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Anyone used WatchFinder to Sell a Watch? Is this a decent offer?


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Hi everyone. I have a Speedmaster 3575.20 that I've offered to watchFinder for sale.

They've offered £2250 - £2500 Is that a fair price? I understand they need to make a profit and they'll service it and offer a warranty to their buyer a but I really have no idea whether I should accept their offer or try to squeeze a little more?

The warranty card for the watch is April 2004 and I bought it, pre-owned in October 2004. I only wore it a couple of times so pretty much as good as new. Box papers, instruction booklets etc.

It's a really pretty watch as you can see in the picture. Date and Moonphase isn't that common on speedmasters is it?

 

3575_20.jpg

 

Thanks for any feedback

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To save all the messing around, i will give you £50 right now. Paid in the Queen's finest pound notes... Shall i send you my address? 

Update, they will now supply a link free of charge (additional ones will be charged). So it looks to be resolved 

Well, Mister "F" was offering - i quote - "The Queen's Finest Pound Notes" so he must be pretty well connected to have access to her majesty's personal stash of legal-tender £1 'notes' while the rest

In my experience Watchfinder tend to offer the sort of money you might get nett on online or other auctions.   Plus they will have to add on 20% VAT not including the costs of servicing etc.

Probably worth haggling and they do offer more if you part exchange. 

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5 minutes ago, ong said:

 Plus they will have to add on 20% VAT 

 

The offer doesn't sound unreasonable.  Retail is probably £3500, but servicing will not be cheap, and neither is advertising, stores, delivery etc.

They will add VAT too, but on used items the VAT only applies to the margin, not the cost of goods.  So the VAT would be on the mark up only - still a big consideration for them and more money for the government to waste.

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As the other have said the price you have been offered is decent for sell-to-trade. You could sell it on the Bay and certainly sell for more ( even given the £50 final sale fee ) , but you have to know how to navigate potential problems on there ( and other similar platforms ) so if you play safe and go with WF then you are getting both a decent price and more peace of mind.

It may also be worth courting a few of the retailers-from-NOS-wholesalers on the Bay of secondary market watches, some of those sellers buy outright, some for very decent prices .... I have sold watches to one guy on there whose seller ID is prestige-watches , he is a decent guy whom I have bought from and sold to over the years...maybe send him a message .... 

Let us know if you do and he offers you a better price..... , if he does not then I would suggest WF already have a buyer lined up for your watch....possibly...

:thumbsup:

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On 27/01/2019 at 19:03, watchnut100 said:

I don't like the way they hold the money in a third party account until buyers happy? i'd stick to ebay.

They hold the money?

I assumed I'd be selling direct to WatchFinder and it's up to them to sell it themselves. Didn't think they were just acting as an agent and that I'd need to wait until they found a buyer

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3 minutes ago, IanE said:

They hold the money?

I assumed I'd be selling direct to WatchFinder and it's up to them to sell it themselves. Didn't think they were just acting as an agent and that I'd need to wait until they found a buyer

I believe they will give you several options when selling..they will sell on consignment where you may have to wait longer to get a better price... or they will buy the piece direct which obviously would obtain a lower price as they don't know how long they will have the piece in question and it may require servicing/polishing to make the piece presentable in their opinion...they usually assign a sales individual who will contact directly or Contact the company direct ...also consider taking it to several other watchdealers to gauge a fair price... Asking prices are not always a true indication of what your piece may be worth. Buying is easy selling is not quite so easy.

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I think you'd be better off selling it yourself either on eBay or perhaps Chrono24.  I know the dealers need to guarantee themselves a profit but one of them offered me just 50% of market value for a valuable IWC recently, which is risible.

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2 hours ago, IanE said:

They hold the money?

I assumed I'd be selling direct to WatchFinder and it's up to them to sell it themselves. Didn't think they were just acting as an agent and that I'd need to wait until they found a buyer

Watchfinder do buy the watch and pay you by Bank Transfer usually a few working days after.     They then either sell it on or service then sell on.   I think the OP meant other sites and dealers who do this. 

 

 

 

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Just to confirm (as one or two have already posted).

 

Watchfinder will pay you by bank transfer a few days....maybe up to  a week later.

 

You will get a better price selling it privately.."sometimes", its possible to get a "decent" deal via part trade with Watchfinder too.

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On 27/01/2019 at 08:24, MrF-UK82 said:

To save all the messing around, i will give you £50 right now. Paid in the Queen's finest pound notes... Shall i send you my address? :whistle:

It's this sort of low ball offer that disgusts me. I wouldn't deal with an obvious watch shotter like Mr F. Ukeightytwo, if that even is his real name??!!

I however am a genuine buyer, and entirely trustworthy in all respects. I'll give you £51 (inc p&p)

 

 

 

 

 

 

:tongue:

Edited by ry ry
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18 hours ago, Speedy112 said:

Why not try selling it on here.... price it just a little above the best offer from the dealer and that will achieve you the best price and the seller will also pay lower than a dealers price...

How would I go about selling it "On here". I didn't see an area on the site for sales.

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39 minutes ago, IanE said:

How would I go about selling it "On here". I didn't see an area on the site for sales.

I believe you have made had 50 posts before being allowed to sell items...its a nice watch you have there I'm very tempted myself to make you an offer but my New Years Resolution of not buying any more impulse buys is so far holding firm....

Edited by Speedy112
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1 hour ago, Speedy112 said:

I believe you have made had 50 posts before being allowed to sell items...its a nice watch you have there I'm very tempted myself to make you an offer but my New Years Resolution of not buying any more impulse buys is so far holding firm....

With a name like 'Speedy112' I guess you're in to speedmasters?

I've got two others. One is an automatic. The one with the date, day of the week and month. The other is a very early 70's moonwatch. The one with with what they call "straight" writing on the back - Where the "first watch on the moon" text is kind of stamped straight across the case back rather than around a deeply engraved seamonster.

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check if they are selling one similar and see what they are asking for it, then you will know what profits they are working on...also check their turnover of stock if the model is easily sold and the profit high. Then No. If they are stuck with it with a silly price on, flog it to them if you are happy to get your hands on the cash quickly. 

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23 hours ago, ry ry said:

It's this sort of low ball offer that disgusts me. I wouldn't deal with an obvious watch shotter like Mr F. Ukeightytwo, if that even is his real name??!!

I however am a genuine buyer, and entirely trustworthy in all respects. I'll give you £51 (inc p&p)

 

 

 

 

 

 

:tongue:

Well, Mister "F" was offering - i quote - "The Queen's Finest Pound Notes" so he must be pretty well connected to have access to her majesty's personal stash of legal-tender £1 'notes' while the rest of us commoners have to run round with cheap pound coins rubbing holes in our keks.

As you said, Mr F.Ukeighttwo may not be m'am's real name!

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I looked at selling a number of watches through watchfinder, a number of which were not run of the mill, their quotes were of similar watches on e bay, i did not like the way i was being rushed into accepting abd signing up,i then did a google search and did not like what i saw so pulled out. I continued recieving offers and e mails for over 9 months.

 Ot for me im afraid.

 

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5 hours ago, IanE said:

With a name like 'Speedy112' I guess you're in to speedmasters?

I've got two others. One is an automatic. The one with the date, day of the week and month. The other is a very early 70's moonwatch. The one with with what they call "straight" writing on the back - Where the "first watch on the moon" text is kind of stamped straight across the case back rather than around a deeply engraved seamonster.

 I have had a few over the years my first was The original Moon watch which was my first what I would call Proper watch..then I guess over the years I got fed up with the many different variations of the Speedy and I moved on to other brands although about 4 years ago whilst in Hong Kong I picked up the  watch below which I believe was only released in the Far East I guess for the smaller wrist and is one of my favourites .

IMG-1900.jpg

Edited by Speedy112
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31 minutes ago, Speedy112 said:

 I have had a few over the years my first was The original Moon watch which was my first what I would call Proper watch..then I guess over the years I got fed up with the many different variations of the Speedy and I moved on to other brands although about 4 years ago whilst in Hong Kong I picked up the  watch below which I believe was only released in the Far East I guess for the smaller wrist and is one of my favourites .

IMG-1900.jpg

So many different variations.

Yes. you're right. It seems Omega just slap a "First watch on the moon" engraving on anything. Even my speedy at the very top of this thread has the first watch on the moon engraving. Which it quite stupid when you consider than "Moon Phases" don't work the same way when you're actually on the moon.

Or maybe Omega hired dell boy to try to sell them to NASA saying that Buzz and his mates could use a moonphase watch to know when to slap on the extra sunscreen factor 50.

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12 minutes ago, IanE said:

So many different variations.

Yes. you're right. It seems Omega just slap a "First watch on the moon" engraving on anything. Even my speedy at the very top of this thread has the first watch on the moon engraving. Which it quite stupid when you consider than "Moon Phases" don't work the same way when you're actually on the moon.

Or maybe Omega hired dell boy to try to sell them to NASA saying that Buzz and his mates could use a moonphase watch to know when to slap on the extra sunscreen factor 50.

And you can bet your life Omega has got a whole host of new models ready to be released for the 50th Anniversary Apollo 11 Landing in 2019..I think they have Bled the Moon efforts to death...

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7 minutes ago, Speedy112 said:

And you can bet your life Omega has got a whole host of new models ready to be released for the 50th Anniversary Apollo 11 Landing in 2019..I think they have Bled the Moon efforts to death...

50th anniversary - You're right. I never thought of that. Maybe I need to hang on to my 'Moonwatch' till  the price gets hiked up by the 50th anniversary moowatch frenzy.

1 hour ago, Speedy112 said:

 I have had a few over the years my first was The original Moon watch which was my first what I would call Proper watch..then I guess over the years I got fed up with the many different variations of the Speedy and I moved on to other brands although about 4 years ago whilst in Hong Kong I picked up the  watch below which I believe was only released in the Far East I guess for the smaller wrist and is one of my favourites .

IMG-1900.jpg

Speedy. How big is that? The "reduced" chronographs (like my triple date auto) are 39mm

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1 hour ago, Chris 810 said:

I looked at selling a number of watches through watchfinder, a number of which were not run of the mill, their quotes were of similar watches on e bay, i did not like the way i was being rushed into accepting abd signing up,i then did a google search and did not like what i saw so pulled out. I continued recieving offers and e mails for over 9 months.

 Ot for me im afraid.

 

@Chris810. What were they doing to "Rush" you? 

When they kept contacting you with offers were their offers basically the same or were they offering more?

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20 hours ago, IanE said:

@Chris810. What were they doing to "Rush" you? 

When they kept contacting you with offers were their offers basically the same or were they offering more?

I was getting “ these prices cannot be held for long, prices are going to drop,sign up now, that kind of thing, i was looking to move over 10 watches so it was probally a big deal for them, i said i would consider if i wanted to go with them over the weekend and then without my permission they sent over documents for me to sign and arranged a pick up on Monday afternoon. I did not like the fact that they would be able to charge me £200.00 plus for “servicing” which in my experience does not happen, i then started reading up on buyers experiences on line, also came across a site with posts from people who had worked for them, which was not complementary at all ( now i know that people dont write with good news but it was the consistancy that worried me ).

I dont react well to high pressure tactics, did not have a warm and fuzzy and pulled out, i since sold the Yachtmaster to another dealer in trade which has put me off selling to the trade, but that is another story.

hope that helps.

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19 minutes ago, Chris 810 said:

I was getting “ these prices cannot be held for long, prices are going to drop,sign up now, that kind of thing, i was looking to move over 10 watches so it was probally a big deal for them, i said i would consider if i wanted to go with them over the weekend and then without my permission they sent over documents for me to sign and arranged a pick up on Monday afternoon. I did not like the fact that they would be able to charge me £200.00 plus for “servicing” which in my experience does not happen, i then started reading up on buyers experiences on line, also came across a site with posts from people who had worked for them, which was not complementary at all ( now i know that people dont write with good news but it was the consistancy that worried me ).

I dont react well to high pressure tactics, did not have a warm and fuzzy and pulled out, i since sold the Yachtmaster to another dealer in trade which has put me off selling to the trade, but that is another story.

hope that helps.

Yes. That helps. Thank you.

Their 'Valuation' is supposedly valid for 7 days. I haven't responded.

Let's see what happens. I'll keep you posted.

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