Watch Consignment Explained: How It Works, What It Costs and When It Beats a Cash Sale or Auction

Watch consignment is an arrangement in which you leave your watch with a dealer who lists, markets and sells it on your behalf and pays you the sale price less an agreed commission, typically between 8 and 15 percent, once the buyer's payment has cleared. You keep ownership until the sale, you usually receive more than a dealer's immediate cash offer, and you wait, commonly two weeks to three months, for the right buyer. It suits watches that are worth more than a quick sale would return, gold and complicated references with a small buyer pool, and owners who are not in a hurry. This guide explains how consignment works step by step, what it costs against a cash sale and an auction, which watches consign well, what a good consignment agreement contains, and how to protect yourself. Bizak & Co. consigns and buys through its sell your watch page, and sources watches to order.

Last reviewed on September 25, 2026 by Filip Biczak. Prices are dated observations, not quotes.

How does watch consignment work?

The process runs in six steps. First, you send the dealer the reference, serial, set and photographs, and the dealer replies with a proposed listing price and commission. Second, the watch is delivered or shipped insured and the dealer inspects and authenticates it, confirms the condition grade and sends you a written consignment agreement naming the watch, the agreed minimum price, the commission and the term. Third, the dealer prepares the watch, which means a professional clean, photography and, if agreed, a service or pressure test at your cost. Fourth, the dealer lists the watch on its own site and to its client list and trade contacts, and fields offers; offers below the agreed minimum come back to you for a decision. Fifth, when a buyer pays, the dealer ships the watch with its own guarantee and holds the funds until the buyer's return window, if any, has closed. Sixth, the dealer pays you the sale price less the commission, usually by bank transfer within a stated number of days. At any point before a sale you can withdraw the watch, sometimes for a small fee if the dealer has spent on preparation.

What does watch consignment cost?

On a watch a dealer expects to sell for US$20,000, the difference between a cash offer at 15 percent below and a consignment at a 10 percent commission is about US$1,000 in your favour, for which you wait. On a US$60,000 Royal Oak the same arithmetic is worth about US$3,000. The Phillips watch department and Sotheby's watch department publish their buyer's premiums and results, which show how an auction's combined fees compare.

Which watches should be consigned rather than sold for cash?

Consignment earns its wait when the gap between a cash offer and the eventual sale price is large, which happens when a dealer cannot be sure of selling the watch fast. That describes gold and two-tone references, complications, diamond-set pieces, discontinued references with a collector following and anything from Patek Philippe or Richard Mille outside the rationed steel models. It does not describe a steel Rolex sports watch: a Submariner 126610LN, a GMT-Master II or a Daytona 126500LN sells to a dealer within days at a known band, so the cash offer is already close to the consignment result and the wait buys little. On 25 September 2026 Bizak's sourced catalogue listed the Daytona 126500LN from US$31,619 to US$39,600 and the Submariner 126610LN from US$13,484 to US$15,785, which is the kind of reference a dealer buys outright, against the Royal Oak 41 15510ST from US$53,560 to US$70,555 and the Aquanaut 5167A-001 at US$77,620, references where consignment often pays. Our how to sell a Rolex guide covers the cash route in detail.

How is the consignment price set?

The dealer proposes a listing price from recent sales of the same reference in the same set and condition, then agrees a minimum with you below which it will not sell without asking. The listing price is usually a little above the expected sale to leave room for negotiation, and a dealer that proposes a listing far above the market is either flattering you to win the consignment or planning to sit on the watch. Ask how the dealer arrived at the number and for the last two or three sales it is based on. The commission may be a flat percentage or a sliding scale, lower on expensive watches, and some dealers charge a minimum fee on watches under a threshold. Price reductions after a month or two are normal if there has been no interest, but every reduction should be agreed with you in writing rather than applied by the dealer. Our Rolex price guide and Audemars Piguet price guide show the dated asks a listing price is built from.

What should a consignment agreement contain?

• Identification. Brand, reference, serial, dial, bracelet, set contents and the condition grade recorded at intake, with photographs attached.
• Prices. The listing price, the minimum you will accept and the rule for offers below it.
• Commission and fees. The percentage or fee, any preparation, service or photography costs and who pays them, and what happens to those costs if you withdraw.
• Term and withdrawal. How long the consignment runs, how it renews and how you get the watch back, including who pays return shipping.
• Insurance. Confirmation that the watch is insured for its agreed value while in the dealer's custody and in transit, and who claims if it is lost.
• Payment terms. When you are paid after a sale, by what method, and whether payment waits for a buyer's return window.
• Title. A statement that title stays with you until sale and that the dealer will not lend, pledge or use the watch for any other purpose.

Consignment against auction: which realises more?

For most modern watches from Rolex, Audemars Piguet, Patek Philippe and Richard Mille, consignment through a specialist dealer realises more net than an auction, because the dealer's commission alone is usually below the combined seller's commission and buyer's premium of an auction house, because the buyer knows exactly what they are getting with a guarantee, and because there is no risk of an unsold lot. Auction earns its place for vintage and rare pieces with provenance, for complications where a global audience of bidders matters, and for watches whose value is uncertain enough that competitive bidding might exceed any dealer's estimate. The auction calendar also matters: a watch consigned in January may not be offered until May and settled until June. If your watch is a modern reference in good condition, consign or sell for cash; if it is a rare vintage piece, ask a specialist dealer and an auction house for estimates and compare the net.

What can go wrong with watch consignment?

The common problems are a dealer that lists too high and lets the watch sit, a dealer that sells below the agreed minimum and reports a lower price than the buyer paid, slow payment after a sale, and the rare case of a dealer that fails while holding consigned stock. Each is answered by the agreement and by choosing the dealer. Ask for the dealer's trading history and a reference from a previous consignor. Insist on a signed agreement with a minimum price. Ask to see the sale invoice when the watch sells so the reported price matches. Confirm insurance in writing. If a dealer resists any of these, take the watch elsewhere. Bizak & Co. operates from Harbour Club, 1766 Bay Road, Miami Beach, and every consignment is documented at intake and inspected under the same authentication process we apply to watches we buy.

Consignment checklist

• Confirm the reference and serial from the caseback and papers and photograph the watch before it leaves you.
• Gather the box, card, receipts, service papers, spare links and straps; a full set lists higher and sells faster.
• Get a cash offer as well as a consignment proposal from at least two dealers and compare the net.
• Agree the listing price, the minimum, the commission and the term in a signed agreement.
• Confirm insurance for the agreed value in custody and in transit.
• Do not polish or service the watch before consigning unless the dealer recommends it in writing.
• Ask for the sale invoice and the payment date when the watch sells.

Quick answers

What does it mean to consign a watch?

You leave the watch with a dealer who sells it on your behalf and pays you the sale price less an agreed commission once the buyer has paid. You keep ownership until the sale and can withdraw the watch within the agreement's terms.

How much commission do watch dealers charge for consignment?

Commonly 8 to 15 percent of the sale price, sometimes on a sliding scale that falls on more expensive watches, with a minimum fee on lower-value pieces. Preparation or service costs may be charged separately if agreed.

Is consignment better than selling a watch outright?

For gold, complicated, diamond-set or less common references, usually yes, because the cash offer sits well below the eventual sale. For steel Rolex sports models the cash offer is already close to the market and the wait buys little.

How long does it take to sell a watch on consignment?

Two weeks to three months is typical for a correctly priced modern reference; rare or expensive pieces can take longer. The agreement should state the term and how price reductions are agreed.

Is it safe to consign a watch?

Yes, with a written agreement naming the watch, minimum price, commission, term, insurance and payment terms, and a dealer with a trading history you can verify. Never hand over a watch without a signed intake document.

Consign or sell your watch with Bizak

Tell us the reference, serial, year, set and condition, with photographs of the dial, caseback and clasp, through our sell your watch page or the enquiry form, and we will reply with both a written cash offer and a consignment proposal so you can compare the net. The references we consign most often appear in our catalogue, sourced to order: Daytona 126500LN, Royal Oak 41 15510ST, Aquanaut 5167A-001; browse the pre-owned watches collection, the Daytona collection or the Royal Oak collection.

Related reading: How to sell a Rolex · Rolex price guide · Daytona 126500LN guide · Patek Philippe price guide.