How to sell rolex watch
How to SELL A ROLEX in 2022 - Pro Tips
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welcome back watch people now today we
are going to revisit an age old problem
for you guys out there in the watch
community and that is
what's the best way to sell your watch
when the time comes and you've decided
to part
with your watch for whatever reason that
may be what is the best way
to do it what's the best way to sell it
and perhaps more importantly what's the
safest way to sell
let's say a rolex watch in 2022 now over
the years
i've done a lot of uh videos advising
people on the best way to buy and sell
but
over the next few weeks i'm gonna
revisit some of these uh old issues
because let's face it times have changed
and as i said
in a recent video the goal posts have
moved in so many directions
since i made probably what was my best
ever video right here in my own kitchen
when i told you guys how to properly
appraise the condition of a rolex watch
i'll pop a picture up a thumbnail up of
that particular video and put a link
to that video in the description below
that video was shot
on an old iphone in the kitchen
right here when i very first died and
that video was probably for me
the most solid the most sound advice
i've ever given anyone on youtube and
i'm proud of that video and a lot of
people have written into me over the
years saying how well it served them so
today we're going to tackle as i say
that problem about what is the best way
and the safest way to sell your rolex in
2022 well right now look there are
basically what four or five ways
in which you can sell your watch you can
sell it privately
um you can sell it privately to someone
you know which is probably one of the
best if not the very best ways
of selling your rolex watch or any watch
for that matter because if you're
selling it to someone that you know and
you trust
there's no real risks attached not
unless that friend doesn't turn out to
be a friend after all but
that's unlikely so probably selling your
watch privately to someone that you know
is the safest way and you'll probably
get the best price for your watch
um in that way as well because look you
know you can come to an agreed price
with your friend someone that you know
and everyone's happy everyone's a winner
you're gonna get somewhere close to
retail he's gonna get maybe a little bit
less uh he's gonna buy that watch for a
little bit less than he would be able to
say perhaps from a dealer you've got
confidence in the buyer and he's got
confidence in the seller the only issue
with that is
and i will be honest with you is that
money and friendship doesn't always work
out and respect that if you sell your
rolex watch to one of your friends and
it goes wrong
12 months down the line and let's say it
needed an expensive repair or a thousand
pound or more
you might find that that's the time that
your friendship gets tested because you
know did you give him a warranty was it
sold the scene are you gonna feel guilty
is your friend gonna come back looking
you know for all of 50 of the repair
bill so you might want to bear in mind
that selling a watch to a friend
can sometimes test that friendship in
ways that you didn't perhaps
previously plan on testing it um you can
sell the watch privately to someone that
you don't know
again
from a price viewpoint that's probably
one of the ways where you're going to
get
the best possible price for your watch
and we'll come to the problem of private
sellers
wanting retail money a little bit later
on in the video oh by the way guys today
i'm wearing my great white amiga
ploproff
a watch that i am really really enjoying
i just thought i'd drop that in quickly
while i remembered um so selling your
watch privately it's good it's fine as
long as you're experienced
in selling and the pitfalls in selling
watches particularly
online now most people that sell their
watches privately will do so online it
will be through somewhere like ebay
gumtree god forbid um there are all
different manners uh and different
formats and different platforms chrono
24 for an example but look
whilst all of these platforms are
mostly trustworthy um you can't be sure
who's behind that purchase and
believe me when i tell you and this is
not a video about scams so i'm not going
to go into that that's for a whole
separate video
um but take my word for it guys trust me
when i tell you and there's nothing in
this for me this bit of advice is free
and you can thank me later for it that
i reckon or i estimate that for every 10
buyers that approach you on places such
as facebook gumtree
um and
ebay probably 50 of them will be
scammers um and they're very good at
scamming that's what they do for a
living that's their job
and they have many many many ways and
formats into which they will trick you
into partying with your watch and you
end up with absolutely nothing it never
ceases to amaze me and to shock me and
surprise me
um how many people
get offered for an example ten thousand
pound by a dealer for a watch
ten thousand five hundred pound for the
same watch from a stranger they never
met on gumtree
and they end up losing the whole watch
for the sake of 500 quid it just doesn't
make any sense to me whatsoever so if
you're going to sell through
an online platform you need to be aware
of all the scams and there are lots and
lots of confidence tricks scams out
there
too many for me to go through in this
particular video i'll do those and
update on the latest games um sometime
in the near future but for me
selling your watch privately unless it's
to someone that you know
in 2022 is so dangerous i just don't
think it's worth it whatever you do
whatever you do never ever ever
invite someone to your home to view a
watch or to purchase it or to pay for it
you do not want strange people looking
to buy rolex watches or allegedly
looking to buy rolex what is coming to
your home
and the sad fact of the matter is it's
usually the nice
caring trusting honest people that end
up getting scammed because by nature
they're trusting people they think that
everyone else is the same when it's
actually precisely the opposite guys i
would definitely not in 2022 advise you
to be selling your rolex or any watch
online to people that you don't know
look the fact of the matter is the vast
majority of these private sales are
genuine and they probably go through
fine without any issues that's the vast
majority but what about
the 10 or 15 percent that don't
do you want to take that risk and for me
the answer should be no
um there's another way in which you can
sell your watch which is a little bit
more out of the box a little bit more
unusual you can sell it by auction or
via an auction there are plenty of
trustworthy big and small
auction houses up and down the country
and right around the world but
if you sell your watch uh via an auction
yes you can put a reserve on it but you
really are gonna suffer uh to some
degree unless that watch is something
really special unless it's something
that you know really needs to go to an
auction to tempt a lot of people when
they're paying more and more money for
it and that's going to be
a really rare occurrence um at the end
of the day your
auctions don't always achieve the best
prices and then of course you've got the
sellers fees which can be huge
if you're gonna go down the auction
route check with the auction house to
see
how much you're gonna have to pay at the
end of that sale frankly
for me it's not the best option
um then we get on to for what in my
opinion is the very best and the very
safest option and that is selling
to a dealer um a dealer that you can
trust a dealer that you know um as you
guys know that watch my channel i have
quite a number of
trusted dealers they're all links in the
video description below this video is
not being made for them on for their
behalf what i'm telling you now is just
factual advice so this advice goes to
to everyone and it includes a lot of
other dealers not just my trusted
dealers but the bottom line is if you're
gonna sell to a dealer there are ups and
downs there are fours and again so i'm
gonna go through those
all with you right now
so selling to a dealer is probably uh
for me at least unquestionably the most
sensible the safest and always the
quickest way to do it as long as the
dealer that you choose
is a good one so let's get on to that
for a start always do your due diligence
just because you found someone online
calling themselves a watch dealer
doesn't mean to say that they're
trustworthy it doesn't even mean to say
they're trustworthy
if they've got a physical shop and at
the same time it doesn't mean to say
they're not trustworthy because they're
working from an office it there's a lot
of ways in which watch dealers work in
this day and age um you need to do your
due diligence check their reputation on
google on facebook on social media
linkedin are they vat registered are
they companies house registered how long
have they been in business what do their
reviews look like do you know anyone
that's dealt with them before
all those things should be checked out
before you approach them not after
you've dealt with them and then get a
problem the horse is bolted then so
always do your due diligence
with a dealer before even picking the
phone up to speak to him that would be
my advice and as i said i've got a list
of trusted dealers down below and i
personally guarantee these people are
absolutely 101 million
golden to deal with
now
selling to a dealer um let's get it
right watch people and this is the part
that some of you might not like or
appreciate um there seems to be quite a
a large section of watch sellers that
just can't get their head around the
fact
that watch dealers have to make a profit
when they buy and sell a watch um i've
lost count of the amount of times that
i've experienced this myself a million
times when i was a watch dealer but it's
an everyday story and occurrence with my
dealer friends they say paul
someone run me up today they've got a
watch for sale um they say how much do
you want for it they say 20 000 pounds
you have a look around and the retail
price for that watch is 20 000 pounds so
the customer is basically looking
to achieve a retail price
from a trade dealer well that's utterly
crazy i mean if you
stop thinking about what is and start
thinking about for instance carl's you
wouldn't expect to get the full retail
price for your car if you took it into
part exchange or
to sell to a car dealer you know full
well that you're going to lose money or
the price that he's going to give you is
not the best price that car could
potentially be sold for but you
understand that
when it's a car you understand that you
may have to service it he might have to
do work to it he may have to validate it
and then he's got to sell it and make a
profit and pay his staff his rent rates
vat v80
whatever else a dealer has to pay when
they're legally
in business all of course in the 40 tax
bracket
with the 20 v80 on the profit margin
scheme as it stands in the uk at least
so what part of that do what sellers not
understand when they try and sell their
watches to a watch dealer look i'm not
saying that you should allow your
potential watch dealer buyer to rip you
off not at all um absolutely not
but you do have to understand that he
needs a margin in that watch and you
have to understand that running a
business today particularly in the watch
business is extremely high
overheads for me when i was dealing were
much lower
um today right now as the way things are
people are having to lay out many many
thousands of pounds to make
500 quid a grand 1500 quid two grand or
whatever
um and you gotta imagine put yourself in
their position would you wanna lay out
say fifty sixty thousand pounds
to make
five grand but that's not five grand
profit that's five grand before you're
40 tax you're 20 vat on your profit
margin and all your rent your rates and
everything else your staff
look you get wrong coming from 5 000
pound works down to about 1500 quid
by the time the authorities have had
their pound of flesh
and you've paid your bills so
you've got to put yourself in the
dealer's shoes and understand
what you're doing and who you're dealing
with and by the way if that watch goes
wrong after you've sold it to him well
that's his problem and it's no longer
yours you haven't gonna have one of your
friends knocking on your door screaming
and shouting at that watch you sold him
six months ago has now stopped and he
wants a grand to put it right you sell
it to a dealer you've wiped your mouth
the watch is gone and your uh problems
end if there's any problems your
problems end there with it that's worth
something i think you've all go agree
um
so if you want to go shame with a dealer
i always think a good way is to say to
him look but just be honest with me what
can you sell this watch for you tell me
what you think you can sell it for it's
none of my business but
tell me what you think you can sensibly
achieve for this watch and then we can
work out a fair profit margin
for you and i understand that you've got
to make
something on this watch and that you
believe me will go down so well
with most professional watch dealers
they'll really appreciate the fact that
you understand that they have to make
money from the cell and they don't get
up at 8 o'clock in the morning and risk
their lives every day for the fun of it
so you can choose whether you decide to
sell to a dealer in the full knowledge
that you're not going to get every last
penny you're not going to squeeze every
last cent
out of that cell and there's another way
that you
consult or watch dealer in a way that
some dealers
will work some dealers don't work i
didn't used to do a lot of commission
sales i pretty much used to own
everything i sold that was the way that
i preferred it but there
were occasions and there still are
occasions and probably today even more
occasions than there used to be
where commission sales with the right
trusted proven solid
you've done your due diligence
background checks there are a lot of
reasons now why a commission sale can
work out favorable for both the buyer
and the seller
and i'll explain to you why okay so
let's say that you've got a somewhat
unusual watch or a watch that's not
going to be easy to sell or a quick
seller or a watch that you actually rate
quite highly and a d that doesn't rate
quite as much or even
it could even be a modern stainless
steel sports watch for itself it could
be a hulk
now you could think well
who's going to refuse that who's not
going to want to buy a whole but what
happens if you're talking to a dealer
that already has five in stock does he
really
want another one does he really want to
lay out for a watch that he's already
got five of and they haven't sold just
yet so
commission sales can work
um
and the best way in which they work is
for you
you're probably going to get a little
bit more on a commission so the dealer
is prepared to make a little bit less
because he hasn't got a layout for that
watch
in the first place you're basically
giving it to him to sell
for you so he doesn't need as much
profit for him it hasn't lowered his
bank balance it hasn't lowered his cash
flow or damaged his cash flow because
what you've got to remember if you ask a
dealer to take a watch that he considers
he's going to take three six months or
even longer to sell
that's actually costing him money if he
buys it and i tell you why it's because
he could use that money to buy watches
that are going to be quick sellers
instead of tying it up in a watch that's
going to sit in his window or in his
safe for weeks on end
so if the dealer says to you look not
really it's not a watch for me or thank
you but i've already got some
but you like that dealer you could
suggest that maybe he takes it on a
commission's sale of course you must get
everything in writing and agreed that's
a golden rule get everything agreed in
writing up front
but don't give the watch to the dealer
on friday afternoon and then ring him up
monday saying have you sold the watch
yet the reason he wanted to take that
watch on a commission is because he
didn't really want it
in the first place it's gonna take him
time
to sell it that's the downside that's
the back side of you perhaps getting a
little bit more for your watch than you
would have done if you were selling it
just a straightforward quick sale
and i think a big mistake that a lot of
watch sellers make in this day and age
is that they get straight on chrono 24
looking
for the up-to-date prices and
let me tell you time and time and time
again the same thing happens
um let's just take an ordinary 10610
submariner for an example people
somebody might have one for sale they
look on chrono 24 they'll go straight to
the highest price first
and that's how much they want for it
they don't even read the description
they don't know what the watch is about
they don't know if it's anything special
about the watch it could be brand new
old stock look before
pricing your watch do a bit of research
try and find
what is that are genuinely the same sort
of condition an age
model variation of your own do a bit of
research and understand
what your watch is worth both from a
retail viewpoint and then work your way
backwards and i'll give you an example
look if there's a watch on chrono 24
for 15 000
um as the dearest and that the the the
most uh the cheapest is ten thousand
well
why is there a five thousand pound
discrepancy is one dealer asking far too
much is the other one at the lower end
perhaps damaged you've got to do some
research guys it's no good just picking
up the phone saying i've got this for
sale i want this much money
um yes there's nothing wrong when asking
dealers advice as to how much
they think
the watch is worth but i'll tell you
straight one way to rub watch dealers up
the wrong way is just to pick up the
phone and say i've got this
what will you give me for it um because
that's the phone call that watch dealers
i'll take in every second of every
minute of every day
and quite frankly it drives them there
because
in this day and age they know full well
that even if they give you a price
the vast majority of sellers just go
okay mate thanks very much they put the
phone down ring up the next dealer and
just say i've just been offered x by so
and so can you do any better and it's an
online
telephone auction that dealers really
don't want to get involved in
so i think it's always a good idea to do
a lot of research before you try and
sell your watch and find out
what you believe your what is to be
worth and then
seek the advice of your dealer maybe
explain to him that you've already done
some research and this is where you
think this watch would be from a retail
viewpoint and see what he says if he's a
good dealer i'm sure he'll be happy to
talk to you about it now another thing
about selling watches when is the best
time to do it well i tell you now guys
the best time to sell anything is when
you haven't got to sell it right you
know what it's like
you suddenly need to sell your car you
suddenly need to sell your watch
nobody wants it
it's always the last color that someone
wants or the last style that anyone's
looking for you know what it's like
sod's law tells us that when you need to
sell something no one wants to buy it so
for me
the best way to sell a watch is
advertise it
when you don't need to sell it keep it
you know if you what if you've got a
watch that you know the retail value of
it if you've got say a hulk or a panda
daytona you know roughly what those
watches
are retailing for and you can even pitch
it right at the high end if you want
on say chrono 24 it doesn't matter
nobody's probably gonna buy it
but if someone does buy it then you've
had a result because you've been asking
top money for it so the best time
to sell a watch in my humble opinion is
when you haven't got to sell it having
said that my advice to you remains the
same as always when it comes to selling
rolex watches in particular patek ap
don't sell your assets unless you have
to i've lost count at the amount of
times that people have come to me
when i was dealing to buy a watch and
they say i sold this five years ago i
regret it the price has gone up x amount
of pounds or dollars
guys don't sell your watches on a whim
always think very carefully
before parting with any of your watch
assets because i guarantee
that seller's remorse will probably kick
in
somewhere down the line
look guys it doesn't matter how you sell
you watch the number one thing
is safety um i
do what i do because i hate the thought
and the sight of people getting ripped
off having their money stolen having
their watches still when it does my
heading i've made hundreds of videos
literally hundreds of videos on how to
avoid becoming a victim of all different
sorts of watch crime and watch scams
and even if this video saves just one
person
from becoming a victim my time and
effort will be worthwhile i really hope
that you guys share this video
with all your friends in your facebook
groups your forum groups etc because
that's not for my benefit it's for the
watch community's benefit
i'm sure i want people to watch my
videos i want people to like them i want
you to subscribe to my channel but
ultimately these videos are made with
your best interest in heart that i
promise you um i'll finish up by saying
this as i've already said
it doesn't really matter how you sell
your watch the number one thing is that
you get paid for it and my advice
overall generally in 2022 and some of
you might raise your eyebrows at this
because all my friends are dealers
but there can be no doubt there can be
no question that the safest the most
professional and the most prudent way to
sell a fine watch in 2022 all things
being equal with all the crimes that
take place all the scams and the fraud
is to sell to a carefully vetted
carefully chosen and selected
professional watch dealer that's the
bottom line that's the truth guys as
always
thank you so much for watching i really
appreciate it
we'll speak again soon
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