Selling on Chrono24: How to and the alternatives
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You are probably investigating how selling on Chrono24 works and if there are any better alternatives. In short, yes there is a better alternative. But you may still be interested in learning how to sell a watch on Chrono24. It still is a platform with a huge number of watch enthusiasts searching for watches every single day. We will explain the difference between selling as a private seller and a professional dealer. What the fees are. And how to take care of negotiating, shipment, insurance and after sales with the buyer.
Read our other blog about the numbers and history on what Chrono24 is. In short it is a marketplace which was founded in 2003 that has a reach over (almost) the entire globe and facilitates in selling watches. Online buying and selling of watches basically started with this platform. Nowadays it holds a vast amount of pre-owned dealers and private sellers who can offer their watches on this platform.
Selling as a dealer
Selling as a professional watch dealer has it's benefits. Of course you can personalize your shop in the "real world". With a shop, company invoices and pay suppliers with the use of your company name. But on Chrono24 it has some advantages as well. You can become a "Trusted Seller", gain reviews from buyers and build up a reputation.
Becoming a dealer can be a relatively difficult and a time consuming process. You have to submit quite a bit of documents and details. Such your ID, bank details, company extracts and sign forms. These documents will be reviewed and after approval you can become a commercial dealer. This will take some time.
Unfortunately you will have to pay hefty seller fees as a professional watch dealer. And listing watches will result in costs as well. The main overall added value is the traffic of potential buyers on the platform, the ratings system and a safe checkout. The rating system is used to built up a reputation. And the Escrow Service checkout ensures you can send the watch while the money is already received.
As a dealer you will have to pay a monthly subscription fee of up to €1.999 and a commission fee of 2%-8% on every transaction on the platform. We have been informed Chrono24 takes a selling fee of 6.5% on the first sales for a trusted dealer.
Here below we have presented an overview of the fees you pay as a professional dealer on Chrono24 compared to eBay and the Relleb marketplace.
Dealer fees Chrono24 vs. eBay and Relleb
** Store subscriptions (dealers) on eBay are charged with 11.5% up to €1.000, 4% over €1.000 to €7.500 and 2.35% over €7.500. Based on dollar indications shared by eBay.
Read our blog about the Chrono24 dealer fees for more in depth details about how the pricing works.
Selling as a private person
Selling watches as a private person is a hassle on his own you might think. But with the internet here, it has become a lot easier. You can have a world wide reach and not be "obligated" to meet other people while having a valuable watch for sale. Like back in the old days when you had to meet potential buyers at events to safely sell a watch for cash. Now you can offer credit card and safe Escrow checkouts with the aid of the platforms.
Now let's see how Chrono24 facilitates in this process. We have read the Terms & Conditions for private sellers and reviewed the website. We note there are four things that stand out:
- Private sellers are obligated to publish a listing for AT LEAST 3 MONTHS, and;
- Private sellers are not allowed to sell the watch anywhere else
- Chrono24 buyer protection is not eligible for buyers when buying from a private seller
- Chrono24 advises to MEET IN PERSON to buy a watch from a private seller (please don't do this!)
In specific Chrono24 even mentions "the Private Seller shall be obliged, upon request, to provide Chrono24 with suitable proof that the Private Seller has not yet sold the article offered and that he remains in possession of the article." We think this is quite aggressive to be honest. When you sell on the Relleb marketplace you will be allowed to sell your watch anywhere you want. We just want to make sure watch enthusiast can safely trade watches online with a fair commission. Bot sellers and buyers.
As a dealer you will have to pay a hefty commission selling fee of 6.5%(!!) on every transaction on Chrono24. This means on a sales price of €10.000, Chrono24 takes €650. Imagine the commission on a more costly Patek Philippe. Although Chrono24 claims it is a fair commission, we leave it up to the seller to decide what he thinks is fair.
We have an overview of alternatives to sell your watch online and the lowest commission is at Relleb currently. And in our opinion, more service as well!
Private seller fees Chrono24 vs. eBay and Relleb** Private sellers on eBay are charged with final sales commission: 12.35% up to €1.000, 6.5% over €1.000 to €7.500 and 2.35% over €7.500. Based on dollar indications shared by eBay.
For more details, you can go to selling your watch on Relleb.
Negotiating a price
Buyers can offer a lower sales price on listings. And based on our experience, many will try. For buyers, the step is relatively small online and you don't have to show you feel uncomfortable. Buyers and sellers can send counter offers.
We advise a seller to think about the sales price before putting it online. And stick to it. Unfortunately, buyers can be very rude and try to play you out. Stand your ground and don't take it personal.
Shipment of the watch
Sellers on Chrono24 are responsible to ship the watch. This can be quite the hassle, let us explain. DHL and FedEx don't support world wide insured shipping above €5.000 (or $5,000). Many sellers will be mislead as DHL and FedEx claim insurance of the package for any value up to €100.000 for 1% of the value. But if you read carefully in the terms and conditions. You will see that watches are not eligible for insurance.
There are a couple of things you have to be aware of:
- Most carriers don't support insurance above €5.000 ($5,000) for international shipment, such as DHL, FedEx and UPS
- Some countries require to report an incoming watch, otherwise you may be penalized for amounts up to €1.500 by customs (e.g. Swiss)
- You need a "commercial invoice" for watch shipments
- Carriers are not careful with packages. Make sure to pack the watch with sufficient bubble wrap and "caution fragile" tape. In an extra durable box!
Since we have the experience with shipping watches ourselves. We know how difficult it is.
On the Relleb marketplace all sellers are eligible for pickup and insurance service. This means we take care of arranging the shipment, the insurance and the declaration at customs. And the best thing is, we arrange this for you at cost price (with no additional margin charged by Relleb). Our carrier picks up the watch at your doorstep. No hassle. No problems. Easy and convenient.
Watch insurance during shipment
Insurance during shipment is really hard to arrange. DHL and FedEx don't support world wide insured shipping above €5.000 (or $5,000). Many sellers will be mislead as DHL and FedEx claim insurance of the package for any value up to €100.000 for 1% of the value. But if you read carefully in the terms and conditions. You will see that watches are not eligible for insurance.
On the Relleb marketplace all sellers are eligible for insurance service. This means we take care of arranging the insurance during shipment.
How to sell a watch on Chrono24?
Go to the footer on Chrono24.com and select selling your watch as a private seller or selling watches commercially. The cheaper alternative is Relleb.com with no seller commission at all.
Chrono24 will ask you to make an account and depending on whether you are a commercial or private seller. You have to submit information about yourself, your company and the watch for sale.
Experience selling on Chrono24?
The most claims are against the high selling commissions, high subscription fees, aggressive sales tracking and rude customers. In addition, we believe especially private sellers can be facilitated better. Shipment, insurance and support with customs when shipping a watch is at the full responsibility of the seller. That is why we founded a new marketplace, Relleb. With no selling commissions, pickup and insurance service and full protection to buyers and sellers.
Is selling on Chrono24 safe?
Selling on Chrono24 is not always safe. Buyers on the platform can ask to meet you in person or say -upon receipt- a watch is a fake or not delivered correctly. So you must be cautious when selling on Chrono24 primarily as a private seller.
Although the service desk is on weekdays available and supportive, buyers may try to trick you in meeting in person. Or try to scam you with a sale outside of Chrono24. Be careful and follow the next steps.
How do I sell my Chrono24 watch? Safely!
First create an account and make sure your private details are not visible. Process a transaction via an Escrow account and don't meet in person.
It is more easy to safely sell your watch on Relleb. As you will be protected by the escrow service, the authentication service and the customer care. On top of that it the platform is less expensive as well.