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26 August 2024, 02:32 AM | #1 |
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Reasonable trade in values using Chrono 24 as a guide
Understanding there could be a great deal of variance here — what would your experience be of a reasonable expectation of trade in values using the Chrono 24 estimated watch value calculations.
Say purchasing from a trusted seller grey market dealer on the TRF and meeting their listed advertised price without negotiating down. Trade value of 90% of Chrono 24? 85%? 80%? Thoughts greatly appreciated. |
26 August 2024, 02:36 AM | #2 |
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I feel it is always off. Go with the lowest priced one of the model you are looking at and deduct another 10%
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26 August 2024, 02:40 AM | #3 | |
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There's your first mistake!!!! Always, negotiate. |
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26 August 2024, 02:57 AM | #4 |
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The trade in value will be based on the wholesale price. The dealer will offer you what they could buy your watch for from their wholesale contacts. In today’s market, wholesale prices are generally much more than just 10% below retail, except for a few pieces that still sell above retail.
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26 August 2024, 02:58 AM | #5 |
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Yes. But if you are planning on trading in - the only number that matters is the delta b/t the selling price and trade in. So I’m trying to establish a baseline for negotiation. It’s like buying a car with a trade in. I’d rather pay 100% of the advertised price if I got 90% of the Chrono 24 estimated value on trade vs. a 20% discount from the seller but only 60% on trade value. |
26 August 2024, 03:03 AM | #6 |
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Which reference are you thinking of trading in? Full kit, condition, year?
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26 August 2024, 03:09 AM | #7 | ||
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Quote:
Quote:
Understood. But I’m not using retail price as a gauge for value but rather market value from Chrono24. For example - what is the best way to establish the wholesale price. And then if I were trading in based on wholesale value- I would expect some negotiation on the sellers listed price. |
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26 August 2024, 03:13 AM | #8 |
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26 August 2024, 03:18 AM | #9 | |
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26 August 2024, 03:31 AM | #10 |
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Look at WatchCharts as well. My understanding is WatchCharts tracks actual sale price while Chrono24 tracks asking price on the platform.
The more information you have, the better. Sent from my moto g 5G - 2023 using Tapatalk |
26 August 2024, 03:31 AM | #11 |
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Let’s say there is a $3,000 profit built into the price of the watch you want to buy. That is not unreasonable for a Rolex in the $12-15k price range. Let’s say you have a watch of similar value, but a different model. The dealer is going to want to get the same $3k profit on your old watch, and he has to allow some $ for inspection and service, so that might mean he’ll offer $4k below the price he will ask for it.
On a Rolex in that price range, that is what I’d expect. It’s just like selling used cars or anything else. |
26 August 2024, 03:43 AM | #12 |
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Start speaking to dealers and let us know how you get on. We can only guess and it would be useful to get some real feedback.
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26 August 2024, 03:48 AM | #13 |
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+1.
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26 August 2024, 03:51 AM | #14 | |
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26 August 2024, 03:54 AM | #15 |
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In my experience, you end up selling privately for about 20% less than the C24 price.
If you’re selling to a gray dealer it’s more like 30-40% depending on the reference |
26 August 2024, 04:13 AM | #16 | |
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That’s been my experience as well. I sold my 214270 privately for 40% more than what the dealers offered me. |
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26 August 2024, 04:13 AM | #17 |
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26 August 2024, 04:20 AM | #18 |
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26 August 2024, 04:25 AM | #19 |
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26 August 2024, 04:40 AM | #20 |
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Reasonable trade in values using Chrono 24 as a guide
I think it will depend on local markets and how much of a safe bet/risk it is.
For example, a clean gmt ii will be an easy sell at the right price but something like a Yachtmaster less easy. So I think prices will reflect that. I’d expect a bigger difference in some of the popular On here but less popular with the general public. I also think some dealers are absolute jokers in how much profit they want -£1500 for a sub, 2.5 k for a gmt etc. these are the kind with YouTube channels whereas the “old school” dealers who have been in business decades can see the bigger picture and value long term customers over the here and now. |
26 August 2024, 04:43 AM | #21 |
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Depending on the model..
Comparing trusted dealers prices(reasonable ones) on trf Vs wholesale price : Stainless steel sports models are between $1k to $2k difference. Gold Daytonas $3k to $7k Stainless steel datejust $1.5k to $2k General rule is : The lower the demand, the bigger the delta. |
26 August 2024, 10:23 AM | #22 | |
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Agreed it depends on the model. I was hoping to have some reference for demand and trade in values when trading say an AP Diver and a Panerai White Dial Submersible for a white gold Rolex Sub. Maybe it’s the current lowest priced on C24 minus 10% as someone suggested when paying full asking price from the Trusted Seller. |
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6 September 2024, 06:14 AM | #23 | |
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6 September 2024, 06:34 AM | #24 |
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As a general guide I would say on average c24 is 20% higher than reality
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6 September 2024, 01:51 PM | #25 |
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You can never go off of asking price. Anyone can ask whatever they want.
I like using eBay for market analysis because you can search the sold prices.
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6 September 2024, 04:37 PM | #26 | |
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I’d say 10-20% sounds about right depending on model. OP, if you’re looking for trade-in value expect a dealer to offer you less than the amount after the 10-20% Sent from my iPhone using Tapatalk |
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5 October 2024, 11:19 PM | #27 |
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Could not agree more. This is exactly what I offer as advice to those who ask me or say that they can get more for their watch because they saw it offered for more on C24; however, I usually say 15-20% off. I think it's dealer controlled.
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