Trade ins.

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smegwina
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Trade ins.

Post by smegwina »

Greetings forumites... I know that a few of you have traded in watches against new purchases. Sometimes even multiple watches have been traded in.

In the dim and distant past, I have investigated the process, but the trade in price offered has been derisory. Yet there are clearly some out there who are offering reasonable prices.

So, who have you used and how did you find them?



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downer
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Re: Trade ins.

Post by downer »

Rule #1. Never accept the first offer.

I have used Watchfinder. Can't remember the precise numbers, but over the course of a few days, the offer on my ExpII went from miserable to more than I could get in a private sale.

I remember getting quotes for my Nomos - although I sold it privately in the end. WF low-balled and Jura offered something very reasonable.

Recently, I have had some offers on my Bremonts (Alt1-C and Alt1-ZT/51). I got offers from Iconic (low-balled the ZT), Mark Worthington (offer increased by 15% through the process) and finally my local Rolex/Bremont AD who matched the best I'd got elsewhere. In the end the offer on the Alt1-C is close to the price I've advertised it for on here.

Like all negotiations, it's about the cost to change, so it pays to push both ends - asking for discounts and high part-ex values in the same deal.
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nbg
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Re: Trade ins.

Post by nbg »

I haven't, but my start point would be:
- provide Watch Finder with details of the watches; on the basis that you are looking for a straight sale
- depending on the brand of the watches being sold, WF would for most brands likely add 40%* to arrive at their sale price. The profit being the uplift, less VAT on the margin
- you then have an indication of how much is in it for them, to take into account when negotiating with the AD
- try the same with Iconic, but on a cost to change basis

* the more desirable the brand, the better the trade in price and the lower the mark up, because they know they will easily sell them.

My other tuppence worth - maybe you will be stiffed in any trade in situation; they flatter you with high trade in figures, but take it back by giving you a lesser discount on what you are buying than would be the case as a cash buyer!

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Thegreyman
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Re: Trade ins.

Post by Thegreyman »

I guess it's very much like buying a car:

1. Suss out how much you might get for your existing car (watch) by looking at ebay, chrono 24 etc
2. Try and work out how much discount you could get for a straight cash purchase on your intended car (watch) by asking a dealer or two
3. Then find out the trade in price for your car (watch) or as the guys have said, more importantly the "cost to change" and compare that to the figure from 2) minus 1) above. 3) might be a slightly higher number but is less hassle...which is often why people trade in their cars rather than have the grief of "private buyers" aka part time car dealing tyre kickers coming round to their house.
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Re: Trade ins.

Post by rcherryuk »

As above, I did well with Watchfinder recently as I had two watches to PX and I wanted to buy something else they had which they obviously had managed to get a good (for them) deal on!

Luckily one watch I was selling was on their 'hit list' so they increased their offer once they had a buyer.

But, when I tried to do something similar before they weren't interested, so, as with life, timing is everything :-)
Rob

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smegwina
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Re: Trade ins.

Post by smegwina »

Thanks all! Top tips as ever. I was working on the assumption that it was similar to the automobile trade in process and that seems to be borne out in your comments.

They are much appreciated!

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Re: Trade ins.

Post by LordAnubis »

I've not had much luck with watch trade ins personally. When i have looked into it trading in has always lost me money for the upgrade. Maybe it's just an Australian thing, don't imagine there's much resale going on here. I find i can sell at a better price to overseas buyers than to Australian buyers. Probably just a factor of supply and demand kind of thing i guess and yes, timing is everything.
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Re: Trade ins.

Post by Bahnstormer_vRS »

Sorry not to have offered any direct advice Nick, but I've not yet got to the realms of buying a watch that could benefit from a part exchange.

However, I too would have thought it would be like buying / part-ex a car.

A least doing it this way guarantees compliance with a buy one / sell one remit. :thumbup:

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TheBeatles
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Re: Trade ins.

Post by TheBeatles »

I went into Goldsmiths with a Tag and an Omega.

The lady manager looked at my watches and then got in touch with an independent trader she knew.

He gave her an offer based on her photos, I was more than happy not to say a little surprised. I then met him at his work office to conclude the deal.

I didn't expect this from a major retailer. I thought they would buy themselves and sell on.
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Re: Trade ins.

Post by stefs »

When I bought my yachmaster from iconic watches I traded in my blue milguass and my exp ii. On the expii I only lost £100 on when I bought it new from them in 2015 and that was as it needed a bezel polish and in fact on the pair I got over 90% of my money back. I didn't negotiate to get these either. I felt they were fair offers and accepted. For what its worth I would recommend them all day long.
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