What to know when selling luxury and designer jewellery and watches?

Luxury items such as jewellery and watches can be associated with some of the most prestigious and notable brands and designs in the world. Many people use luxury jewellery and watches as investment pieces to sell at a later date.

What makes jewellery and watches luxury items?

Items are defined by luxury due to the high levels of craftsmanship that goes into making them, their unique designs, the associated cultural and historical significance and elements of exclusivity. 

Looking to sell jewellery and watches?

If you are looking to sell a luxury item such as an item of jewellery or a watch, you might choose to approach an appraiser for an offer. Appraisers will have a wealth of knowledge and experience when it comes to the brands and factors which generate greater values of these items. Generally, they will look at the design or model of the item and its popularity on the secondary market, also factoring in the item's condition and age. 

Luxury jewellery and watches as an investment

Supply and demand play a big role in establishing luxury and designer items, also encouraging reselling and investment. Many luxury items are produced in limited numbers and you may have to join waiting lists in order to acquire them. For example, the famous Hermes ‘6 year’ waiting list means you could be waiting years for their iconic ‘Birkin’ or ‘Kelly’ bags. Watch brands such as Patek Phillipe have a waiting list of up to 8 years for some models. This creates an element of exclusivity which increases demand and inflates prices on the secondary market. 

The historical associations of the brands also can increase or lower prices. In the 1950s, De Beers launched their ‘Diamonds are forever’ campaign, popularising diamond engagement rings whilst controlling diamond exports. Through increasing demand derived from clever advertising and limiting the supply, they were able to manipulate and control the market, gaining brand popularity and noticeability for their designs and styles. 

Pioneering designs and strong brand identity

The unique designs produced by luxury brands have aided in establishing them in the industry, creating a strong brand identity and heritage. They are easily spotted in popular culture and often associated with celebrities making them more desirable and increasing demand. In 1990s Princess Diana popularised the Dior ‘Chouchou’ bag leading to it being renamed the ‘Lady D.’ Cartier’s iconic ‘Juste un Clue’ bracelets, the Rolex Daytona or Van Cleefs Alhambra models are all examples of the unique and pioneering designs creating a noticeable and strong brand identity. 

Does the condition of jewellery and watches affect the price?

The notability of the brand and design are not the only contributing factors to consider when selling a luxury good. Condition plays a big role in determining the value. Due to the high-quality materials and craftsmanship that goes into making luxury goods, repairs and restoration can be highly expensive, in turn decreasing the value of damaged or heavily worn goods. On the contrary, having any original receipts, certificates and boxes can boost the item's value so is it important to keep these safe if you ever make a purchase from a luxury brand or bring them to your appraisal. 

Generally speaking, the more exclusive and expensive items will equate to the rarer luxury items, boosting value. The Rolex Daytona Paul Newman is argued to be one of the rarest luxury watch models, with only 3000 being made these models have been known to fetch high amounts at auction. Breaking a world record in 2017, for the most expensive watch ever sold for $17.75million. In addition, discontinued models from luxury brands can lead to rarer designs and increased demand on the secondary market. 

Overall, luxury watches, jewellery and other associated items can be big assets. 

At PM Antiques and Collectables, we offer free appraisals for a wide range of luxury goods. If you are looking to sell your luxury watches or jewellery, contact us today to see what your items could be worth. 

Written by Krista Palmer-Preece of PM Antiques & Collectables