What would you do?

[elysium73]

Hi all,
New to this forum, but I figure there's a lot of expertise here. I was gifted a dressy Audemars Piguet Day & Date watch as a wedding gift from my in-laws eight years ago. It's completely brand new and still in the box. It's just not my style.

I recently got into watches and wanted to start with some purchases more in line with dive and tool watches, but obviously it can be pretty expensive. I'm figuring if I'm able to sell it, I could buy one or two that I'd really appreciate and wear with maybe even some money to spare.

1. Is it best to sell because the value of the watch will depreciate over time? My understanding is, unless it's a rare timepiece, this will generally be the case?

2. If I were to sell it, what would be the best channels to pursue? I'm not sure how to do it because I think it's not one of the popular Audemars models like a Royal Oak.

3. What other factors should I consider? I appreciate any words of wisdom.

In regards to selling the gift, honestly, I don't think my in-laws would mind. My guess is they've forgotten what they've exactly gotten me and they'd rather me use the watch to enjoy something. At this rate, it might just remain in it's pristine condition until I'm really pressed to sell or do something with it, ie. funding my kid's college tuition.

Just weighing my options right now, but wanted to see if any of you seasoned watch people had any good input. Thanks for your time!

[jpwv]

Keep it. Eventually your tastes will change and you will appreciate having something with sentimental value.

[vman]

Keep it. That is not a bad model at all and after you go through the "tool" watch phase, you may end up appreciating watches you could easily wear to dressy occasions.

Your understanding is correct--unless you have a rare, desirable model it is highly likely that the watch will depreciate. However, the depreciation will not be endless and at some point your watch will hit the floor price, i.e., you'll be able to sell the watch for _that_ much at any time.

But back to my original point--what you have is quite a watch. Keep it, wear it to events where you are likely to bump into your in-laws and enjoy the watch ;-)

[brandrea]

Welcome

If you haven’t worn it (much), perhaps take it to your nearest AP dealer and see what they’d do on a trade for something you like more.

[Jay (Eire)]

When I hear Day Date AP I think Royal Oak. Is it a Royal Oak or some other model? What metal?

Re depreciation at this point you've probably hit the floor or close to it. This is a generalization and may be different depending on the specific model/watch you have.

Re selling it, you'll get more $$$ doing so yourself but there's hassle associated with that. You could also take it to a dealer, new/used whatever and either see if they will purchase it or allow you to put it towards a trade for another watch. But be prepared to be shocked, most likely your watch isn't worth a fraction of what you think (to the dealer especially but also if you try to sell solo).

Re what to consider. Well, you say you are just getting into watches. If this is a Royal Oak I wouldn't sell it, the RO is a classic and there's a chance (strong one) that as time goes buy you may end up actually appreciating the design/history etc. The same could also be said even if this is a more classic dressy model. Point being for most people here tastes, likes, wants can and have changed a lot over thier years of collecting. Some stuff I owned 15 or 10 years ago I would never touch today.

The major consideration when getting into this game is that 99% or time it makes no sense to buy new. And 99.99% of time it makes no sense to pay retail (or above for that matter). Be smart about the price you pay as there's a good chance at this point of your journey you'll be selling whatever you buy. You want to limit your losses.

Good luck!

[elysium73]

Thanks for all the input so far. I think there's some confusion. I do NOT have the RO. Haha. I have a dressy AP with diamonds. It's too flashy for me and wouldn't match my style. I don't think this will every change because I've felt that way ever since receiving the watch 8 years ago.

I can't post the full link because I don't have enough posts under my belt, but it's a Jules Audemars Day & Date with diamonds surrounding the case.

I'm thinking through whether to move the piece or not, but I guess if it has bottomed out in value, it makes no difference and I can just wait. This may very well be the case since 8 years have passed.

In terms of sell/trade value, any estimates? Are we talking about 60-50% of retail or something a lot less like 10%?

Thanks for all the help.

[kunlun]

Your in-laws will kill you.

They definitely will remember and they already don't approve of you because you are shallow.

[AK797]

Originally Posted by elysium73

Thanks for all the input so far. I think there's some confusion. I do NOT have the RO. Haha. I have a dressy AP with diamonds. It's too flashy for me and wouldn't match my style. I don't think this will every change because I've felt that way ever since receiving the watch 8 years ago.

I can't post the full link because I don't have enough posts under my belt, but it's a Jules Audemars Day & Date with diamonds surrounding the case.

I'm thinking through whether to move the piece or not, but I guess if it has bottomed out in value, it makes no difference and I can just wait. This may very well be the case since 8 years have passed.

In terms of sell/trade value, any estimates? Are we talking about 60-50% of retail or something a lot less like 10%?

Thanks for all the help.

Originally Posted by kunlun

Your in-laws will kill you.

They definitely will remember and they already don't approve of you because you are shallow.

That's their job so I say sell away . I think you might get 30-40% of its price, not a popular model. Send a PM to Davidsw here and see if he will take it or OCROLEXGUY who is near you.