Highly collectible and stylish, mechanical watches are fine pieces of engineering, often made in small or limited editions. And buying one can be a good investment. Keep in mind, though, that the price of pre-owned watches fluctuates with fashion, trends and the market demand. If you’re interested in how to sell pre-owned watches, you should know that a resell price is always lower than the current retail price for a new watch. Here are the factors that affect the resale value of your watch.

Brand and model

The finest luxury watches hold greater value than watches from non-luxury brands. The pre-owned watch market is dominated by Rolex and other fine brands such as Patek Philippe, Cartier, and Panerai. It’s the prestige as well as the high level of quality and workmanship that add value to a high-end timepiece. Certain models are in more demand than others, regardless of the original retail price. Also, the more complications a pre-owned watch has, the better. A complication is any function that a watch has in addition to telling the time, such as date, moonphase, or 2^nd time zone. Age and materials used affect the price, as well. It doesn’t necessarily hold that the older your watch, the higher the value. Usually older watches have been subjected to more wear and that can negatively affect value. Regular maintenance of any watch will serve to preserve resale value as much as possible. High-quality materials can add significantly to the value of a watch. Most fine Swiss and German watches are made of stainless steel, gold, platinum, titanium, or a combination of those metals.

Box and papers

A high-end watch bought directly from an authorized dealer usually comes with a box and papers that confirm its authenticity. Anyone who collects watches would be smart not to throw the original packaging away because buyers appreciate having the original box and papers, although plenty of pre-owned watches are purchased without them. If a watch is a true antique (over 100 years old), then the original papers and box in good condition might add 20% or more to the value of the watch. In modern watches, the added value is much less.

Reference number and serial number

These numbers are one of the first things that an expert looks at when determining the price. Every timepiece has a unique combination of the reference number and serial number. The reference number is also called the model number and applies to all watches of that specific model, while the serial number is exclusive to your watch only. If you have the accompanying documentation of your watch, finding the numbers will be easy. If, however, you no longer have it, a professional will look for it on the watch.

Condition

Condition and working order of a watch are essential. A buyer would like a luxurious timepiece that looks and works as new. Not every watch is suited for daily wear and some owners are more careful than others. Nevertheless, a watch that is worn will get some tiny and even a few deep scratches over time. There may be not only visible signs of damage on your watch. If the scratch is deep or the watch has several dents, you can’t know if the mechanical movement inside remained intact. Leave it to an experienced watchmaker to fully examine and assess the timepiece you’d like to sell. If the watch will require a lot of work to put it back into like-new condition, that will affect the price that will be offered.

Restoration

If your watch’s crystal is scratched or badly damaged, a watchmaker can replace it without affecting the working condition of the timepiece. Other components are prone to wear, such as the mainspring or the crown, so don’t worry if they need to be replaced, as long as they are replaced with genuine parts appropriate for the brand. Beware that polishing a watch in the wrong way can devalue it. Only let a professional restoration and repair service refinish and polish your watch.  Otherwise, your watch might return from a restoration with a worse finish than when it started.

Service

A regular service and proper maintenance record is important proof that you have taken good care of your timepiece. This particularly matters if you’re looking to sell an older watch. If you’ve had it serviced at a trusted dealer every 3-5 years and have proper documentation to back this up, you can get a higher price.

Market value

There is a large marketplace for those who want to sell and buy pre-owned watches. There are collectors who just love the nostalgia of a vintage watch and its particular history, and collectible watches are highly appreciated among them. Therefore, if you’re selling a watch that is a custom-made, rare or limited edition, you can expect to get a much higher price. However, the top brands will always be valued even if not particularly rare. Pre-owned watches from brands like Rolex, Patek Philippe, Cartier and Omega are consistently popular and stay desirable for years.

How to sell pre-owned watches? Leo Hamel Jewelry Buyers is the answer

If you’re looking to sell your pre-owned watch, come to one of our Jewelry and Watch Buying locations, including our flagship buying office  on San Diego Avenue. Here at Leo Hamel Jewelry Buyers, we’ve been buying and selling pre-owned watches for over 37 years and are able to offer you top dollar for your treasured timepiece. Our full-time CW21-certified watchmaker and polite and experienced watch experts have the skill and knowledge to accurately price your watch. Our staff can also give you advice on how to sell pre-owned watches and answer any question you may have. You can even trade in your watch towards a new purchase. We know that selling your valuables can be an emotional experience and ensure that all our buying offices are safe, secure and private. Find your nearest Leo Hamel Jewelry Buyers  and visit us today!