Selling a watch. Price strategy.

[valdim]

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!

[KatGirl]

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


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[S’portEye]

With no sell history, be prepared to have to sell pretty low in the current market. Good luck.

[valdim]

Originally Posted by KatGirl

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


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I am not expecting an evaluation, @KatGirl, otherwise I would specify a lot of details (which are must in case one evaluates)...
The questions are asked in principle.
Thanks for the post.

[BillA]

Originally Posted by KatGirl

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


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+1
You can also offer to one of the Trusted Sellers on this forum, but be prepared to be offered wholesale.
Good luck.

[valdim]

Originally Posted by BillA

+1
You can also offer to one of the Trusted Sellers on this forum, but be prepared to be offered wholesale.
Good luck.

Why nobody answers my questions, but provides answers to different questions?

[4reRlxGuy]

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

[4reRlxGuy]

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

[S’portEye]

Originally Posted by valdim

Why nobody answers my questions, but provides answers to different questions?

I gave you a strategy, start low if you want it to move.

[valdim]

Thanks @4reRlxGuy! These 2 comments were more useful!

More comments, fellows?

[KatGirl]

Originally Posted by valdim

I am not expecting an evaluation, @KatGirl, otherwise I would specify a lot of details (which are must in case one evaluates)...
The questions are asked in principle.
Thanks for the post.

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


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[valdim]

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?

[valdim]

Originally Posted by KatGirl

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


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Thank you Kat. I dont want anybody breaking the forum rules...Hope I am not breaking them, too.

[0nly5iv3Digits]

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.

[Batmannr1]

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.

[Mr Ben]

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.

[valdim]

Originally Posted by 0nly5iv3Digits

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.

Another valuable opinion. Thank you!

[valdim]

Originally Posted by Batmannr1

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.

Thanks for the advice!

[messikens]

Originally Posted by Mr Ben

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.

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...


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[brandrea]

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.

[valdim]

Originally Posted by messikens

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...


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Such posts make me realize I did good to ask my questions in this forum. VERY helpful, thank you @messikens!

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.

[2000-NJDEVILS]

Feel free to use Estate jewelry consignment shop…..

[massabee]

Given that chrono24 is not bankrupt, people must be paying those prices, or at least some price based on the offer.

[valdim]

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!

[gamingdoctor]

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.

[daysky1]

Originally Posted by valdim

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!

What I would do first is Google the reference number date of The Watch and evaluate the condition fairly or take it to a jewelry store that sells Rolexes and ask them what condition they would consider the watch to be in. Then you have to consider whether you have a full set which would mean the Box the white sleeve the white or green hang tag and the superlative chronometer tag the warranty card and all that came with the watch full set of links any service record the more you have the more you're going to be able to get up to a certain point for your watch. There is plenty of information out there when you do a Google search on watches for sale that would be the same or very similar to the one that you're trying to sell you can use that information to determine what a fair price would be. I wish you well in getting a fair price for your watch and also providing someone else with a watch they can enjoy for many years.

[omar10213245]

Originally Posted by valdim

Thanks @4reRlxGuy! These 2 comments were more useful!

More comments, fellows?

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.

[GGGMT]

Just sell to Thanh or Patrick or other trusted seller.


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[Calatrava r]

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.