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Local shop offered me peanuts for my NTTD Seamaster... is the market this bad?

HarryFitz
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Hey everyone, just needing to vent.

I stopped by a local shop with my Omega Seamaster "NTTD" to see what they’d offer. They quoted me $4900 flat on a trade-in.

I understand dealers need to make a profit, but $4.9k for a pristine titanium Bond full kit watch feels like a slap in the face. Honestly, I’d rather keep it on my wrist than practically give it away just so they can pull a massive margin on the flip.

Has anyone else been getting these kinds of bottom-dollar offers lately?

NTTD.webp
 
Duracuir1
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One of my favorite models. I wish I could afford one.

Try putting it up for auction. (EBay, local auction). Set a reserve.
 
HarryFitz
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Duracuir1 Duracuir1
One of my favorite models. I wish I could afford one.

Try putting it up for auction. (EBay, local auction). Set a reserve.
Thanks man, it really is a beautiful piece! I appreciate the suggestion. I've thought about eBay, but their seller fees on luxury watches can be pretty brutal and eat right into the margins.
 
DON
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You have to understand. They have to sell it. It could sit for days. It could sit for years. You like it. To me it’s not attractive and I wouldn’t look twice at it.

That’s trade in. Maybe you be glad on what they would pay cash. Lot worse I would think

About $8500-$9000 on eBay asking. Sold $7200-$9700
 
HarryFitz
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DON DON
You have to understand. They have to sell it. It could sit for days. It could sit for years. You like it. To me it’s not attractive and I wouldn’t look twice at it.

That’s trade in. Maybe you be glad on what they would pay cash. Lot worse I would think

About $8500-$9000 on eBay asking. Sold $7200-$9700
But with those $7.2k+ sold comps, giving up over $2k in equity just isn't worth the convenience for me!
 
amuscare87
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HarryFitz HarryFitz
But with those $7.2k+ sold comps, giving up over $2k in equity just isn't worth the convenience for me!

Try selling it on watchexchange on Reddit if your worried about giving up equity on eBay
 
bananapeanut
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It's a low offer. Don't accept it. You can get $6.5-7k easily from a private buyer. It's still a popular watch.
Edited:
 
Dan S
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Trade-in at a retail store is always going to be the lowest price. It's what someone does if they have no other way to sell or can't be bothered to put the energy into getting more out of it. If you want more, you can go through the trouble of selling it, but it's a pain in the neck, and some people don't care enough about $1k or $2k to deal with selling.

I have a friend like this. When he's tired of a watch, he just goes in to the dealer and takes whatever they offer. He doesn't care. He traded in a 2016 Explorer for $4k. And I'm pretty sure that the dealer just sells them all in bulk to a wholesale buyer. They certainly aren't interested in going to the trouble of fixing them up and selling them in the store.
 
G___
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Offer it for sale on Chrono24 or send it through an auction with a known auction house.
 
cristos71
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Yeah, agreed 99% of the time trying to sell a watch to a watch shop or dealer is a one way road to Disappointmentville. Even trading in is as good as never worth it.

OP, what would you have found an acceptable offer from the shop?
Edited:
 
HarryFitz
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Oof, that $4k Explorer story physically hurts to read! But you're absolutely right. It all comes down to the convenience tax and how much you value your time versus your money. I totally get why some guys with deeper pockets just don't care, but for me, giving up $2k+ just isn't worth saving a few hours of hassle.
 
HarryFitz
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cristos71 cristos71
Yeah, agreed 99% trying to sell a watch to a watch shop or dealer is a one way road to Disappointmentville. Even trading in is as good as never worth it.

OP, what would you have found an acceptable offer from the shop?
Disappointmentville is exactly right! I completely understand they need to make their margin, so I wasn't expecting private sale prices. But for a full titanium kit, I was hoping for an offer closer to $6,000 or $6,500. Sub-$5k just felt like an absolute lowball
 
HarryFitz
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G___ G___
Offer it for sale on Chrono24 or send it through an auction with a known auction house.
I've definitely been considering Chrono24! It's a great platform with huge reach, though their seller fees are something I have to factor in. An auction house is an interesting idea too, but I might try a direct private sale first to avoid the premiums on both sides.
 
Dan S
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HarryFitz HarryFitz
I've definitely been considering Chrono24! It's a great platform with huge reach, though their seller fees are something I have to factor in. An auction house is an interesting idea too, but I might try a direct private sale first to avoid the premiums on both sides.
Direct private sale is the best if you are a credible seller and have a strong network or other way to market your sale. For example, if you have a strong following on an IG page where you post your collection, you might be able to market it there.
 
Davidt
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It seems like what I’d expect as trade in. Don’t they sell around $7k. A bit less private and Maybe $8k from a fancy bricks and mortar dealer.

if my understanding of value is correct, I don’t thinks it’s anywhere near realistic to expect $6500 from a dealer. Its convenience vs best price. You can’t have your cake and eat it.
 
cristos71
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Davidt Davidt
It seems like what I’d expect as trade in. Don’t they sell around $7k. A bit less private and Maybe $8k from a fancy bricks and mortar dealer.

if my understanding of value is correct, I don’t thinks it’s anywhere near realistic to expect $6500 from a dealer. Its convenience vs best price. You can’t have your cake and eat it.

Agreed, I can imagine a dealer looking for around a 50% margin on a watch like this. Less on a Rolex Sub, etc.
 
Yelfel
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This makes me question why and how Omega (and every other brand not Rolex/Patek/AP) continues to sell new watches at retail when they themselves don’t support the secondary value of their watches. Genuinely asking, why walk into an AD and pay full retail when you can buy essentially new/pre-owned at 50% retail?
 
CalgaryJim
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Why hasn’t anyone suggested he sell the watch here? Because of the amount of time and posts he needs?
 
Radius321
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Yelfel Yelfel
This makes me question why and how Omega (and every other brand not Rolex/Patek/AP) continues to sell new watches at retail when they themselves don’t support the secondary value of their watches. Genuinely asking, why walk into an AD and pay full retail when you can buy essentially new/pre-owned at 50% retail?
some people value that white glove AD Service - for me its just about the product some of my favourite watches ive literally bought by going round to someones house to buy in their kitchen or fly to another country to meet at an airport
 
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