Rolex valuation
Discussion
A friend of my father-in-law died recently, and his widow is sorting out the will etc.
He has left his three Rolexes to his three grandsons, but to make sure that all is equitable the widow wants to know that they are all worth a similar amount.
So she has been to a local independent jewelers/watch shop for a valuation. He wants to charge her £150 to value the three watches, plus 1% of the estimated value. This seems a bit of an odd way to do it,, is the more he inflates is valuation the more money he charges.
Is this a normal process for this sort of thing or is she better going elsewhere? Bear in mind she is an elderly widow living in North Devon, so we are a long way from a Rolex dealer.
He has left his three Rolexes to his three grandsons, but to make sure that all is equitable the widow wants to know that they are all worth a similar amount.
So she has been to a local independent jewelers/watch shop for a valuation. He wants to charge her £150 to value the three watches, plus 1% of the estimated value. This seems a bit of an odd way to do it,, is the more he inflates is valuation the more money he charges.
Is this a normal process for this sort of thing or is she better going elsewhere? Bear in mind she is an elderly widow living in North Devon, so we are a long way from a Rolex dealer.
That's not acceptable.
I had to get my collection valued by a jeweler for the house insurance, I'm sure it was £20 for the first, £10 each for the others.
What I would suggest would be better in this instance would be to submit online value requests to Watchfinder or WOS.
Granted these will be trade values, but they are going to be comparable if its just to work out if some are more valuable than the others.
I had to get my collection valued by a jeweler for the house insurance, I'm sure it was £20 for the first, £10 each for the others.
What I would suggest would be better in this instance would be to submit online value requests to Watchfinder or WOS.
Granted these will be trade values, but they are going to be comparable if its just to work out if some are more valuable than the others.
That's pretty close to market value these days.
The guy I use charges £65 for the first item, then it reduces for each item after that.
But you get a folio for each watch with photos and descriptions, etc. with the valuation.
£150 is pretty normal for this service as there is a lot involved.
The guy I use charges £65 for the first item, then it reduces for each item after that.
But you get a folio for each watch with photos and descriptions, etc. with the valuation.
£150 is pretty normal for this service as there is a lot involved.
NDA said:
Alternatively, if you know the model numbers, take a look on watchfinder or chrono24 for current values.
Given the purpose, presumably an approximate valuation is all that's needed in which case a look around a couple of websites should give enough of an idea, i.e. a couple of hundred either way is not an issue?If all you need is an idea of value, rather than a valuation and to know that your plan is fair, feel free to email me and I can help you out.
I am a Watchmaker with over 30 years in the trade & I have 3 clients who run Watch & Jewellery shops that buy and sell pre-loved watches.
Happy to be of assistance if you need.
I am a Watchmaker with over 30 years in the trade & I have 3 clients who run Watch & Jewellery shops that buy and sell pre-loved watches.
Happy to be of assistance if you need.
Super Sonic said:
NDA said:
You could post up pics of the three on here - lots of knowledgable folk who could give you a decent ballpark.
Not allowed. There is a rule against posts asking for valuation.The 1% valuation fee seems like a complete scam though. Why would he get commission on whatever number he throws at you?
RiggaTheMighty said:
That's pretty close to market value these days.
The guy I use charges £65 for the first item, then it reduces for each item after that.
But you get a folio for each watch with photos and descriptions, etc. with the valuation.
£150 is pretty normal for this service as there is a lot involved.
There’s not though is there? They make out there’s a lot but it’s to justify their charges. It’s just a mass produced watch. The guy I use charges £65 for the first item, then it reduces for each item after that.
But you get a folio for each watch with photos and descriptions, etc. with the valuation.
£150 is pretty normal for this service as there is a lot involved.
the-norseman said:
Me and sister had our 2x Datejusts done recently by a Rolex AD, he asked for a "paper donation" in the charity box, think we chucked £100 in.
Ours are 1999 and 2002 models, the valuations come back basically the RRP to replace them for the closest thing you can buy new these days.
And you paid £100 to be told that? Bizarre. Ours are 1999 and 2002 models, the valuations come back basically the RRP to replace them for the closest thing you can buy new these days.
the-norseman said:
Well we didn't know that was going to be the valuation and also 2x documents were produced that could be submitted to insurance if needed, sisters insurance insisted on it. Mine didnt.
I can understand it on an obscure watch (e.g. Rolex Patriot, double red, Peruvian) where an expert eye is needed, if these are Sub, datejust etc, it seems madz4RRSchris said:
any reccommodations for a london valuer?
If you're in town, go to Burlington arcade and take it into Maunders, David Duggan and the Vintage watch co. They're all within a minute of one another. They'll all verbally give you a trade price- just don't expect a written insurance valuation without paying for the privilege.Gassing Station | Watches | Top of Page | What's New | My Stuff