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Advice please. To sell watch privately or through dealer ?

  1. Pixie

    Pixie Mar 15, 2017

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    In 2014 I bought a Speedmaster because it was manufactured in the year of my birth - 1965. I like watches, but I'm no expert and recently Ive done some online research and realise it's more valuable than I thought and so I'd like to sell. I don't think I'm comfortable with a private sale and would prefer to sell to a vintage watch shop. Obviously they'll need their profit and will give me what they see fit. Any recommendations for the best company to deal with? Or is it easier than I think to sell privately? I live in the south east of England. Thanks.
     
  2. Dero13

    Dero13 4 watches. All set to the wrong time. Mar 15, 2017

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    Personally, selling privately would be the way I would go so you don't lose out a big chunk of change to the dealer. There are plenty of people, myself included, who check the forum/eBay daily for newly listed watches and would pay fair price for them istead of you losing a large chunk of the funds to a dealer.

    That said, if you don't care about losing some of the purse and want the extra protection a dealer gives you then go ahead.
     
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  3. efauser

    efauser I ♥ karma!!! Mar 15, 2017

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    It will cost you a hell of a lot less to sell it yourself. If you have the ability to take photos that are up close and in focus, you can do it yourself (although, one look at eBay and you know that doesn't stop people). Of course, now that you posted it's a '65 Speedmaster, you've done all you really needed (or probably wanted) to do. I suspect you'll be getting PMs inquiring about it. Good job!
     
  4. Pixie

    Pixie Mar 15, 2017

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    I did cringe a bit when, after posting, I read the new member etiquette. As yet no PMs. Genuinely hadn't thought about that. Just want to avoid the greedy shops. Cheers.
     
  5. Rodmar

    Rodmar Mar 15, 2017

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    What were you hoping a shop would give you as far as value?
     
  6. Speedmasterfan88

    Speedmasterfan88 Mar 15, 2017

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    Some shops will be willing to do consignment, that might be a route for you. But that will cost you between 10-30% consignment fee. I would suggest you check speedmaster101.com he has a pretty good pricechart, deduct from there and sell it privately. Just be a bit more careful, especially if selling on eBay.
     
  7. Pixie

    Pixie Mar 15, 2017

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    Thanks for the advice. The advice I'm getting is just what I was hoping for. I'll do my research on that page.
     
    Speedmasterfan88 likes this.
  8. kingsrider

    kingsrider Thank you Sir! May I have another? Mar 15, 2017

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    If you are willing to except so much less by selling to a dealer, why not take it to an auction house?. At least you will have a chance at more money there after paying sellers fees.

    PS the PM's will come
     
  9. Pixie

    Pixie Mar 15, 2017

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    That's a great idea.
     
  10. adi4

    adi4 Mar 15, 2017

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    If you are selling privately, it's also important to "buy the buyer", just as much as the buyer is "buying the seller". So many scams and disputes out there, it's best to be patient and do your due diligence before shipping your watch out.
     
    Speedmasterfan88 likes this.
  11. prontoprint

    prontoprint Mar 15, 2017

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    I was very happy with service provided by www.vintagespeedmaster.com in helping sell a few expensive watches , there is a commission charge obviously but not silly and took a lot of hassle and stress out of the deal.

    I'm great at buying watches but useless at selling them !!!
     
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  12. Davidt

    Davidt Mar 15, 2017

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    Take several good quality pictures, from all angles, with macro shots if possible and list it on a no reserve auction on eBay.

    Then sit back and start planning how you'll spend the £6k - 10k depending on the condition.
     
    Pixie likes this.
  13. efauser

    efauser I ♥ karma!!! Mar 15, 2017

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    And start crying about how much eBay fees have gone up for private sellers and how much more you would have made selling it here (once you have 200 posts or get special approval from the staff).
     
    nonuffinkbloke, Pixie and adi4 like this.
  14. Pixie

    Pixie Mar 15, 2017

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    Crucial advice. Thanks.
     
  15. Pixie

    Pixie Mar 15, 2017

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    Ha. Thanks a lot. I like the sound of them. I'll take a look.
     
  16. oddboy

    oddboy Zero to Grail+2998 In Six Months Mar 15, 2017

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    Vintagespeedmaster.com is operated by one of the good guys... if you're OK with the commission, that might be a good way to go.
     
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  17. Fost

    Fost Mar 15, 2017

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    No offence, I don't know who is behind this site but just looked at one speedmaster description and it seems that some obvious replacement part are disclosed as 'original to the watch'.
     
  18. oddboy

    oddboy Zero to Grail+2998 In Six Months Mar 15, 2017

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    None for me. As always, satisfy yourself about anyone you're dealing with.
     
  19. onthedial

    onthedial Mar 15, 2017

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    @Pixie
    It doesn't seem like you're desperate to sell because you need the funds, so assuming that's true, you have the luxury of time to thoroughly document/photograph your Speedy, write a descriptive text detailing what you know about the watch, and research the current market value for your model number. Needless to say, I'm on the side of selling it yourself in order to gain maximum profit. [You can do it!] One other thing to think about is whether you want to limit your sale to buyers in the U.K. only, or broaden it to a worldwide audience (or selective countries). If the latter, I'd suggest opening an account with a third-party insurer like Parcel Pro, when/if you ship the package with FedEx, etc.
    _____________
    Instagram: @onthedial
     
  20. Henri68

    Henri68 Mar 15, 2017

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    I had the same question as Pixie but for a old Breitling.
    I only saw the following possibilities :
    1/ Reputable vintages watches dealer, but the profit will be lower
    2/ Auction house, only worth if highly valuable watch, maybe a 65 speedmaster is?
    3/ Sale on the forum, require time/enough posts but certainly worth
    4/ Ebay but they also have their commission and you can be disappointed by the final price (if auction)

    So pick up your favorite and tell us if it went well :)