Advice needed

[triber]

My son-in-law has asked me to sell a couple of valuable watches that belong to his mother. She has had to go into a nursing home and needs some help with the cost. There is an appraisal for one done about 10 years ago for almost $3,000. I guess I am very wary of selling such expensive items, my sales rarely go over $50. I have seen so many horror stories of scams, buyers getting refunds saying items were not received etc. and losing the payment, and the item.

I really want to help them, my daughter is disabled with arthritis and can't work and they are making up the shortfall in the nursing home payments.

I would really appreciate any advice here.

[realjazz-123]

Hi: You should be aware that the appraised value of  $3000 for the watch is likely for insurance purposes and the actual sale value is likely  to be 20% or so. I learned this several years ago when  I listed a $3100 watch showing official appraisal form. There were numerous bids which reached $430, but the reserve was not met and I did not sell it. Keeping real value (20%) in mind, if you sell, make sure to decide what is the lowest you will sell for and set an auction from that point. That is what I would do if I were to try to sell my watch again. In an auction format, you may do very well above your lowest asking price if the watch does have  special features making it collectible.

        If  sold, I would use fully insured courier and offer to pay at least half the shipping cost for my own peace of mind that it will be delivered. Once delivered,  you can only hope buyer is honest. My suggestions are those from someone like myself who does not like risks. Good luck if you decide to sell.

[triber]

Thank you for your advise, I appreciate it. I realized that the appraisal could be way high, however, I checked similar watches sold on eBay, and the one nearest mine sold for over $5,000. Mine is older, 1856, solid gold, engraved, 15 jewels etc. I have to admit that I am very nervous about selling it.

I am thinking that mailing it by courier could mean costs at the border, as I say, I have never sold anything close to this value.

[realjazz-123]

Hi: Yes, it seems that you might a watch that should be VERY collectible. However,  I know exactly how you feel and it is not a comfortable feeling. Perhaps you should ask local jewelers if they are interested. Selling in person  to a known reliable buyer will not likely bring in $$$ as might an  eBay sale, but it will be carry less anxiety. Of course, many other readers on this forum  would not hesitate to list , but it seems you and I have high risk aversions. In any case, take your time (use watch) to decide.

[triber]

Actually 2 watches, both Waltham gold Hunters. I know my family needs the money, but I am going to get my husband to take them to a local jeweler that we know and trust. He might not want to buy them, but might know someone who does.

[pierrelebel]

"He might not want to buy them, but might know someone who does."

.... or he may want to take them on consignment for a percentage (typically 30% to 40%). 

If he sells the watches at full retail value, you may realize more money that way - with less risks - than selling on eBay to bargain hunters for less than full retail value and having to pay eBay/PayPal fees and shipping charges.

Good Luck.

[realjazz-123 · Accepted solution]

Your watches are good ones,  and  in my opinion, you are doing the right thing. It might take longer to sell them,  but less anxiety is more  important that more $$$.

[triber]

Thank you both, I agree, this will be the best way. I would hate to have the transaction go wrong and lose the watches to someone who claims not to have received them and get their money back. I have heard of transactions where delivery is tracked and come up "delivered", but signature has not been asked for, and Paypal returns the money.