Knowing the current and realistic market value of your watch is imperative, as you don't want to scare away potential costumers with excessive demands or to sell your watch for less than its worth. Our tips will help you assess the value of your watch as simply, comfortably, and realistically as possible.
Appraisal on Chrono24
Chrono24 offers a free appraisal tool.
By using the appraisal tool, you spare yourself a trip to the jewelers – or perhaps even multiple locations – to get a reasonable estimate of your watch's market value. Simply choose the model and enter its condition to immediately receive its current market value in our new tool. We compare your watch with more than 400,000 other offers in our database and help you to set a realistic price using this price recommendation. It's important to note that the appraisal only shows an average price based on comparable offers on our platform and is not a guaranteed sales price.
Comparing similar listings
When assessing a watch for an appropriate sales price, you can also begin searching for other comparable models. Keep in mind that regardless whether you search using the model name or reference number, models with the same name can differ in their use of materials. For example, is the bezel stainless steel or white gold?
The presence of the watch's box and papers is another important factor. This plays an especially large role in the price of newer watches that come with or are still under warranty. If they are not included, this can lead to a significant price reduction. In general, this is less of an issue with older watches. The lack of a box and/or papers is less frowned upon in these instances.
The watch's complications are yet another factor. The value can increase considerably if your watch has intricate complications like a perpetual calendar, moon phase indicator, or a flyback chronograph. Be sure to look at which complications seemingly comparable watches feature.
Popularity and demand determine the price
As seen in other markets, the current value and sales price of watches also depend on supply and demand.
Get a feel for how popular your watch currently is. For example, take a look at how many listings there are for that model on Chrono24. Are numerous new listings showing up every day, or was there only one listing added in the last few months? Add comparable models to your Notepad and watch how quickly they sell. Another tip: Look at blogs and in the trade press for current articles about your watch.
If your watch is no longer being produced or is a limited edition, this usually has a positive influence on its value.
Private seller or professional dealer
Be aware that as a private seller, you are likely to get lower prices than commercial dealers. Why? It's simple: Commercial dealers provide warranties after the sale has been made. What's more, most dealers can guarantee the accuracy, water resistance, etc. of their watches before selling them. Buyers are usually willing to pay more for this sense of security.
Did you know that we also offer an escrow service to our private sellers? This minimizes risk during the transaction and significantly increases your chances of selling.
Different places, different prices
Depending on where you are and where you sell your watch, the market price may rise or fall. This comes down to country-specific shipping costs and customs and tax regulations, among other things.
In general, it is advisable to set a price based on references from your home market. You should gear your ad toward your home market due to possible customs duties. This makes everything easier for both parties during the transaction.