You should never consider selling a timepiece without understanding what it is worth first. Understand that if you want to sell your watch for its true value, you are going to need to spend a little time on research and practice a bit of patience.
Naturally, if you decide to have your watch professionally evaluated, it might speed the process up slightly, but it’s still recommended that you have some idea of the value yourself.
How to Determine the Value of Your Watch
Here are the main factors that you or an evaluator would focus on to determine how much your timepiece is worth.
The Make and Model.
This is probably one of the most obvious factors that play a role in the value of your watch. There are certain brands that maintain their value regardless of how old they are – Rolex being one of them. Brands that are known for their limited edition watches or complex movements also tend to have higher values.
Condition of the Timepiece
A brand will not mean much if your watch isn’t in a good condition. If the exterior is severely damaged or important components are missing, the value of the timepiece drops immediately. In some instances, even a minor scratch can affect the value. When your watch is evaluated, both the physical and functional condition is assessed. The end result is a condition grade, which will place your watch at a specific price point.
The exceptions to this are military watches and some vintage watches. A good example is the Rolex 1675 GMT Master 1275 – a 50-year-old watch with a faded bezel and marks on the case from daily wear. As long as the dial and hands are original, it is more valuable than a watch of the same age with a service dial and hands, and possibly a new bezel (Even if the bezel was fitted during a service by Rolex). Naturally, the watch still needs to be in good working condition.
Patina refers to a watch’s natural ageing process, which alters the appearance of the hands or dials of the timepiece. Believe it or not, patina is a good thing because collectors believe it adds character. If signs of ageing have affected the functioning of the watch in any way though, it will not be worth as much.
Watch Box and Paperwork
If you still have the original box and paperwork that came with the watch, this will have a positive effect on its value. This includes the warranty card and any certification cards. The importance of the box and paperwork also depends on the watch brand and age.
Watches that are difficult to come by may be worth more. If you have a limited edition or production run from a renowned brand, it will more than likely increase the value quite dramatically. Naturally, the watch should still be in good condition and meet the other above-mentioned criteria.
The higher the demand, the more a timepiece is worth. Authentic watches that still have their original markings and serial numbers are also more valuable. With a bit of research on watch trading sites, you can easily find out which watches are currently in high demand.
The Celebrity Factor
Own a watch that was worn in a movie or by a well-known celebrity, this could end up increasing its value. Watches such as those worn by characters such as James Bond are particularly popular.
Lastly, one of the final factors that determine how much your watch is currently worth is the market. Spending some time on auction or reseller sites can tell you a lot about what your watch, or similar watches, are currently selling for. Even sites such as eBay can be a valuable source of information.
Now that you have a better idea of the factors that determine the value of your watch, you can decide whether selling it would be worth your while. If you would prefer to also get a professional opinion, contact Martins of Glasgow about an evaluation.