Watches for auctions: tips to know

October 16, 2020

Selling antique or luxury watches at auction is a great option for those who are not satisfied with the cost of buying an accessory at a pawnshop.


World financiers regard the auction trade as a unique phenomenon. You'd think an object that's already been sold should have a lesser value over time. Auctioneers, however, have the ability to resell rare items for more than its original price.


For luxury watches, auctions don't always work out as planned. But to ensure your auctions run smoothly, you need to undergo a thorough evaluation of the watches that will be auctioned off.


Think like an expert and pay attention to these factors.


1. Look at when a watch is released and purchased. With careful handling, branded watches' value will increase every year.


2. Number of pieces in a series. Mass-produced models don't sell as much as watches created in limited quantity, between 100-1500 pieces.


3. Check its manufacturer. Chronographs of Swiss companies are considered the most expensive. High quality and first-class components ensure a watch's longevity. Often, Swiss watches with more than a century of history, which are in excellent condition, end up at world auctions.


4. Pay attention to its condition and performance. Products with original parts and working mechanisms are most appreciated. Every repair and restoration will lower the original cost of a luxury watch.


5. Design, decoration, and materials used. It's natural that watches made of gold or platinum, decorated with diamonds, will cost more than analog watches made of conventional metal alloys.


What do you need to auction off your watch collection?


Today, there are several large websites where auctions are regularly held. One of them is Public Auction Finder (PAF), a leading online and live auctions platform.


To put a watch on sale on PAF, you must register on the trading platform and provide the following information:


  • A detailed description of the lot


  • Upload high-resolution images


  • Attach assessment results by specialists


  • Provide seller's contact information


After verifying the information, the auction site sets the date and time for the auction. If the lot turns out to be really interesting, then you can get quite good money for it. You can order a professional assessment of luxury watches to participate in the auction on the Buy-Status company's website.


If you are the owner of exclusive Swiss, American, and even Soviet chronographs, you can leave an application for their sale on the official websites of the world's largest auctions that are held offline. However, you should be prepared for possible difficulties in obtaining permission to take your property abroad. In most cases, it is much easier to contact a specialized watch center and hand over a watch for 70-80% of its market value.