Did you know that the most expensive watch sale in the world was a Patek Philippe Grandmaster Chime for $31 million?
If you’ve recently come into possession of some old watches, or are just curious about the one in the back of your closet, then you might be curious how much is your watch worth.
While your watch likely won’t sell for millions, it’s still a good idea to know how much value you’re carrying on your wrist every day. Whether you’re looking to make a watch investment, sell your watch, or just get some more information, we’re here to help.
So keep on reading and we’ll show you how to value your watch.
Brand
As you might assume, one of the most important factors in determining the value of a watch is going to be the make and model. A high-end luxury brand, like Omega or Rolex, is going to have a relatively high value, no matter how old the watch is.
If you have a watch from a well-known brand that is a limited edition or has complicated movements then it will likely be worth more than the average luxury watch.
Overall Condition
Just like how you would get an appraisal on a used car, you’ll need to consider the amount of wear and tear on your watch. A working watch is also going to have more value than one that’s stopped ticking.
If your watch is missing an element or you’ve had an original part replaced then the value is going to lower. A minor dent, ding, or scratch can also knock off a good amount of worth.
When it comes to condition, you want to consider the functional condition and the physical condition.
When you are trying to evaluate the watch’s physical condition, the surface needs to be checked for imperfections. You’ll want to check bracelet surfaces, case surfaces, crystals, and any coatings that have been applied to the crystals.
After you do this evaluation, all of the dings, scratches, and nicks will help you come up with a more accurate value.
When it comes to the functional condition, you need to check on the movement timing, movement complications, and the watch’s clasp.
Patina
Does your watch show cosmetic aging? Believe it or not, a watch that looks old could actually end up selling for more than the same one that looks brand new.
If you’re a collector of watches and you get a watch then you want people to be able to tell that it’s aged.
These should just be cosmetic aging though. If the watch doesn’t work well then its value will surely fall.
Box and Papers
Whenever you’re dealing with a collectible, it’s helpful to have the original box and paperwork that it came with. For a watch, the paperwork is going to include the warranty cards and a certification or reference card.
Both of these cards originally ship with the watch and tend to include specific information for the device. This includes the watch’s model number, reference number, or serial number.
Many people will throw out the watch’s box and paperwork, deeming those items a waste of space. If you have a valuable watch, you’re almost guaranteed to be leaving money on the table if you don’t have these original items.
With less valuable watches, it usually isn’t that big of a deal if you don’t have the box and papers.
Demand and Authenticity
A luxury watch price won’t just go straight up over time. It changes with demand. Your watch might be back in style for several years but it may go back out of style.
If you see that there’s a lot of demand for a watch that you currently own then you might want to consider selling your watch before demand drops off.
You also need to make sure that your watch is authentic. If you didn’t buy it from a reputable vendor then there’s a chance that it’s a fake.
Pop Culture
If your watch was featured in a hit film or was recently found on the wrist of a celebrity then it will probably go up in value.
Omega saw its revenue go up more than forty percent after James Bond wore one of their watches in No Time to Die. Do some research and see if there are any celebrities or characters who wear your watch.
Comparable Sales
One of the best ways to determine the value of your watch is to find comparable sales. Go to sites like eBay or specific watch sites and look up the make and model that you own.
Of course, you might not be able to find a watch in the exact same condition as the one you own. But by looking up similar watches, you can get a good sense of what your watch’s resale value is.
How Much Is Your Watch Worth?
Hopefully, after reading the above article, you now feel that you have the tools and knowledge to tell how much is your watch worth. As we can see, there is no exact science to figuring out the value of a watch. But by following these tips you should be able to get a fair value on your watch investment.
Are you looking for other interesting and useful content like this? If so then make sure to check out the rest of our blog today for even more!
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