How To Tell If Your Old Watches Are Worth Anything

You've probably got plenty of old things hiding out in your drawers and closets; things like collectible watches that might actually be worth a pretty penny on the resale market (like these extremely valuable watches you just might have laying around). But how do you know if you've got a potential goldmine on your hands or simply a fascinating old watch that has lots of meaning for you? Whether your old watch is a family heirloom handed down from generations past or a timepiece you bought once upon a time and forgot about, quality watches (particularly men's watches) have proven to be highly collectible over the years.

Like valuable old coins you might be hanging on to or vintage perfume bottles that can fetch a pretty penny today, there's quite a market for old watches. According to data from Statista, a German database company that gathers worldwide data on a variety of topics, while the secondhand market for luxury watches has been on a decline since 2022, it remains the top category of secondhand luxury goods. Given this, it could still mean big money for anyone looking to sell an old watch they might not need or want anymore. The question is, how do you tell if the watch you own holds any value beyond sentimental value.

Watches come in a variety of styles, feature a variety of materials, and the value can be affected by a number of factors. For example, if a particular model of watch is favored by an A-list celebrity, you can safely bet that if you've got the same watch in your collection, it'll be worth a decent chunk of change. But more importantly, says watch and diamond retailer SWD Watches, are things like the make and model of a watch. The most valuable watches are Swiss-made, which, according to The Slender Wrist, means that the watch must meet a list of criteria established by the Swiss government to regulate the watch-making industry. So, if you have a timepiece crafted by a well-known Swiss maker like Breguet, Jaeger-LeCoultre, or Patek Philippe, it could have quite a bit of value.

Similarly, the materials and craftsmanship matter. If you have a watch made from gold or platinum with precious gemstone details, those materials alone carry value and are an indication that it was created with the intention of retaining or gaining value. When it comes to the craftsmanship itself, there are centuries of engineering and artistry that goes into the movements and complications (the complications are additional features like date windows, chronographs, and moon phases), so things like handcrafted movements and complex complications equate to high value.

Watch brands run the gamut from the super affordable to the ultra-luxurious with price tags in the thousands, but certain brands, such as Patek Phillipe, tend to bring in the big bucks on the auction market (as reported by Barron's, a Patek Phillipe Ref. 6300A-010 Grandmaster Chime in stainless steel sold for $31.2 million in 2019, making it the most expensive watch ever sold). If you think you have a valuable old watch, take it to an expert for a market-value appraisal. Such an appraisal will tell you how much your watch is currently worth on the open market, thus helping you determine how much you could possibly sell it for. Although you'll have to pay for the service, the cost may prove worth it to avoid missing out on getting fair value for your timepiece.

Not only will an appraisal let you know the value of your watch, but it'll also provide you with a certificate that will give you leverage when you want to sell it by verifying the watch's authenticity. Armed with these tools, you'll be able to seek fair value for your timepiece and avoid being taken advantage of by potential buyers. When you're ready to sell, you have many options, like an online marketplace, a jeweler that buys and sells timepieces, or a reputable auction house. Selling your watch at an auction stands to bring the highest price, but you'll also pay fees for the privilege, so you'll want to weigh your options carefully.