If you want to sell a luxury Swiss watch then an auction can be a good way to do it, especially as the Covid restrictions make visiting watch dealers shops a non-starter. But what about the fees? Some auctions can take a hefty 15-30% from the sale price, in commission, buyers premiums, catalogue photos, secure packaging and consignment charges etc. so your Rolex Sub only realised say £7500, instead of the £10000 you thought it sold for on the day. Well, have a look at Watch Collecting, who aim to do a better job for sellers.
Welcome to Watch Collecting. A new 24/7 online auction platform devoted to collectible watches. We are preparing to shake up the auction industry with our first auctions in March 2021. Following the success of Collecting Cars, the team have been hard at work optimising the experience for watches.
Our fees are straight forward. Sellers receive 100% of the winning bid whilst buyers are charged a 6% fee on their winning bid (£600 minimum). Below are some examples of watches already consigned to our first auctions, will yours be next?
Verdict: If you own a seriously expensive watch then this is worth considering, as the savings are huge if you have a Daytona, Patek Nautilus or AP Royal Oak in your safe.