You can sell your second hand watches at an auction. However, you should know the ins and outs of this process before you start bidding. For instance, you should know what is the refund policy, and how you will get your money back. Some auctions allow buyers to inspect the watch before they make their bids.
When bidding on a watch, you should be aware of the buyer’s premium. This is a percentage of the hammer price, and can be as much as 25%. You must also consider the VAT, which can add up to 30%. This can mean that you end up paying a lot more than you bid.
A high-end watch auction can be a good way to find a special watch. Many luxury watch companies will list their watches on auction sites, including Loupe This. This is an online site that allows buyers to view the watch and make competitive bids. The highest bidder must exceed the reserve price to win. The highest bidder then pays the seller, who can decline the sale if he or she wants. Worthy will then ship the watch to its buyer.
Purchasing a second-hand watch from a reputable vendor is the best way to avoid scams and purchase a watch that is below market value. Buying a second-hand watch online from an unregulated market can put you at risk of receiving a stolen or defective watch.