Determining price and negotiating?

[tenerific]

So there is a Patek I’ve been looking at on Chrono24 but I suspect it is priced higher than market.

What is a good way to determine market and then negotiate? I am guessing the best bet is to look at auctions from this year, see what things sold for, and then pivot off of that? Any tips? Market for this watch seems thin and to be a buyers market quite frankly.

[ikincooper]

If it’s a dealer selling the watch you’re looking at on Chrono24, it’s often worth heading to their own website/contacting them directly and away from Chrono24 as they’ll avoid sellers fee’s often giving you around a 7%+ saving immediately.

Beyond the above, shop around, factor in a margin that the dealership should be looking to make (model dependant but perhaps 10-20%) and put forward a reasonable offer.

Perhaps sharing the model/reference you’re looking at might enable other more familiar to assist further


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[77T]

Another way is to do an advanced search of completed sales for the exact model on eBay. Your results will depend on how many deals have been closed for the model you're looking at.

That's the background part.

Then compare trends for the model to determine if it has been dropping or rising.


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[tenerific]

Originally Posted by ikincooper

Perhaps sharing the model/reference you’re looking at might enable other more familiar to assist further


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Reference is a 5970p

[malibudad]

Checking recent auction results is a solid move to gauge the market value. You could also explore watch forums and see what others are saying about similar models. Sometimes, private sales can offer better deals than listings on platforms like Chrono24.

[WatchTimes]

Looking at auctions, don't forget to add the buyers premium.
The premium can be around 25% depending on the auction house and that is not included usually in the auction results you see.

[dauster]

Originally Posted by tenerific

Reference is a 5970p

Pretty sure that this watch is trading somewhere between 250-275k depending on condition


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