There are plenty of reasons to sell your used watch but when is the right time and what is the right reason? For some people moving on from a watch is difficult and for others it’s just a means to an end. Personally I tend to grow very attached to my watches but I’ve also at one point sold every watch I’ve ever bought. To say the least, it’s a journey for most of us. In this article we’ll explore when does selling a used watch makes sense and when it doesn’t.
When The Market Is Hot
This may be obvious at first glance but in all reality it’s not. With today global crisis, many watch collectors and even private dealers are dumping watches onto the used market. Economics 101 tells us that when demand is down and supply is up, the price will experience a significant drop. We’ve already seen this happen with less established brands and even with some models in the used Rolex market. Keep in mind, if dealers are dumping inventory or planning to do so shortly, they are either not interesting in buying your used watch or will only do so at a price that heavily favors their interests. So if the goal is to buy low and sell high, only be willing to sell your used watch when you can maximize its value in a strong market.
Advancing Your Watch Collection
This applies if you have a one watch collection or many. Let’s be honest, luxury watches come at a premium and not everyone has the ability to purchase them at will. The decision most watch enthusiasts will have to face is to sell their current watch to help them obtain their next one. This decision is easier for some and harder for others. It all just depends on how much you want your new watch. In this scenario, this is where patience pays off. The seller who will wait to find the right buyer typically squeezes more value out of their used watch. This typically isn’t the case in this situation. Most watch collectors can’t fight off that sensation-able itch to make the jump and end up selling their used watch for a decent amount but not benefit as much as they could because they want their new watch now. I totally understand this and have been willing to forego monetary profits for personal happiness.
If You’ve Fallen Out Of Love
It happens, interest fades for some watches by their owners. It’s actually quite common when you think of it. We have different interests, needs, and income throughout all the different stages of our life. What seemed like a great watch at the time has now been eclipsed because you’re used to higher end models. Or you’re not as young as you used to be so all those sport watches that you’ve beat up for years have lost their lustor and you now crave a more elegant collection. I’m a big believer in owning watches that bring happiness and joy. If you fall into this category, why not sell your used watch to someone who can get more satisfaction out of it.
When You Fall On Hard Times
At the end of the day a luxury watch is just a luxury watch. Some people like to think of them as the coolest savings account on their wrist and they are not wrong. For most, it’s not a matter of if but a matter of when hard times come. If you are unfortunately ever in that situation, it wont be easy but you’ll have to evaluate your wants and needs. Kids, family, shelter, and food should come first for men. During hard times you may not get full value for your used watch but you’ll be getting a significant amount back that’ll go a long way to getting yourself back on your feet.
If You Have Too Many Watches
Some of you may laugh at the idea of having too many watches and I can kind of agree. As funny as it may be this is completely a perfect time to sell a used watch. Chances are that if you have a large watch collection you’re not stopping anytime soon. It is also probable that you have too many watches to actually wear. My mindset when it comes to collections is less is more. Owning a couple nice watches that you can enjoy wearing is better than having too many that never get any wrist time. In either scenario, condensing a collection through the sale of the used watches that don’t get worn will allow you to improve the collection or make it a little easier to choose which watch to wear for the day.
