If you’ve never done it before, selling a luxury watch can be a daunting exercise. Not only are there so many selling platforms out there to consider but there’s also the concern about getting the best price for your watch. Selling your watch can also be risky, whether you sell it online and ship it, or meet a buyer in person.
To ease you into the process, we’ve laid out the best steps to take when selling a watch. Once you get the hang of it, you’ll see that there’s nothing scary about it and you can feel more comfortable about selling any unwanted pieces from your watch collection to make room for others. Whether you’re thinking about selling your Rolex, Omega, Patek Philippe, Audemars Piguet, Cartier, Breitling, or any other high-end watch, here’s everything you need to know.
Step 1: Determine the Exact Model, Reference Number, and Age
Let’s start with the basics: what watch are you selling? You’ll need to figure out the brand, model, reference number, and if possible, the approximate age of the watch.
How you go about determining this information will vary from brand to brand. Some watches have the name of the model on the dial (for example, the Rolex Cosmograph Daytona), as well as the reference number engraved somewhere on the watch (like the caseback or under the lugs). Other brands will have less information on the watch itself but print it all on the accompanying paperwork and cards.
Figuring out the age of a watch (without any of the official paperwork that it came with) can be a little trickier. You can use reference numbers, serial numbers, or some sleuthing around watch forums to establish the approximate age of your watch.
In short, do some preliminary research about your watch and gather some information:
- Brand
- Model
- Reference Number (also known as Model Number or Style Number)
- Approximate Age
- Serial Number (not essential but nice to have)
If you are selling a Rolex, you can refer to the Ultimate Guide to Rolex Serial Numbers to find information about your watch.
Step 2: Collect Your Documentation
If you have any of the paperwork and/or packaging that originally came with the watch, it’ll make selling your luxury watch all the better. There are also other types of official papers that you could have gathered during your ownership of the watch.
Types of documentation and packaging can include:
- Sales receipt
- Warranty card
- Certificate of Authenticity
- COSC (chronometer) Certification
- Instruction manual
- Brochure
- Extract from the Archives
- Service records and receipts
- Insurance or appraisal papers
- Watch box
- Hang tags, stickers, bezel protectors, shopping bag
All this extra stuff serves to assure the potential buyer that your watch is the real deal. Plus, accompanying papers and boxes add value when you’re reselling a high-end watch – anywhere from 10% to 15% extra to the final selling price.
Step 3: Figure Out the Value of Your Watch
Now that you’re armed with your watch, information, and documentation, it’s time to calculate how much it’s worth, or at least a ballpark figure. There are a couple of selling prices to keep in mind.
First, there’s the official retail price, also known as the Manufacturer’s Suggested Retail Price (MSRP). If the watch you want to sell is part of the current collection, you can often find the sticker price on the brand’s website.
While the MSRP is good to know, what’s even more important is to understand how much your watch is valued on the secondary market. You can check out places like Chrono24, eBay (sold listings), and WatchCharts to estimate the resale price of your luxury watch. Or simply Google your watch model and reference number and you may see some shopping lists that come with pricing information.
Pricing Guides:
What is the Price of a Rolex Oyster Perpetual Datejust?
How much can I get for my used Rolex Submariner?
How much does an Omega Speedmaster cost?
How much does a Cartier Tank cost?
How much does a Patek Philippe Nautilus cost?
How much does an Audemars Piguet Royal Oak cost?
Richard Mille Prices: Historical and Current From Actual Sales Numbers
However, it’s worth noting that prices published online are often inflated and your watch could be valued much less. Plus, factors such as condition, packaging, age, and market demand will also play into the final price you’ll receive for selling your watch.
Step 4: Decide Where to Sell Your Watch
As mentioned, there are so many ways these days to sell your luxury watch. For instance, you can choose to sell it yourself via online platforms. Alternatively, you could hand it over to an auction house to sell it on your behalf. Or, you can sell it directly to a professional watch buyer like a grey market dealer or pre-owned watch specialist. Here’s a breakdown of some common channels used to sell watches.
Online Platforms
If you choose to sell your watch yourself online, there are generally two main categories to consider: selling platforms and community platforms.
Selling Platforms
If you want to sell your watch in a private sale, there are several types of selling platforms available. For instance, you can choose watch-specific marketplaces such as Chrono24 or general auction sites like eBay. There are also re-selling apps like Poshmark. You could even post a classified ad on Craigslist.
Note, these platforms do not buy your watch from you; they are marketplaces that bring sellers and buyers together. If the buyer later regrets purchasing your watch, you will likely have to deal with bad reviews and refunds, not to mention organizing a way to get your watch back safely.
Selling platforms will charge either a listing fee, take a percentage of the sale, or both. All these expenses will have an impact on the final amount you’ll get for selling your watch.
Understand that it can be a very time-consuming process to sell on these types of platforms and you might not get as much as the watch is actually worth. Besides a few high-demand models, to sell a watch quickly and for top dollar, not only do you need a really good presentation but you also need to be credible and trustworthy. Generally speaking, as a one-time seller, getting top dollar for your watch is difficult because you lack reputation and credibility. Price being equal, the logical buyer will always buy from the seller with an established business and hundreds of references over you, an unknown seller.
Community Platforms
You could also list your watch for sale on community platforms such as Facebook Marketplace, NextDoor, or Reddit. Reddit has a subreddit called r/WatchExchange dedicated to buying, selling, and trading watches, while forums like WatchUSeek have threads reserved for private sales.
It is generally free to post your item for sale on community platforms. However, it can be very dangerous for several reasons. First, scams are common on these types of platforms with no recourse if you get swindled. What’s more, meeting a stranger face-to-face while having an expensive watch in your possession can be a dangerous proposition. Finally, announcing that you’re selling luxury goods on these massive online communities could put you at risk of being robbed; particularly if your location is public.
Further reading: How Can I Recover My Stolen Rolex?
Glossary of terms used in online platforms for watch sales
Watch selling platforms have developed their own short-hand for communicating about the purchase or sale of watches, which can be tricky at first. Some of the most common terms include:
| B&P / B+P | The watch comes with box and papers |
| BNIB | The watch is unworn and “brand new in box”. |
| Buyer’s label | Buyer is expected to pay shipping costs. |
| Complete Set / Full Set | The watch comes with everything it did when it was sold new. This typically means the box, authenticity papers, all links, all booklets and any hangtags or other accessories. |
| f2f | Means “face-to-face” |
| Hard/soft/medium call | Is used on ISO posts to denote how serious the request is for a particular watch (hard means guaranteed to buy one, medium means likely to buy one, and soft means just browsing). |
| ISO | Means “in search of”, used on posts requesting a particular watch or reference. |
| Mazal | A hebrew word that means “good luck”, but in the context of diamonds, jewelry and watch sales, means a firm deal. “Breaking mazal” means you back out of a firm deal, and can get you banned from certain platforms. |
| Mint | Mint condition, no scratches or scuffs. |
| Naked | The watch does not come with original box or papers. |
| OBO | Means “or best offer” and indicates that the watch will be sold to the best offer. |
| Outer box | A cardboard outer box protecting the actual box. Not required for a watch to be “complete”, but nice to have. |
| Polish to new | The watch has some scratches or scuffs and requires a polish to bring it back to look “new” (this will not bring it back to new). |
| Polished | The watch has been polished. This is a divisive issue, but almost always devalues the watch. |
| Slider | A watch that is not unworn but can pass as new because of its condition (we at Grey Market don’t use this term, because it’s misleading. It’s either unworn or not). |
| Unworn | The watch has never been worn. In some cases, the watch would have been put on in store, but never worn outside the AD. |
| Unsized | No links were removed from the watch for sizing. |
| WTS | Willing to sell (used on for sale posts). |
Grey Market Dealers
The easiest route is to sell your watch to a professional grey market dealer like Luxury Bazaar. Reputable grey market dealers and pre-owned watch specialists know exactly what you are selling and the market price for it. They have the logistics in place to receive your watch, inspect it, send you a quick payment, and then deal with everything that needs to be done to sell it to the end user.
Back to basics: What is a Grey Market Dealer?
Of course, professional buyers have business costs, so they will usually net out at less than what you’re seeing listed online. Take into consideration the time and effort it takes to recondition the watch, photograph it, market it, and list it, not to mention insurance, shipping, and warranty fees. Contrary to popular belief, grey market margins are nowhere near retail margins.
What it takes to run this business: Watch Grey Market Season 1 on YouTube
A huge benefit is that you will not have to worry about the watch after you sell it directly to a watch dealer. Once the deal is done, there’s no risk of refund requests or buyer’s remorse.
Auction Houses
We should mention, if your timepiece is particularly rare or unique, you could look for a specialized auction house either online or brick-and-mortar (think Sotheby’s). Specialized auctions tend to attract buyers from everywhere globally, with the potential to get more money for your watch than if you listed it at a fixed price.
One downside is that you have no control over the auction. As long as the highest bid is greater than the reserve price (a confidential, agreed-upon minimum price that is never higher than the estimated watch price) you’re still obligated to sell it. Moreover, both you and the buyer will have to pay a commission to the auction house, which can seriously eat into your profit. On the upside, similar to a grey market dealer, the auction house takes care of everything, especially time-consuming tasks like proper photography, descriptions, and advertising.
Pros and Cons of Various Watch Selling Platforms
| Selling Platform | Pros | Cons |
|---|---|---|
| Chrono24 | Specialized in watch selling/buying Large audience of motivated watch buyers | Expensive fees Time-consuming to post a good listing High competition May have to deal with refunds and/or bad reviews |
| eBay | Large audience of buyers of any and everything | Expensive fees Time-consuming to post a good listing General selling site, not just watches May have to deal with refunds and/or bad reviews |
| Craigslist | Free to post | Time-consuming to post a good listing Could be dangerous if you meet face to face |
| Facebook Marketplace | Free to post | Time-consuming to post a good listing Could be dangerous if you meet face to face |
| NextDoor | Free to post | Time-consuming to post a good listing Could be dangerous if you meet face to face |
| Reddit r/WatchExchange | Free to post Large audience of motivated watch buyers | The subreddit has no responsibility over the sales; they’re simply a platform that brings buyers and selling together May have to deal with refunds |
| Auction Houses | They’ll take care of listing, marketing, and selling | Expensive fees You have no control over the selling price Only applicable to expensive, vintage, or rare watches |
| Professional Watch Buyers | Instant offers Quick payments Secure transactions They’ll take care of listing, marketing, and selling Sell, consign, or trade | You could net slightly less for your watch compared to a private sale |
Step 5: Listing Your Watch For Sale
Finally, after getting your details together and deciding on a platform, it’s time to sell your watch. Executing this step will vary depending on the selling method you’ve selected.
Selling Your Watch to Grey Market Dealer
If you’ve decided to sell your watch to a reputable specialist, you won’t have to list it yourself.
These are the typical steps required:
- Request an offer to sell your watch by providing details about your watch and uploading some clear pictures.
- Receive the offer and decide whether or not to accept it
- If accepted, wait for the funds to be deposited into an escrow account
- Ship the watch
- When the buyer receives the watch and it passes inspection, the funds will be released to you
A good grey market dealer will be able to send you the money first through the use of a third-party escrow service.
Learn more: How to Sell Your Watch to Luxury Bazaar
Sale vs. Consignment vs. Trade
Another big benefit of selling to a grey market dealer is flexibility. With premium resellers, you can often choose between a direct sale, a consignment agreement, or a trade-in.
A direct sale is the quickest method; you sell your watch to the dealer and the dealer pays you an agreed-upon amount.
Watch consignment is an arrangement whereby the dealer agrees to sell the watch on your behalf (without paying you upfront). Consigning your watch can take longer but it can also result in a higher pay-out price (typically 10-20% higher). You get paid once the watch is purchased by an end user.
In a watch trade-in, a grey market dealer offers you a set amount for your watch that you can use against purchasing one or more watches they have in stock. The value of your watch will be counted against your purchases, and any difference in value is paid in cash either by you or the dealer, depending on the relative value of the trade.
Selling Your Watch in a Private Sale
If you’ve decided you’re going to sell your watch yourself to a private buyer, then you will need to:
- Take high-quality pictures of your watch
- List your watch on the platform
- Market your watch
- Negotiate with prospective buyers
- Ship the watch
How to take high-quality pictures of your watch
Having high-quality pictures is vital when selling a watch. Prospective buyers want to see what they’re potentially investing in and pictures can help them see the condition and authenticity of the watch. Low-quality pictures could imply to the buyer that you’re selling a fake watch or that the condition of the watch is not as described.
Good to know: How to Spot a Fake Rolex
Watches can be tough to photograph due to their shiny and reflective surfaces. Poor light conditions and unsteady handling of the camera often end up in drab, unappealing pictures. This will not help you sell your watch.
Try to keep the watch uniformly-lit, and photograph it from every angle. Capture pictures of the watch both on the wrist and set against a neutral background. Make sure to get all the details like the case, crown, buckle, caseback, dial, hands, and crystal. If you need some more guidance, you can check out some tips for photographing watches.
If the watch has imperfections, take clear pictures of them so the buyer is aware of what they are buying. This is an excellent way of building trust.
What information should you include in your watch sale listing?
You should provide as much information as possible about the watch to get the attention of potential buyers. Carefully write the description and include all relevant information in an easy-to-read manner.
Details to include in your watch listing:
- Date of purchase
- Location of purchase
- The retailer you purchased it from, if available
- Service history
- How it is running
- Condition
- Any replacement parts?
- Has it ever been polished?
- How is the crystal?
- Original bracelet and buckle?
- Any missing links?
- Any dings or scratches?
- Anything rare or interesting about the particular model that makes it stand out
CAUTION: Do not include your watch’s serial number, or pictures that include the serial number. This is sensitive information that should not be publicly shared (as it can be used by counterfeiters).
Closing the deal
Once you’ve found a prospective buyer, it’s time to get into the technical details of the sale to protect yourself as a seller. You don’t want to make a firm deal (mazal) by accepting an offer without ironing out all of the details:
- Will the deal be face to face or will the watch be shipped?
- If face-to-face, where will you meet?
- How will the money be paid (wire transfer, e-transfer, cash, PayPal, etc.)?
- If shipped, who is responsible to pay for shipping? Will an escrow service be used?
- If shipped, do you ship first or receive payment first?
Some best practices to follow include:
- Send your buyer a short video showing the watch in disclosed condition, ticking before sending the watch
- Request a traceable form of payment for added protection
- Using an escrow service is a very good idea since a third party collects and holds the funds, and only disburses them when both the buyer and seller are satisfied
- Prepare a declaration with the names of the seller and the buyer, along with contact information. Also include details of the watch and its serial number, if present. This document is useful to officially show the transfer of property
- Carefully pack and ship the watch. Use an express courier and opt for the registered and insured option
Payment or Shipping First?
We always recommend using a verified and credible escrow service to protect both parties in a private sale. If you don’t want to use an escrow service or can’t, we recommend confirming you’ve received payment prior to shipping.
In some cases, as a seller with no prior sale history or references on a community platform, getting a buyer to pay first is a difficult prospect. If you don’t otherwise indicate it in your sale post, many of the well-managed community platforms noted above will have rules that require the person with fewer references (i.e. other community members to vouch for them) to bear the risk of the transaction. You can avoid this by putting “Buyer pays first” or “shipment after receiving funds” in your sale post. Remember that you do not know your buyer, but the reverse is also true: your buyer cannot be sure how trustworthy you are. Someone with credibility and references may not be willing to send money to an unknown person just because they say they have a watch.
Watch Out for Common Scams
A few common scams that prey on eBay sellers include the following:
- The buyer offers to make a deal outside of eBay to save the seller fees, but then disappears with the item
- A buyer offers to pay over list price if the deal is done outside of eBay but then the check bounces after the seller ships the item
- The eBay buyer claims they received an empty box so eBay will demand a refund from the seller and the seller is left without the watch or payment
- A buyer claims the watch was damaged upon receiving it, showing pictures to eBay of a damaged (fake) watch. The seller is forced to give a refund and is now missing both the watch and the money
- An eBay buyer claims the watch is fake and the seller is forced to give a refund and is returned a fake watch
- A buyer can activate a chargeback with their credit card company, which heavily favors buyers over sellers
A few common Craigslist scams that sellers have experienced include the following:
- Getting robbed at gunpoint when they meet the buyer in person. Meeting in a public place like a bank or police station doesn’t guarantee 100% safety either – some sellers have been followed home after the transaction is complete and then robbed of the cash.
- Getting paid with fake dollar bills or fake checks when they sell the watch face to face, or being tricked by a switched envelope with less much cash than the watch is worth
- Buyers switching out the real watch with a fake one during a meet-up, then accusing the seller of trying to sell replicas and refusing to pay – leaving the seller with a fake watch and no payment
Brand-Specific Tips
While there are some general best practices when selling a watch, there are a few brand-specific tips to keep in mind that can result in even more successful transactions. Of course, we’ve compiled detailed guides to selling luxury watches according to specific brands.
How to Sell My Rolex Watch
How to Sell My Patek Philippe
How to Sell My Audemars Piguet Watch
How to Sell My Omega Watch
How to Sell My Cartier Watch
How to Sell My Panerai Watch
How to Sell My Hublot Watch
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