With watches it can sometimes be difficult to know exactly when to keep a watch and when to see it. If you start to lose interest in a watch is that because you’ve gone of it or has your interest merely dipped. As such people sell watches thinking they are done with it and end up regretting it and keep watches they don’t particularly care for anymore because they’re worried of seller’s remorse. Whilst there is no empiric way of deciding if something is a keeper or not there are ways of better deciding for yourself. I will outline two below
The first is to simply not wear the watch for a few weeks. Say you have a Rolex Submariner, a watch you had thought about for years and then was able to buy it for the right price. Yet in recent weeks you’ve been eyeing up another watch, maybe something in precious metal like the Vulcain Cricket or an Oris World Timer. You start to wonder if you sell the Submariner to put funds towards your new watch. Is it the right time to sell? Well, simply act as if you already have. Leave your submariner in a Donut for a couple of weeks and see how you feel. If you miss it then you know not to sell, if you’re nonplussed then you know now is the time to sell.
The other test, and this is purely for people who see watches as investments, is look at the market. Say you bought a Rolex GMT in 2010 and see prices explode year on year then start to decline that might be a good time to sell. Similar to stocks where you have to sell when you think you are making the most money possible. This rule doesn’t necessarily apply for all collectors. If you buy a watch because you love it and it skyrockets in value that doesn’t necessarily mean you should sell it. Value isn’t everything when it comes to watches and sometimes great watches lose value and mediocre watches gain value. For instance, the IWC Da Vinci is a £30,000 watch new and yet second hand is about £7,000 in steel and in gold £10,000. So you get a perpetual calendar from a great brand for a third of the price. Basically, if you are in watches to flip and make money then observe the market. If you are in watches because you enjoy the hobby then don’t become obsessed with value or you may regret selling a watch you don’t want to because the market tells you to.
The other aspect to consider is why you are wanting to sell. Is it to finance something else, a new watch, car, holiday etc. If so then simply consider what you would rather have, if you know that you can get £3,000 to £4,000 out of your watch that could be put down against many things. If you’ve always wanted a Speedmaster for instance one route many take to eventually buying one is to flip up to it. Buying a watch for around £2,500, then a year or so later one for £4,000 until you have enough money in watches that you can trade in against the cost of the Speedmaster.
All in all, it is up to you. If you think a watch has run it’s course in your collection and you would like to move it on then get in touch and we can get take care of the sale. With our new commission sale system, you can see where your money is going and how much you will keep. If you are interested in commission selling then I will leave a link below.