Millions of people are facing severe economic challenges these days, and maybe you’re among them. Knowing that you are not alone provides cold comfort when the bill collectors ring your phone. If you have a timepiece you suspect is valuable, you might be wondering, “How much is my watch worth?”
Determining the value of an old watch requires a thorough examination of multiple factors. You want to ensure that you get the maximum amount possible if you decide to sell. Ask yourself the following questions before heading to the pawnshop or the antique store.
1. How Old Is It?
First, you need to determine whether your timepiece is antique or merely vintage. You might have heard the 25-year rule previously, but this figure only applies to items like vehicles that see frequent use and break down readily. Many dealers follow the standard that anything over 100 years old qualifies as antique, whereas those that haven’t reached the century mark fall into the vintage category.
This classification matters when it comes to money. Antique items are tax-free, meaning you keep a more substantial portion of the sale. Additionally, many collectors will pay top dollar for genuine antiques, whereas they will offer far less for vintage.
2. Who Manufactured the Watch?
When it comes to watches, quality matters. You can pick up an inexpensive timepiece at nearly any department store, but high-quality designer watches become heirlooms immediately. That’s because skilled horologists use the most exclusive cogs and gears so that their products will last for centuries.
Don’t assume that you won’t get much for your item if it doesn’t say Rolex. There is a niche market for watches, particularly those like railroad pocket watches that the government designed to synchronize time. Do your research on what equivalent models earn on the market.
3. What Materials Is It Made From?
A watch made from gold will have a higher value than one made from aluminum. A reputable dealer will look at the current market price of the metal when determining what to offer. They also need to determine the weight of the material and what karat the gold is. Think of it like building a house. One framed with 2x6s will have greater durability — and value — than one containing only 2x4s.
4. Does The Item Have Gemstones?
Does your watch contain any precious gemstones? If so, the variety, as well as the cut, color, and clarity of the pieces, will influence your sales price. If your timepiece contains a rare blue diamond, welcome to the millionaire’s club.
They’re worth a whopping $3.93 million per carat, enough to pad your early retirement fund. Other valuable gems include rubies, emeralds, and alexandrite. The answer to how much your watch is worth may be considered if it has valuable stones.
5. How Many Calibrations Does It Have?
Your watches’ calibrations enable you to set the time with precision down to the millisecond. The more calibrations you have, the more accurate your timepiece will be.
Items with multiple hands to reset require more steps to calibrate correctly. They also have more moving parts that can break, but overall, those with higher calibrations demand top-notch prices.
6. What Other Features Does It Have?
Everyone wants a watch that operates like something out of a James Bond film. Even if your timepiece doesn’t contain any secret spy gadgets, the more features it has, the better.
For example, water and shock-resistant items will fetch higher prices than those that lack these features. Other desirable perks include a stopwatch and solar power.
7. Has It Been Altered?
While you can convert a pocket watch to a wristwatch, if you want to get the most out of your investment, hold off on this step. Items that you have altered in some way generally demand lower resale prices than originals.
Collectors are picky folks — think about the way vintage toys in the manufacturer’s packaging can rake in hundreds or more.
8. What Condition Is It in?
Some investors enjoy the challenge of restoring an old timepiece. However, in general, items in new or like-new condition will bring you more massive returns than those in fair or good shape.
If you are determined to sell, you want to maximize your profit. Learn how to restore a vintage watch so that you know your piece is worth more when you head to the dealer.
9. Is There a Niche Market?
Did you know there is a $50 billion market that currently only has about 10% online saturation? When it comes to watches, it pays to make Google your best friend.
Plus, with social distancing restrictions in place, going online offers you an opportunity to connect with potential buyers whom you may never meet in person.
Answer the “How Much Is My Watch Worth” Question With These Tips
If you’re wondering, “how much is my watch worth,” you can get an estimate by using these tips to evaluate. Then, you can decide whether to sell or hold on to your family heirloom.
Dylan Bartlett is a men’s lifestyle blogger from the City of Brotherly Love. He runs the site Just a Regular Guide, looking at other topics related to health and wellness, relationships, the outdoors and DIY. You can follow him on Twitter @a_regular_guide to get frequent updates on his work.
