Get more value with watch consignment
WatchMaestro is the only pre-owned luxury watch dealer in the UAE that lets you consign your watch. But what is consignment? Watch consignment online is basically getting your watch listed on our website at an agreed price. After a thorough inspection and evaluation of the watch, our team will discuss the pricing with you and only list the watch at the price you agree to.
While the watch is listed, it is still yours until we find a suitable buyer for it. This will allow you to showcase your watch to our huge user base and sell it for the price that you have always wanted.
To initiate the consignment process, you just need to speak to one of our associates and they will help you get your watch listed on our website. Once your watch is sold for the listed price, the amount will be transferred to you immediately via your preferred payment method. For the consignment, you will be charged an admin fee of AED 1,000. Also, depending on the selling price of the watch, we will take a nominal commission only after the watch is sold.
How does the watch consignment process work?
Watch consignment lets you sell your watch for the maximum price possible. For this, we list your watch on our website in exchange for a small commission. As soon as we receive the payment from the buyer, we will transfer the agreed amount to you via your preferred payment method.
Step 1 – Description of the watch
Step 2 – Inspection and evaluation of the watch
Step 3 – List your watch on our website
Step 4 – Receive payment
Step 1 – Description of the watch
In order to help us determine a rough estimate of your watch, we will need some basic information. You have to provide the tdetails about your watch including the watch’s brand name, model, reference number and serial number. Alongside that, you should also provide your contact information so that one of our agents can get in touch with you to discuss the next step.
Step 2 – Inspection and evaluation of the watch
Before we can list your watch on our website, we need to ensure that it is in a good condition and all its parts are authentic. For that, you can either bring your watch to us or send it to us through courier. Our experts will then inspect the watch from inside and out to determine its true market value. Based on that, we can agree upon a price for the watch’s listing.
Step 3 – List your watch on our website
Once we have agreed upon the price and the commission rate, we will list the watch on our website. We will also post the watch description and images on our social media channels and our WhatsApp groups. This will help us sell your watch at the desired price in a short period of time.
Step 4 – Receive payment
Once we have found a buyer who is willing to pay the asked amount, we will take the money from them and give the watch in exchange. You can choose to get paid in cash or we can even transfer the money to your bank account.
What will WatchMaestro do for you under watch consignment?
As a part of the consignment, we do not just list the watch but also ensure that the listing reaches and appeals to as many people as possible. From market research about the watch to getting it photographed by our professional photographer, we do everything to make sure that your watch gets the price it deserves.
- Market research
- Professional photography and watch description
- Social media posts
- Shipping and finalizing payment
Market research
The luxury watch market is vast and the prices of the watches keep fluctuating. With the help of our professional team and years’ worth of experience, we will be able to conduct proper market research for your watch. This helps us determine a price range that your watch can be sold at. After we have determined a price range, our team will discuss with you the possibilities for a price tag. As soon as we agree upon a price, the listing process of the watch will be initiated.
Professional photography and watch description
In order to make your watch look more appealing to our user base, our professional photographers will get nice pictures of your watch for the website. This will not only appeal to the potential customers but also tell them about the condition of the watch. Our content team will then write a well-thought-out watch description that will help us communicate about the watch to our user base.
Social media posts
Listing the watch is not where we take a halt. We will also be posting pictures and descriptions of your watch on our social media channels. This step will be taken care of by our social media team and photographers, who will work together to post appealing Instagram stories and posts. Besides that, the watch information will also be circulated among our clients through WhatsApp. This helps us bring the attention of our user base to your watch.
Shipping and finalizing payment
As soon as we find a suitable buyer for you, you will be notified. If the buyer is from outside the UAE, we will ship the watch to them. Our team will ensure that the buyer pays in full using one of the payment methods. Upon receiving the payment, the amount will be transferred to your bank account. You can also choose to get paid in cash if you are in the UAE.
When should you use consignment over regular selling?
When you are looking to sell your premium watch, you have two major options. Either you sell the watch directly and get instantly paid. Or you can choose to consign your watch. But what is the difference between the two selling methods? Here’s a deeper dive into how the two selling methods differ when you are looking to sell your Rolex or Patek Phillipe watch.
- Sell it directly
- Luxury watch consignment store
Sell it directly
The fastest way to sell your watch would be to come and sell it directly at WatchMaestro. Under this method, you will get paid immediately after the inspection and evaluation of the watch. This would be a great way to sell your watch if you are in a hurry. You will not only save time but also end up getting a good deal for your precious timepiece.
This is a method that you can use when you are short on time or want to sell your watch to buy another one as quickly as possible.
Luxury watch consignment store
Time is money. It is a popular aphorism often used by the rich and elites alike. Watch consignment is exactly like time is generating money for you. As a part of the Rolex consignment or any watch consignment, we will list your luxury watch on our website. This way, you will not only be able to showcase your watch to our large user base but also you can be stress-free about the selling. Once the watch gets picked up by someone, we’ll take care of the whole shipping and payment process.
You can use Rolex consignment or any luxury watch consignment online to get the best price possible for your watch. But as we have to wait for a suitable buyer to walk in, this process will be slightly time-consuming. If you are not in a hurry, we highly recommend that you go with the consignment method.
Benefits of using WatchMaestro as your watch consignment store
If you are looking to consign a Rolex in Dubai or any other watch for that mater, WatchMaestro can help you sell it for the maximum value. We are the only pre-owned luxury watches Dubai dealer that allows you to consign your watch. Using our consignment services, you get the maximum value for your watch via our huge user base and the process is completely transparent. You will be charged a very nominal commission fee and you can choose to get paid using any of the available payment methods.
- Transparency
- Huge user base
- Nominal commission rates
- Multiple payment methods
Transparency
At WatchMaestro, we are completely transparent with all our clients. From the evaluation of your watch to getting it listed on our website, we will be taking you through the process. Every step of the way, our associates will keep you informed and as soon as the watch is sold, you will receive the amount post deduction of our agreed commission.
Huge user base
WatchMaestro has a large user base across the globe. We also have contacts in the industry so that the watch can be sold as quickly as possible. While consignment does take more time than normal selling, we will still get you your money as soon as possible.
Nominal commission rates
The true benefit of watch consignment store comes only when you are charged a low commission. Thanks to WatchMaestro, you will be charged a very nominal commission fee and you will get the maximum amount. The commission that we charge depends on the market value of your watch. Here’s how much commission we charge depending on the price range:
| Selling price of the watch (in AED) | Commission Rate |
| 30,000 – 200,000 | 20% |
| 200,001 – 500,000 | 18% |
| 500,001+ | 15% |
Besides that, you will also be charged an admin fee of AED 1000. This amount is for listing the watch on our website and preparing the contract for you. With this payment, we also take care of the inspection and evaluation of the watch. As for the commission, it will be charged only if the watch is sold but the admin fee has to be given upfront before the watch is listed.
Multiple payment methods
One of the most striking benefits of our watch consignment store is that you get the option to be paid in your favorite payment method. We can transfer the amount to your bank account. If you are in the UAE, we can even hand over cash.
An example of a watch consignment at WatchMaestro
Here’s a quick example of how Peter sold his Rolex GMT Master-II Batman for a great price by consigning it to us:
One day, Peter decided that he wants to sell his Rolex GMT Master-II Batman. He visits WatchMaestro with his watch. Upon a thorough inspection and evaluation, WatchMaestro quoted a price of AED 90,000. But Peter did not seem to agree with the price as he was looking to get somewhere close to 120,000.
As a result, WatchMaestro suggests he uses the watch consignment service. Peter showed his interest as he was in no hurry. A quick market research conducted by the WM team determined that the watch is worth AED 110,000. Peter agreed to the price and the watch was listed on the WatchMaestro website for AED 110,000.
After 3 weeks, there was a buyer ready to buy the watch at the listed price. After taking the consignment fee, WatchMaestro sent the remaining amount to Peter in his bank account instantly. At the end of the day, Peter was really delighted to get a great deal without any hassle.
