For many people, watches has an intrinsic value that can’t be put into any dollar amount. Whether it’s because of how it makes you feel, the story behind the watch, or simply because you can’t imagine life without it gleaming on their wrist. In some cases, watches are seen as an investment where you can buy and make a profit later. If that’s the case, it’s important to understand the value of your watch. While a quick Google search can give you a rough estimate and dollar amount, the reality is that many factors determine the value of your watch. While most jewelers can appraise your watch, the safest way to avoid being duped is to be familiar with the factors that professionals base their appraisal on. In this article, our experts at SellMeWatch.com outline the main factors when it comes to determining the value of your watch.
For beginners, the first and most important step is to identify the watch. You’ll need to identify the: brand, manufacturer, specific model, serial number, the year it was manufactured, size, colors, and materials. Without this information, it won’t be possible to get a true understanding about the watch’s worth. The more detailed information you have, the better you will be able to assess your watch.
The authenticity of your watch has the biggest affect on your watch’s worth. Due to the high demand many premier watch companies such as Rolex and Cartier, counterfeiting has been become a big issue. Simply put, if your watch is not authentic, there isn’t a big market for it and the watch doesn’t have any significant value. In order to understand if your watch is authentic, you need to do research, observe the details of the watch, and then compare. Originality is also very important. The closer the watch is to when it came out of the factory, the higher the value will be, as collectors always seek original watches. Has the watch been maintained with original parts, or have the hands and glass been replaced with cheaper alternatives?
Once you’ve identified your watch and made sure that it’s authentic, you’ll need to look at the materials. Although some watches are worth more than other watches regardless of materials because of rarity, the general rule of thumb is that gold watches are more valuable than stainless steel watches, platinum watches are more valuable than gold watches, and diamond watches are more valuable than platinum watches.
While stainless steel isn’t as valuable as other the other materials previously mentioned, the truth is that stainless steel is a lot more durable and can last a lot longer. The condition of a watch is very significant in determining the value of a watch. First off, is the watch in working condition? A non-working watch can potentially require a great deal of repairs, severely impacting the value. When the watch ticks, is the sound sharp or does it sound like it is dragging along? Secondly, how does the external surface of the watch look? While a quick polish can bring a tarnished watch back to life, dents, cracks, and bent hinges are a lot harder to fix and therefore can bring a decrease in value. Finally, rust on the outside is a big no-no as it can point to rust inside the watch which would prohibit the movement from functioning properly.
One important thing to understand when determining your watch’s rarity, is that old does not mean rare! What rarity really depends on is demand. Many old or vintage watches were manufactured in high volume way back in the day, which brings the value down. This is another factor which requires some research on your part, not only looking if there are a lot of that watch being sold right now, but also seeing how many of that watch were manufactured and produced originally. Unique characteristics also make a watch more rare. For example, if you have a limited edition of a watch with a dial that has a different color than its predecessor , this can make your watch rare and drive up the price.
Given all the other factors which will help you understand your watch and its value, one separate factor which also has to be considered is the current market. As certain watches or styles have a resurgence and become fashionable or popular again, the demand for them increases, adding value to your watch. Alternatively, if not many people are wearing the style of your watch and it’s not necessarily a hot-item, you won’t be able to sell it for as high a price.
By understanding these concepts, you will be able to more accurately assess the value of your watch and in turn, understand why it is valued at a certain price by an assessor. At SellMeWatch.com, we strive to give as much information to our customers about why we quoted the watch at a certain price. In addition to selling for outright cash, we also have other options such as trade-ins. This is why after 25 years we have created a loyal customer base. For more information, or to get a quote, please feel free to call us at 1-888-429-0888 to speak with one of our experts, or log on to our website at SellMeWatch.com.