In the last ten years, it has grown to dominate half of the entire global watch trade, according to leading expert Karine Szegedi. And there's no sign of business slowing down, with projections worth $30 billion likely to be reached in just the next two years.

This growing demand means great news for collectors as now is an exceptionally lucrative time to sell. By working with professional watch buyers and sellers, you’ll get a competitive price whilst enjoying a simple, safe, and stress-free service that takes the tedious aspects of watch selling off your hands.

However, there are some steps you can take yourself prior to making a deal. In the early stages of selling your luxury watch, we recommend checking the condition of your watch, clean it as and when, have the details and history of your watch to hand, and finally, do the research on where you decide to sell your watch.

How to check the condition of your watch

Luxury watches last a lifetime. This means your buyer will expect a functioning timepiece worth its high-end reputation. A key area to inspect includes the crown. This is the small addition on the side of the model used for winding the watch’s hands, its appropriate function allows the wearer to adjust the time and is therefore vital to the watch’s very function.

Assess the condition of the strap or bracelet links that fasten the watch. There are different verdicts on how tight a watch should be, but too tight and too loose are what leads to chafing and rashes around the wrist. Hence, you might want to replace broken links or weathered straps. Most high-end watches secure their links with sturdy screws but with a spring bar removal tool, or any pointy object in fact, they can be unscrewed to allow for a tighter or looser manipulation.

Other vital inspections concern the interior of the watch. Navigating how to remove the back of a watch can be tricky and we will always advise the assistance of a skilled technician. If you’re in possession of a quartz watch, you’ll know that how to change a watch battery involves opening up the case to allow for replacements.

How to clean your watch

To clean your watch it’s necessary to take note of the different materials at play. With most watches, a simple lightly damped cloth is efficient for tackling bracelets and cases. Although, please note that this method isn’t suitable for leather watch straps.

If you’re wondering how to get rid of watch scratches, some polish, buffing cloth, a gentle touch, and some perseverance is a good solution. But once again, the material of the watch can get in the way of this. If yours is finished with a matte or bead-blasted coating, it is best to get scratches addressed by a professional.

For vintage watch collectors, there’s a lot more leeway. Authenticity is prized increasingly above a squeaky-clean exterior. Teo van den Broeke writes for GQ Magazine ‘to polish or not to polish’. Broeke explains that polishing in an attempt to rid away small dents and scratches means sacrificing the original surface of the watch, flattening out the authentic architecture of the case, strap, bezel and lugs. Not only will this surrender the watch’s vintage charm, but will actually lessen its strength where, in the long run, its surface will be much less equipped to deal with abrasive activity.

Knowing your watch

Prior to your watch’s market debut, gather the basic information needed to advertise successfully. This includes the model name, number and serial number, all of which will be on the original warranty or appraisal paperwork.

Things are made easier if you’re the lucky owner of a Rolex as their models handily feature their model and serial number on the watch itself (you can locate these between the case lugs).

Otherwise, most brands choose to home the watch’s defining numbers on the inside of the caseback. If you’re struggling to remove the back of the watch, a professional can do so safely with the right tools. They might also be able to provide you with more information on the history of your watch and unearth some previously undiscovered unique selling points. An official survey of your timepiece will lend it enhanced credibility amongst buyers and you’ll be able to enjoy the fruits of your sale in no time.

Deciding where to sell your watch

The method and platform you choose to sell your watch with is a significant decision as it could affect the price that is settled on. There are multiple routes you could take, with some collectors enjoying the informality of selling privately both online and in person. Although, without a professional mediator, it can be a gamble for both parties.

At Panache, we always recommend the safe and legitimising option of selling to a trusted retailer. Doing so involves an expert in the field, a safe premise to exchange, and a fair price.

Sell your watch with Panache

At Panache Luxury Watches, we are an experienced presence in the watch-selling business located in the heart of Birmingham’s Jewellery Quarter. We take care to offer you an easy, hassle-free experience so you can enjoy the proceeds. Whether you’re just curious about the process or ready to sell, contact Panache today.