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Wondering what is the best way to sell a watch? You may be considering consignment as an option. We take a deep dive into selling watches on consignment and answer all of your questions.
For clients in the UK, we offer a sale-on-commission service for
your watch, called consignment. Our fee is 15%, dropping to
below 10% for pieces of higher value.
For those considering selling a pre-owned luxury watch, whether it is the Rolex you simply never wear or your Omega given to you as a gift, you will most likely be doing some research into the best way to sell your second-hand watch. When considering selling vs. consigning, it is important to take a closer look at how consignment works in order to identify if this is the best fit for you. We take a look at how to sell luxury watches on consignment and the realities of doing so.
Advantages
The good news is that it is possible you may be able to raise more cash by selling your luxury watches via consignment. This is dependent however on the sale price and the percentage of this that the jeweler will charge.
Consignment enables you to reach a targeted audience who are actively looking to buy high end, luxury timepieces and sell for closer to the retail price of your watch.
Disadvantages
The main drawback when selling watches on consignment is of obviously time. It is unlikely that the sale will go through in a matter of days. You are essentially waiting for the right person, on the market to buy that exact watch at that price, to walk past that exact store.
It can take months or even years and there is no guarantee that it will sell. People regularly look into consigning luxury watches but soon find out that it is a long process with no guaranteed sale. Ultimately the store is only as good as its marketing. You will be looking for a successful store that you are convinced will be able to make the sale on your behalf.
There is the question of trust to be considered. Your luxury watch is being handed over to someone else and there is always the chance that your timepiece could be damaged or that the store could shut down. When consigning luxury watches, you will want to make sure to find a trustworthy and financially stable store to work with.
You are effectively partnering with them so do not simply opt for the jewellers who offer the lowest commission and are willing to ask for the highest selling price. Your priority should be instead on locating a jeweller that is reputable, professional and dependable.
Given that selling via consignment can result in a lengthy process whereby your watch does not sell months or even years, this is not the right fit for those who are looking for a quick solution.
If you need to generate money immediately, then selling your watch to specialist watch buyers will be the quickest solution. Online watch buyers offer the best price for your luxury watch and will help you get the sale finalized in a matter of days. Sell your watch in as little as 24 hours to Regal Jewellers.
About Regal Jewellers
Regal is a leading online buyer of diamonds, jewellery and luxury watches.
Our office is based in Hatton Garden, London. We work with hundreds of customers on a daily basis from around the globe. Our fast, secure service allows you to sell your luxury pieces online or in person with no fees or commissions deducted.
Where can I sell my Rolex watch, near me or online?
If you decide to sell your Rolex watch, you have plenty of options available when selecting a watch dealer, but they are not all equal! The worst thing you can do is visit a pawn shop or jewellery store, as their offer is bound to be one of the lowest you will receive – this is because traditional “bricks and mortar” retailers have high overheads. They also lack the specialist knowledge required to accurately value your Rolex.
At Regal, we are solely focused on buying pre-owned Rolex watches. We have specialist Rolex watchmakers on staff ready to provide their expertise on every purchase.
Furthermore, thanks to this expertise, and our channels into the Rolex reseller market, we are able to offer some of the most competitive Rolex watch valuations.
Is there a best time to sell my Rolex?
Rolex watches are popular all year round, so you will always receive a good price for your watch, no matter when you choose to make the sale. But if you are looking to maximise the amount you receive, then it is best to look to sell around popular gift-giving seasons, such as at Christmas. This allows you to capitalise on the higher seasonal demand.
What should I do if I notice condensation or water under the watch glass?
Please contact an authorised specialist retailer immediately. They can dry out your watch on site and determine whether the moisture or water has already caused damage to the movement.
When will I get paid?
We will transfer the money to your bank account the same day. It should be available in 24 hours.
We are your premier jeweller situated in the renowned Hatton Garden of London. Our expertise lies in crafting custom engagement rings, featuring both certified natural and lab-grown diamonds, wedding bands, and a diverse selection of luxury watches. At the core of Regal is a fervent dedication to delivering unparalleled customer service, coupled with impeccable craftsmanship and competitive pricing. Our commitment extends to understanding and fulfilling each client's unique desires and needs, ensuring the utmost care in every interaction.