Has anybody ever used one of the well-known used watch dealers to sell their watch on consignment? I’d send my watch to them, they’d supposedly achieve a decent price, and then charge a set fee for the sale.
My concerns are firstly the lack of security should they fold as a business, and the fact that if the watch sells, the buyer has a two week returns period.
The price they’d achieve sounds good, and I’m sure plenty of sales are successful via this method, but maybe selling privately at a lower price is the way forward? I just have some goals I’m looking to achieve right now, so the temptation to maximise the value is there, if that makes sense.
A good dealer will have a pretty clear view on what they can sell it for so I'd imagine your payout from a sale to a dealer vs consignment to a dealer would be only slightly less and may be more / easier than a private sale?Originally Posted by W44NNE
Sounds like a lot of hassle when you could just list it here for not a lot less
The times I have looked at this kind of arrangement I never went for it as all the risk is on you. The t&c were all heavily weighted in favour of the intermediary or the buyer.
If you think about it, it’s a hot watch and will likely sell instantly so why wouldn’t the third party just buy it off you.
i sold mine a week or so ago for 15k euro, so around 13.9k sterling. That was to a dealer who will probably look to make 1-2k off it.
i dont think you will achieve much more as a private seller than 14-14.5k. And selling via consignment when i looked into it wasnt going to net me materially more but was going to take time and introduce risks id rather not have.
Unless you are talking a lot of money, I personally wouldn’t take the risk. I’d rather have the money now as things can go wrong. I’d have thought it easy to sell yourself or get a deal from a decent dealer - WF’s offer we’re very poor people were saying a while back so I wasn’t meaning them.
I can't think of many watches easier to sell than a Hulk at the moment. Surely just listing it on here in Sales Corner wil see you achieve pretty well what you would from a reseller once their fees are taken into consideration, only with zero risk. Of course you'll get the odd post accusing you of profiteering, but just ignore those!
as echoed above; for something as sought after as a hulk I'm sure you will be better off selling privately
just toying with this myself but not sure.If they damage it or polish it ,where do you stand then
But as a Rolex, a lot more flak.
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What is the price they have promised you?
I’ve done it a couple of times with a local dealer ,but something like that he’d just buy off you outright at a decent price .
I’m sure some dealers on here would take it .
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Outright sale imo - suspect you've even had a couple or three PMs already
Nah just sell it yourself.
Started out with nothing. Still have most of it left.
I had a couple of offers to sell my Hulk this way but didn’t fancy the thought of it being left with a third party and also potential postage issues.
Some years ago I sold a number of high value watches on consignment via Mark Blowers. They were mainly Cartier ladies watches in gold and diamonds. Very hard to sell privately and he got them exposed to much wider audience and advised and organised Cartier servicing which he paid for and all got sorted on sale. Was a very good experience but for an easy to move watch don’t think necessary
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For a popular item like that no chance I'd go with consignment. SC, someone you know already, or straight to the trade.
It will sell on SC, just be ready for abuse from some for selling above RRP
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I've done it before and i'd do it again. In my case a higher price was achievable even with the dealer cut as the dealer has a list of contacts and knows who wants what and can sell it very quickly.
I will note however that I had previously bought and sold from the dealer and had a good relationship with them. All paper work was dealt with before the watch was handed over and neither of us were in any doubt about what we required from the deal.
I will add that I'm also just lazy and I've also done this with some of my cars as I generally just can't be bothered with the hassle!
Good luck with the sale :)
I take it the dealer is geographically distant?
We do a few SOR (sale or return) sales for clients where they keep hold of the watch and if someone wants to view they drop it round to us the day before the appointment.
This is for local clients obvs but im sure there must be some dealers in your area which offer the same service if youre concerned.
Watchmaster seem to offer high prices but be sure to check all of the small print. They will charge you for inspection costs etc etc. Personally with a watch like that I would either list it carefully and accept payment on collection OR for a quick sale speak to some of the Hatton garden dealers.
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Thanks for all the responses. Lots of great info as always. The only reason I didn't list on SC was for the flak I see some people getting thrown at them, but I've taken the words of wisdom and gone ahead with a listing
A friend of mine used Chrono Hunter to sell one of her watches and she had nothing but good things to say of them as an outfit/route to market if don't want to sell to a member of the public.
But, as you are doing, always good to offer to a fellow enthusiast here at TZ Wayne.
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