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#1 |
"TRF" Member
Join Date: Jul 2022
Location: EU
Watch: ...TF
Posts: 31
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Selling a watch. Price strategy.
Hi there, I am planning to part with my Datejust 36, through Chrono24.
I would be glad if the forum members share their selling strategy, mainly in terms of pricing. May be you know, that Chrono24 suggest certain selling pricem based on the criteria one provides (about the watch). So, some questions arise: 1. Should I count on their suggested price and accept it or should I go above or below. I am not in a hurry selling the timepiece, but I want to offer a fair price - one suitable for me and at the same time - attractive to the potential buyer... 2. Based on your knowledge or experience - Does Chrono24 show price history of the watch offered? I hope not. 3. What are the benchmarks/strategy to be used, in order to sell your watch at a fair price and in a reasonable time (which is 3-6 months in my case)? Thanks for the opinions! |
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#2 |
2024 ROLEX SUBMARINER 41 Pledge Member
Join Date: Jul 2012
Real Name: Kat
Location: CA, USA
Watch: 126233 Wimbledon T
Posts: 6,952
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We don’t do valuations. What you can do is check Chrono 24 for your exact model, of similar age and condition, and see what the average asking and selling prices are. We also have a classified section here, that you can check. Good luck,
Kat Sent from my iPad using Tapatalk |
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#3 |
"TRF" Member
Join Date: May 2020
Location: Shreveport
Posts: 1,284
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With no sell history, be prepared to have to sell pretty low in the current market. Good luck.
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#4 | |
"TRF" Member
Join Date: Jul 2022
Location: EU
Watch: ...TF
Posts: 31
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Quote:
The questions are asked in principle. Thanks for the post. |
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#5 | |
2024 Pledge Member
Join Date: Mar 2007
Location: US
Posts: 3,836
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Quote:
You can also offer to one of the Trusted Sellers on this forum, but be prepared to be offered wholesale. Good luck. |
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#6 |
"TRF" Member
Join Date: Jul 2022
Location: EU
Watch: ...TF
Posts: 31
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#7 |
"TRF" Member
Join Date: Mar 2023
Real Name: David
Location: Socal
Watch: Patek 3970
Posts: 325
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Don't know how much you value your time? If you're giving yourself 3-6 months to sell, thinking starting high and negotiating down if needed the time involved can add up.
Also keep in mind we are in a down mkt so time may not be on your side. Best of luck |
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#8 |
"TRF" Member
Join Date: Mar 2023
Real Name: David
Location: Socal
Watch: Patek 3970
Posts: 325
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In regards to pricing based on recent experience trading in at reputable dealer, larger brick and motar will give you 10-20+ off an avg chrono24 $. Independent online only dealers will offer 10-15% off an avg $ (less overhead).
You likely won't get over an avg chrono24 $ unless it's a F2F transaction |
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#9 |
"TRF" Member
Join Date: May 2020
Location: Shreveport
Posts: 1,284
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#10 |
"TRF" Member
Join Date: Jul 2022
Location: EU
Watch: ...TF
Posts: 31
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Thanks @4reRlxGuy! These 2 comments were more useful!
More comments, fellows? |
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#11 | |
2024 ROLEX SUBMARINER 41 Pledge Member
Join Date: Jul 2012
Real Name: Kat
Location: CA, USA
Watch: 126233 Wimbledon T
Posts: 6,952
|
Quote:
You mentioned the word price in all of your bullet points. Perhaps I should have been more clear. We don’t suggest anything specific, regarding pricing a watch for sale, except to offer you ideas of how to find that info. I was trying to be helpful, as was Bill. We answered you the best way we could, given our forum’s rules. Kat Sent from my iPad using Tapatalk |
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#12 |
"TRF" Member
Join Date: Jul 2022
Location: EU
Watch: ...TF
Posts: 31
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I am thinking now... Isn't it logical that Chrono24 suggest a price below the average, so that there is a quicker sale, thus their comission comes quicker?
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#13 | |
"TRF" Member
Join Date: Jul 2022
Location: EU
Watch: ...TF
Posts: 31
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Quote:
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#14 |
"TRF" Member
Join Date: Apr 2015
Location: EARTH
Watch: What is "watch"?
Posts: 1,099
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Here's some advice. Chrono24 pricing is rarely representative of market value. So Don't use their pricing for reference. Most of what you find there is "hopium". Sadly, lots of inexperienced buyers' get duped into buying high.
__________________
“UNpolished or I’m not interested” 😎 ![]() |
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#15 |
"TRF" Member
Join Date: Aug 2018
Real Name: Martijn
Location: Amsterdam
Watch: On the left wrist
Posts: 722
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Use your personal network and other channels, like your local watchforum. Never sold or bought a used watch via Chrono24. All f2f transactions with vetted counterparts.
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#16 |
"TRF" Member
Join Date: Sep 2022
Location: UK
Watch: 226570
Posts: 942
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I haven’t sold on Chrono 24 but I can give you my perspective as a buyer. You are competing with a lot of others so it will be hard.
1) To start with you need to be competitive on price - competitive enough to get me to click on the link. 2) Next thing I’ll check is whether you are trade or private - as a private seller, you need to be even more competitive. 3) Assuming you are competitive, I am now sceptical of you, your watch and its condition. I need to get enough from the advert that it makes me believe that it’s genuine, you own it and a bit of history/ detailed condition. Original receipts/ invoices, paperwork for any repairs done, any correspondence with Rolex/ AD.really clear photos and sensible answers to any queries. They all help otherwise I’ll pass it by as there are so many to choose from. And I don’t think you broke forum rules - you very clearly asked for selling experiences and strategy, not a valuation. |
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#17 |
"TRF" Member
Join Date: Jul 2022
Location: EU
Watch: ...TF
Posts: 31
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Another valuable opinion. Thank you!
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#18 |
"TRF" Member
Join Date: Jul 2022
Location: EU
Watch: ...TF
Posts: 31
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#19 | |
"TRF" Member
Join Date: Sep 2021
Location: SFO
Posts: 1,191
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Quote:
Agree with all points above. He didn't ask for an actual valuation at all but seems like folks' reading comprehension is on point... If you want to sell on C24 I would: 1. Make sure your price is within the first 5-10 for said model when you sort by L - H price... I'd never scroll down the first 10 pieces of a particular model since most of that price is either woefully outdated or beyond hope for it ever to move 2. If you're a new private seller, be prepared to offer another 5-15 off of the listed price 3. Ensure you have plenty of detailed pictures of the condition, box, potential bill (void of address or financial info) to etablish that it's a credible piece 4. Be prepared for outrageous low-ball offers to boot If you want way less hassle call up one of the trusted sellers and get a wholesale offer but bring tissues for the offer... Sent from my iPhone using Tapatalk |
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#20 |
2024 ROLEX SUBMARINER 41 Pledge Member
Join Date: Jul 2013
Real Name: Brian (TBone)
Location: canada
Watch: es make me smile
Posts: 76,399
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C24 pricing is aspirational at best. When I look there, I generally figure the “real price” that you’d realize is about 15-20% lower on most references.
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#21 | |
"TRF" Member
Join Date: Jul 2022
Location: EU
Watch: ...TF
Posts: 31
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Quote:
Tbh, I dont mind the hassle, as I have no problem to receive (even outrageous law-ball) offers or regular ones. And comment properly. I contacted a reputable Rolex wholeseller in my country, but that's when I received an outrageous offer with 45 (fourty five) % discount. To be precise it was including detailed watch service. I declined. |
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#22 |
"TRF" Member
Join Date: Apr 2020
Location: NY, NY
Posts: 460
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Feel free to use Estate jewelry consignment shop…..
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#23 |
2024 Pledge Member
Join Date: Aug 2016
Location: CA
Posts: 1,150
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Given that chrono24 is not bankrupt, people must be paying those prices, or at least some price based on the offer.
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#24 |
"TRF" Member
Join Date: Jul 2022
Location: EU
Watch: ...TF
Posts: 31
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First responces!
Well, I followed the advises you gave me and there you go - I received the first message from a potential byer!
Now...I am confused about something - the person is asking me a practical question about measuring something. Chrono24 prompts me "to make an offer", which is something different from the contect of the actual request...I guess the message from Chrono24 is automated...But should I make an offer and what does this mean? Thanks for the opinions! |
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#25 |
"TRF" Member
Join Date: Dec 2017
Location: Michigan, US
Posts: 344
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To the first post - I would strongly recommend offering the watch for sale at one of the popular trusted brick and mortar stores. DavidSW, Bob's watches, etc etc - you can submit photos with some details and get a quote. Yes, you will be given a low price but you will know ballpark what your watch will be sold for. These stores also offer (relatively) more peace of mind with the sale - you just ship them the watch and you get paid.
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#26 | |
"TRF" Member
Join Date: Aug 2020
Location: Earth
Posts: 370
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Quote:
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#27 |
2024 ROLEX SUBMARINER 41 Pledge Member
Join Date: Jun 2020
Real Name: Omar
Location: somewhere
Watch: 126515LN (sundust)
Posts: 1,194
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personally, i think you're better off listing it on the reddit watch exchange subreddit. you won't have to pay fees for listing the watch, and you're going to get much better day-to-day exposure.
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#28 |
2024 Pledge Member
Join Date: Aug 2013
Location: Itinerant
Watch: 79010sg
Posts: 8,283
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Just sell to Thanh or Patrick or other trusted seller.
Sent from my iPhone using Tapatalk |
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#29 |
2024 ROLEX SUBMARINER 41 Pledge Member
Join Date: Mar 2017
Location: United States
Watch: Rolex and Patek
Posts: 11,047
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Chono24 prices by dealers reflect the fees they have to pay to list there. To sell your watch there you will need to be below the market just slightly. Too low and you scare everyone off. To me it is just easier to sell the watch to a used watch dealer. Most send labels and wire the cash upon receipt. There can be a lot of headaches and risks in private selling watches these days which are best avoided for usually just a few bucks less from the dealer.
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