Selling Patek Philippe: Used Watch Dealer vs Private Sale

February 23rd, 2024

Selling Your Patek Philippe Watch: Watch Dealer vs. Private Sale


Patek Philippe is one of the oldest Swiss watch manufacturers in the world. If you own this luxury watch, there may come a time that you may want to sell Patek Philippe watch.

 

Selling Your Patek Philippe Watch for Maximum Profit
Patek Philippe Golden Ellipse with iconic blue stick dial in 18k. Ref 3738/122

 

For almost 200 years, Patek Philippe has remained a private-owned company. This timepiece is known as one of the most prestigious brands in luxury watchmaking. Patek Philippe has set the gold standard of modern watchmaking. 

Patek Philippe designs and manufactures luxury watches including movements and some of the most complex mechanical watch components.  


If you own a Patek Philippe luxury watch, you have the best in design, craftsmanship, and heritage sitting on your wrist. This very exclusive luxury watch has sold less than one million pieces since it was first manufactured in 1839. 

Although most Patek Philippe owners intend to pass their timepieces to the next generation, you may however come to the conclusion it is time to sell my Patek Philippe watch. You may choose to sell, consign or trade your used timepiece. 

A Patek Philippe watch is one of the most coveted timepieces in the secondary market. Aside from the limited number of Patek Philippe watches manufactured per year, the demand for the Patek Phillipe remains high. 

The secondary market of used Patek Philippe watches is smaller than other luxury watches, such as Rolex. Add to that, few establishments that have watch experts who are knowledgeable about the intricacies of this highly-complex timepiece. 

 

Sell Your Patek Philippe Watch
Patek Philippe Annual Calendar Regulator in 18k rose gold on a leather strap. Ref 5235/50R

 

When you are looking at selling your Patek Philippe, you need to decide between working with a used watch dealer and doing a private sale to an end buyer. 

Your choice will dictate the ease of the selling process and how much money you will get from the sale. 

Your choice boils down to which selling method will give you a quicker  selling process with less risk or one that requires more time, effort, and patience but with a possible higher return.   

If you are debating  on which route to take when you want to sell Patek Philippe watch, read on so you can make an informed decision on which selling method is right for you. 

 

Used Watch Dealers

Selling used Patek Philippe watches is not a stressful task when you are dealing with a used watch buyer. If the buyer offers online services all you need to do is fill up a quote form and you will get a free quote. 

 

Unlock the Value of Your Patek Philippe Watch
Patek Philippe Calatrava in 18k rose gold with ivory color dial on black crocodile strap with PP 18krose gold tang buckle. Ref 5115R-001

 

Used watch dealers are in the business of buying and selling pre-owned Patek Philippe watches. They have watch experts who are knowledgeable about this luxury brand and the second-hand market. This expertise allows them to accurately appraise your luxury watch. Obviously all used watch dealers are not created equal. You should always search for a used watch buyer with excellent Better Business Bureau rating and high star customer reviews. 

Selling your timepiece to a Professional Patek Philippe buyer comes with a lot of benefits: 

  • An easy and fast way to sell your luxury watch
  • They understand the marketplace for used Patek Philippe watches
  • A safe and secure transaction
  • Instant offers 
  • Quick payments 
  • They take care of selling your watch

A used watch dealer knows what you are selling and the current market price for it. The watch dealer has luxury watch experts to receive your watch, inspect it, and determine how much it is worth.  

On the other hand, selling your watch to a professional Patek Philippe buyer has some drawbacks:  

  • May offer  lower returns
  • You have no control over the selling process

Used watch dealers will buy your Patek Philippe watch at a lower price because:

  • They will perform checks and make any necessary repairs on your watch. 
  • They have overhead costs. 
  • They also have to re-sell your watch at the profit. 

 

Private Watch Sales

You can opt to sell Patek Philippe watch via private sale. This selling method allows you to sell your luxury watch directly to the end user who could be a relative, friend, or colleague.

 

Maximize Profit Selling Patek Philippe
Patek Philippe Twenty 4 in 18k white gold with silver diamond dial, bezel, down sides of bracelet & Roman numerals on links. Ref 4910/41G

 

You can also sell your watch via an advertisement in social media, forums, marketplaces, or an online auction. 

Benefits of a private sale include:

  • Minimal expenses or fees for the sale. 
  • You are likely to get more for the sale of your watch. 

Drawbacks of a private sale include: 

  • You need to spend time preparing your timepiece for selling (e.g. appraisal, cleaning or repair, etc.)
  • You need to market your watch. 
  • Requires more time to close a sale. 
  • You will need to talk and negotiate with a lot of people before closing the sale. 
  • You take charge of the entire selling process from advertising, negotiating, shipping, and accepting payment. 
  • High risk of getting scammed. 

Private sales are best done amongst friends and relatives to ensure it is a safe transaction. Relying on your inner circle as prospective buyers will give you limited options.

 

Factors to Consider in Choosing Between a Used Watch Dealers vs. Private Sale

Choosing between a used watch dealer and a private sale to sell Patek Philippe should be given much thought.

 

Selling Your Patek Philippe Watch Made Easy
Patek Philippe Aquanaut in stainless steel, auto w/ sweep seconds and date and 38 mm case size. Ref 5065

 

Consider these factors that go with selling our Patek Philippe before choosing which route to take. 

  • Value of the watch. Your Patek Philippe is an expensive watch. You may not have the right network to sell your watch. Used watch dealers have a ready marketplace or direct buyers to sell your watch to. Besides, a watch as expensive as a Patek Philippe requires top-notch selling skills. 
  •  Timeframe for selling. The selling process when working with used watch dealers is quick. If you are in a rush to sell your watch, they are your best choice. 
  • Personal level of expertise in selling luxury watches. Although you own the watch, you may not have enough knowledge about it. A buyer may ask too many questions you may not be able to answer which may cause you to lose the deal. 
  •  Level of risk tolerance. If you are not a risk taker, go for something safe and secure- work with used watch dealers. If you have a high level of risk tolerance then opting to sell my Patek Philippe watch via a private sale is a good option. 

Your choice boils down to choosing between a quicker  selling process with less risk or a selling process that requires more time, effort, and patience but with a potential for a  higher return. 

  •  Desired level of control over the sales process. If you want to have full control over the sales process, do a private sale. Working with a used watch dealer does not allow you to personally sell your watch to the end buyer. 

 

Luxury Patek Philippe Watch Brands We Buy

Conclusion

The choice between working with a used watch dealer and doing a private sale depends on how much time, effort, and patience you are willing to invest when you sell Patek Philippe watch. 

Each selling method has benefits and drawbacks. Working with a professional Patek Philippe buyer is easy and quick. It is a secured transaction and you get immediate payment. However, you may receive less. 

If you sell my Patek Philippe watch through personal sales, you have full control of the selling process. You will receive more for your timepiece but you will need to do all the dirty work that goes with selling a luxury watch. Besides, it entails a lot of risks. 

Many people who have experienced selling Patek Philippe watches have done so by working with a used watch dealer. The quick and hassle-free selling process makes up for the lower amount they received for the sale. Check out our services at SellUsYourJewelry.com and see that we offer the best way to Sell Patek Philippe watch. 

 

 

 

Claudine Faifer: Estate Jewelry & Sterling Silver Specialist

Meet Claudine Faifer: Estate Jewelry & Sterling Silver Specialist

Meet Claudine Faifer an estate jewelry, watch and sterling silver specialist with a professional career spanning over 50 years, including an impressive 30 years career at Gray and Sons Jewelers, the premier destination for selling, buying, repairing and consigning luxury watches and estate jewelry… Read more of Claudine Faifer's Life Story

 

 

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