Selling Your Prestige Watch Online these days has become such a minefield. I always loved watches and been a collector for years, I set up the website 4 years ago to hopefully acquire some nice pieces for the collection also along the way help sellers selling their watches the easy way, face to face in person with hassle free transaction.
The watch market since Brexit has changed so much, As Rolex is one of most wanted and bought watches on the market today, Rolex sports in particular used to be bought from EU at super knock down prices off the list RRP. Rolex over the last 2 years have manged to shut a lot of the big sellers in the EU selling cheap to UK non Rolex dealers in masses (know as grey market). Which that started to push prices for used and new pieces.
Once Rolex combated that then Brexit happened so the pound plummeted against all the currencies worldwide. As since the Brexit process UK now currently is the cheapest place to buy watches all the models wanted are non existent in the Authorized dealers up and down the UK.
Rolex sports models such as Submariner 114060, Submariner 116610LN, Submariner 116610Lv, Gmt Master 2 BLNR, Submariner 116613LB, used to be in the window to buy a year ago, now nearly all the models are waiting list watches some up to 2 years wait!!! But also buyers want them more and more as not available to buy. The Rolex Daytona 116500LN has always been a watch with a waiting and is a ridiculously long list that every man and his dog wants.
Now things have changed so much watch prices from “dealers” trade price for a Rolex and “private price” folk are wanted the private price off a dealer, Due to some of the factors mentioned watches that are new pre-owned unworn private sellers are wanted over list RRP off a dealer. So where does this all end? The big players online are pushing the markets with prices that are eye watering and pushing collectors and other smaller dealers out of the game online also they have the monopoly online.
The other point to note is folk trying to sell on platforms like Ebay find it to hard to sell to genuine purchaser as apart from scammers, shill bidding there is no confidence in selling or buying on Ebay. Shill bidding is where you bid on a item and the seller has friend, family member bid the item up to achieve more money!! So is very difficult to gauge auction end prices as most listings get re-listed due the shill bidding. Buy it now prices can so varied on a watch from up to as much £10.000 difference in prices from one seller to seller. Ebay has always been the platform the gauge a price of any item watches included so how do you come to figure on this platform with such a vast price range that nothing sells!
The big Players online only tend to make offers on watches they only want to purchase, half the time wont even offer or reply to your inquiry as I found speaking to sellers, then want the seller to post a watch done South to await an inspection to come back with a offer that may or may not match the initial offer.
Some times companies will send a pre-addressed special delivery pack so free postage. But most of the time seller have to post the watch on their own back covered with Royal Mail Special Delivery service covered up to £2500, but if watch is valued at more than £2500 Royal Mail policies state “null void” if value is over stated amount £2500. Which means you get nothing if the parcel gets stolen or lost. Crazy but true with Royal Mail unfortunately.
So to sum up overhaul the watch market at the moment is just crazy, how to sell a watch is crazy too so be careful online selling your watch, I am always happy to help with advise on selling, buying! The Watch-Collector Leeds