Image credit: Wikipedia
At Liquid Fin, we are the best jewellery buyers because we know the true market value of the items we purchase. We offer our clients excellent and fair prices on their jewellery and provide a safe environment in which they can sell their precious items.
One piece of jewellery that only the best jewellery buyers know how to value is a watch.
There are several makes of watches and simply because one has a name on it that is well-known and recognised, doesn’t mean that its resale value is good.
When the best jewellery buyers appraise watches, there are a number of factors that we take into account, the first of which is – what affects depreciation of a watch?
Particularly when looking at luxury watches, we view depreciation in much the same way as we would a car – the moment you buy it and drive it, it loses value.
First off, we consider the condition of the watch. If a watch has several visible scratches and other defects, this will certainly affect its value.
Secondly, we look at the availability of replacement parts. Antique watches may be difficult to repair due to a lack of available parts and this will inevitably affect their value.
Thirdly, we look at the complexity of the timepiece. Believe it or not, there is a good reason why some watches are worth hundreds of thousands of rands – it’s because expert watchmakers may take more than half a year to perfect a single watch movement. This is an incredibly meticulous line of work for adept watchmakers and the more skilled and complex the timepiece is, the more it is worth.
Fourth, as with any item in the economic supply and demand system, a watch’s rarity will increase its value. In a few instances throughout history, the value of a watch has indeed appreciated due to its rarity. However, the depreciation of a luxury watch can vary depending on the factors mentioned above; anywhere from 20% – 70%.
If you are looking to sell a watch, contact Liquid Fin, the best jewellery buyers, to get an accurate appraisal of the worth of your timepiece.