How to value a watch

There are several reasons you might want to know how to value a watch—be it to sell it, insure it, or just to satisfy your own curiosity.

Similarly, there are several ways to determine your watch’s value, from doing your own research to getting a professional valuation.

In this blog, we'll look at how watches are valued and how you can get a valuation for yours. But first, let’s start with some of the basics.

How are watches valued?

The main factors that influence a watch’s value are:

Model

Certain timepieces are more sought after than others. This demand can be based on a watch’s scarcity, prestige or aesthetic beauty. Demand drives value, so any given model’s value fluctuates accordingly. That’s why it’s so important to check your watch’s value regularly. As a general rule, the older a watch becomes, the more valuable it is.

Condition

Obvious it may sound, but a watch that’s damaged, broken or scratched will be worth far less than the same watch in mint condition. If your watch is an investment or family heirloom, it’s important to take good care of it in order to retain or even increase its value.

Rarity

Several factors can determine a watch's rarity. This is based on a combination of age, scarcity and condition. Initially, a watch may have only been manufactured in limited numbers which, providing demand outweighs supply, will drive its value up.

If the watch is also quite old, there’ll probably be fewer of them available (and potentially even fewer still left in good condition!)

All of these factors can help define how rare a watch is considered to be and substantially influence its value.

Proof of authenticity

If you can provide official documentation and the watch’s original packaging, there'll be little doubt your watch is genuine and you should receive a higher valuation as a result. You’ll also need these documents when taking out watch insurance to evidence ownership.

With this knowledge, you can research the approximate value of your watch by looking for the same model in similar condition. You can find these on online marketplaces such as Chrono 24, Chronotrade and Watchfinder. Even eBay is a great resource because it shows completed auctions, meaning you can see what certain watches have actually sold for.

Getting a professional watch valuation

The only definitive way to find out how much your watch is worth is to have it professionally valued. While you can take it to your local jewellers and they’ll probably give you an estimate, if some cursory research indicates that your watch is likely worth a substantial amount, you may want to consult a watch specialist.

Similarly, many watch retailers offer online valuation services, but this is based on information you provide, so it doesn’t compare to a physical examination. Besides, if you plan to sell your watch, it helps your negotiating position to have a respected valuation in writing.

Auction-houses like Sotheby’s employ watch experts who’ll value your watch for insurance purposes or retail and will also facilitate its sale should you wish.

Alternatively, members of the National Association of Jewellers are able to provide accurate and trusted valuations.

Valuing a watch for insurance purposes

 If you’re a watch collector (or just don’t plan on selling yours), it’s wise to take out specialist watch insurance.

When taking out this type of insurance, you’ll need to provide proof of its value. This is quite straightforward if you still have the original receipt, but many older and more prestigious watches might have been passed down or sold on during their lifetime, and therefore original receipts are often long lost. In this instance, you’d need to provide an accredited valuation.

The good news is that at Ripe, we accept valuations from National Association of Jewellers-approved valuers. You can find your nearest certified valuer here.

If you already have watch insurance, it’s still important to have your watch valued regularly so you can inform your insurance company at renewal and adjust your policy accordingly. This will ensure that you’re covered for your watch's current value rather than an outdated amount in the event of loss, damage or theft. We recommend having your watch valued at least every three years.

Specialist watch insurance through Ripe

Now you know how to value a watch, you can make sure your watch insurance policy gives you the right level of protection.

Specialist watch and watch collection insurance through Ripe can cover your watch against theft, loss and damage in the UK and worldwide. Plus, you can tailor your policy to your specific needs, so you’ll never pay for cover you don’t actually need.

Get a quote online today and see how Ripe can help you.