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Local shop offered me peanuts for my NTTD Seamaster... is the market this bad?
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Davidt
·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?
A small number of brands retaining value is the exception not the rule. It’s also a bit of a myth. Outside of a few select models and versions, most Rolex’s sell for less than you pay brand new if you take it to a watch dealer 6 months after you bought it.
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amuscare87
·He only has a small number of posts. Think you need a minimum to sell
200 posts
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Meme-Dweller
·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.
Is that a picture of your actual watch? Because if so, it's not "pristine" and the asking price for it was $6,795 before negotiations by the Reddit seller from 9 months ago.
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masteroftime
·I ran a search using the ebay seller's research tool. Out of 71 used examples sold over the past year (in the US?), the average of sales prices was $7,156.00. The three lowest sales were for 5,300.00, 5,628.75, and 5,950.00. Highest were between $8,800.00 and $8,595.00.
eBay fees aren't low, but I think they are often overstated. For a seller without a subscription in the US, it is:
Assuming a watch like this sells for $7k, a seller would pay $540 in fees plus shipping. That's a 7.71% effective rate. Not that bad. Most watch dealers charge more taking the watch on consignment.
When making an offer on this, a lot of dealers are going to check eBay and some dealer groups and make an offer based on the lowest comparable listings.
eBay fees aren't low, but I think they are often overstated. For a seller without a subscription in the US, it is:
- 15% on total amount of the sale up to $1,000 calculated per item
- 6.5% on the portion of the sale over $1,000 up to $7,500 calculated per item
- 3% on the portion of the sale over $7,500
Assuming a watch like this sells for $7k, a seller would pay $540 in fees plus shipping. That's a 7.71% effective rate. Not that bad. Most watch dealers charge more taking the watch on consignment.
When making an offer on this, a lot of dealers are going to check eBay and some dealer groups and make an offer based on the lowest comparable listings.
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bananapeanut
·Chico Hide instead of Swiss Made ? A.I. Generated image ?
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Meme-Dweller
·Chico Hide instead of Swiss Made ? A.I. Generated image ?
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pdxleaf
··"I cut it TWICE and it's still short!"I like how you're worried about margins/fees, but ignore the shop owner's need to pay rent, employees, insurance, utilities, taxes, shipping if not local, etc. and other risks.
Plus the big one is the warranty. Good shops often service a watch if needed and offer a warranty for a year or two.
I'm surprised people are surprised
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G___
·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.
Just read all about the various seller best practices and avoiding scams. I'm sure there are threads here.
Why hasn’t anyone suggested he sell the watch here? Because of the amount of time and posts he needs?
Good luck!
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.
And if you don't have a forum or other means of private selling, may we suggest you hang around here?
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Dan S
·eBay fees aren't low, but I think they are often overstated. For a seller without a subscription in the US, it is:
- 15% on total amount of the sale up to $1,000 calculated per item
- 6.5% on the portion of the sale over $1,000 up to $7,500 calculated per item
- 3% on the portion of the sale over $7,500
C24 has far better fees than eBay. C24 takes 6.5% whereas eBay is 13.5% for watches. eBay also charges fees on taxes and other bs. For a high value watch, is avoid eBay.
Ebay keeps changing their fees on watches. Here is the latest in the US. The three tier system posted by @masteroftime is now only for parts and accessories. I don't know where the 13.5% is from, maybe an older rate.
The current rate for the OPs watch would be 9%. However, it's worth mentioning that the fees are paid on the full sale, including tax and shipping. Also, in the US, eBay will send you a 1099 for tax purposes so that you can pay capital gains tax.
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lenndon
·200 posts
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amuscare87
·Look who is just over that 😁
FINALLY
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Yelfel
·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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G___
·Ebay keeps changing their fees on watches. Here is the latest in the US. The three tier system posted by @masteroftime is now only for parts and accessories. I don't know where the 13.5% is from, maybe an older rate.
The current rate for the OPs watch would be 9%. However, it's worth mentioning that the fees are paid on the full sale, including tax and shipping. Also, in the US, eBay will send you a 1099 for tax purposes so that you can pay capital gains tax.
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Radius321
·Why hasn’t anyone suggested he sell the watch her
Agree 100%. I've driven from San Francisco to Los Angeles and Philadelphia to New York to pick up a watch, but have yet to fly to another country/airport to do so. Maybe the next one!
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bsowers34
·I bought one new on c24 in September 24 for 7900 all in. Full set brand new. The bracelet just didn't work for me and I HATE straps, plus the FOIS came out and I wanted that. So i took a big hit and sold it for 5000. Live and learn. Now I kinda wish I still had it.