We get asked “How do I value my watch?” for 3 main reasons;
- Repairs: Is the cost to repair worth it?
- Insurance: Luxury watch prices fluctuate, so it’s important to keep insurance policies up to date.
- Sale or part exchange: To make sure you’re getting an honest price.
Whatever your reason, we hope our 10 step guide to “How do I value my watch?” will point you in the right direction.
Valuing a watch can depend on various factors, including the brand, model, condition, age, rarity, and the current market demand.
Let’s Get Started …..
- Identify the Brand and Model:
- Determine the brand and model of your watch. This information is usually found on the dial, case back, or sometimes on the clasp.
- Check the Condition:
- Assess the overall condition of the watch. Look for scratches, dents, or any signs of wear. The better the condition, the higher the value.
- Research Similar Watches:
- Search online marketplaces, auction sites, and watch dealers to find similar watches. Take note of their prices to get an idea of the market value.
- Consider Rarity and Limited Editions:
- If your watch is a limited edition or rare model, it may have a higher value. Research the production numbers and exclusivity of your watch.
- Check for Originality:
- Original components, including the dial, hands, and bracelet, can contribute to the value of a watch. Verify that your watch has not been extensively modified.
- Examine the Movement:
- The type and quality of the movement (the internal mechanism of the watch) can affect the value. High-quality and well-maintained movements often contribute to a higher valuation.
- Consult Experts:
- Reach out to watch experts, appraisers, or authorized dealers for the specific brand. They may provide insights into the value of your watch based on their expertise.
- Service History:
- A well maintained watch is likely to have a higher value than one that has been less well cared for. Make sure you have all your service history paperwork.
- Consider Box and Papers:
- If your watch has its original box, papers, and accessories, it may be more valuable. Collectors often prefer watches with complete documentation.
- Get a Professional Appraisal:
- For a more accurate valuation, consider seeking a professional appraisal from a certified appraiser or a reputable watch dealer. At Michlmayr we offer a professional watch and clock evaluation service. We will take into account all relevant factors and provide an official valuation.
Remember that the value of watches can fluctuate based on market trends, economic conditions, and the specific preferences of buyers. Additionally, keep in mind that sentimental value may differ from market value.
Selling your Watch
If you’re planning to sell your watch, we strongly advise you consult an expert luxury watch dealer who comes with excellent recommendations and reviews. We work closely with Oakleigh Watches – experts in buying, selling and trading pre-owned luxury watches with a 5 Star Trustpilot rating.