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Selling a watch or fine jewelry can be a daunting task, especially when it comes to determining its true value and finding a trustworthy buyer. Traditionally, you would have to locate a qualified appraiser and then figure out where to sell it. However, with modern technology, there are now more convenient and secure options available to you.
You can now sell your watch or jewelry from the comfort of your home without ever having to leave it. You can even use your watch as collateral to secure a personal loan from a reputable company like Diamond Banc.
This lets you get cash for your watch without having to part with it permanently. Whether you are looking for a quick sale or just need a short-term loan, the process is easier and safer than ever before.
In 2021, the global market for pre-owned luxury watches raked in an estimated $786 million USD in revenue. Selling your used watch can be a worthwhile endeavor.
Where is the best place to resell watches online or near me?
Although there are numerous options for selling your old watch, there isn’t a single “best” place.
If you want to sell high-end luxury watches like Rolex, Seiko, Citizen, Omega, or Cartier, it’s best to avoid posting them on Craigslist. Instead, consider reputable online or local jewelry resellers.
However, if you own everyday-use watches such as Fossil or cheaper Casio models, you can earn more by selling them on Craigslist or OfferUp.
To get the best price for your old watch, it’s smart to research similar watches sold on various platforms. This helps you identify where you can earn the most cash.
Here are the top online and local places to sell your used watches for the best price.
1. Worthy
Worthy is an online auction website that provides fully insured services. You can sell engagement rings, diamond jewelry, and watches there.
To sell your watch, you’ll need to prepare it for sale. This involves cleaning, taking photographs, and having the jewelry graded by an impartial third party. Shipping your item to Worthy’s offices via FedEx is fully insured by Lloyd’s of London.
When your item is ready for auction, you can choose a reserve price you’re okay with. Worthy handles the auction listing and promotes it to potential buyers. Just launch the auction and wait for offers.
Once the auction closes, you’ll get the final sale amount minus a fee charged by Worthy. This fee is a percentage of the selling price based on the winning bid.
Here are the fees for selling watches:
- Up to $5,000: 18% fee
- $5,001 to $15,000: 14% fee
- $15,001 to $30,000: 12% fee
- $30,001 and above: 10% fee
After your watch sells, you can receive payment through bank transfer, PayPal, or check.
2. Chrono24
Chrono24 is a marketplace dedicated to luxury watches. It offers a free platform for listing your watch, with a potential reach of 9 million buyers monthly. Simply input your watch’s reference number, brand, or model to begin.
You can connect with a buyer, utilize Chrono24’s secure payment processing, send the item insured, and finalize the sale.
Chrono24’s Escrow Service, tailored for luxury watches, handles payment processing for free.
The buyer sends the payment to a secure escrow account.
You’re notified in your myChrono24 user area once the payment arrives in the escrow account. Then, you ship the watch insured for its full value.
After the buyer receives the watch, you’ll get paid the sales price within 7 days. The payment will be transferred to your bank account within 7 business days.
Chrono24 charges a 6.5% commission fee when you sell your watch.
3. Watchfinder & Co.
Watchfinder & Co. is an online platform specializing in the buying and selling of high-end, pre-owned watches.
To sell your watch on Watchfinder & Co., simply provide your details and select the watch you wish to sell.
Once submitted, the company will provide an estimate for your watch. If you agree with the estimate, you can send your watch to the company.
Upon receiving your watch, it will undergo inspection at their manufacturer-approved service center.
Following inspection, Watchfinder & Co. will present you with a final offer. If you accept the offer, you’ll receive payment via bank transfer within 5 working days.
4. Crown & Caliber
Crown & Caliber is an online marketplace for purchasing and selling pre-owned luxury watches. It’s the top destination for buying and selling used luxury watches, specializing in brands like Rolex, Cartier, and OMEGA.
Simply choose your watch brand and input the model number on their website to get started.
After you submit your watch, you’ll receive an offer. If you agree, you can send your watch to the company. They’ll provide you with pre-insured FedEx labels via email.
Once your watch reaches them, their watchmaker will authenticate and inspect it. After their team processes your watch, they’ll confirm your payment and send it to you via check or store credit.
Crown & Caliber has updated its buying process. While most brands and models will get a cash and trade offer, some may only receive a trade offer.
5. eBay
If you want to sell watches, websites like Watchfinder & Co and Crown & Caliber mainly cater to luxury brands. But if you don’t have a luxury watch, eBay is a solid alternative where you can sell all types of watches.
eBay stands out due to its massive user base, with 138 million active users. This means there’s a large pool of potential buyers for your watch.
You can list up to 250 items for free each month on eBay. Beyond that, there’s a $0.35 insertion fee per listing.
When your watch sells, eBay charges a final value fee, typically 13.25% of the sale price or lower, plus $0.30 per order for most categories.
6. Bob’s Watches
Bob’s Watches, founded in 1999, is a well-established online platform for buying, selling, and trading pre-owned luxury watches. The company refers to itself as “The leading online marketplace for buying, selling, and trading used Rolex watches for men and women.”
To sell your watch, simply fill out a form on the website or navigate to the specific watch brand page, such as Rolex, Omega, or Breitling.
After selecting your watch model, you’ll receive an instant quote by answering a few questions.
If you’re satisfied with the offer, you can ship your watch to Bob’s Watches using the free, fully insured FedEx label provided.
Payment options include cash, wire transfer, or check.
7. Govberg Jewelers
Govberg Jewelers is a premier destination for luxury watches, offering both new and used selections. They pride themselves as “One of the leading authorized dealers of luxury watches in the United States.”
The store is an authorized dealer for over 20 watch brands like Rolex, Patek Philippe, H. Moser & Cie, Bulgari, Breitling, Hublot, Grand Seiko, and Tudor.
To get a quick and complimentary quote for your desired watch, simply fill out the form on their website.
If you’re satisfied with the quote, you can conveniently ship your watch to Govberg Jewelers using a pre-paid, fully insured FedEx label available for instant printing upon accepting the quote.
Once received, their expert watchmakers meticulously assess the condition and authenticity of your timepiece. Upon acceptance of the finalized quote, payment processing is swift and immediate.
8. OfferUp
OfferUp is a platform for local buying and selling. It’s a great option if you’re seeking to sell your watch nearby.
For local sales where items aren’t shipped, there are no fees. However, if you choose to ship items, there’s a fee starting at $1.99 or 12.9% of the sale price when items are sold.
9. Cash for Gold USA
You can sell your gold and luxury watches, whether they’re working or broken, with Cash for Gold USA. It’s a reliable option for selling your gold timepieces.
To get started, simply request a free evaluation through their website. Once you’ve decided to sell, you can securely ship your watch using their insured USPS SAFEPAK, insured for up to $1,000, or their Appraisal Kit with a FedEx label, insured for up to $5,000. Additional insurance up to $100,000.00 USD is available before shipping.
Within 24 hours of receiving your watch, certified appraisers will assess its value and present you with an offer.
If you agree to the offer, you’ll receive immediate payment through various payment methods, including direct deposit, PayPal, virtual credit card, print-at-home check or a check sent to you via USPS or FedEx overnight shipping.
10. WatchBox
WatchBox refers to itself as “The global leader in pre-owned luxury watches.”
You can purchase, sell, or trade top watch brands like Rolex, Patek Philippe, and Audemars Piguet on the platform.
To sell your watch, simply fill out an online form with its details to receive a quote within 24 hours. If you accept the offer, you’ll receive a prepaid shipping label with insurance or a face-to-face collection arranged by the company.
Once WatchBox receives your watch, its qualified experts will inspect its condition and authenticity. After inspection, you’ll receive payment via check or wire transfer.
11. myGemma
myGemma, previously known as WP Diamonds, focuses on diamond jewelry, luxury watches, handbags, and accessories. They offer a straightforward buying process, especially if you have receipts or lab reports for your items.
Selling your watch hassle-free with myGemma starts by filling out a form on myGemma.com, providing details and any relevant documentation. An expert will then give you a price quote.
If you’re happy with the quote, myGemma sends you a free, fully insured FedEx label via email with detailed instructions on shipping your item to their New York or London headquarters. Alternatively, you can schedule an in-person appointment.
Upon receiving your watch, myGemma will open and inspect it on camera for your peace of mind. A GIA-trained gemologist evaluates your watch in-house. Your dedicated client representative will then present you with a final offer.
If you accept the offer, you get paid via wire transfer or check by mail. If you decline, myGemma will return your item for free and insured.
12. Craigslist
Craigslist remains one of the top choices for selling items quickly and locally for cash.
To get started, simply create an ad on the site with a detailed description and clear photos of your watch or watches. Then, wait for potential buyers interested in purchasing old watches to reach out to you.
However, it’s crucial to prioritize safety when using Craigslist. Be cautious of scammers by meeting buyers in busy areas, safe locations like malls, grocery stores, or even the parking lot of your local police station.
13. Facebook Marketplace
Facebook Marketplace has become a popular platform for buying and selling various items, including watches.
To sell your watch, upload some photos, provide a detailed description, and suggest a price. Be cautious of scammers and unreliable buyers among the responses you receive.
Can you sell a watch to a jeweler?
Jewelers specialize in appraising and purchasing various high-quality watches, varying based on the jeweler and market. They serve as a great starting point for valuable insights into your timepiece and provide an initial offer. Additionally, jewelers can assist in getting appraisals for insurance purposes.
The bottom line
If you have a collection of used watches lying around in a drawer, it’s time to turn them into cash. Instead of letting them gather dust, consider dusting them off, replacing the battery, and selling them on top online platforms. By doing so, you’ll not only free up space but also make the most of your investment.
Remember, timepieces are not only functional but also a fashion statement, so there are always eager buyers looking for their next stylish accessory. With the right approach, you can get a good return on your investment and maybe even fund your next watch purchase. So, why not explore the top platforms for selling used watches and turn your timepieces into cash today?