Hello out there -
I was curious to know what considerations may be involved when assessing the trade-in value for a watch. I am particularly interested in how dealers value trade-ins, but feel free to add thoughts on private party transactions as well.
I am especially interested to see if anyone has worked at a dealer and can provide some thoughts.
Perhaps they typically try to purchase for half of what they think they can sell it for, or price it so that a cash offer is more attractive to the person trading in. Does it matter if the watch being purchased (the one your trade-in is going to partially finance) is new or used?
To put this in context, I am considering trading in a watch and putting the value toward another used watch for sale at a dealer. I have a trade in offer which seems pretty reasonable considering what I think my watch is worth, but it seems like the seller would still make out better with an all cash offer, according to some rough calculations I did today.
Any insight is welcome.