Why Selling Singapore Watches Could Leave You Shortchange?

For some time now, the Auction houses have been available for another lucrative season selling rare and exclusive luxury things. The world’s online news feeds have been awash with watches selling for hundreds of thousands of dollars, with a few topping the magic million. It is easy for the man On the road to imagine from this that the ideal place to sell a watch is at an auction – and out of numerous too-good-to-be-true-but-it-is stories, the ideal place to find one particular watch is in a boot fair, in your attic, or left by a hurricane.

However, while Sometimes people do find real gems in such places, finding or rediscovering lost treasures and family heirlooms, or, every now and then, just getting lucky, these watches are precious since they are highly limited. The odds of owning one and not knowing about it are slim to none at best.

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For most people, selling a watch at auction could be a disaster. It is commonly intimated on auction reality shows such as Cash in the Attic or Bargain Hunt that selling small firearms for a couple hundred or even a thousand or two is perfectly workable, but this does not take into consideration the costs involved, or if an auction is the perfect place to buy or sell.

For starters, there is the listing fee. If you would like an auction house to sell watch singapore, you need to pay them to do it. Then there is the Vendor’s Commission. This is the commission, depending on the selling price, the Auction house requires selling the item and it may differ from a pleasant, low, 8%, to a startlingly high 20 percent of the whole sale price. Then you pay VAT on this commission. As you can see, auctioning something which only sells for a couple of hundred pounds in the first place can seriously eat away at the cash you get. If it is any comfort, the purchaser of your product will even pay a commission fee in addition to the bidding price. So that the auction house really gets two sets of commission for each sale. Actually, not a lot of comfort is it.