Unlike many other accessories, luxury watches are often slow to depreciate in value, and in some cases can be worth much more than they were when they were purchased. Luxury watches have a “collectibility” factor that helps them keep their value, and even watches that aren’t incredibly collectible can fetch a high price upon retail simply because they’re from a brand that is considered highly desirable. So, if you’re thinking of selling your luxury timepiece, remember that it is likely worth more than you think.
Luxury Watches That Are Worth the Most
When it comes to luxury watches, brand strength makes a huge impact on its resale value. The five major luxury watch brands (Rolex, Tag, Breitling, Omega, and Panerai) are a great example of watches with higher value that are much easier to sell at a good price. Recently, Patek Philippe watches have also begun to fetch high resale prices, thanks to the cult following the brand has earned among collectors.
What Affects Luxury Watch Depreciation?
As we mentioned in our last point, brand strength is a major factor in determining resale value. But another thing that affects luxury watch depreciation is whether the watch is a women’s or men’s design. Men’s luxury watches tend to depreciate less quickly than women’s, for whatever reason. We’d speculate that men are less picky about buying pre-owned watches, and that affects their resale value.
Another thing that can affect luxury watch depreciation is the original release date of the watch. If a watch was purchased more recently, it has had less time to depreciate and will, therefore, have more value upon resale.
Watches That Increase In Value
While standard luxury watches will likely depreciate in value over time, even if by only a small amount, certain watches have actually increased in value over time. The main factor that causes certain watches to increase in value is their collectibility and rarity.
Certain vintage watches are in high demand among collectors at the moment, due to the exclusivity of owning a rare piece. For example, vintage Cartier Tank Cintree watches will fetch a high price, as will vintage versions of the ever-popular, extremely rare, Rolex Daytona Cosmograph “Paul Newman” watch.
How To Get The Best Price For Your Luxury Watch
While there are many different ways to sell your luxury watch, some are better than others. It may seem easy to sell your watch on craigslist or eBay, but those methods are unlikely to fetch you the best price for your watch and may put you at risk of being targeted by scammers.
The best way to sell your luxury watch, safely and for the highest possible price, is to sell to a dedicated luxury watch buyer like Sell To Stein. When you sell to Stein, you also get the security of knowing that you are selling to a reputable company that will not change their mind about buying your watch and is sure to pay you in full for your timepiece.