Aside from your personal taste, two of the essential elements you need to consider when you are buying and selling pre-owned timepieces are their make and condition. The make is not just all about the brand, but also how the watch is being made and the finish – although it is a common knowledge that there are brands that do it better compared to others.
Classic brands that like Patek Philippe, Audemars, Rolex, Vacheron Constantin, Piguet or Tag Heuer gets the top dollars when it comes to the secondary market. Other brands are not as popular as the brands mentioned above but have exceptional timepieces that are high quality and beautifully finished.
Most of them were produced recently, and they have not yet been globally circulated in the second-hand market. Purchasing online on various collector sites or e-commerce site like Amazon is also starting to gain popularity, but with certain limitations.
When you are buying from major auction houses that specialize in timepieces or watches, you can count on prices that reflect on their market value as well as the condition report from expert opinions. Smaller auction houses can be the perfect place to pick up classic bargains, but make sure to check the items in advance.
There are bricks-and-mortar retailers that have second-hand watch sections on these auction houses, some have online inventories, and mostly they carry brand new introductions. Purchasing on the internet from collector sites or Amazon is starting to get famous, but there are some limitations to it. Here are some tips for people who want to start a watch collection.
Click here for the list of popular timepiece manufacturers.
Try to buy from tried and tested auction houses
These auction houses will help you find what kinds of watches come out of resale markets and how much they sell for. They can also allow buyers to scout the watches for good deals that timepiece dealers are selling to trade up. Complicated watches like Rolex, Tag Heuer, Patek Phillipe, Audemars Piguet or Omega, can sell for at least a hundred thousand dollars, but you can find the same watches at these auction houses for under a thousand dollars.
If a timepiece has no important provenance or not owned by a celebrity, doesn’t represent a limited series or has extraordinary complications, but you like it that much, there is a big chance that you can get it at a much lower price.
You need to build a good relationship with a trusted and authorized dealer
It will have a significant impact, especially if the brand that you really like releasing a limited edition where only a handful of pieces are available in the market all over the world, and you want to buy one. It will also make sure that you will always receive ongoing insider tips about watches.
Thinking of starting a collection? Visit https://www.nytimes.com/2018/03/23/style/watches-collecting.html to find out more.
Know the sellers
Seasoned and veteran collectors are good at buying over the Internet, but until a person becomes a very experienced buyer, you need to start by checking trusted and authorized sellers to find out more about the product or the model. You have to take a good look at “buyer beware” sections of the sites or blogs that review dealers and sellers of second-hand watches. Collectors used to warn other collectors about bad sellers or dealers.
Know the second-hand watch whether they can be restored or repaired before purchasing
There are brands like Patek Philippe, Glashütte Original, Blancpain or Tag Heuer offer authentication as well as restoration services for their timepieces, but other brands do not provide parts for vintage watches or provide repair services, especially of the timepiece has been tweaked or altered.
Go for transitional timepieces
When brands refresh their iconic collections, improving their movements, upping case sizes or changing metals, the watches that were made last in every series before the piece was changed are considered as transitional, and most of the time will become a collector’s item along with the first editions in the series.
There are times that the improved models have minor tweaks, and the models that were discontinued are no less of a beautiful watch. You need to do your due diligence and research the watches that you are planning to buy. Check every detail and compare with other timepieces, because every information you can get can help you decide what timepiece to purchase and avoid wasting money.