Buying a pre-owned watch can be a risky business. Each year thousands of people buy second-hand watches that have not been serviced, have inauthentic parts, are hiding serious accident damage, are incorrectly described, or are stolen. Unfortunately, in many cases, the buyer can end up being thousands of dollars out of pocket.

Losing the watch and your cash

Pre-owned watch buyers are at risk of purchasing a watch they will never legally own and, therefore, are in danger of losing the watch and the money they paid for it. This can occur if the watch is counterfeit, stolen and/or cloned.

Counterfeit Watches

Many buyers are looking for an opportunity to buy a luxury pre-owned watch for a fraction of the price. Why pay more when you can get the same watch for half the price? Counterfeiters know this and now make watches that can even fool the manufacturer. As a result, more than half of the pre-owned buying community is unknowingly wearing fake watches.

Stolen Watches

Buying a stolen watch will result in you losing both the watch and the money you paid for it. WatchFacts® coordinates with the manufacturers and various law enforcement agencies to collect information on whether a watch was reported as lost or stolen.

Cloned Watches

A cloned watch is a stolen watch which is given the identity of a legitimate watch to help disguise the fact it is stolen or inauthentic. This is the watch equivalent of identity fraud. A cloned watch could have an authentic case of a brand, such as stainless, but be represented as a two tone or have fake diamonds to command a higher price.

Buying a watch with an inferior history

Unscrupulous watch fraudsters have little regard for you, particularly after you have parted with your cash. Watches could have mechanical problems as a result of being submerged beyond their recommended limit.

No Service History

A watch without a service history could be very expensive. It reflects negligence and / or ignorance. Nonetheless, most watches need to be serviced every three years. Depending on the complication, movement, and type of the watch, the cost of service could be at least a thousand dollars. Similar to cars, mechanical failures could occur if the correct servicing schedule has not been maintained, and then you are left begging the question, would you buy a car from someone that never had an oil change?.

Repair Work With Inauthentic Parts

Some watch owners are focused on price not quality. As a result, they send their watches for repair to service centers that may use inauthentic parts. This could create further damage to the watch and cost you more money in the long run. Without the proper inspection, it could be years before you discover the truth.

Buying Someone Else's Problems

Some watches could have mechanical problems. For example, a water resistant watch that is submerged beyond its authorized limit may leak and encounter internal destruction, and in turn, this may cost you more than the watch is worth.

Thus, before you buy, request a WatchFacts® Report .