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The Costs That Accrue When Selling A Rolex Watch

The Costs That Accrue When Selling A Rolex Watch

When deciding to sell a used Rolex watch, its owner is bound to receive a lot of money. In fact, they could be paid thousands of pounds for it, in particular if it’s rare. If the owner of a Rolex watch is unsure if they should sell it because they believe various costs will accrue, here’s what they can expect to pay:

Nothing

There are many situations in which no fees apply, such as a website that offers a quote service. When information has been entered onto an enquiry form, a free delivery pack is sent to the address that’s provided. Once a used Rolex watch has been assessed, its owner will be given a quote. Even if a quote isn’t accepted, it will be returned at no extra charge. As a Rolex watch can be sold to a website that issues quotes throughout the day, this option is very convenient and won’t cost anything at all.

The Costs That Accrue When Selling A Rolex Watch

A Rolex watch can be sold for free via an internet auction site where the person that eventually buys it has to collect it. If a Rolex watch is sold to someone in the local area, its former owner won’t have to pay for postage. Consequently, it can help with keeping costs down. It is convenient in other ways, largely because its former owner can be paid just hours after a winning bid is placed.

£2 – £5

If a Rolex watch is sent via post, the amount that’s paid does vary. When a Rolex watch is put into a large box, postage fees do rise. If a large Rolex watch is sold, more has to be paid in order to have it delivered. The same also applies to when a Next Day delivery service is chosen. If the former owner of a Rolex watch provides this service, it has to be deducted from what they are finally paid.

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A maximum of 3.4% of the total sale plus 20p

When a used Rolex watch is sold via PayPal, fees have to be paid. If a Rolex watch is sold for less than £1,500, 3.4% plus an additional 20p applies. This figure then rises to 2.9% when a Rolex watch is sold between £1,500 and £6,000. For up to £15,000, 2.4% applies. However, as PayPal is safe to use, these fees are worth every penny, especially as bank details aren’t shared.

Although it can seem inconvenient to pay the fees that are charged by PayPal, peace of mind is guaranteed no matter how high a transaction is. Even if a Rolex watch is sold for £50,000, payment details cannot be accessed by anyone. In fact, the only personal information which appears when processing payments via PayPal is an email address. As PayPal has put certain steps in place to protect account holders, it is very difficult to hack into an account and access personal information. Consequently, it is inherently difficult for hackers to steal bank details, such as the account that money is transferred into.

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