What you need to know before selling your watch collection

A designer watch collection can be a powerful and a lucrative asset with the ability to generate cash quickly. If you are looking to sell your collection, follow these tips and tricks to ensure you get the best price possible.

Pick your selling outlet carefully 

When selling a luxury watch collection, it is important you do so through a reputable reseller or buyer. Doing so helps prevent being victim to nasty scams and undervaluing, ensuring you can make a rational decision without pressuring forces. Getting a professional appraisal from a specialist such as PM Antiques & Collectables will provide you with an accurate and fair price for your collection with no obligations, saving you the time of searching for a buyer. Alternatively, if you choose to sell your watch collection privately, ensure you have taken measures to confirm the buyers are genuine. Find out more about where to sell your jewellery and watches online.

Have documentation ready

Having the supporting documentation for your luxury watch collection can massively boost its value. In the trade we refer to watches with their original box and papers as a ‘full set,’ and they prove to be more desirable amongst collectors and enthusiasts, hence increasing the value. As a result, it is always advised to keep these documents safe when investing in a luxury watch and having them at hand for when it is time to sell. Some buyers may also prefer original purchase receipts to help them with any authenticity worries as an alternative for paying for external authenticators. When selling your watches, ensure you have listed all the supporting documentation you have and photographed accordingly to ensure you are attracting genuinely interested and correct buyers.

Note the condition of your watches

Similarly, the condition of watches can have a big effect on how much they can generate. When considering selling your watch collection, note of any damages or imperfections on listings and ensure your buyers are accurately informed. You may want to get the watches serviced or have any scratches polished out to ensure they sell for as much as possible. A horologist or watch maker will be able to open the case back to ensure the mechanisms are functioning correctly and let you know of any repairs they may suggest carrying out before the sale. When investing in a luxury watch, it is important to maintain its condition to ensure the piece retains its value as heavy wear or damage to watches will significantly affect it. See Why designer watches are so expensive?.

Research the best price

To ensure you are getting the best price for your collection, it is important to stay informed about the watch market and popularity of models. You may choose a time to sell based on current market trends, or postpone accordingly. Using auction sold listings, and websites such as Chrono24 can give you an indication into how your specific models are performing within the market so you can prepare yourself with a realistic idea of what they may achieve. If you are unsure of your collection’s value, you can approach an auction house for an estimate or an appraisal service, like PM Antiques & Collectables, for a free, no obligation quote and swift, hassle-free outright sale.

Know the tax implications 

Capital gains tax applies when possessions over £6000 are sold which have increased in value over the annual tax allowance so may be worth considering this if you have a large and valuable collection. Whilst selling luxury watches could have tax implications in the UK, it largely depends on the value of the item, whether it qualifies as a personal possession, and how much profit is gained from the sale. If you’re unsure, it is always advisable to consult a tax advisor for specific guidance. 

By following these simple tips, you will be well informed to sell your watch collection, benefitting from your investment. PM Antiques & Collectables offers a free of charge appraisal service resulting in a smooth and easy transaction, saving you the time and hassle of selling watches yourself. See how much we could offer for your watch collection, and view our collection of luxury watches for sale. You might also be interested to read: 5 Reasons to Invest in a Luxury Watch.