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Posts Tagged ‘pre owned watches’

One of the most common questions from potential buyers on WatchChoice.com was not about the luxury watch or pre owned watch they had found for sale on the site but about how they could make themselves comfortable the watch dealer selling the watch was a business they could safely do business with. To help out their customers, WatchChoice.com decided to put together a 45 page in-depth guide to buying luxury watches online and make it available for free download to anyone visiting the site. The guide is called “Buy the Watch and the Seller” to remind buyers that it is just as important to research the seller of the watch as it is to research the watch you are buying.

Glenn Palmer, WatchChoice.com’s Owner and Founder, knows from personal experience that transferring money across the country or to another country for a luxury Swiss or German watch or even a pre owned watch you haven’t been able to see with your own eyes and touch can cause some anxiety. “The guide provides dozens of tips in an easy-to-follow format and gives buyers practical actions they can follow without leaving their computers” says Palmer.

The first section of the eBook caters for those new to luxury watches and covers the basics of buying luxury watches such as the different types of mechanical watch movements, the importance of the number of jewels and resale values. The second section talks about knowing the total price of your watch purchase so that costs such as shipping and handling costs and import duties if you are buying from outside your country are included in your total price. Warranties are also covered in this section and the various types of warranties and the real protection they give you are discussed. This section also gives some tips on how to spot a fake luxury watch and the tactics of luxury watch imposters.

The last section looks at the often overlooked topic of assessing the online watch seller and is the “Buy the seller” part of the eBook title. This section talks about the protection that different payment types offer the buyer such as the superior protection offered by paying for your watch with a credit card versus paying by Wire Transfer services like Western Union and how escrow services work. How to assess the security software in place on the sellers website, the importance of the number of communication channels the seller provides and the seller’s return policies is also discussed in this final section.

Palmer said he believed “it was time that buyers were given access to comprehensive and easy to follow tips on buying luxury watch brands online. We hope our eBook and simple checklists will help buyers feel more comfortable when they come to make their next online luxury watch purchase.

The Luxury Watch Buying Guide can be downloaded free from WatchChoice.com.

WatchChoice.com has seen a significant upturn in the last few months in the interest being directed towards luxury watches that have previously been owned by someone else. While some people call them second hand watches, others say “used” while others prefer “pre owned” or even “pre loved” but whatever your term of choice, the market for quality used luxury watches is increasing in popularity.

As the Global Financial Crisis deepens and the luxury watch market slows, a greater number of luxury watch enthusiasts visiting WatchChoice.com are shifting their attention from new luxury watches to used watches. Glenn Palmer, WatchChoice.com’s Managing Director, says feedback from Watch Choice buyers points to a number of reasons for the increase in interest in the pre owned market. The soft economy and the uncertainty about whether the economy will slow further or when it will bounce back has resulted in low levels of confidence in enthusiast’s future financial circumstances. That means buyers planning to purchase a luxury watch have found it harder to justify the investment and have turned to the used watch market as a cost effective way to acquiring a luxury watch for themselves.

Other feedback from luxury watch enthusiasts shows the current economic environment has also affected their buying habits. Some collectors have reported they are more likely to sell one or more luxury watches from their collection to fund the purchase of their next watch where previously they may have simply continued to add watches to their collection. Collectors who become sellers before buying have therefore added to the number of pre owned watches for sale.

Luxury watch buyers in countries that have in recent times experienced substantial currency rate declines, such as Australia, against stronger currencies such as the US dollar, English pound and the Euro have seen substantially increased watch prices. Enthusiasts in these countries, are specifically searching for great value watches and have discovered the market in excellent condition used watches as a way of meeting their luxury watch desires.

Glenn Palmer says that the increased levels of interest in second hand watches is likely to continue for at least as long as the economy remains depressed and possibly longer. He says “we could see higher interest levels in second hand watches maintained in the long term as the current economic conditions have introduced buyers who would not have traditionally considered buying a pre owned watch to the value and variety of the used watch market”. Only time will tell whether the second hand market remains as popular as it is now when the economy eventually returns to more positive ground.