How to sell your old watch online
A good watch is effortlessly classy.
There’s something so empowering about wearing a bold, stylish timepiece on your wrist when you sit down for a meeting or head into an interview – or on a date, a watch makes you look like a total badass.
But that same watch — or another one, that doesn't make you feel so hot — is sitting in a drawer, jewelry box, or safety deposit box, is another story.
In that case, you know what’s even more empowering than showing off an amazing timepiece?
Money to use for whatever the hell you want.
If you’ve got a high-end watch that you simply don’t like or don’t use (or maybe one that brings back bad memories — hello heirlooms!), it just might be your ticket to something more rewarding — say, a vacation fund, investment in a side business, paying off debt, or a downpayment on a home.
Selling a watch — or any fine jewelry, for that matter — can be intimidating.
Traditionally, there’s the process of finding a qualified appraiser (and there may only be one or two in your neck of the woods, lessening the chances you’ll be able to compare offers) and figuring out where to sell it.
Then there’s the hassle of even finding a few spare hours to do all of that — as watches remind us, there’s only so much time in a day!
And then there is the question about whether you trust the quote your local jeweler or watchmaker gave you.
Are you getting ripped off?
Fortunately, there are options today that make it easier and safer than ever, without even having to leave the house.
Read: Should you sell your engagement ring after divorce? Here's how …
Why should you sell your watch?
First and foremost, you need to make your own decision. In a lot of cases, expensive watches are gifts or inherited heirlooms.
There’s something to be said for sentiment, so you’ll need to weigh how much your watch really means for you and your family.
Is this timepiece something you think you might want to pass on to a child someday or is it truly something you can do without?
And as far as heirlooms go — is it a men’s watch that you or your daughter would never even wear?
Or maybe it belonged to an ex? Is it out of style — with no sign of coming back?
Among the things you might want to consider when making your decision is practicality.
Think about how often you use this watch. Is it a trusty sidekick you enjoy daily, or a is it collecting dust in a jewelry or safety-deposit box?
It’s easier than ever now to keep track of time — most of us walk around every day with a phone, and there are clocks — digital and otherwise — around almost every corner.
And if you’re somewhere truly remote without cell service, like on an excursion into the mountains, you’re probably better off wearing a $100 Timex that can get beat up than an $8,000 Rolex.
Does Worthy buy Rolex watches?
Worthy chooses which brands to buy based on their buyers' preferences.
And it's a no-brainer that the finer the brand, the higher price it will fetch in auction.
Worthy points out that some watches have sold for more than $1 million.
Luxury watches and vintage timepieces are sought-after items, after all, and yours just might be worth more than you realize, especially if it’s a rare and limited find.
For a quick reference, though, Worthy reports that on its site, a Rolex Submariner recently sold for $6,120, a Hublot Big Bang recently sold for $4,725 and a Breitling Motors recently went for $2,929. (Can you say cha CHING?!)
Here’s a list of watch brands that are in demand by Worthy’s buyers:
Alain Silberstein
Breitling
Glashütte
Lange
Patek Philippe
TAG Heuer
Audemars Piguet
Bulgari
Harry Winston
MB&F
Piaget
Tudor
Bell & Ross
Cartier
Hublot
Montblanc
Richard Mille
Ulysse Nardin
Blancpain
Chopard
IWC
Omega
Roger Dubuis
Vacheron Constantin
Breguet
Franck Muller
Jaeger
Panerai
Rolex
Zenith
In fact, unlike retailers who carry these brands, many of whom sell only newer watches, Worthy's buyers actually prefer vintage or antique versions of these big names – particularly ones in excellent condition.
The rarity ups the value, which increases the amount you'll be paid. So, that watch of your grandfather's?
You just may be sitting on tidy payment!
Sell your watch
There are a lot of options to sell your watch and jewelry online, but Worthy stands out.
Worthy is an online marketplace, but it manages to be hands-off enough that you don’t need to constantly monitor what’s happening to your jewelry and hands-on enough to keep you involved throughout the whole process.
Most of Worthy’s buyers prefer brands whose watches retail for tens of thousands of dollars (and sometimes more).
So, if you’ve got a nice timepiece that your wrist is willing to part with, you could be talking about some serious cash here.
It’s not super likely that you’ll be able to sell the watch for the amount it was originally purchased, but you never know — timepieces are trendy, so there’s a possibility you’ve got your hands on something in high demand.
How does Worthy work?
Worthy is a digital auction platform that is laser focused on high-end jewelry and watches.
In fact, if you have rings, necklaces, bracelets, earrings and the like, Worthy can be a great option to turn unused jewelry into quick cash — while also feeling confident that you are getting the best price on the market.
Once you decide you want to part with a piece of jewelry, go to Worthy.com.
How to SELL YOUR WATCH:
- Go to Worthy.com
- Enter your name and email, along with basic information about your watch or jewelry, including uploading pics of your timepiece.
- Receive an estimated market value for your piece right then and there. This process takes about 2 minutes.
- A very nice customer service representative calls to answer all your questions and tells you what will happen next.
- Ship your item. If that estimate suits you, Worthy will send a FedEx delivery person to your house the next business day (or sometimes the same day!), in which you send the jewelry, diamond or watch to them — Worthy pays for all shipping and insures the item for up to $1,000,000 (yes, really!).
- Worthy pays for a third-party report.Worthy partners with Central Watch for these evaluations. Central Watch has been in business in New York for more than 60 years, and and has both an excellent reputation in the industry, as well as an A+ Better Business Bureau rating. The experts there take a close look at your timepiece and provide an in-depth report. Worthy will then contact you with a copy of this report, and its appraisal price. If this sounds good to you, then ….
- Agree on a “reserve price,” or the lowest price you are willing to accept.
- Your watch is auctioned. Worthy will then take professional photographs of the watch, and create an attractive online profile for your timepiece. Then, the auction begins! Worthy ensures that your watch will be seen by at least 100 potential buyers worldwide, who can then bid on your item.
- Receive an offer within 7 days of Worthy receiving your item.
- Get paid. After you confirm the sale, you’ll receive payment within 24 hours, including through PayPal or your bank account. Cha-ching!
Worthy has an A+ rating with the Better Business Bureau, which, frankly, provides real peace of mind.
How much can I get for my watch on Worthy?
The amount your watch will bring depends on many factors.
You won't be surprised by the final sale prices, since you will receive an estimate from Central Watch beforehand, and you yourself set the minimum you are willing to accept.
That said, here are some things that can affect the value of your watch: Limited production numbers, brand and model, proof of Swiss craftsmanship, manufacturer-made movements, construction using precious metals, the quality of jewels and stones in the piece, the conditions of the clasp and band, and piece’s history and age.
If you’re more of a visual learner, check out this video I made detailing my own experience selling jewelry on Worthy:
Fees and guarantees
When your watch or other jewelry sells, Worthy takes a fee of up to 20 percent of the sale price.
That’s something to keep in mind, but remember that basically, anyone selling anything for you is going to take a cut.
Worthy scores points with its transparency.
If your jewelry doesn’t get sold for at least your reserve price, Worthy will return it for free, and you don’t wind up paying anything before the sale.
Another perk is that Worthy will actually pay you $100 if you get a better price from an independent jeweler.
If you’re on the fence, or you’re just trying to figure out if your old watch is even worth selling, it's a good idea to do some research.
You can always turn to Google to get a vague idea of what your watch is worth.
It won’t hurt to price shop, especially if your watch is made by a well-known brand.
It can help you get your bearings, but keep in mind there will always be factors that make a difference, such as the age of your watch and the condition it’s in.
That’s why you’ll definitely want a professional appraisal like Worthy can provide.
Start the process of letting go of old things >>
Some of the links in this and other posts generate a commission. I never recommend products that I don’t truly believe in. Seriously – I get asked to write about stuff all the time and turn down hard cash if I’m not feeling it.
Emma Johnson is a veteran money journalist, noted blogger, bestselling author and an host of the award-winning podcast, Like a Mother with Emma Johnson. A former Associated Press Financial Wire reporter and MSN Money columnist, Emma has written for the New York Times, Wall Street Journal, Forbes, Glamour, Oprah.com, U.S. News, Parenting, USA Today and others. Her #1 bestseller, The Kickass Single Mom (Penguin), was named to the New York Post's ‘Must Read” list.
Emma regularly comments on issues of modern families, gender equality, divorce, sex and motherhood for outlets like CNN, Headline News, New York Times, Wall Street Journal, Fox & Friends, CNBC, NPR, TIME, MONEY, O, The Oprah Magazine and The Doctors. She was named Parents magazine’s “Best of the Web,” “Top 15 Personal Finance Podcasts” by U.S. News, and a “Most Eligible New Yorker” by New York Observer.
A popular speaker, Emma presented at the United Nations Summit for Gender Equality. Read more about Emma here.