There are individuals and organizations that purchase used luxury watches when you want to sell yours. They both have their advantages and disadvantages.
Preowned Watch Dealers
Preowned luxury watches are bought and sold by companies specializing in the field and should not be confused with pawnbrokers. Rolex and OMEGA are popular brands because they can be resold faster, but they will buy and sell most Swiss brands. When businesses purchase and sell second-hand watches or chronograph watches, they have to add taxes and profit margins. In addition, they do not offer top dollar for your model since they must remain competitive with their selling prices. As long as you deal with an established and reputable company, the transaction will be mostly safe and fast.
Many watch enthusiasts want to add to their collection of chronograph watches and are common private buyers. If you own a model that collectors strongly desire, they will be willing to pay more for it. Their goal is to acquire an item missing from their collection. While market value is important, there is a little more flexibility regarding prices.
Flippers can also be found. Watchmakers have been plagued by this problem for years. Watches are a source of enjoyment for most of us. In contrast, a flipper purchases a model in order to profit from it. The result is long and fruitless price negotiations because of it.
Selling your watch directly may seem like it's the best option because you can get the highest price, but it involves trading with strangers. Among the places where you can advertise your model and locate potential buyers are online forums and social media websites. It comes with many risks becoming a watch dealer for a day. Buying or selling a luxury watch can lead to a lot of scams. Scams are easily spotted by professionals as they possess the knowledge and experience. It is not my business to deal in chronograph watches, and I will not try to sell them to strangers.
If you sell your watch to someone you meet for the first time, the extra cash you can make does not justify the risks involved. It is possible to find videos on YouTube about how not to be scammed. My recommendation is that you do not sell your watch to someone you don't know if you aren't an experienced vintage watch seller because it's quite likely that you'll get nothing.
Other OMEGA Watch Buyers Near Me
In my opinion, the best option for selling your classic or vintage watch is to sell it to someone you know, someone that you trust. While you've owned your watch, someone might have admired it from afar. It is likely that your friends and colleagues will be interested in your modern or vintage model if you tell them that you are selling it.
Your price should be closer to what you would expect the second-hand market to trade for.
You can offer your friend a model at $9,000 if the model is worth $10,000 on Chrono24.com. Your friend will get a good deal on an OMEGA model and you will get more money for your watch. You will be more comfortable transacting with a friend or colleague who you trust. Furthermore, trust makes it easier for them to purchase a preowned model. The only drawback is that you will always be connected to the watch if you sell it to a friend. Whenever something goes wrong, your friend or colleague will call you to ask you to fix it. Your friend will eventually tell you something is wrong with the watch, whether it be in a year, a month or five years from now. A long pause follows where they imply that you need to act. I have witnessed this phenomenon repeatedly. The worst-case scenario has been that such transactions strain friendships.
Being upfront and clear with your friend before undertaking any business is the best way to prevent this problem. Let your friend know that the model will need maintenance. It is necessary to have an OMEGA watch serviced over time, and this will have to be done by an authorized OMEGA service centre. When you own a mechanical model, you need to maintain it.