A designer timepiece is beyond a status symbol that reveals itself with a flick of a wrist; it is a treasure that stands the test of time. Those of you who own an expensive watch know it as an investment reserved for the dauntless who can afford it.
As much as your eyes glimmer with pride at the sight of your high-end watch — especially if you own an impressive collection — the moment may arrive when you find yourself wondering if it’s time to downsize or reshape your collection. Letting go is a big step, so you may still be on the fence about selling your timepieces. If this thought has crossed your mind too many times, then perhaps you should explore the top reasons to sell your luxury watches in order to make an informed decision.
Why You Should Sell Your Watch in Phoenix, AZ
If you’ve entertained the idea of selling your Patek Philippe, Rolex, or Audemars Piguet but still have hesitations, here are seven encouraging reasons to do it without feeling regretful.
1. You Need the Money
Like you, most people invest in timepieces from leading watch brands for the simple reason that they can afford it. Sadly, that is not always the case for everyone, especially during financially stressful and uncertain times. If you find yourself in need of replenishing your funds, then selling your designer watch is a viable option since it can retain a significant amount of worth.
2. The Value of Your Timepiece Has Soared
The value of pre-loved luxury timepieces can increase for a number of reasons. For instance, if a famous celebrity or fashion icon is spotted wearing a Hublot Big Bang, then the demand for it may soar along with the price, regardless if the watch up for grabs is new or from the secondary market. And, as previously mentioned, a luxury watch is an investment, one you can choose to resell when the value rises.
3. Your Tastes in Watches Have Evolved
Do you have a friend who always boasts about the Cartier Santos watch their parents had given them as a graduation gift? Or could you be that fortunate soul yourself? Whichever the case, receiving a high-end timepiece in your teenage years or early twenties is like a rite of passage. However, the watch you wore every day as a young adult might not compliment your elevated, more sophisticated style ten years later. It might be time to upgrade, and that means it’s time to sell your old one.
4. You Want an Upgrade
This one’s related to reason number four. Often, those of us who already own a luxury timepiece will develop a craving for more. This leads us to compare our older watches with the newer models, which then causes us to notice the slight differences between old and new; from bolder looks to more tech-savvy options. Similar to living in your family home for many years, at some point, you may want a change of scenery or something new and exciting. The rule of thumb is; if you can afford it without making a significant dent in your savings, then do whatever your heart desires. The money from selling your old house — or in this case, your old timepiece — will also help you pay for your new investment.
5. Realizing That Owning an Expensive Watch Can Be a Chore
Having an expensive watch does require some maintenance to preserve its luxe appearance and reliable functionality. In hindsight, we are not all knowledgeable in caring for these treasures in the same way many car owners don’t know how to maintain their rides. A malfunctioning timepiece in need of repair is an upsetting sight, and sending it to a professional horologist may burn a hole in your pocket. Therefore, weigh in your fight or flight response before making a decision — fight for your watch when it makes sense financially, but also know when it’s time to let go and sell.
6. You’ve Outgrown It
If you’re one of the lucky individuals who received a luxury timepiece from your grandparents — or maybe from a former flame — then the chances are that the watch in your possession is either an heirloom or a reminder of a bad relationship. Whichever the case, you may have once worn that Omega or Blancpain with a smile on your face, but now it no longer suits you and may only remind you of a negative past.
If no one else in your family wants to keep the heirloom, then selling your timepiece for a profit is a practical option. As for the gift from your ex, unless you are hoping for a reconciliation, then there seems to be no reason for you to hold on to it.
7. You No Longer Wear the Watch or Forgot You Even Had It
A luxury watch that you haven’t worn in months and has begun collecting dust in your drawer does no one any favors. It will benefit you more to sell the timepiece, and then use the money from the sale to buy yourself something you would actually use.
Are you looking to sell? Here are some helpful tips from Biltmore Loan and Jewelry
Should you decide that any of the reasons above has convinced you into selling your luxury timepiece, best to be prepared. The pre-sale preparation includes speaking with your family members who might be invested in the heirloom more than you, an authenticity check to ensure the watch is an original piece, and as with many high-end goods, make sure the timepiece’s documentation and package are in order as an added enticement for collectors.
Once you’re ready to sell your watch in Scottsdale or Chandler, AZ, Biltmore Loan and Jewelry can appraise your timepiece in order to determine its worth. To get started, please provide the details of your item and your personal information here. You can also contact our office at 480-991-5626 or 480-705-5626 to schedule an appointment.