A luxury watch is not just an expensive piece of jewelry, but also a long-time investment. The most top-tier of timepieces can even last up to a century of generations, and so your luxury Patek Philippe or even a newly-released TW Steel collection can become a family heirloom many years from now. However, there may be times that you will need to part with your timepiece, such as when you need to cash in an investment for emergencies.
However, having your luxury timepiece as a valuable investment is not that easy, as there are things you have to consider before selling your luxury watch, particularly in AZ.
For example, you may be considering selling your watch to a family friend or an acquaintance, since you feel that they will take good care of your watch. Furthermore, having a friend “take custody” of your important heirloom means that you know who to find whenever you feel ready to buy back your watch.
There are also online stores which may offer convenient transactions, without you leaving your area. At just a touch of a button and some online interviews, they say that your valuable timepiece has already been “appraised,” and will give an “appropriate” amount.
On the contrary, though, familiarity and “convenience” aside, it is much better to deal with brick-and-mortar dealers or stores, particularly well-established loan institutions. There are distinct advantages when dealing with seasoned professionals when selling pre-owned luxury timepieces, or any valuable items for that matter.
- Professional negotiations. Sure, it may be easy for you to deal with your friend when it comes to selling your watch since you will come to a price much sooner. However, the opposite is also true – they may take advantage of the personal connection to try and haggle down the cost, particularly if they really are interested in the timepiece. For professional dealers though, negotiating for a price on a valuable item is based on established checklists. As a result, you will feel that you’ll get the true value of your heirloom.
- Ease and convenience. Well-known institutions often have showrooms and premises, and all you’ll need to do is go to their store to transact. With close friends and acquaintances, you will need to fit your schedule with theirs. In addition, it may be hard to find a “willing” friend to buy a watch at its true value. Being business professionals, loan institutions will have a ready capital to negotiate for your timepiece, particularly if it is a luxurious and valuable one.
- Buy back option. When you deal with a friend, he or she may like the watch so much that they may not be willing to part with it when you decide to get it back. For an institution, a transaction is a contractual obligation, so you will feel at ease since you can check a clause for buying back your timepiece, especially if you only have it on a loan.
However, with so many dealers and retailers waiting for your valuables in AZ, you will need to find an established, well-known institution to transact with. Scattered among the many stores are fly-by-night types who may cater to your need, but will not be fair about it. They will tinker and check with your timepiece to give its “proper” value, but chances are, they will just rely on some easily-discernible factors like the brand and model of the watch, how old it is, and whether it is working. True professionals, however, look beyond what can be easily checked out, and will appreciate your valuable timepiece for what it is truly worth.
What are the distinct pluses if you deal with established loan institutions?
Professional institutions care about their standing in the business community, and will not try to hustle you out of the true value of your luxury timepiece. They are well-versed in day-to-day business transactions since they have already built their reputation for years.
Established loan dealerships provide clear and concise conditions when dealing with luxury items, particularly for mechanical valuables. For example, stipulations in your contract may deal with your timepiece “as is,” where the value of your item will be based solely on its state when assessed. Meanwhile, there may also be conditions where they will have to maintain and repair the watch if it is already in their possession, as this keeps the value for the item high. This is particularly beneficial for you should you wish to buy back your luxury watch.
Convenient community presence
Not all dealerships who have “physical” stores can be called an institution. For a store to be considered an established business, having at least two showrooms and offices are distinct advantages. This is particularly expedient for you if the professional loan institution has offices in strategic locations, say one in Scottsdale and another in Chandler. This makes it more convenient to transact with them since they will be ready to check with you in whichever location you prefer.
Reputable institutions serve customers to the utmost, and they want to give the worth of an item as close to its true value as possible. This will be an advantage to you even if you only have your timepiece passed down from generations ago. As long as you can establish ownership and verify provenance, you will be satisfied with what you will get for your watch. You should not be fooled by establishments offering “high value” for your valuables from the get-go even without inspecting it vigorously. True professionals know the worth of a luxurious item after careful considerations, including a brief history and past of the heirloom.
Accepts wide range of items
While there certainly are timepiece collectors, established institutions accept a wider range of assets, not just luxury watches. This is another distinct plus for you since a wider range means that the dealership will provide a good number of contract options, as well as offer high rates.
Biltmore Loan and Jewelry is an established loan institution and premier buyer of high-value assets in Arizona. We buy luxury timepieces or accept them as collateral for a loan. With over 30 years of experience, we can evaluate your pieces accurately and pay top-dollar for your watch and other valuables. If you want to know more about our services, set an appointment with us. Walk-ins are also welcome at our office in Scottsdale and Chandler.