December 1, 2017 at 1:07 pm #373
Owing to recent family events and my fathers wishes, we have a vintage Rolex for sale. So far we have had 3 dealers contact us expressing their interest and to be fair, their offers are similar.
However, my issue is the prices I have seen some of these watches up for on the open market both privately and through specialists v’s the offers (not that the offers aren’t good) – I just want to be certain I am getting a fair price for my mother.
Is there anyone on here who is a collector or has some idea of how this type of thing works that can advise me on whether these offers are fair/good?
I don’t want to put too much information on here, because this is not a for sale/fishing expedition, but can provide info via pm if there is someone on here who can help with knowledge on pricing. Many thanksDecember 1, 2017 at 1:07 pm #374
If you take it to a jewellers and ask for a valuation for insurance purposes they will give you the price it’s worth- obviously dealers will offer a bit less than this as they have to make money on it but you will have an ideaDecember 1, 2017 at 1:08 pm #375
my brother is the watch manager in a high end jewellers and could probably offer you a fair unbiased opinion. He is working till 7 tonight but if you want me to ask him what he would need to know I can message you later. Do you need an insurance valuation or a sales price?December 1, 2017 at 1:09 pm #376
I know a friend who is an antique dealer, he deals with Rolex on a fairly regular basis. The price depends on the model, condition etc if it is a sought after model. A specialist auction can be your best bet, as you get collectors, dealers and those who want a decent watch so you get a wider selling base. Of course there are fees that come with that but it could be worth you contacting auction houses for their evaluation.December 1, 2017 at 1:09 pm #377
Following! I have a 20 year old ladies Cellini with it’s original box and wallet but it needs a service. Haven’t worn it for years and it really needs to be loved by someone else!December 1, 2017 at 1:10 pm #378
I had an inherited ring and have two daughters, it was valued for insurance. As we were thinking of selling it we took it to the local large auction house who where very good, they gave us a valuation and a reason in detail for the valuation which enabled us to decide what to do.
I think a Rolex is more of a known quantity, so I would take it to a specialist auction house that does separate sales of watches and jewellery, as if you decide to sell that is the figure you are more likely to get. It shouldn’t cost you anything, valuation for insurance usually costs a fee.
With the ring one daughter said she would like it, so I am giving the other daughter half its auction value, which saved auction fees.December 1, 2017 at 1:10 pm #379
Whilst I have no experience of auction houses which specialise in jewellery or timepieces, I do have experience with the dealings of auction houses and firearms. Almost always, the firearms auctioneers in the UK charge commission rates of 25% + VAT at 20% on the comms which is effectively 30%. It’s always the vendor who accepts the commission charges because the buyer factors those charges in when offering a bid. I would approach all the auction houses with extreme caution or at the very least go through the small print with great care.
I also have a close friend who deals in fine timepieces, and should all else fail, I could put you in touch with him having already laid out the ‘rules’ to him!
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