Whether it is Vintage, Modern or Independent watch brands, our team of watch experts can advise you on the best value for your timepiece. Instead of leaving your watch at home in your drawer, bring it to us so that we can showcase your watch to our clients, while keeping it safe and insured in our vault.
How it works?
Step 1: Send us detailed photos of your watch from different angles and set a reasonable price comparable to the market price. You may do so via WhatsApp or email.
Step 2: Once we have agreed on the consignment price for your watch, you will then bring the complete set to our store.
Step 3: We will thoroughly inspect your watch and after, issue you a consignment note.
Step 4: We will advertise and market your watch across multiple channels. From here, it can take a week or maybe longer to find the right buyer.
Step 5: You will be notified once your watch is sold! Payment will be made to you by bank transfer.
How much does consignment cost?
No hidden charges! Just a straightforward mark-up from your asking price.
However, we are selective with the watches we take on consignment. That means we don’t consign every watch, we prefer watches that have a reasonable chance of selling at a reasonable price.Once you send photos of your watch, we’ll let you know if it’s a watch we can take on consignment for you. If you are asking for a price too high for your watch and we think it is unlikely to sell at that price, we’ll politely decline the offer to consign your watch because we don’t want to waste your time, or ours.
We recommend the consignment period to be at least 30 days as it is the ideal turnover duration. Some watches sell within 2 weeks, some takes 2 months. It depends on watch condition, price, and market conditions.
Once the consignment process has started, we charge a return fee of $50 for agreements cancelled before 30 days as a service fee to cover any marketing, production, transportation and/or storage costs incurred by the Company during the Consignment period. Any Watch(es) not sold during the Consignment Period, will be returned to the Customer, at the Customer’s expense.
Proper documentation and invoices
All paperwork for consignment is prepared by GR Luxury to make sure that all transactions are well recorded. We take proper measures to mitigate any fraudulent activities.
Example of consignment
- Tom wants to sell a watch and brought his full set to GR Luxury.
- GR offered him $28,000 to buy the watch outright, but Tom does not need money in a hurry, and decided to consign the watch for a slightly higher price.
- Tom consulted with GR, and he is happy to try to sell his watch for $29,000.
- GR checked Tom’s watch thoroughly and issued Tom a consignment receipt, stating that GR took possession of the watch at a mutually agreed price of $29,000.
- GR proceeded to take high resolution photos of Tom’s watch and starts marketing it to our customers worldwide.
- Steve in the USA loves Tom’s watch and offered to pay $30,000 for the watch. GR Luxury worked with Steve by sending him pics and videos of the watch, and subsequently received the $30,000 from Steve.
- GR ships Steve the watch, and pays Tom $29,000 by bank transfer.