Appraising Your Watch in the Current Market
Watch Appraisal in Today’s Market
The used watch market is one of many uncertainties and questions. Professional watch appraisers are not a dime a dozen at pawn shops, and online sources can run the risk of scams. Companies such as Crown and Caliber were founded primarily to help watch enthusiasts sell and trade pre-owned watches online. Professional appraisers use a consistent formula that involves evaluating each timepiece based on historical sales.
The Watch’s Rarity
A watch can be among an exclusive collection or widely distributed by the dozens. Obviously, a watch brand that has only 30 pieces made will retail for hundreds of thousands more than one that can be easily found by store or online search. However, rare can be mistaken for undesirable as well. Do not be quick to jump the gun on “rare” watches with a low price point. This can mean the watch is of such a low quality, that the owner may be simply trying to get rid of it. Re-selling said watch may not net you a high price on the market.
Check the Condition
Just like with used cars, a watch has a list of running specs and conditions that affect its value. It can be clean, but if the mechanics are not in order, it has a lower value. Professional appraisers are able to take apart timepieces for conducting lubricating and pressure testing to ensure proper functioning. The difference in value is enormous depending on whether the watch works to its original specifications.
Look for Any Additional Features
Watches consist of many pieces, including power reserve functions, minute repeaters, perpetual calendars, and more. The more it can do, the more it is worth. Check your watch or a seller’s watch for these type of functions when you have the chance.
The Reputation of the Brand
The great watch brands such as Hublot, Rolex, Omega, Montblanc, and more have a glamorous reputation compared to other brands. They stay valuable for a longer period of time. A good rule of thumb to follow is that if the watch emphasizes the external appearance rather than the crest in the interior, it may lose its value earlier.
Your Own Perception
Luxury watches are not always going to be an investment. An important component of appraising a watch is whether you simply enjoy wearing it. If you do not feel connected to a timepiece, you can move on to the next one.