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Tag: sell watches for cash

Why Are Luxury Watch Brands Growing In Demand?

March 17th, 2022

The demand for luxury watches is at an all-time high! For some, the craze for luxury watch brands like Rolex, Audemars Piguet, and Patek Philippe started during the COVID-19 pandemic when the young generation couldn’t travel abroad.

According to watch specialist Vincent Wong, there has been a steady rise in demand for such luxurious timepieces since the first lockdown in 2020. Due to the global pandemic, foreign currencies have become unstable. As a result, the young ones are now investing in luxury watches with the saved money.

luxury watch brands

Wong added that the value of luxury watch brands like Rolex, AP, and Patek has significantly increased in the past few years. The watches make for a more secure expenditure than any other overseas travel. Moreover, the value of the watch brands like Rolex and others is recognised globally. This means, if ever a person intends to sell Rolex watches in the future, they can easily expect to fetch an increased resale value!

Depending on the Rolex, Patek Philippe, and Audemars Piguet models, the resale value of the watches can go up to 50%-120%. Moreover, some buyers are willing to offer almost double the retail price for a Rolex. Hence, it is only wise to invest in luxury watch brands in such a scenario.

But why are the prices rising so rapidly?

1. Brand Value

First and foremost, luxury watches like Rolex, Patek Philippe, or Audemars Piguet symbolise success. All three watch brands are famous for their quality, prestige, and reliability. Moreover, in recent times, luxury watches have become synonymous with class. As a result, more and more people are interested in owning one from the retail or the pre-owned market.

2. Supply & Demand

The value of a commodity greatly depends on its demand and supply chain. When you own a luxury watch, your ability to sell the luxury watch is greatly dependent on its market value. Few watches are more in demand than the others. This could be due to several factors.

So, depending on the watch model you own or plan to buy, the resale value will fluctuate. Rolex is very attractive and popular in the watch market. It is also the best luxury watch brand regarding resale value.

Patek and AP are great choices too! If you own a rare model or the production numbers for a specific model are low, then there are high chances that its value will steadily increase.

Few such watches are

» Rolex Models:

  • Submariner
  • Daytona

» Patek Philippe Models:

  • Nautilus
  • Calatrava

» Audemars Piguet Models:

  • Royal Oak
  • Royal Oak Offshores

You must be thinking: Should I buy a Rolex, Patek Philippe or Audemars Piguet Watch?

Going with the current trend, investing in any three brands will yield you a higher resale value.

6 factors that will make it easier for you to choose are:

1. Budget

All the 3 brands are expensive. To simplify it, Rolex has a lower entry point than the rest but enjoys a higher resale value in the pre-owned market. You can always sell Rolex watches at a handsome value to some reliable watch buyers in London.

2. Resale Value

Many people like to buy a luxury watch, only to sell it for the same or a slightly higher price. If you want to do that too, you must invest in a watch with a good resale value (names mentioned above). While AP & Patek are good investment watches, Rolex is the best!

In 2022, the prices of Rolex have escalated, making it even more profitable for the people planning to sell Rolex in the pre-owned market.

3. Brand Recognition

We all can agree that the three watch brands are equally prestigious. But for an average man, Rolex is the king! Everyone knows and loves Rolex, don’t they? On the other hand, AP and Patek could command respect.

4. Craftsmanship

Rolex, AP, and Patek Philippe are all horology greats. If you want a watch that sports some of the best complications and movements, AP & Patek would be your choice. Rolex emphasises creating watches that have specific purposes.

5. History

All three watch brands have a great history. Rolex, came out in 1905, Patek Philippe in 1839, and Audemars Piguet in 1875. However, when you look at the watch history, Rolex has made the most significant impact, which the other two brands cannot compete with.

6. Target Market

AP and Patek Philippe watches target the elites of the society. On the other hand, Rolex is for the high-income, working individuals of any age. You can achieve a Rolex at some point, and it is also a worthwhile investment choice, and you can avail of them in a variety of styles.

But, AP & Patek lack this kind of variety and are exceptionally high priced.

CONCLUSION

As the passion for luxury watches increases globally, more and more people are inclined to invest in luxury watches than ever before. With supply so low at retail, it is unlikely that brands will offer any discount. Brands like Rolex, Audemars Piguet, and Patek Philippe are now selling on the pre-owned market for over their retail values.

Thankfully, this situation isn’t likely to end anytime soon. So, if you plan to invest now in Rolex, for instance, expect to fetch a whooping amount when you sell your Rolex watches in the pre-owned market.

This holds true for the other two brands as well.

How Do You Know if a Watch is Real or Fake?

December 27th, 2019

Luxury watches of brands like Rolex, Cartier and Omega are globally accepted status symbols.

They are some of the most sought-after timepieces out there.

However, the higher demand paves the way for the counterfeit market. And, the market is indeed booming today.

Thus, it is foremost essential to verify authenticity before you buy or sell a watch.

real or fake watch

In fact, when you plan to sell your watch, a potential buyer will verify your watch’s authenticity before making a price offer.

But:

While the demand for luxury watches is increasing, counterfeiters are becoming more advanced.

A fake watch may appear authentic with all its convincing capabilities.

It can be pretty tricky for an untrained eye to spot the differences. However, don’t fret!

Fortunately, some easy tricks can tell you right away whether a watch is real or fake. Let’s take a look!

• Feel the weight

A genuine luxury watch is made up of precious metal. Thus, the timepiece will typically feel more substantial.

On the contrary, a counterfeit watch is crafted of cheaper materials, making it significantly lighter in weight.

breitling watch dial

• Inspect the quality

High-end watch manufacturers use superior quality materials and instruments to design a watch.

All letters, markers or any engravings on a luxury watch are clear and legible.

If you find any letter hard to read or the finishing being slightly off, then you are probably dealing with a fake watch.

• Listen for ‘The Ticking’ sound

Hold your timepiece against your ear. Now, listen carefully. Do you hear any sound?

A luxury watch like of Rolex is made with hundreds of tiny, precisely designed moving parts.

Thus, the second hand moves so smoothly that it produces no ‘tick’ sound.

omega watch dial

• Examine the watch’s face

Fine watches are fitted with precious minerals like sapphire.

On the other hand, fake timepieces use mineral crystals for covering the watch’s face.

Here’s a quick tip for you:

Turn your watch on its side and check the colour through the clear casing.

Genuine watches that are made with sapphire flaunt a violet tint.

• Check the engravings

All engravings on an original watch will be precisely cut and not look deformed or sandy. They should be crisp and sharp.

However, a fake watch will display anything other than transparent engravings.

Sometimes, a fake watch can be easily spotted by comparing it with another similar watch. But others may require a trained eye to verify their authenticity.

If you want to check the authenticity of your Rolex watch, you may take it to any trusted watch buyers who buy authentic luxury watches.

While a professional watch dealer will certify your watch’ authenticity, he/she can also offer you an accurate valuation.

Thus, for those who are wondering “how to sell my watch” to a trusted watch buyer, here’s a simple step to follow:

Fill up our online form and get a free valuation shortly.

5 Things That Can Increase the Value of Your Luxury Watch

November 1st, 2018

In a hard-up situation, you may decide to sell your watch to raise some quick cash. Unlike many other assets, luxury watches of elite brands like Rolex, Omega and Cartier hardly depreciate with age. Indeed, many luxury timepieces possess a ‘collectability’ factor that helps to retain their value. However, watches that are not highly collectable can also fetch a higher price just because they are from a highly coveted brand.

Luxury watches may always tend to hold a high-resale value over the time, but with proper care and attention, their value can increase. Many potential watch buyers also often promise to pay top prices for the luxury pre-owned watches that are serviced timely and in good working condition.

sell my watch

If you understand the factors that play a vital role in determining an accurate value of a luxury watch, you will be able to sell your watch more comfortably for the most competitive price.

For those who are looking for ‘Where can I sell my watch’ or ‘sell watches for cash’, read the points below to know the things you should do or take into consideration to increase the value of your luxury watch:

  • Keep your watch in good condition

One of the factors that play a significant role in determining the actual price of a pre-owned watch is the condition. A potential watch buyer always yearns for a good working watch, and an old timepiece in pristine condition can indeed fetch you more money compared to the ones in poor condition.

Thus, before heading out to sell your watch for cash, it is essential for you to ascertain the wear and tear of your luxury asset. While scratches, blemishes, or any damage in any part of your watch can result in a significant cutback in the resale value, it is always recommended to keep your watch in its original box and also, prevent it from getting wet.

  • Avoid polishing the timepiece

Although polishing may keep your used watch in mint condition and retain its shine, it is the nemesis of watch collectors. Polishing a luxury timepiece without taking any general precaution can cause microscopic scratches and also, wear away a watch case’s edges.

For example, the signature lug-twist on your Omega Speedmaster watch can become imperfect and blurred with polishing.

  • Try to sell your watch within five years

Luxury watches may hold a high value in the resale market over the years, but it is relatively difficult to predict the long-term value of these timepieces precisely. Popular models such as the Rolex Paul Newman Daytona or the Rolex Submariner usually demand a decent resale price over the first three to five years of ownership.

Moreover, with limited edition watch models such as the Omega Seamaster 300 ‘SPECTRE’, the chances of securing a higher value is more when selling, especially in the first few years.

  • Keep all the documents safe

While you can sell a watch without the original documents to a professional watch buyer in London or anywhere in the UK, it is true that a pre-owned watch without original papers will not fetch you as much as a second hand watch with its paperwork.

The original box, papers, servicing documents or other relevant paperwork (if any) will ensure your watch’s authenticity and also, ascertain its condition to an experienced watch buyer while enabling you to sell your watch more conveniently and straightforwardly for the highest price possible in the market.

  • Service your watch regularly

Ideally, a luxury watch requires regular servicing to maintain its value over the time. With this in mind, it may be a good idea to spend some time online researching the servicing needs of the major brands as it may vary from one brand to another. While both Audemars Piguet and Rolex have ten significant steps in their complete maintenance service, Omega claims to possess twenty-six servicing stages.

A luxury timepiece is an intricate machine powered by an engine that runs continually. Thus, two years servicing intervals are often recommended for maintaining its value. Servicing on a regular basis will keep your luxury watch in mint-condition and eventually, can get you the best possible price when selling it for cash.

© 2022 The Luxury Hut is a trading name of Golden Cash Limited. Authorised and regulated by The Financial Conduct Authority for pawnbroking. Registered in England as Golden Cash Limited. Registered Number is 07309335. Registered office address: Treviot House, 186-192 High Road, IIford, Essex, IG1 1LR.

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