Reasonable trade in values using Chrono 24 as a guide

[ed94582]

Understanding there could be a great deal of variance here — what would your experience be of a reasonable expectation of trade in values using the Chrono 24 estimated watch value calculations.

Say purchasing from a trusted seller grey market dealer on the TRF and meeting their listed advertised price without negotiating down.

Trade value of 90% of Chrono 24? 85%? 80%?

Thoughts greatly appreciated.

[1st amg]

I feel it is always off. Go with the lowest priced one of the model you are looking at and deduct another 10%

[ZOOK]

Originally Posted by ed94582

Understanding there could be a great deal of variance here — what would your experience be of a reasonable expectation of trade in values using the Chrono 24 estimated watch value calculations.

Say purchasing from a trusted seller grey market dealer on the TRF and meeting their listed advertised price without negotiating down.

Trade value of 90% of Chrono 24? 85%? 80%?

Thoughts greatly appreciated.

There's your first mistake!!!! Always, negotiate.

[omar-rye]

The trade in value will be based on the wholesale price. The dealer will offer you what they could buy your watch for from their wholesale contacts. In today’s market, wholesale prices are generally much more than just 10% below retail, except for a few pieces that still sell above retail.

[ed94582]

Originally Posted by ZOOK

There's your first mistake!!!! Always, negotiate.

Yes. But if you are planning on trading in - the only number that matters is the delta b/t the selling price and trade in. So I’m trying to establish a baseline for negotiation. It’s like buying a car with a trade in.

I’d rather pay 100% of the advertised price if I got 90% of the Chrono 24 estimated value on trade vs. a 20% discount from the seller but only 60% on trade value.

[omar-rye]

Which reference are you thinking of trading in? Full kit, condition, year?

[ed94582]

Originally Posted by omar-rye

The trade in value will be based on the wholesale price. The dealer will offer you what they could buy your watch for from their wholesale contacts. In today’s market, wholesale prices are generally much more than just 10% below retail, except for a few pieces that still sell above retail.

Originally Posted by omar-rye

The trade in value will be based on the wholesale price. The dealer will offer you what they could buy your watch for from their wholesale contacts. In today’s market, wholesale prices are generally much more than just 10% below retail, except for a few pieces that still sell above retail.

Understood. But I’m not using retail price as a gauge for value but rather market value from Chrono24.


For example - what is the best way to establish the wholesale price. And then if I were trading in based on wholesale value- I would expect some negotiation on the sellers listed price.

[ed94582]

Originally Posted by 1st amg

I feel it is always off. Go with the lowest priced one of the model you are looking at and deduct another 10%

Thanks. This is a good point and better reflects current market value.

[omar-rye]

Originally Posted by ed94582

Understood. But I’m not using retail price as a gauge for value but rather market value from Chrono24.


For example - what is the best way to establish the wholesale price. And then if I were trading in based on wholesale value- I would expect some negotiation on the sellers listed price.

If I were in your shoes, this is what I would do: I would get in touch with 2-3 other dealers, not including the dealer who has the watch you want to trade for. Offer them your watch and see what they would pay you. You can also fill out trade in applications with Luxury Bazaar, 1916 Company, Delray Watches, or whichever online dealer you prefer, and see how they respond.

[WristWatchWonders]

Look at WatchCharts as well. My understanding is WatchCharts tracks actual sale price while Chrono24 tracks asking price on the platform.

The more information you have, the better.

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[Robison347]

Let’s say there is a $3,000 profit built into the price of the watch you want to buy. That is not unreasonable for a Rolex in the $12-15k price range. Let’s say you have a watch of similar value, but a different model. The dealer is going to want to get the same $3k profit on your old watch, and he has to allow some $ for inspection and service, so that might mean he’ll offer $4k below the price he will ask for it.

On a Rolex in that price range, that is what I’d expect. It’s just like selling used cars or anything else.

[Harry-57]

Start speaking to dealers and let us know how you get on. We can only guess and it would be useful to get some real feedback.

[Robf52]

Originally Posted by wristwatchwonders

look at watchcharts as well. My understanding is watchcharts tracks actual sale price while chrono24 tracks asking price on the platform.

The more information you have, the better.

+1.

[daysky1]

Originally Posted by ed94582

Understanding there could be a great deal of variance here — what would your experience be of a reasonable expectation of trade in values using the Chrono 24 estimated watch value calculations.

Say purchasing from a trusted seller grey market dealer on the TRF and meeting their listed advertised price without negotiating down.

Trade value of 90% of Chrono 24? 85%? 80%?

Thoughts greatly appreciated.

On chrono24 Chrono 24 charges a six and a half percent of the sale price. So if you're talking to somebody that has the watch advertised on Chrono 24 to specific price I would at the very least expect to pay six and a half percent less if I go Direct to the company that has the watch advertised on chrono24. this is a question that I have called many of the gray Market dealers about and they've all seem to be favorable toward doing it this way fYI. what you don't know is how much less than that they are willing to negotiate to so it doesn't hurt to try.

[brandrea]

In my experience, you end up selling privately for about 20% less than the C24 price.

If you’re selling to a gray dealer it’s more like 30-40% depending on the reference

[omar-rye]

Originally Posted by daysky1

On chrono24 Chrono 24 charges a six and a half percent of the sale price. So if you're talking to somebody that has the watch advertised on Chrono 24 to specific price I would at the very least expect to pay six and a half percent less if I go Direct to the company that has the watch advertised on chrono24. this is a question that I have called many of the gray Market dealers about and they've all seem to be favorable toward doing it this way fYI. what you don't know is how much less than that they are willing to negotiate to so it doesn't hurt to try.

Good point

Originally Posted by brandrea

In my experience, you end up selling privately for about 20% less than the C24 price.

If you’re selling to a gray dealer it’s more like 30-40% depending on the reference

That’s been my experience as well. I sold my 214270 privately for 40% more than what the dealers offered me.

[brandrea]

Originally Posted by omar-rye

Good point



That’s been my experience as well. I sold my 214270 privately for 40% more than what the dealers offered me.

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[~JJ]

Originally Posted by brandrea

In my experience, you end up selling privately for about 20% less than the C24 price.

If you’re selling to a gray dealer it’s more like 30-40% depending on the reference

^ realistic results

[brandrea]

Originally Posted by ~JJ

^ realistic results

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[Roddypeepa]

I think it will depend on local markets and how much of a safe bet/risk it is.

For example, a clean gmt ii will be an easy sell at the right price but something like a Yachtmaster less easy. So I think prices will reflect that. I’d expect a bigger difference in some of the popular
On here but less popular with the general public.

I also think some dealers are absolute jokers in how much profit they want -£1500 for a sub, 2.5 k for a gmt etc.

these are the kind with YouTube channels whereas the “old school” dealers who have been in business decades can see the bigger picture and value long term customers over the here and now.

[Mathematoxic]

Depending on the model..
Comparing trusted dealers prices(reasonable ones) on trf Vs wholesale price :
Stainless steel sports models are between $1k to $2k difference.
Gold Daytonas $3k to $7k
Stainless steel datejust $1.5k to $2k

General rule is : The lower the demand, the bigger the delta.

[ed94582]

Originally Posted by Mathematoxic

Depending on the model..
Comparing trusted dealers prices(reasonable ones) on trf Vs wholesale price :
Stainless steel sports models are between $1k to $2k difference.
Gold Daytonas $3k to $7k
Stainless steel datejust $1.5k to $2k

General rule is : The lower the demand, the bigger the delta.

Agreed it depends on the model. I was hoping to have some reference for demand and trade in values when trading say an AP Diver and a Panerai White Dial Submersible for a white gold Rolex Sub. Maybe it’s the current lowest priced on C24 minus 10% as someone suggested when paying full asking price from the Trusted Seller.

[Calatrava r]

Originally Posted by omar-rye

The trade in value will be based on the wholesale price. The dealer will offer you what they could buy your watch for from their wholesale contacts. In today’s market, wholesale prices are generally much more than just 10% below retail, except for a few pieces that still sell above retail.

Absolutely, the selling prices on Chrono24 mean nothing in terms of trade-in value. That is the wholesale used market dealer buy price and that will vary somewhat among the dealers depending on what their needed margins are. The more established a dealer is, the less they need to pay as more people will want to deal with them because of their reputation. The hotter the watch the less the margin generally.

[subtona]

As a general guide I would say on average c24 is 20% higher than reality

[offrdmania]

You can never go off of asking price. Anyone can ask whatever they want.

I like using eBay for market analysis because you can search the sold prices.

[LJubel328]

Originally Posted by subtona

As a general guide I would say on average c24 is 20% higher than reality

I’d say 10-20% sounds about right depending on model.

OP, if you’re looking for trade-in value expect a dealer to offer you less than the amount after the 10-20%


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[Ozboy]

Originally Posted by 1st amg

I feel it is always off. Go with the lowest priced one of the model you are looking at and deduct another 10%

Could not agree more. This is exactly what I offer as advice to those who ask me or say that they can get more for their watch because they saw it offered for more on C24; however, I usually say 15-20% off. I think it's dealer controlled.