4 reasons why you should be buying and selling watches online

The last two years have seen a dramatic shift in the trading of luxury watches, from traditional auction houses to online spaces.

Watch Collecting have a new digital auction platform that is fast-paced, low-cost, and committed to helping customers every step of the way. Adrian Hailwood, Head of Watches at Watch Collecting, talks us through the advantages of trading watches online.

1. Competitive prices

Whether you are buying or selling, you’ll want to ensure that you are not paying too much just for the process. By using a digital auction service like Watch Collecting, you will be able to avoid the excess fees commonly charged by traditional auction houses and online marketplaces.

“We charge no fees to list or sell, so you receive all of the proceeds from the final bid," says Adrian. "Buyers only pay six per cent, including VAT, on top of their bid for watches over £10,000 and a fixed fee of £600 for watches below this. This compares to around 30 per cent charged by a traditional auctioneer.”

Buyers and sellers can list and bid for watches from anywhere in the world, and Watch Collecting is on hand to assist throughout the process. (Image: Watch Collecting)

2. A speedy auction service

A traditional auction may take months to complete, and payment post-sale can take weeks on top of that, assuming you were successful. At Watch Collecting, your watch can be listed online within a day or two of the initial enquiry. Once listed, the auction will be completed within seven days.

“We never list two identical watches at any one time, so a buyer's attention is completely focused on the watch in front of them," explains Adrian. "This gives the seller’s watch the best chance of being successfully sold on the first go, and for the best price.”

3. High security standards

Even if you are deciding to sell, your watch is no doubt still important to you, and keeping it safe is a top priority. At a traditional auction, your precious item may leave your possession for months and perhaps even leave the country. At Watch Collecting, your watch remains with you until sale. Alternatively, we offer a managed service which handles every aspect of the process for you, including secure storage during the auction and shipping to the buyer.

“Knowing who our buyers and sellers are is a key part of keeping the platform safe,” Adrian explains. “We have a detailed onboarding process for sellers and use the latest technology to verify buyers. We offer an escrow service via our partnership with Trustshare for an extra level of security."

A quick turnaround and record auction results offer an unbeatable combination for sellers. (Image: Watch Collecting)

4. A helpful, friendly environment

Once your enquiry is received, your first point of contact will be an online auction expert. They will assess your watch and advise on a realistic reserve price and then, should you need it, put you in touch with a professional watch photographer. You will receive regular updates during the seven-day sale period, to keep you involved and informed every step of the way.

“There is a remarkable community feel to the platform, with return buyers and sellers keen to repeat the experience,” says Adrian. “We are conscious that this is a new experience for many people, so our team is on hand to advise on anything from registration to international shipping and insurance.”

To learn more about Watch Collecting’s platform, whether as a buyer or a seller, visit www.watchcollecting.com.