After going over the best way to buy a watch we thought we’d address the inverse by diving into how to sell a watch. Selling a watch for the first time can cause apprehension with so much competition out there, you have to stand out and know what you’re doing. In this article, we will go over how to price, where to sell, and how to list your watch so that you are able to ensure your watch sells quickly and you are able to sell for the best price.
Finding a good price to ask for your watch can be tricky for beginners but don’t worry these tips make it a breeze. Looking at the watches MSRP value or price from the factory can be helpful to know, however, this price is for the sale of a watch brand new with factory warranty and in perfect condition so resellers can not expect to sell pre-owned watches at these prices. There are exceptions to this of course such as highly coveted luxury watches with little to no availability such as the Audemars Piguet Royal Oak Skeleton, watches such as these sell for more than the MSRP value on the grey market. A good way to find the value of your watch is to look up your watch as specifically as you can on websites such as Chrono 24, eBay, or craigslist. Once you find watches like yours on these sites simply see what they are selling for, you can try to undercut all the other listing prices or take the average price of 5 watches listed and price your watch around that number. You’ll want to try and find listings from private sellers because those prices will be closer to the price you’ll be able to sell your watch for. The way to differentiate between private sellers and Businesses on these sites is to look at the photo quality and descriptions in the listings, Businesses will usually have high-quality photos with in-depth descriptions while private sellers will have lesser descriptions and photos not as professional looking. Chrono 24 is great because all users selling a watch will have listed on their account if they are a private seller or authorized dealer so I would recommend starting there and using eBay as a double check to ensure your watches price is comparitable to others of the same variety.
Where to sell a watch
- Dedicated to the sale of watches so all users are looking to buy a watch
- Free listings for private sellers
- Escrow service for payment processing
- Low final sale fee compared to eBay at 6.5%
- Difficult to make quick sales when not a trusted seller or authorized dealer
- 3-month minimum listing duration, a fee is given if the watch is sold elsewhere during this 3 month period
Chrono 24 is the biggest online watch marketplace, for this reason, you can be sure that your watch listing will get views on this site. Chrono 24 is also seller-friendly with their convenient escrow service for payment processing and an adequate 6.5% final sale fee and free listing for private sellers.
When selling on Chrono 24 you’ll want to become a trusted seller so buyers feel comfortable buying from you as without the trusted seller title many buyers will not even consider buying your watch. Chrono 24 also has a 3-month minimum listing duration which means that when you post a listing on the platform the listing must stay up for 3 months or until sold and if at any point the listing is taken down by the seller during the three months a fee will be given unless you can prove you still own the watch. Chrono 24 does this to ensure they get a cut of the final sale and the seller-buyer relationship isn’t formed on the platform with the sale being completed outside causing Chrono 24 to miss out on their final sale fee. Overall Chrono 24 is a good seller-friendly place to sell a watch and if you plan on only using one marketplace to list your watch Chrono 24 may be a good online market place for you.
- PayPal payment processing
- Organic traffic to the listing
- Free listings for first 50 of every month
- Relatively high final sale fee of 10% (Sometimes Lower)
- Scam buyers
- Can take a while for the watch to sell
The benefits of selling your watch on eBay are much alike Chrono 24. Potential buyers can find your listing without the need for advertising, eBay takes care of the payment processing through PayPal, and listing items is free for the first 50 listings every month. One benefit eBay has over Chrono 24 is the ability to post watches for sale on other platforms while on eBay and completing the sale without having to prove why the listing was taken down unless eBay feels you have met the buyer through their platform in which case eBay will charge the seller a fee, this can cause watches to sell quicker since more people will see it posted on other marketplaces.
The drawbacks of using eBay start most prominently with their high final sale fee of 10%. In addition to the high final sale fee, eBay also has a higher potential for scam buyers so these are some negatives to consider. As long as your smart about picking the right buyer and don’t mind giving up a bit more money for using the platform, eBay can be a great option to sell your watch on.
- Low 5% final sale fee
- Free listings
- Organic traffic to the listing
- Facebook handles payment processing or payment if transaction not done in person
- Fewer scam buyers since the buyers are connected to a Facebook page you can verify
- Generally less potential buyers than eBay or Chrono 24
Facebook marketplace charges only a 5% final sale fee and free listings so from a cost to seller standpoint Facebook Marketplace is a cheaper option compared to eBay or Chrono 24. Facebook also handles the payment processing for sales on Facebook Marketplace which is convenient, transactions are also commonly practiced in person which is great for those who like a face to face transaction. The potential for scam buyers is also lower on Facebook Marketplace considering most buyers will be connected to a Facebook account so sellers are able to put a face to the buyer and verify they are a real person.
There are not many drawbacks to selling your watch in Facebook Marketplace besides a big one being that in most cases watches will take a long time to sell since generally speaking not as many potential buyers use Facebook Marketplace, also Facebook Marketplace shows listings in the buyer’s area first so this decreases the number of potential buyers even further. If you have time to wait and want the most money possible selling your watch on and online marketplace Facebook Marketplace may be the best platform for you.
Facebook Groups and Watch Forums
- No final sale fee
- Generally more knowledgeable buyers
- Possibility of trades
- Have to figure out payment processing and shipping
- Anonymity of buyers, highest potential of scam
Watch forums and watch facebook groups consist of generally more knowledgeable buyers who like to know specifics about any potential purchase. This means that before attempting to sell to members of a watch groups you have to ensure you know everything there is to know about the watch your selling. The members of these groups often are open to trading watches so if your goal is trading your watch rather then straight up selling it then watch forums and facebook groups will be almost certainly your best option. Selling to members of watch forums and Facebook groups also has the added bonus of not having to pay any sale fees to an online marketplace so what you sell the watch for is what you’ll get.
If you want to sell your watch on an online forum or facebook group you can expect to put in more effort than just creating a listing and waiting as in these groups you’ll have to draw potential buyers to you and engage more with potential buyers, in addition, the payment processing and shipping will have to be solely carried out between you and the buyer. Finally, the potential for scam buyers can be especially high on online watch forums because users often don’t use personal information on these sites. If you are willing to put in the effort, selling your watch on an online watch forum or Facebook group can be extremely advantageous for sellers.
- Same day cash in hand
- Quick sale
- Will likely get lowest offer of any way to sell a watch
Selling Your watch to a pawn shop is great for sellers who are just looking to sell their watch quickly with minimal effort. Pawn shops will give you the opportunity to turn your watch into cash same day which can be a very tempting proposition, however, pawn shops buy items to then resell them, therefor the offer you are given likely will be much less than the amount a person buying a watch for enjoyment would be willing to pay. If you are okay with getting less money for your watch to be rid of it quickly pawn shops are great but make sure you shop around and get offers from multiple pawn shops to ensure you get the best offer possible.
Photos and Description
When selling a watch online, the importance of the photos and description can not be overstated. Most potential buyers will not even see the description unless the photos and headline of your listing matches their expectations. The header of a watch listing should be simple, simply the watches brand and model is fine. Photos of the watch in your listing should be in focus with multiple angles because otherwise, buyers could assume there’s something wrong with the watch in the locations not pictured. Lighting is also key to showing off your watch in the best way, you’ll want to show the watch in the best light showing it’s true beauty. Catching a watch in photos with good lighting is more difficult than you’d expect as indoor lighting usually won’t do the watch justice, getting around this problem is as easy as photographing the watch outdoors where the sunlight will exaggerate the watches beauty nicely plus provide a background better than one provided indoors.
Descriptions for a watch listing need to be detailed and honest, it’s commonly known that in the watch selling world your name is everything so be honest about the watch your selling especially when it comes to the condition acknowledging even minor scratches or scuffs as watch enthusiasts are often picky about condition. In your description the more detailed the better, an easy way to ensure the description includes all necessary information is to copy the description from a verified dealers listing on eBay or Chrono 24 and substitute the information on the copied description for your own, all information for your watch can be found with a quick google search or the company that makes your watches website.
You’re all set!
Parting with a watch can be tough but we hope, armed with this information the selling process won’t be as difficult as losing the watch itself. Remember, patience is key when it comes to selling your watch because the quick sell isn’t always the best, and to get your watch to sell for the right price may take some time but just be patient because you never know when the right buyer will come along! If after selling your watch your looking to buy a new piece for the collection check out our post on the best way to buy a watch. And if you’re wondering what kind of watch to get once well informed on the best way to buy a watch why not look at budget options listed in our post on the top 10 watches under $100. If you have any questions not mentioned in this article on how to sell a watch comment below! And why not share this article with someone who could use it! Thanks for reading this post by Midnight Watches “For Watch People.”