If you looking for the best place to auction a Patek Philippe watch, Diamond Estate Jewelry Buyers has a better alternative. We have helped hundreds of watch collectors around the country sell Patek Philippe watches, while eliminating the substantial fees, wait, and uncertainty associated with large auction houses and online watch auctions.
Many people believe that auctioning a Patek Philippe is the best way to obtain a best cash offer for their Patek Philippe timepiece. Beyond traditional auction houses like Chistie’s and Sotheby’s, there are online auction portals like eBay and new online auctions specializing in valuable vintage watches and Swiss timepieces from brands such as Patek Philippe, Breitling, and Vacheron Constantin.
However, if you have never tried to auction a Patek Philippe, you may be unaware of all that needs to be considered when making a smart selling decision. So, let’s cover some of the important issues now and explain why thousands of clients have chosen Diamond Estate Jewelry Buyers as the best place to sell a Patek Philippe and other prestige timepieces.
Auctioning a Patek Philippe at an Auction House
Sellers who wish to auction a Patek Philippe that is valued into the five and six figures often look toward a prestigious auction house like Antiquorum and Bonhams, who have long traditions of selling extraordinary timepieces.
What these sellers often do not realize is that auction houses charge more than just a commission on the final sales price. When auctioning a Patek Philippe, there are also associated fees which can ultimately add up to 40% of the final hammer price.
In other words, after waiting up to six months for the Patek Philippe auction to take place, you may end up receiving only 60% of the final sale price (IF your Patek Philippe sells). And if your Patek Philippe does not sell for the reserve price, you will actually lose money—because you still will be charged photography and processing fees.
That is why so many sellers of valuable Patek Philippe watches choose to sell their timepiece(s) to Diamond Estate Jewelry Buyers. We often can provide you with a generous cash offer that comes close to the final amount you might have received when auctioning your Patek Philippe through a traditional auction house—and there is no wait or hidden fees attached.
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Auctioning a Vintage Patek Philippe at an Online Auction
In the past couple years, some internet auctions have emerged which promise to get you more money for your vintage Patek Philippe. It is always a good idea to approach these online Patek Philippe auctions with caution.
Keep in mind that an online Patek Philippe auction is only as good as its network of buyers–and it takes many years (if not decades) to establish a strong international network of Patek Philippe collectors and watch buyers.
The only online Patek Philippe auctions worth considering are those who have a deep background in collectable timepieces that can be easily verified. Their Patek Philippe “experts” should provide first and last names, so their credentials and experience can be assessed. And the business should be registered with the Better Business Bureau with an A rating.
Also be aware of the potential for inflated initial Patek Philippe appraisals when dealing with online auctions that sell Patek Philippe watches. An inflated Patek Philippe appraisal is how an unscrupulous online watch auction can convince you to sell your Patek Philippe with them. The final sales price could be well below that initial Patek Philippe appraisal, and you could be on the hook for selling your Patek Philippe at that much lower price.
Check whether the auction website is publishing prices from past Patek Philippe auctions. While the auction prices you see may be higher than what your local pawn shop or jewelry store offered, it could be thousands of dollars less than what a professional Patek Philippe buyer like DEJB would pay you for your rare Patek Philippe timepiece.
Why is the amount so much less? Because the vast majority of Patek Philippe buyers at online auctions are wholesale Patek Philippe dealers who will pay you the wholesale dealer price for your Patek Philippe, minus the commission and fees taken by the auction. When all is said and done, you are basically adding one more middle man (i.e. the auction) between you and the wholesale Patek Philippe buyer, which ends in you getting substantially less money for your timepiece than if you had gone directly to a high-paying honest watch buyer like Diamond Estate Jewelry Buyers.
How do we know all this? Because we often work with clients who have tried for months to sell their Patek Philippe watches via an online watch auction–and who are shocked at how much higher our offer is compared to what they had received and almost accepted.
When you sell your Patek Philippe to Diamond Estate Jewelry Buyers, we eliminate the auction middle man and all of the uncertainty that comes with trying to auction a used Patek Philippe watch. Our owner Carl Blackburn is one of the most trusted buyers of Patek Philippe watches in the country. He and his team bring 50+ years of combined expertise to the table when purchasing your valuable Patek Philippe watch. We tell you exactly how much your Patek Philippe is worth (explaining in detail how we have arrived at that price). And we pay you immediately in cash.
Should I Auction My Patek Philippe on eBay?
When it comes to auctioning Patek Philippe watches on eBay, this generally works best only for those who are established watch dealers who have bricks-and-mortar businesses.
There are simply too many fake luxury watches on the market. Thus the potential for fraud is too great for most buyers to risk spending thousands of dollars on a Patek Philippe watch on eBay—even with the increasing safeguards that eBay has put into place.
Sellers should also take into account the hassle and time involved in setting up a proper and professional looking eBay listing for their Patek Philippe—including well-written text descriptions, quality photographs, etc.
In contrast, selling your Patek Philippe to Diamond Estate Jewelry Buyers is very easy and fast. By using our highly-secure Sell Watch From Home service you can be guaranteed a fair and prompt cash offer for your Patek Philippe, while having complete confidence in the security and confidentially of the process.
Let us help you sell your valuable Patek Philippe for more cash today. Call our friendly and knowledgeable staff to arrange a free, no obligation, appraisal of your Patek Philippe timepiece.
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Diamond Estate Jewelry Buyers generous cash offers on all models of Patek Philippe watches, including the Calatrava, Nautilus, Twenty-4, Gondola, Golden Ellipse, Grand Complications, Aquanaut, and vintage models.