by
Admin
|
August 26, 2024
If you bought a watch and never wear it or just really need some extra cash, we understand why you might want to know where to sell watches. Selling a watch can be a great way to declutter and make some money. In this guide we will explore the various places you can sell your watch and the pros and cons of each, helping you choose the best option for your needs.
Before you even think about trying to sell your watch you should find out how much your watch is worth. If you don't have the original box or papers for your watch you might have trouble selling for the full price or even selling at all unless you can get a professional to appraise it. A watch professional will look at the watch and determine its worth. Then after they figure out the watch's value they will give you some documents with information on the watch and its value that you can use when trying to sell your watch. Having that information makes it so much easier to sell a watch, at a good price too!
Pros: Working with a reputable place like eBay is always a good way to get that extra seller protection. They can also guarantee lots of exposure and advertising, helping you get your watch sold quickly and easily. Along with the marketing bonuses eBay also has a large audience of people, if you feel like you don't like a specific buyer's reputation you can refuse them and choose a more trustworthy option.
Cons: Like every selling option, eBay has its flaws. It's commonly known that they tend to have a lot of selling fees. Some that the seller has to pay before they even get their watch on the page. Then after the product is sold there are more fees for the shipping and packaging process. Meaning if your watch was sold for 12K and they take more than 15% of the money it sold for then you will have made 1,800. Remember the fees do change depending on the item and the price of the item. If you are ok with some fees eBay can be a good choice for you.
Pros: For the most part, selling on the Facebook Marketplace is relatively easy. There is no fee for selling watches on Facebook and if you make sure to sell to someone in your area you won't have to deal with shipping. Meaning, you won't be losing any of the profit.
Cons: It may be harder to find an audience for more high-end watches, also selling a watch on the Facebook Marketplace could take a few weeks to a year if you even get a buyer at all. Or you may get “buyers” galore who actually just want to scam you. On the other end of the spectrum, you might get a buyer who says that they want to purchase your watch but then ghosts you entirely when it comes time to meet or discuss costs.
Precautions: It's very important to be careful on websites with no seller protection, when meeting make sure to meet somewhere safe like a crowded restaurant or outside a police station. Make sure they pay in a way that makes it harder for them to scam you, try cash, PayPal, or wire transfers at the bank. If they choose checks cash them in before they leave in case the checks bounce. Meeting them at a bank is another smart meeting place, it allows you to make sure the money goes through before they leave with your watch and possibly money. Before meeting them let your friends or family know your plans, that way if you are gone for an excessive amount of time your friend can call the police and have all the information they need to find you.
Pros: If you want a quick way to get cash and are looking for where to sell watches, pawn shops are the best option for you. You can walk in, sell, or pawn your watch get the money, and walk out. If you choose to go the loan route the pawnshop will give you the money your watch is worth and if you return the money (plus interest) in the time allotted you will get your watch back. If you choose to sell, pawn shops don't ask you to pay any fees. The amount they buy it for will be the amount they give you. This is the best option for those who want fast cash completely hassle-free.
Cons: You may not like the price they will take it for, if you don't have enough proof that it is a decent (designer) watch they might not even take it at all. It also depends on the condition in which the watch is in, even if it's a name brand if it's not in mint condition they might pay you less. Pawn shops also don't like items that are not currently selling, even if it is a Rolex. Don't worry though, pawn shops generally will take most watches, and for a pretty decent price. Just be aware of these things as they can determine how much they will buy the watch for or if the pawn shop will take your watch at all.
Pros: Selling a watch at an auction increases the chances of it being sold, for a good price too. Plus you won't have to worry about the selling process at all, you will have all the seller protection your heart desires.
Cons: The process of applying to have your watch sold at an auction is a pretty long one though, and it can come with some pretty heavy fees. Then once it is sold you may not get your money until 30 to 45 days after it was sold.
Knowing where to sell watches can help you make the most out of your timepiece, whether you're looking for quick cash or the best price. Each selling method has its advantages and disadvantages, from the security of eBay and the local convenience of Facebook Marketplace to the quick transactions at pawn shops.
