When you sell a luxury watch, a professional buyer looks at more than the name on the dial.
Establishing exactly what the watch is, confirming its authenticity and assessing its condition and originality are all important parts of the process. The buyer also needs to understand how that particular watch sits within the current pre-owned market.
Here’s what typically happens when a luxury watch is assessed.
Identifying the Exact Model and Reference
The first step is establishing exactly what the watch is.
Brand and model are only part of the picture. Individual references can differ by production period, materials, dial, bracelet, movement and other specifications.
These differences can be particularly important with brands such as Rolex, Patek Philippe, Audemars Piguet and F.P. Journe, where different references of the same model can attract different levels of collector interest.
Correct identification gives the buyer the right starting point for assessing the individual watch.
Checking Authenticity
Authenticity is fundamental when assessing a pre-owned luxury watch.
Depending on the watch, this may involve examining identifying numbers, the case, dial, movement and other components to determine whether they are consistent with the model and reference.
Documentation can assist with the process, but the watch itself still needs to be assessed.
At The Watch Buyer, our watchmakers assess and authenticate watches as part of the process.
Assessing the Condition
Condition isn’t simply a question of whether a watch has a few scratches.
A buyer may examine the case, dial, crystal, bezel, bracelet or strap and movement. Normal signs of wear are expected on many pre-owned watches and don’t automatically make a watch undesirable.
The important consideration is the overall condition of the individual watch, taking into account its model, reference and age.
Looking at Originality
Originality can be especially important when assessing collectible and older luxury watches.
A watch may have had components replaced during servicing, been refinished or polished, or have aftermarket parts fitted. These changes don’t necessarily mean a watch can’t be sold, but they need to be identified during an assessment.
For some references, collectors place particular importance on original components and configurations. This is another reason why the individual watch needs to be examined rather than assessed using a general online estimate.
Reviewing Box, Papers and Provenance
Original packaging and documentation can provide useful information about a watch.
Depending on what is available, this might include the original box, certificate or warranty papers, purchase documentation and service records.
A complete set can be desirable, particularly for certain collectible watches, but a watch doesn’t necessarily need its original box and papers to be sold. The importance of these items varies according to the individual timepiece.
Assessing the Current Market
Assessing the watch itself is only part of the process. A professional buyer also needs to understand the current market for that particular model and reference.
Collector demand can change over time and different references from the same brand may perform very differently in the pre-owned market.
Online asking prices don’t necessarily tell the whole story either. An advertised price shows what a seller is asking, rather than necessarily reflecting what comparable watches are currently selling for.
The assessment therefore brings together what has been established about the watch with current market information.
What Happens After Your Watch Is Assessed?
Once the watch has been identified and its authenticity, condition, originality and other relevant details have been considered, an offer can be made based on the individual watch and current market.
At The Watch Buyer, we purchase luxury watches directly rather than consigning them for sale. If you’re considering selling, you can start by providing details and photos of your watch for an initial assessment. The watch can then be inspected and authenticated before the sale is completed.
Frequently Asked Questions
Do I need the box and papers to have my luxury watch assessed?
No. Watches can still be assessed without their original box and papers. Documentation can be useful and may be relevant to the assessment of some watches, but it isn’t essential in every case.
Can a watch with replacement parts still be sold?
Yes. Replacement or aftermarket components don’t necessarily prevent a watch from being sold, although they can be taken into account when assessing its originality.
Why does the exact watch reference matter?
Different references can have different specifications, production histories, availability and levels of collector demand. Correctly identifying the reference helps establish exactly which watch is being assessed and the relevant market for it.
Can I get an initial assessment from photos?
Yes. Photos and information about your watch can be used for an initial assessment. A physical inspection may then be required to confirm its condition, authenticity and other details before completing the purchase.