How do you compare to selling my watch online for cash?
When selling a Used Luxury Watch, you have a number of choices. You can place a classified advertisement and negotiate with buyers yourself. You can also place this ‘on consignment’ with a number of used luxury watch dealers and wait for a customer to make an offer.
At BuyBack Bazaar, we get our prices from reputed Quality Fine Luxury Watch Dealers from around the world including the US, UK and Europe. Our dealers provide a CONFIRMED PRICE to Buy your watch NOW for cash with an option to Buy it Back.
Our dealers compete in a blind auction (that means no one knows what others have bid) and the highest bid winner gets your deal! So you can Sell your watch now for instant cash OR get cash temporarily and still have the option to buy your watch back for a preset price.
No hidden fees, No haggling and No strings attached
Is my watch safe during assessment and storage?
Safety of your watch is our topmost priority. We have gone to great lengths to ensure that your asset is handled by technicians with 10+ years of experience and trained directly by some of the top watch brands in the world. Our member Ateliers (workshops) are world class facilities equipped with manufacture-quality machines and tools to cover the most complex movements.
Once your watch is assessed by them, they seal it in your presence in a single-use tamper-proof package and store this in their high security vaults for the duration of your deal. So if you select a BuyBack option, once the package is sealed, you are the only person who would re-open the sealed package when you return to BuyBack your precious watch. It doesn't get any better than this!
Who owns the Watch while it is stored with you?
In all our BuyBack deals, customers sell the watch to our Purchasing Agent who is the legal owner for the duration of the deal. You are selling your watch and NOT taking a loan against it. Therefore, you have no obligation to BuyBack your watch. The watch is stored securely with our custodian (a world-class and highly respected Atelier) until your BuyBack date. After that, the Purchasing Agent is free to sell the watch at their discretion.
What happens if I don’t return by the BuyBack date?
Absolutely Nothing! The Purchasing Agent is free to sell the watch at their discretion and we are always happy to serve you again. We only send you reminders for your convenience and you are never under any obligation to BuyBack.
Can I extend the BuyBack Date for my Watch?
If your first BuyBack date was less than 60 days from when you sold the Watch, you CAN extend the BuyBack date for the rest of the period for the same BuyBack price by paying an Extension Fee.
For example, if you did a deal to BuyBack in 40 days, you can extend this date for an additional 20 days by paying a fee to make the total BuyBack date 60 days from the date you sold the Watch. To extend it beyond 60 days, we get a new price from our dealer network. This price could be higher or lower than your original BuyBack price and you would either receive or pay the difference to extend the deal.
Can I BuyBack my Watch after the BuyBack date?
Once the BuyBack Date has expired, the dealer has the right to sell the watch to any customer at their complete discretion. If the asset is still in their stock, you will need to negotiate a purchase price directly with them. This price will most likely be higher than your confirmed BuyBack price. Please contact us if you need assistance with this
What does the BuyBack Service Fee cover?
BuyBack Service Fees charged by the Purchasing dealer includes
How do you apply VAT to this deal?
VAT only applies to you if you return to BuyBack the Watch. If you have a receipt showing you paid VAT in the UAE when you originally bought your watch, then you only need to pay VAT on the deal service fee (the difference between your Sell and BuyBack price) However, if you do not have a receipt OR purchased the watch in the UAE before January 1st 2018, then you will need to pay VAT on the full BuyBack price of the Watch.
If you are returning to do a second BuyBack deal for the same Watch, then VAT will only be applicable on the deal service fees