How to Know the Value of Your Watch?
If you own any luxury watches you may have noticed that the secondary market has been skyrocketing! Long lines and waiting lists possibly stretching decades have eager buyers scrambling to pay higher and higher prices in the secondary market. Are you wondering if now is the time to sell your watch to take advantage of the rush?
Determining True Value
Contrary to popular belief the price of precious metals has absolutely nothing to do with the value of a luxury watch. While it makes logical sense to presume that an increase in the price of gold will raise the price of a watch made with gold, this assumption doesn’t hold up in practice.
Watches are valued based on the collectibility of the brand and individual complication itself. For example, you can buy most Holy Trinity brand Vacheron Constantin complications at a discount to retail, but the Overseas complications trade at a significant premium.
But what if you don’t follow the trends and whims of the watch market, how can you know you’re getting a good deal if you’re looking to sell watches in Chicago?
By compiling a listing of closed secondary market sales and then speaking with a reputable dealer, you can feel comfortable knowing that your watch should be fairly valued.
How to Sell Watches in Chicago