If you like, own, and wear luxury watches, then this article will be of interest to you. According to pre-owned watch specialist Watchfinder & Co., the US has around $60 billion worth of “forgotten” or disregarded luxury watches. Many owners do not realize that these watches could be worth tens or even hundreds of thousands of dollars unless they get them valued. Some people own these watches as part of a family heirloom, and some stop wearing them once they get a new one. Either way, it’s best to get the values checked as one could be sitting on a potential goldmine. Watchfinder states, “The luxury watch market is going through a purple patch currently, with many watches reaching all-time highs when it comes to their resale value, making now the perfect time to check.”
After surveying 26,000 participants, Watchfinder concluded that forty-three percent of watch owners said they have at least one luxury watch they do not wear, and 42 percent of people said they do not know the current value of their timepieces. Arjen Van de Vall, CEO at Watchfinder & Co., says, “Whilst a large proportion of watch owners around the world keep a very close eye on the value of their watches, it’s clear that there are also lots of people who have no idea what their watch is currently worth. It’s widely recognized that a Rolex, Omega, or Patek Phillipe is likely to be worth quite a bit of money, but there are also watches out there made by smaller, more boutique manufacturers that are lesser-known.”
He continued, “You may have inherited a watch, or perhaps you have a watch you no longer wear; we would encourage you to find out its value so you can make an informed decision on whether to keep it, sell it or exchange it for something new. Any good pre-owned watch specialist will be able to provide you with a quick, easy, and complimentary valuation, so you are better informed.” It’s time to check out the watch grandma gifted you years ago. It might make you happier than you anticipated.