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Q on second hand prices

  • 04-07-2014 10:50am
    #1
    Beano
    Closed Accounts Posts: 3,357 ✭✭✭


    I was watching a program called Posh Pawn the other night. A guy had a loan outstanding on 7 watches for £700. He couldnt pay so the pawn show was going to sell the watches to cover the debt. Of the 7 watches one was a Baume et Mercier (sp?) and two were tag heur. they had them appraised by a watch expert and were told that the 7 watches would just about cover the cost of the loan. I found this a bit suprising as i did some googling and the BEM retail for over a grand and the tags wouldnt be far off that. They took the back off the BEM and commented that the movement was like new. Are second hand prices on expensive watches really that low?


Comments

  • #2
    Homer
    Registered Users, Registered Users 2 Posts: 4,391 ✭✭✭Homer


    It depends on a number of factors really.. from individual models and brands perceived value.. to condition of the watches and whether they have box and paperwork etc?
    Tag Heuer traditionally won't hold their value anywhere near as much as the likes of Rolex, who typically have price increases each year, with a smaller line up of watches, means they hold and sometimes increase in value.
    So to answer your question yes it is possible that 7 (could be tatty, in need of service, no box and paperwork) watches would be lucky to get £700. Although in fairness pawn shops are in business to make money and probably undervalue when loaning and overvalue when selling otherwise they wouldn't last long!


  • #3
    Eoin
    Registered Users, Registered Users 2 Posts: 21,263 ✭✭✭✭Eoin


    700 seems a little low; even a tatty F1 would probably get half that alone.

    But at the same time the shop obviously has to pay less than that, so they can charge the retail prices you'll see elsewhere and make a profit. Also, these shows are entertainment; you never know what's scripted.


  • #4
    Cyrus
    Registered Users, Registered Users 2 Posts: 20,570 ✭✭✭✭Cyrus


    i think his tag was a fake wasnt it?

    and a second hand B&M is not going to be worth much, at least not that model!


  • #5
    Beano
    Closed Accounts Posts: 3,357 ✭✭✭Beano


    Cyrus wrote: »
    i think his tag was a fake wasnt it?

    and a second hand B&M is not going to be worth much, at least not that model!

    one of them was. he had 2 others that were genuine


  • #6
    Cyrus
    Registered Users, Registered Users 2 Posts: 20,570 ✭✭✭✭Cyrus


    Beano wrote: »
    one of them was. he had 2 others that were genuine

    I wouldn't take the valuations on that show as gospel either another guy had an old tag diver appraised at 5k now or was solid gold but it wouldn't get 5k In a month of Sundays


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