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DadsWatch72 · 25 November 2009, 06:00 AM

I have been thinking of selling my watch for a while now. IF I were to sell it, I would want the most I can sell it for (of course). I have seen auctions where Paul Newman Daytona's have sold for over 100K as well as other very nice vintage Rolex that fetched top dollar.

I see some pros and cons to auctions. They allow bidding wars and in return, you maximize your sale. On the downside, you have to pay a percent to the house. I'm not sure how taxes play into a sale either.

If you directly sell it to a buyer, your not sure if someone else would have paid more for the same watch. And again, I don't know how taxes come into play for selling a watch. Do you have to report that on your taxes?

25 November 2009, 06:00 AM	#1
DadsWatch72 Banned Join Date: Jul 2009 Location: USA Watch: DRSD 1665 #3551XXX Posts: 2,401	HOW TO SELL A WATCH: Auction or Direct selling I have been thinking of selling my watch for a while now. IF I were to sell it, I would want the most I can sell it for (of course). I have seen auctions where Paul Newman Daytona's have sold for over 100K as well as other very nice vintage Rolex that fetched top dollar. I see some pros and cons to auctions. They allow bidding wars and in return, you maximize your sale. On the downside, you have to pay a percent to the house. I'm not sure how taxes play into a sale either. If you directly sell it to a buyer, your not sure if someone else would have paid more for the same watch. And again, I don't know how taxes come into play for selling a watch. Do you have to report that on your taxes?

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