Watch trading is a great way to maximize the value of your collection and trade up to increasingly rare and luxury timepieces. Whenever I’m asked how I first became a luxury watch dealer, my answer is that I actually started out as a watch trader.

Buying and Selling Watches

Like many watch enthusiasts, my introduction to watch collecting was through buying and selling watches, specifically Rolex vintage stainless steel sports watches. As I gained greater experience and finesse in navigating the watch market, my tastes gradually shifted to increasingly more expensive 18K gold Rolex Daytonas and Patek Philippe wristwatches. (I also owned an exotic car or two back then, but that’s a story for another time.) Even during the early-mid 1980’s, the increasingly more expensive watches that I sought to acquire sold for four and sometimes even five figures.

This is when I discovered the power of watch trading — not only with dealers, but within the greater watch trading community. Because I had always purchased with an eye toward quality and rarity, not to mention the fact that the watch market and stock market were booming, the stainless steel Rolex Submariner and American and Swiss pocket watches that I owned had risen in value and were in demand by other dealers. Trading these watches became a valuable tool in my arsenal of not only building my own personal collection, but ultimately as a crucial skill in building my business and earning the loyalty of my clients.

Watch Trading Community and DeMesy

Here at DeMesy & Company, we receive numerous trade proposals on a daily basis. Some are — let’s just say, a bit unrealistic. I appreciate obscure boutique brands and limited edition watches as much as the next guy, but the reality is that many of the boutique brands that are hyped in magazines and watch blogs are challenging to re-sell in the secondary market (on the other hand, if you have an F.P. Journe you’d like to trade, let’s talk). Fortunately, when a client approaches me with a trade proposal involving realistically-valued top-tier brand watches that I can use in my inventory, I’m usually eager to work out a deal. Not all dealers are eager to trade, but here at DeMesy & Company, we encourage trades and enjoy helping collectors and watch enthusiasts “trade up” to the watch of their dreams.

 The Watch Trading Academy brought to you by Joe DeMesy

With that in mind, I’d like to offer a few tips on how you can make watch trading an enjoyable experience. Welcome to the DeMesy Watch Trading Academy!

My first piece of advice — get a realistic sense of what your watch is worth in the secondary watch market. Obviously, a number of factors come into play when we determine what a pre-owned watch is worth. However, by perusing eBay and checking out recent auctions, you can at least start to get an approximate idea of the market value for the watch (or watches) you wish to trade. When I’m approached with a trade proposal, I’m actually looking at two transactions — how much I need to get for the watch in my inventory that you wish to trade for, as well as what I think I can ultimately get for your watch (keeping in mind that I have to make a profit to remain in business, not to mention the fact that I offer a one year guarantee on every watch that I sell).

Watch trading is simply good business — especially when I take back in trade watches that I may have sold you in the past. It’s a way of replenishing my inventory with quality timepieces and it builds loyalty among my clients.

If you decide to trade collector-to-collector, much of the above advice applies, except that if you are taking a trade, keep in mind that it may take considerable time and effort to sell the watch you are taking in to trade. Remember market conditions are unpredictable, and a brand that is popular one year can see its popularity diminish over time. To give just one example, modern Panerai watches were among the hottest watches in the marketplace ten years ago, but the demand for them has since softened considerably.

Last but not least, when watch trading, it really helps if you have a problem-free watch, with box and papers. If you wish to trade pre-owned modern timepieces, they are considerably more salable when they are “full set” with the original box and papers. Sometimes I’m even asked if I would consider doing a trade with a watch that isn’t running. Obviously, I need to have my watchmaker inspect the watch to see what is needed to bring it back to good running order, but more often than not, I’m able to have the watch overhauled and can offer something in trade.

If you see a watch in our inventory that is calling your name, but may seem out of reach, don’t hesitate to reach out to me personally or to a member of my staff with a trade proposal. More often than not, we can make your trade proposal a “win-win” for our inventory and your collection. The easiest way is to fill this form out and we will get back to you with an estimate! CLICK HERE 

Until next time,
Joe

Joe DeMesy is the owner and President of DeMesy & Co. in Dallas, Texas- One of the largest dealers of vintage and contemporary luxury timepieces. He has been actively involved in the pocket watch and wristwatch market since 1979 and is well known by dealers and collectors throughout the world. Joe is a member of the International Watch & Jewelry Guild, as well as the National Association of Watch and Clock Collectors. His company has been featured as one of Inc. Magazine’s 5000 fastest growing privately held businesses in America.

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