with Escrow.com. After, Escrow.com guarantees payment once the Buyer is happy with the product.