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21 July 2024, 08:54 AM | #1 |
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Selling a watch. Price strategy.
Hi there, I am planning to part with my Datejust 36, through Chrono24.
I would be glad if the forum members share their selling strategy, mainly in terms of pricing. May be you know, that Chrono24 suggest certain selling pricem based on the criteria one provides (about the watch). So, some questions arise: 1. Should I count on their suggested price and accept it or should I go above or below. I am not in a hurry selling the timepiece, but I want to offer a fair price - one suitable for me and at the same time - attractive to the potential buyer... 2. Based on your knowledge or experience - Does Chrono24 show price history of the watch offered? I hope not. 3. What are the benchmarks/strategy to be used, in order to sell your watch at a fair price and in a reasonable time (which is 3-6 months in my case)? Thanks for the opinions! |
21 July 2024, 09:01 AM | #2 |
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We don’t do valuations. What you can do is check Chrono 24 for your exact model, of similar age and condition, and see what the average asking and selling prices are. We also have a classified section here, that you can check. Good luck,
Kat Sent from my iPad using Tapatalk |
21 July 2024, 09:03 AM | #3 |
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With no sell history, be prepared to have to sell pretty low in the current market. Good luck.
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21 July 2024, 09:04 AM | #4 | |
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The questions are asked in principle. Thanks for the post. |
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21 July 2024, 09:23 AM | #5 | |
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Quote:
You can also offer to one of the Trusted Sellers on this forum, but be prepared to be offered wholesale. Good luck. |
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21 July 2024, 09:28 AM | #6 |
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21 July 2024, 09:31 AM | #7 |
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Don't know how much you value your time? If you're giving yourself 3-6 months to sell, thinking starting high and negotiating down if needed the time involved can add up.
Also keep in mind we are in a down mkt so time may not be on your side. Best of luck |
21 July 2024, 09:37 AM | #8 |
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In regards to pricing based on recent experience trading in at reputable dealer, larger brick and motar will give you 10-20+ off an avg chrono24 $. Independent online only dealers will offer 10-15% off an avg $ (less overhead).
You likely won't get over an avg chrono24 $ unless it's a F2F transaction |
21 July 2024, 09:41 AM | #9 |
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21 July 2024, 09:44 AM | #10 |
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Thanks @4reRlxGuy! These 2 comments were more useful!
More comments, fellows? |
21 July 2024, 09:51 AM | #11 | |
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Quote:
You mentioned the word price in all of your bullet points. Perhaps I should have been more clear. We don’t suggest anything specific, regarding pricing a watch for sale, except to offer you ideas of how to find that info. I was trying to be helpful, as was Bill. We answered you the best way we could, given our forum’s rules. Kat Sent from my iPad using Tapatalk |
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21 July 2024, 09:53 AM | #12 |
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I am thinking now... Isn't it logical that Chrono24 suggest a price below the average, so that there is a quicker sale, thus their comission comes quicker?
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21 July 2024, 09:55 AM | #13 | |
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Quote:
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21 July 2024, 10:08 AM | #14 |
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Here's some advice. Chrono24 pricing is rarely representative of market value. So Don't use their pricing for reference. Most of what you find there is "hopium". Sadly, lots of inexperienced buyers' get duped into buying high.
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21 July 2024, 05:39 PM | #15 |
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Use your personal network and other channels, like your local watchforum. Never sold or bought a used watch via Chrono24. All f2f transactions with vetted counterparts.
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21 July 2024, 05:56 PM | #16 |
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I haven’t sold on Chrono 24 but I can give you my perspective as a buyer. You are competing with a lot of others so it will be hard.
1) To start with you need to be competitive on price - competitive enough to get me to click on the link. 2) Next thing I’ll check is whether you are trade or private - as a private seller, you need to be even more competitive. 3) Assuming you are competitive, I am now sceptical of you, your watch and its condition. I need to get enough from the advert that it makes me believe that it’s genuine, you own it and a bit of history/ detailed condition. Original receipts/ invoices, paperwork for any repairs done, any correspondence with Rolex/ AD.really clear photos and sensible answers to any queries. They all help otherwise I’ll pass it by as there are so many to choose from. And I don’t think you broke forum rules - you very clearly asked for selling experiences and strategy, not a valuation. |
21 July 2024, 06:51 PM | #17 |
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Another valuable opinion. Thank you!
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21 July 2024, 06:54 PM | #18 |
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22 July 2024, 01:52 AM | #19 | |
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Agree with all points above. He didn't ask for an actual valuation at all but seems like folks' reading comprehension is on point... If you want to sell on C24 I would: 1. Make sure your price is within the first 5-10 for said model when you sort by L - H price... I'd never scroll down the first 10 pieces of a particular model since most of that price is either woefully outdated or beyond hope for it ever to move 2. If you're a new private seller, be prepared to offer another 5-15 off of the listed price 3. Ensure you have plenty of detailed pictures of the condition, box, potential bill (void of address or financial info) to etablish that it's a credible piece 4. Be prepared for outrageous low-ball offers to boot If you want way less hassle call up one of the trusted sellers and get a wholesale offer but bring tissues for the offer... Sent from my iPhone using Tapatalk |
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22 July 2024, 02:09 AM | #20 |
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C24 pricing is aspirational at best. When I look there, I generally figure the “real price” that you’d realize is about 15-20% lower on most references.
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23 July 2024, 12:20 AM | #21 | |
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Tbh, I dont mind the hassle, as I have no problem to receive (even outrageous law-ball) offers or regular ones. And comment properly. I contacted a reputable Rolex wholeseller in my country, but that's when I received an outrageous offer with 45 (fourty five) % discount. To be precise it was including detailed watch service. I declined. |
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23 July 2024, 01:27 AM | #22 |
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Feel free to use Estate jewelry consignment shop…..
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24 July 2024, 12:19 AM | #23 |
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Given that chrono24 is not bankrupt, people must be paying those prices, or at least some price based on the offer.
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29 July 2024, 06:33 AM | #24 |
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First responces!
Well, I followed the advises you gave me and there you go - I received the first message from a potential byer!
Now...I am confused about something - the person is asking me a practical question about measuring something. Chrono24 prompts me "to make an offer", which is something different from the contect of the actual request...I guess the message from Chrono24 is automated...But should I make an offer and what does this mean? Thanks for the opinions! |
8 August 2024, 06:22 AM | #25 |
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To the first post - I would strongly recommend offering the watch for sale at one of the popular trusted brick and mortar stores. DavidSW, Bob's watches, etc etc - you can submit photos with some details and get a quote. Yes, you will be given a low price but you will know ballpark what your watch will be sold for. These stores also offer (relatively) more peace of mind with the sale - you just ship them the watch and you get paid.
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8 August 2024, 06:30 AM | #26 | |
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Quote:
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11 August 2024, 07:04 AM | #27 |
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personally, i think you're better off listing it on the reddit watch exchange subreddit. you won't have to pay fees for listing the watch, and you're going to get much better day-to-day exposure.
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11 August 2024, 01:43 PM | #28 |
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Just sell to Thanh or Patrick or other trusted seller.
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12 August 2024, 06:59 AM | #29 |
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Chono24 prices by dealers reflect the fees they have to pay to list there. To sell your watch there you will need to be below the market just slightly. Too low and you scare everyone off. To me it is just easier to sell the watch to a used watch dealer. Most send labels and wire the cash upon receipt. There can be a lot of headaches and risks in private selling watches these days which are best avoided for usually just a few bucks less from the dealer.
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