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Best new watch to then sell 2nd hand


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Bit of an odd one.

I am having to replace my lost watch via either Ernest Jones or Fraser hart up to £2870 in value with vouchers from my insurers. I don’t want a new watch and will look to sell it immediately as new on eBay.

my question is which might achieve the most money being ‘second hand’ ; I am considering an Omega de Villa co axial, a Tag aquaracer calibre 5 or Brietling Superocean Endurance but really don’t mind what it is.

 

any comments would be welcome 

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This is a very odd thing. You lost your watch and are getting paid to replace it by insurance but you don't want to replace it? I'm super confused here. I've never had insurance that would pay for a lost watch, so that's pretty cool right there. Do you not want a replacement watch? Or do you not want one only worth that money? Can't you add some of your own money to that to get what you really want? Or do you just desperately need the money instead of a watch? Almost sounds like some kind of insurance fraud scam kind of thing. Like you didn't really "lose" your watch, you just claimed it hoping to get the money but now you're stuck with a voucher.

As far as answering the question directly, I don't know if any watch or watches you can buy and then immediately flip without losing a large portion of the original cost, because why would anyone buy something second hand from some random person when they can go to an AD themselves and get it guaranteed legit and new? I'll answer that for you, they wouldn't.

Maybe Tudor would be likely to fetch something close? Breitling. But the popularity of a watch must be considered and it doesn't seem like you have a beat on that button at all. We here don't buy watches to flip them because it's a passion for us. That doesn't mean we haven't done it a time or two because of a drunken online purchases or change in collection needs, etc, but it's a rare occasion. I guess I'll wish you good luck in this very weird endeavor.

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33 minutes ago, JayDeep said:

This is a very odd thing. You lost your watch and are getting paid to replace it by insurance but you don't want to replace it? I'm super confused here. I've never had insurance that would pay for a lost watch, so that's pretty cool right there. Do you not want a replacement watch? Or do you not want one only worth that money? Can't you add some of your own money to that to get what you really want? Or do you just desperately need the money instead of a watch? Almost sounds like some kind of insurance fraud scam kind of thing. Like you didn't really "lose" your watch, you just claimed it hoping to get the money but now you're stuck with a voucher.

As far as answering the question directly, I don't know if any watch or watches you can buy and then immediately flip without losing a large portion of the original cost, because why would anyone buy something second hand from some random person when they can go to an AD themselves and get it guaranteed legit and new? I'll answer that for you, they wouldn't.

Maybe Tudor would be likely to fetch something close? Breitling. But the popularity of a watch must be considered and it doesn't seem like you have a beat on that button at all. We here don't buy watches to flip them because it's a passion for us. That doesn't mean we haven't done it a time or two because of a drunken online purchases or change in collection needs, etc, but it's a rare occasion. I guess I'll wish you good luck in this very weird endeavor.

Thanks for the email, I lost a 1976 (ish) Geneve Omega and they are insisting I replace it with something new. I would prefer something old and therefore am just looking to turn the vouchers into cash so I have greater choice. I have other newish watches and just want a more balanced collection.

 

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7 minutes ago, mrzee said:

I see what you did there :laughing2dw:

I like the Omega man ....... [ see what I did there ] :laugh:

7 minutes ago, Johnny22 said:

Thanks for the email, I lost a 1976 (ish) Geneve Omega and they are insisting I replace it with something new. I would prefer something old and therefore am just looking to turn the vouchers into cash so I have greater choice. I have other newish watches and just want a more balanced collection.

 

Buying the TAG will be just like setting fire to a grand so don't do that .... The Breitling will sell at 70% on the Bay because savvy buyers can buy new at 25% off anyway but it will attract more type kickers ..... The Omega is your best bet ..... just don't put up with any nonsense , only sell to UK buyers , with a reputation 

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9 minutes ago, Johnny22 said:

Thanks for the email, I lost a 1976 (ish) Geneve Omega and they are insisting I replace it with something new. I would prefer something old and therefore am just looking to turn the vouchers into cash so I have greater choice. I have other newish watches and just want a more balanced collection.

 

Hmmmm well that sounds reasonable, but I still have no answer for you other than buy something popular. Like an Omega Moon watch or something alike.

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4 minutes ago, JonnyOldBoy said:

I like the Omega man ....... [ see what I did there ] :laugh:

I did. (Joke thief!)

12 minutes ago, Johnny22 said:

Thanks for the email, I lost a 1976 (ish) Geneve Omega and they are insisting I replace it with something new. I would prefer something old and therefore am just looking to turn the vouchers into cash so I have greater choice. I have other newish watches and just want a more balanced collection.

 

You do realise that the insurance companies come to these types of websites to obtain 'actual' monetary evaluations of watches from 'actual' watch enthusiasts.. what.. do you think they rely on ebay for that stuff.. there is a chance they will now cross check all watch claims against recent records.. 

I hope you know what you are getting into.

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4 minutes ago, SolaVeritate said:

 

I hope you know what you are getting into.

He is not getting into anything.

Before his old watch was lost, he was perfectly entitled to sell it at any time.

With a replacement , he is also perfectly entitled to sell it at any time.

What he buys and sells is his business and is of no concern to the insurance company.

The only concern they have with claims is whether or not they are genuine claims. It's a criminal offence to fraudulently claim on an insurance policy. But the fraud only extends to wether or not the loss actually took place. Thats it.

I have a very good friend in the business who is a claims adjuster and they do know every trick in the book.

The OP is doing nothing wrong by submitting a genuine claim and then disposing of the proceeds of that claim.

 

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12 minutes ago, JonnyOldBoy said:

He is not getting into anything.

Before his old watch was lost, he was perfectly entitled to sell it at any time.

With a replacement , he is also perfectly entitled to sell it at any time.

What he buys and sells is his business and is of no concern to the insurance company.

The only concern they have with claims is whether or not they are genuine claims. It's a criminal offence to fraudulently claim on an insurance policy. But the fraud only extends to wether or not the loss actually took place. Thats it.

I have a very good friend in the business who is a claims adjuster and they do know every trick in the book.

The OP is doing nothing wrong by submitting a genuine claim and then disposing of the proceeds of that claim.

 

Cool. :thumbsup:

Edited by SolaVeritate
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If you are selling anything at that sort of value on EBay, you are only going to get interest at a decent price if you have been on there for some time and have a decent feedback score and history built up.

Assuming you have then it is really going to be a case of looking at what watches you could get for that money from the retailer and then researching what prices new/unworn are selling for and picking the one with the shortest fall.

Falling that, it might be worth considering whether there are any other potential avenues to sell the new watch. A watch shop I used to know in Peterborough used to sell quality watches of their own, but also on behalf of customers (so the watch was there in the window for people to see and touch/try, plus had the added security of buying it from a bricks and mortar establishment that traded in watches and so added confidence that it was genuine).

I think they took 5-10% as a sellers fee, but EBay/Paypal are likely to take that much and I would presume you would get a better price selling from the shop than you or I would get on Ebay.

Any local jewellers or watch specialists near you that might do something similar might be worth a call?

 

Edited by Bricey
typo's because i'm simple
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Sometimes, insurance companies use an algorithm for their new-for-old adjustments. It replaces what a "similar" sort of watch would cost now and they have a sliding scale of core models matching current range to historic. Companies that use these algorithms pleasantly surprise their claimants as often as they disappoint them. There a couple of companies who just "phone a couple of watch shops" ... which I find amazing to be honest ...

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Given the drop in the selling price vs purchase price and also any eBay selling fees (seem to have increased since their new payment system started) would a better option be to trade in the new watch to a retailer who also sells preowned?

Maybe you already have a non dealer purchase in mind or want to avoid buying used at dealer prices.

To answer the original question the Omega would be my choice.

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You might be able to "sell" the voucher. Not literally, it'll be in your name only, but if you can find someone in the market to spend a couple of grand then it's probably your best bet - sell them your 2800 of store credit for £2000, say.

It happens loads, insurers often insist on using their own shops (who give them a hefty discount). If you'd insisted on using a local family jewellers they'd have sliced 30% off your payout. 

That's your best return,  I have to say. Otherwise Tudor or Omega will retain the most money for a short term flip but you'll still be losing 35% or so - unless you're fortunate enough to be able to put it towards an Omega limited edition, unlikely you'll get one of those though. 

Edited by kevkojak
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Sell your vouchers at a discount. 

I once was given holiday vouchers as a bonus by my boss, who said I had worked hard and it was his way of making me take a break. I was building a house at the time and wanted cash but he wouldnt swap them. Turns out hed bought vouchers for everyones bonus at discount. Thinking he was being smart and saving himself cash. But p*ssing the work force off who all now had vouchers they didnt want. 

I had £3000 worth and from memory think I got about £2300 for them on ebay. 

Cant you take the vouchers and sell them. 

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Just now, JayDeep said:

What about a purchase and return for full refund. How do they refund? Cash?

Store credit I would think, especially if paid by voucher (it would normally refund to the same card/method paid).

 

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25 minutes ago, Dilly said:

Sell your vouchers at a discount. 

I once was given holiday vouchers as a bonus by my boss, who said I had worked hard and it was his way of making me take a break. I was building a house at the time and wanted cash but he wouldnt swap them. Turns out hed bought vouchers for everyones bonus at discount. Thinking he was being smart and saving himself cash. But p*ssing the work force off who all now had vouchers they didnt want. 

I had £3000 worth and from memory think I got about £2300 for them on ebay

Cant you take the vouchers and sell them. 

That's... essentially what I said an hour earlier. Way to read the thread  :mad0218:

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Just now, kevkojak said:

That's... essentially what I said an hour earlier. Way to read the thread  :mad0218:

Or, failing that he could try and sell the vouchers?

 

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