Luxury watches belong to high-end brands, but that is not the only thing that qualifies them as being luxurious. They are also known for their craftsmanship, quality, and prestige. However, the second-hand watch valuation changes drastically after it has been owned. The change in value decreases initially, then skyrockets after a few decades.
The second hand watch market share counts for up to 30% of the total luxury market sales. This stat shows the key roles of vintage luxury watches in the marketplace. This market can be easily exploited. With enthusiasts and collectors looking for specific models and brands, counterfeiters are looking to con them of their money. This article seeks to help buyers get the best value for their money.
By exercising due diligence, buyers can minimize the risk of purchasing counterfeit second-hand watches. This write-up will show you what a proper verification process entails. Likewise, this post will help sellers keep their timepieces in good shape for the best second hand watch valuation.
Luxury Second Hand Watch Authentication and Verification Process
Before a second hand watch can be valued or sold, it needs to be certified. Certified Pre-Owned Watches are watches that have undergone testing by a professional. After being examined, they are certified to have met standards and qualities of authenticity. Hence, this section considers some of the steps buyers use to ensure they receive genuine timepieces.
The first approach is to conduct thorough research on the brand or watch. Familiarizing with the features of the watch will help you identify a defect or counterfeit. Buyers can find essential details about the watch, such as its reference number, the case, dial, hands, markers, crown, movement type, or brand engravings.
The researched features of the watch will help the second-hand watch buyer inspect the outlook of the handpiece when received. That way, they can look for signs of wear or damage indicating counterfeit or altered components of the wristwatch. For instance, authentic watches often have their unique serial numbers.
Depending on the watch, you can check if the reference number is engraved on the case. Most watches have this number engraved on the back of the case. Buyers have to confirm the serial number of the pre-owned watch against the manufacturer’s record. Another essential detail to check is the brand’s logo if it is not altered.
Aside from the essential features of the watch, luxury handpieces come with accessories and documentation. Buyers need to be aware of documentation like warranty cards, certificates of authenticity, instruction manuals, and service records. Examine these documents for their authenticity or signs of tampering. Also, check for accompanying accessories, such as boxes, tags, or straps, where it applies.
Buyers also employ online authentication tools to verify the authenticity of their watches. Some brands or third-party establishments allow you to access key information about watches by entering their serial number.
Common Restoration Practices for Second Hand Watches
Restoration practices are steps for sellers looking to get the best second-hand watch valuation. That way, they can keep the watch in the best shape for second-hand watch auctions or direct sales. These practices involve revitalizing and preserving the timepiece’s authenticity and charm.
To begin with, cleaning and polishing the luxury pre-owned piece has a lot of yield. Thoroughly clean the watch to remove dirt, debris, stains, and residue accumulated over time. Use soft brushes and milt soap solutions to clean the case, bracelet, and crystal. You can even polish metal cases to restore their original luster and shine.
If the watch is not running as should then you should service the movement. Except you are qualified, you should get an expert to disassemble the movement and lubricate the components. In selecting an expert, ensure you pick a qualified watchmaker with expertise in the specific brand and configuration.
Where necessary, you should replace worn or damaged parts. For instance, wearable components of the watch like the crystal, crown, gaskets, and bracelet will show signs of wear. Non-wearable parts like the dial and hands can start fading too. When replacing these components, choose genuine components from the watch manufacturer.
To win the buyer’s trust, sellers have to keep detailed records of any servicing and restoration work done on the pre-owned watch. The record should include details like servicing, repairs, and component replacements. Likewise, documentation like receipts, warranty cards, instruction manuals, and certificates of authenticity, assures authenticity for future owners.
How to Take Care of Your Vintage Watch?
Vintage watch is categorized among handpieces that have been used for upwards of two decades. Maintaining this kind of watch is different from keeping a second-hand timepiece valuable. Here, maintenance is tailored towards longevity and keeping it functional. However, owners have to ensure it is also being cleaned regularly.
Step 1: Regular cleaning
Should include the removal of accumulated dirt, stains, and debris on the watch. Owners should avoid the exposure of the timepiece to water when cleaning, in use, and when in storage. The only exceptions to this maintenance procedure are watches designed for water resistance. Avoid water-related activities because they can damage the movement, case, and seals. Like water, extreme temperatures can cause mild or irreparable damage to your vintage second-hand watch. Hence, avoid exposing it to extremely hot or cold temperatures. Even if the configuration is not affected, its lubrication and seals may be compromised.
Step 2: Magnetism
Avoid magnetic fields produced by speakers, electronic devices, or magnets. Magnetism can affect the accuracy of the movement. This maintenance procedure requires storing your watch away from harmful conditions like sunlight, dust, moisture, electronic devices, or magnets.
Step 3: Follow the manufacturer’s recommended service intervals
Typically, you are expected to service a vintage luxury watch every 3 to 5 years. Regular servicing helps owners clean, lubricate, adjust components, and demagnetization of the second-hand watch when necessary.
Step 4: If it breaks
If you notice any issues with your watch, you should take it to a professional for inspection and repair quickly. Addressing the issue promptly can prevent further damage.
Step 5: Long-term storage
Proper storage when the watch is not in use involves storing it in a watch box or pouch. You can even use a watch winder for vintage mechanical watches when it is not being worn.
Second-hand Watch Marketplace Trends and Dynamics
Well-maintained luxury watches from renowned brands may still command a high price in the second-hand market due to their quality and prestige. Conversely, older or less popular models may be available at significantly lower prices. Whether a second-hand watch is cheaper, or not, depends on different factors that require careful consideration before making a purchase.
Market demand for second hand watches varies from time to time. This demand is driven by factors of affordability, accessibility to luxury brands, or a growing appreciation for vintage pre-owned timepieces. All these factors can be in operation simultaneously or in different instances.
The most easily influenced factor is the growing appreciation for these timepieces. Undoubtedly, the role of social media cannot be sidelined in shaping consumer preferences. For instance, if public figures, social media influencers, collectors, or enthusiasts share content, there might be a swift change in the global market of buyers and sellers.
Final Thoughts
Second-hand watches often retain value and appeal to collectors and enthusiasts. Overall, the resale of second-hand watch value is driven by its rarity, condition, reputation, and market demand. If uncertain about the authenticity of a second-hand watch, seek professional authentication services to verify the authenticity of the watch.
In a similar fashion, seek guidance from experienced watchmakers, collectors, or horological experts when unsure about restoration practices or a watch’s value. Above all, handle your watch with care to avoid impacts or drops that can reduce second-hand watch valuation and functionalities. Hence, mind how you adjust the time, date, winding the watch, and storage to prevent unnecessary stress.
We recommend storing your watch with a Mozsly watch winder. Mozsly is a professional brand that manufactures watch winders, offering offers TPD customized settings (for all watch winding needs). We use the Japan Mabuchi motor which offers 2 power modes (making the battery last up to 30 days.) We also offer a wide range of products like watch boxes, watch roll holders, and more.
FAQs
1. Are Second-Hand Watches Cheaper?
Second-hand watches are often cheaper than their brand-new counterparts. However, the price of a used watch depends on various factors such as the brand and model, its condition, scarcity and demand, age, materials, features, and market trends.
2. Do Jewelers Buy Second Hand Watches?
Yes, many jewelers buy second-hand watches. In fact, some jewelers specialize only in buying and selling pre-owned luxury watches. However, a larger percentage of jewelers offer this service alongside their primary business of selling new jewelry and watches.
3. Is It Okay to Buy a Pre-Owned Watch?
Yes, it is okay to buy a pre-owned watch. It is advantageous to buy second-hand watches instead of new releases because you can save costs, access unique styles, and it is environmentally sustainable.
4. Why Are Pre-Owned Watches So Expensive?
Pre-owned watches can be expensive due to factors like brand prestige, scarcity, and demand. If the watch is a limited edition or discontinued model, it will attract more value. Furthermore, well-maintained second-hand watches command higher price tags.
Leave A Comment