4 Factors to Consider in a Watch Appraisal All Entries
Although watch appraisals are done in the same setting as a diamond or jewelry appraisal, there are additional factors that can make a watch appraisal very different. Watches can be significant investments, and make wonderful gifts for a loved one. However, you may also find yourself on the wrong side of the deal if you make a hasty decision.
How can you be sure of the value of a watch? Here are four important factors to consider:
Is It Rare?
One of the biggest reasons people sell watches and get a watch appraisal is because watches (if rare) can be resold for a lot of money. For example, only 35 Jaeger LeCoultre watches have ever been made, and so it's considered an extremely rare find. Today, these watches retail for around $200,000.
As with diamonds, the condition of the item does matter in a watch appraisal. When looking at the condition consider this analogy; if you find a vintage car and it can be waxed and washed but the engine is shot, the car won't sell for much. The same goes for a watch. If a watch is dirty, that can be fixed fairly easily. But, if the inner workings won't run, you may have a hard time selling it. If you replace the old parts with new ones, this can usually diminish the value. It's like putting an engine for a Honda in a Ferrari. Along with the name, people are buying the craftsmanship that it stands for.
Generally speaking, a watch that simply tells the time versus a watch that has minute repeaters, power reserve functions, and calendars, is going to be less valuable. Additional features are important, but it's important to rememebr that more doesn't always mean better. Consider craftsmanship, features, and functionality, as these can all be factors that add value to the watch.
What Is the Brand of the Watch?
This should be a no-brainer, but the brand of the watch definitely matters in a watch appraisal. There are really only a handful of elite brands that are really well-known. Whether they are known for handcrafted watches, they simply offer great watches for great value, or they have a reputation that has lasted for generations, make sure you know what brand your watch is. Rolex and Patek tend to stay valuable over the years. On the other hand, blinged-out fashion watches quickly lose their value.
If you need a watch appraisal either via a phone call or by visiting a store with a watch you already own, contact Ralph Mueller & Associates for more information.