Value of a watch on the second hand market

[prodigy75]

Hi,

Apart Chrono24 whick tools you use to know the value of a watch ?

Thanks

[beachboy17]

Use Chrono24 as a tool, showing you the range of asking prices for a watch. Not appraised value. And just because they ask that price doesn't mean they sell it for that price.

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[SLWoodster]

Contact any major grey dealer, ask them what they will buy it for, that's usually your price floor.

C24 prices are wildly inaccurate.

Originally Posted by prodigy75

Hi,

Apart Chrono24 whick tools you use to know the value of a watch ?

Thanks

[Rolex1982]

Chrono24 and https://watchcharts.com/ as indicators. Contact dealer and ask for buying a watch and see what they say.

[prodigy75]

thanks

[996marty]

Chrono has prices all over the place and isn’t the best guide as to what something is worth or would sell for but at least it’s a start

[padi56]

Originally Posted by prodigy75

Hi,

Apart Chrono24 whick tools you use to know the value of a watch ?

Thanks

The value of anything is what someone is willing to pay for it.

[nighthawk77]

eBay can often be a good indicator - you can filter sold items to see some recent final sales values.

[GB-man]

Join moda. Subtract 10% from prices you see there.

[taitun4life]

Originally Posted by gb-man

join moda. Subtract 10% from prices you see there.

+1

[brandrea]

You get a pretty good idea of what watches are selling for by looking at the sales listings of our trusted seller on this forum.

If you’re planning to sell private take off about 10-15%. If you’re selling your watch to a gray dealer take off about 30%.

[1William]

Originally Posted by brandrea

You get a pretty good idea of what watches are selling for by looking at the sales listings of our trusted seller on this forum.

If you’re planning to sell private take off about 10-15%. If you’re selling your watch to a gray dealer take off about 30%.

This the answer and the numbers based on my personal experience.

[wesdaniel]

The three tips pointed out here:

* Watchcharts - This gives a lot of detail, but, in order to really get much benefit, you probably need a paid membership and that's not really worthwhile unless you're doing this for a living.

* Moda - This gives a good idea of what watches are trading for within a smaller, watch-focused community.

* Ebay - This is really your best bet (keeping in mind that you have to reduce your net by the amount of selling fees and transaction fees, so, probably 7% - 10% depending on selling price). Filter by sold items and it will give you some really good insight. As an example, we see the M.A.D. 1's listed for crazy amounts, but, when you look at actual sale histories, you see that the blue ones sell at decent prices and green sold with a bit of markup right after release, most of them are well under $5K (I paid $4,300 including tax on mine through ebay).

Chrono is worthless other than telling you what people are asking for watches. Looking through sale threads here gives you a good idea of what people are asking, but, not what final selling prices are. Also, unless you're a trusted seller, you're probably not going to come close to the prices here. Best of luck to you!

[INC]

Originally Posted by wesdaniel

Chrono is worthless other than telling you what people are asking for watches.

I do not want to argue you, because I understand your point and I am agree on you why you wrote this. However, even in this circumstances, I do not agree with your conclusion! Chrono24 is quite good to estimate:

- the customers' need for a particular watch or for watches in general
- the very maximum asking price
- the quantity of available watches on the market.

Based on this, what I figured out that:

- the offered watches are advertised in general about 25-30% higher, then the price, what anyone would pay for a watch.
- you can see how many need is out there for a particular watch.
- and just for fun: They makes a lot of businesses, as there a lot of rookies who purchases these watches for the asking price after a "hype".

Based on the above, as far as I can see, Chrono24 is a good indicator for the reasonable market prices.

[offrdmania]

A selling price is never an indicator, its the sold price that you want to go by. I can ask whatever I want but the market will depict what it sells for.

[EEpro]

Get a quote from reseller to purchase. Add 5-10%.

[VintageVagabound]

Originally Posted by EEpro

Get a quote from reseller to purchase. Add 5-10%.

I would disagree with this one. Most offers will be pawn shop prices like $5700 for a five digit sub or penny’s on the dollar for non-Rolex models. Maybe they’ll offer $500 for a Tag that they’ll list for $2600.

[EEpro]

Originally Posted by VintageVagabound

I would disagree with this one. Most offers will be pawn shop prices like $5700 for a five digit sub or penny’s on the dollar for non-Rolex models. Maybe they’ll offer $500 for a Tag that they’ll list for $2600.

Your opinion. My comment is based on actual experience with Rolex and VC references. What they'll pay and what you can get selling it yourself aren't that far apart.

Nashville watches. Takuya. OC. Not pawn shop offers.

They get their trading prices from places like MODA so if these guys are valuing your watch at $5700 then that's because it's a $5700 wholesale watch they can sell for $6700 or so.

[subtona]

Originally Posted by prodigy75

Hi,

Apart Chrono24 whick tools you use to know the value of a watch ?

Thanks

average price on Chrono24 minus 20% generally gives you a fair market price.

[TunaTuna]

Originally Posted by brandrea

You get a pretty good idea of what watches are selling for by looking at the sales listings of our trusted seller on this forum.

If you’re planning to sell private take off about 10-15%. If you’re selling your watch to a gray dealer take off about 30%.

I find now a days the dealers on this forum list at some of the highest prices on the market. No bargains here anymore, but there are sometimes good prices. Sometimes.

Moda is definitely the place where you see where prices are going.

[wesdaniel]

Originally Posted by INC

I do not want to argue you, because I understand your point and I am agree on you why you wrote this. However, even in this circumstances, I do not agree with your conclusion! Chrono24 is quite good to estimate:

- the customers' need for a particular watch or for watches in general
- the very maximum asking price
- the quantity of available watches on the market.

Based on this, what I figured out that:

- the offered watches are advertised in general about 25-30% higher, then the price, what anyone would pay for a watch.
- you can see how many need is out there for a particular watch.
- and just for fun: They makes a lot of businesses, as there a lot of rookies who purchases these watches for the asking price after a "hype".

Based on the above, as far as I can see, Chrono24 is a good indicator for the reasonable market prices.

Except that a substantial number of watches on Chrono aren't even watches that are in a seller's hands. There are a number of sellers who post watches they don't have at ridiculous prices to fish for views, contacts, calls, etc.

I'm not sure how you can use a selling forum (C24) to see the "need" on the buyer side - especially one where there are so many phantom watches listed.

Agreed that there are some number of people out there who buy watches from C24 for inflated prices, but, that doesn't serve to establish the value of a watch or what one might expect to get selling a watch unless they get extremely lucky.

OP's original question was tools to know the "value" of a watch. The value is only what a willing buyer will pay a willing seller which can only be established by looking at actual transactions - which C24 doesn't show.

[Calatrava r]

To me a watch is worth what a competitive used watch dealer who regularly trades in the type of watch will pay me for it. Call one and you have your answer. Private selling a watch is difficult if your new at it and frankly not worth the hassle. An exception would be a local sale to someone you know.

[Rolexwatchman]

I think watchcharts or watchereacon does that.

[INC]

Originally Posted by wesdaniel

I'm not sure how you can use a selling forum (C24) to see the "need" on the buyer side - especially one where there are so many phantom watches listed.

That's correct. But in the same time, you are able to create your own watchlist, so you can follow the market. Also, there is a chart for the prices of the models, so you can see where the market goes, up, or down. With these two tools, way you can follow particular offers and even the number of the sales. Of course, this takes time.

Agreed that there are some number of people out there who buy watches from C24 for inflated prices, but, that doesn't serve to establish the value of a watch or what one might expect to get selling a watch unless they get extremely lucky.

We are agree on this too. However, if you add this to the aboves, you will see, that there is a chance to sell your watch even for that prices, if you have time, and you know, where the market goes.

Accordingly in my opinion:

OP's original question was tools to know the "value" of a watch. The value is only what a willing buyer will pay a willing seller which can only be established by looking at actual transactions - which C24 doesn't show.

I think, no one can give OP a proper answer without knowing his preferences. In my view, it is just like a stock market: there is a spread between the selling and the asking prices. In my experience the differrence is, that for a watch with a huge demand that spread is narrow, while there is an almost impossible to estimate this difference for a non hyped watch mostly because there is no real need out there to purchase that watch. For example in this case to find out the actual market price is nearly impossible.

For example I am following the SS Daytona second hand prices for fun, and it can be clearly seen, that the $17000 offering range gets to be too high even on Chrono24 soon! There are already offers in the $16k range, which prices are still not falls into the term of "bargain, one time only price" range.

Basically this means, that an ASAP price should be somewhere in the $13-$14k range, which sounds so strange, that it is a hard to believe. So I think, this is not the perfect time to be a watch dealer.

[INC]

^^-- mixed up the currencies, no $, but €...

[355F1]

Check the SOLD listings on EBay. That’s the easiest way to find out the actual market value of almost anything.


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[messikens]

Originally Posted by Calatrava r

To me a watch is worth what a competitive used watch dealer who regularly trades in the type of watch will pay me for it. Call one and you have your answer. Private selling a watch is difficult if your new at it and frankly not worth the hassle. An exception would be a local sale to someone you know.

I would agree - I usually tend to either call a dealer and ask what they'd pay me for it and then compare it against what for example another dealer (or as an approximation use a low C24 estimate and take off another 10-15%).

If you use the midpoint of the two numbers you're usually bang on