Wristwatches have never lost their value, even in an era where people are no longer dependent upon their wristwatches to check the time while on the go. And when we say wristwatches, we don’t mean the modern fitness watches; we refer to those old-style watches with hour, minute, and second hands. And with wristwatches becoming timeless, luxury watches have become one of the best investments you can by Cheshire Chrono Solutions.
But most people forget about the luxury part while trying to sell their watch, which can keep you away from getting the right price for your watch. There might be many types of luxury watches in the market, but the first name that always pops up in our mind is Rolex.
Online platforms like eBay are best for selling electronics, gym equipment, and other less valuable items, but when it comes to selling your Rolex, then you should not choose this common platform. Instead, you can watch experts who deal even in jewelry items.
In this blog post, we will discuss all that you need to know about selling Rolex watches, along with the importance of its model number and serial number.
Here are the important considerations you should never miss before selling your Rolex diamond watch.
Hidden commission in the auction
Along with the online vendors that deal, especially in watches, you also have the option of selling your look in an auction. And we don’t mean eBay here; we mean the real auctions are happening in major cities.
Selling your Rolex watch in an auction might seem like the best option as it looks hassle-free and easy, but there are many kinds of commissions involved in the auction process, and this might affect your profit negatively.
In the auction, the buyer’s commission is around 15-25% of the selling price, and the commission for the seller is about 10%-15% of the actual selling price. Both of these can affect the final price that you take home. And after adding the photography, insurance, and shipping cost, you won’t be able to save much.
Box and papers
Every Rolex diamond watch comes with a proper box and paper, and these are the two items that you should never mishandle. They are used for authenticating the eyes, and by keeping these two items in the right condition, you can ease the never of all the potential buyers. In some cases, you might get into a position to demand higher prices just because of the box and paper.
Why are serial numbers and model numbers necessary?
Before buying any Rolex watch, the potential buyers check various facts related to it to ensure it is worth their investment. But if you fail to provide the model number of the Rolex diamond watch, then the potential buyer can’t investigate these facts, and thus their chances of buying the watch reduce.
This is why the model number is necessary. With the right model number, you can attract more buyers, give them all the information they need, and even bargain for a high price. Most Rolex owners are aware of the importance of the model number, even if they are not planning on selling the watch.
Unlike the model number, the serial number is unique to every Rolex watch. The buyers of luxury watches use the serial number as the best tool for finding whether the look is authentic as other parameters are not that useful.
But suppose you hand over the entire serial number. In that case, many replica makers can use the serial number of your watch for their replica as they even stamp their images with the original serial number of Rolex watches.
Although providing the serial number is crucial as it eases the buyer’s nerves and keeps them away from using the guesswork. But instead of mentioning the real serial number, you should use only a few digits of the serial number and mention the remaining numbers as ‘XXXX.
Pricing your watch
There are a few things that play a crucial role when you price your watches, like model number, serial number, the current condition of your eye, type of bracelet, and market value. All these factors together decide what price your Rolex watch deserves. You can’t just put a price tag on your Rolex watch based on your instinct and expect to get the same amount.
Selling a Rolex watch and getting the right price is not rocket science as all that you should know is the different aspects of your Rolex watch and choose the right platform for selling it. Use this blog post as a guide for pricing your Rolex and getting the best deal on your Rolex watch.