If you have a Chanel watch that you are ready to sell, there has never been a better time to sell these timepieces. Chanel recently celebrated 30 years of watch matching, as their first watch, the PREMIÈRE, de...
How much is my watch worth?April 12, 2018 - Watch Articles
Factors that affect your watch’s worth:
Certain brands maintain better resell value than others. Rolex, for example, has been successful in retaining their watches value on the second-hand market because they have kept their product line small despite high demand, resulting in collections becoming household names and strong second-hand resell values.
2. Model Number
A watch’s model number indicates the collection that it belongs in. You can find your watch’s model number on its case back. Vintage and limited edition timepieces can be worth more because of demand from collectors. Paul Maudsley, Phillip’s international specialist, explains, “Each year new collectors come on board and gain an understanding of the various specialist collected brands, and the prices rise steadily.” With vintage and collector’s pieces, enthusiasts can appreciate a watch’s rich history.
A watch’s movement, also referred to as a calibre, is the mechanism that operates the watch as well as any complications such as a chronograph or dual time zone. Movements can either be quartz or mechanical, and many luxury watch enthusiasts prefer the intricate and masterfully crafted movements of mechanical watches over quarts. Mechanical luxury watches can consist of hundreds of components, such as gears, gaskets and springs, all of which are delicately crafted and flawlessly constructed. Luxury watch brands pride themselves on designing new and innovative movements which can take months to design and construct. Every component must be assembled skilfully and seamlessly in order to function correctly.
Condition is key to the value of your watch on the second-hand market. Below are the components of a watch that are most prone to damage. Depending on how damaged or well-maintained these components are, your watch’s value will be positively or negatively affected:
- Dial: This refers to the face of the watch and is what displays the time. Time on a dial can be represented with roman numerals, Arabic numerals, sticks or as a combination of thee. A dial can contain subdials which display additional information such as the date or moon phases.
- Crystal: This is the transparent cover that protects the dial. A crystal can be made with plastic, glass or synthetic Sapphire. Most Swiss watches are made with synthetic Sapphire crystal as they are extremely scratch resistant. A broken crystal can cost hundreds of pounds to replace and even if a tiny piece of broken crystal gets into the movement it can cause damage.
- Case: A case encloses a watch’s movement and protect it from the elements. Cases can be made with different metals such as platinum, 18K gold, or titanium and come in different shapes including round, oval or square. If water gets into the case, the damage can be drastic. Getting a water damaged watch repaired can cost as much as the watch’s original purchase price. If you suspect that that water has entered your watch, try to get it fixed as soon as possible to minimize damage.
- Bezel: A bezel is the metal ring that secures the crystal to the watch’s case. Bezels can have functions such working as an additional timing or calculation device. Bezels can easily become damaged during everyday wear.
- Crown: This is a button on the side of the case which allows you to wind the mainspring in the watch and set the time. Crowns can be screwed into the case to avoid water damage and prevent dust from entering the case.
- Strap/Bracelet: These refer to the attachment that secures the watch to your wrist. A strap is made with rubber or leather while bracelets are made with metals such as stainless steel or yellow gold. Replacing a strap can cost hundreds of pounds. If you decide to replace your strap, ensure that you do so with a direct replacement from the brand. Also, before you sell a watch with a bracelet, make sure that you have all additional links as they can cost fifty to hundreds of pounds depending on the metal type.
Our watch expert, Tom Pozsgay, recommends that watches should be serviced every 4 to 5 years. Even if you take the utmost care of your watch, it does need regular servicing. The mechanical pieces will wear over time and some may need to be adjusted or replaced. Just as a car needs oil changes, so does your watch as its oil can dry up. Ensure that your watchmaker has experience with higher end brands, after all, you wouldn’t want your luxury watch to be serviced by someone who only has experience with entry level timepieces. When you get your timepiece serviced by a professional watchmaker your watch will be disassembled, repaired, cleaned, oiled and polished. Be sure that you keep your watch servicing receipts to prove to potential buyers that your watch has been regularly maintained.
6. Box and Papers
These are the box and papers that your watch came in when it was originally purchased. Collectors prefer to buy watches, especially vintage watches, with their original box and papers in good condition. These materials can help you illustrate the authenticity of your timepiece and will help you receive a higher offer.
What is my watch worth?
If you are wondering what your watch is worth, simply fill out our online form for a free watch quote. One of our watch experts will then be in touch shortly with an initial estimate.
Why sell your watch to WP Diamonds? Our process is easy, fast and safe. As expert luxury watch buyers, we work with hundreds of customers from around the world, every day. We pride ourselves on our first class service which has earned us an A+ rating with the BBB and hundreds of positive reviews from customers. Sell online or via appointment at no cost and with no obligation to sell. Our international presence and industry connections allow us to offer competitive prices for your watch, as well as loose diamonds and jewellery. So whether you are selling a Rolex, Breitling, Omega or other luxury watch, click the button below to learn what your watch is worth today.