Do you have a luxury watch you want to sell? Maybe you haven’t worn it for a long time and no longer need it. Perhaps you want to upgrade to a new timepiece to suit your current lifestyle and tastes.
It’s easy to sell your luxury watch on eBay for the best price. When you use Escrow.com, you no longer need to worry about receiving payment as you get increased protection against such risks.
Read on to learn about the best way to sell your luxury watch online.
Selling a Used Luxury Watch
To sell your pre-loved luxury watch, gather the necessary paperwork, any accessories, and the watch.
Do you have the following?
- Original Box
- Service Records
- Purchase Receipt
- Certificate of Authenticity
Having the original paperwork shows Buyers your watch is authentic and will make the sale easier. What’s more, it can actually 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
If you have the watch without the original paperwork, you can still sell it, but it won’t be worth as much money. You can ask the original Seller for a copy of the original paperwork, as very often, this will be sufficient evidence of authenticity.
If this does not work, some brands will issue a Certificate of Authentication or other paperwork for a fee. This can be worth looking into, particularly if the watch was very expensive.
A few of the luxury brands that offer this service include:
- Patek Philippe
Consider Using eBay Authenticity Guarantee
The Authenticity Guarantee is an aftersales authentication service for all watches sold for $2,000 or more in the U.S, or for $10,000 or more for the rest of the world.
The service offers complete inspection and verification that is carried out by independent experts. With no buyer fees and competitive pricing, Buyers and Sellers alike will benefit from increased trust and greater confidence when buying luxury watches on eBay. For eligible listings, which include new, pre-owned, and vintage watches, these will now be clearly marked with the Authenticity Guarantee badge.
Here’s how the Authenticity Guarantee process works
- Buyers browse the eBay luxury and vintage watch marketplace, looking for listings that carry the Authenticity Guarantee. Negotiations take place as usual.
- After purchase, and before being shipped to the customer, the piece is routed to a third-party authenticator for a thorough assessment.
- Upon receipt, the independent authenticator confirms the item is consistent with the listing title, description, and images then a multi-point physical authentication inspection is performed, focusing on assessment of the crown, bezel, dial, case, clasp/buckle, hands, end links, and serial number. A security tag is then attached to the watch.
- Once verified, it is then shipped via expedited, two-day shipping from the authenticator facility to the customer with signature confirmation upon delivery.
eBay covers the cost of authentication, as well as the two-day, secure shipping from the authentication facility to the Buyer.
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 can distinguish your watch from the others.
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.
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 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 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 complete serial numbers online, because 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, use the internet to do some research. 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 high-quality images that illustrate that capture the details of your luxury watch. Buyers will always want to see the full condition of luxury watches that they’re interested in buying online.
You need close-up photos of the front, the back, the band, and the buckle. Make sure any serial numbers are present in the photos, but make sure you blur out most of the detail. Where you have paperwork, the original packaging, and accessories, take photos of these. But make sure any numbers are not clearly displayed for the reasons we mentioned earlier.
Your photos need to be in focus, clear, and with good lighting. Ensure 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.
Benefits of Using Escrow.com
Protect yourself online to avoid issues with not receiving payment or with the Buyer not 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.
Escrow.com Benefits for Buyers
Buying a luxury watch on eBay isn’t something people do often, and as with all high-value purchases, you need to know that you’re getting the real deal. Authenticity, trust, and transparency are key, and with Escrow.com, buyers get the assurances they need to buy with confidence.
- The funds are securely held in a trust until the transfer is complete
- Both parties are verified prior to starting/closing the escrow
- Buyers get a smooth, easy online transaction that is fully tracked from start to finish
- Buyers are protected from non-delivery and promptly refunded if such an event occurs
Escrow.com Benefits for Sellers
Selling a luxury watch on eBay is a major transaction and one which needs to be handled with due diligence. The cost of a luxury watch is often considerable, and sellers want to ensure their goods arrive on time, in the condition they were sent, and to the full and complete satisfaction of the Buyer. The most important part of the process is ensuring you get paid promptly.
- The funds are securely held in a trust until the transaction is complete
- Both parties are verified prior to starting/closing the escrow
- Sellers get a smooth, easy online transaction that is fully tracked from start to finish
- As soon as the item is received, the Seller promptly gets paid
- There is no risk of having a payment recalled arbitrarily
Regardless of which side of the transaction you are on, escrow.com can help you get a secure and straightforward transfer process.
How it works
Wherever you decide to purchase a luxury watch online, make sure you use Escrow.com to facilitate your online payment. Escrow.com will protects all parties involved, using a simple five-step process:
- The Buyer and Seller agree to terms. Once the 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 pays Escrow.com. The Buyer deposits payment, and Escrow.com verifies it. The Seller is notified when the money is secure in escrow.
- Seller sends the watch to the Buyer. 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.
- Escrow.com pays the Seller. Once the Buyer accepts the watch, Escrow.com releases payment to the Seller.
It’s as simple as that. There is no risk to the Seller or Buyer when you sell a luxury watch online. The Buyer has the opportunity to check its condition when it arrives, while the Seller knows the money is safely deposited with Escrow.com. Escrow.com guarantees payment once the Buyer confirms they are happy with the product.