Our auctions are designed to provide the best experience for sellers and buyers.
The auction process starts with sellers submitting their watches through the website. We select the most interesting and work with the seller to compile a detailed listing for the watch. Auctions typically run for 7-days. To ensure you can buy and sell with confidence, we authenticate, verify the condition of every watch and provide escrow services, all at no additional cost.
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What makes us different?
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What makes us safe?
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How do I submit a watch?
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How do live auctions work?
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How does bidding work?
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What is the post-auction process?
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What are the buyer and seller fees?
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What is the Live Streaming feature on Grailzee?
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How does authentication work?
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What happens if the reserve isn't met?
What makes us different?
We represent each watch honestly with objective listings and detailed photo galleries.
Each seller is provided with an Auction Expert, a dedicated contact during the creation and live auction process.
Comment threads let buyers and sellers communicate transparently and constructively about the watch.
Snipe protection extends the auction by 1 minute giving everyone an opportunity to place their max bid in the final seconds.
Free and secure escrow service ensures buyers get what they pay for and sellers get paid.
Free authentication and condition reports give buyers confidence and bring sellers top dollar.
After an auction closes, the buyer sends us proof of funds, and the seller sends the watch to a 100% insured and secure 3rd party authentication center. Once the watch checks out and is being held in escrow, the buyer wires funds to the seller, after which the watch is shipped to the buyer (the seller pays for shipping to the authentication center & the buyer pays for shipping from the authentication center). This process and authentication is required on every transaction.
Why is buying a watch with Grailzee safe?
Grailzee's process is the safest and most secure way to purchase a watch online. Grailzee inspects and holds the watch in escrow before you pay the seller. A team of expert watch makers at our authentication center inspect the watch to confirm it was accurately represented in the listing in terms of authenticity, condition and included accessories. Once the inspection is complete, you will receive a report detailing their findings. After receiving the report, you have up to 2 business days to request additional information before you wire the seller for the watch. The watch is held in escrow to ensure you 100% receive the watch. There is no safer way to buy watches online!
How do I submit a watch?
All submissions are done from the
Classic
Free to List
$49 when it sells*
The best place to sell a collector watch. You only pay if your item sells. No other fees.
How it works
- 1 Submit your watch+
- 2 We draft the listing for your approval
- 3 Your listing goes live
- 4 Buyer sends us proof of funds
- 5 Ship the watch to the authentication center for inspection & to be held in escrow until you receive payment.**
- 6 Buyer wires you funds
- 7 Watch is released to buyer++
White Glove
Inquire
Designed for sellers with large watch collections. Our dedicated team of experts will assist with photography and submission of your watches.
How it works
- 1 You submit your collection of watches
- 2 We handle the rest
- + We will review your submission to ensure it's a good fit for our audience.
- * Adding features to your auction may increase the price. You are only charged if your item sells
- ** We will send you shipping and packaging instructions so your watch is 100% insured.
- ++ The watch is kept in the vault until you confirm receipt of funds.
After choosing a service level, sellers answer questions on the submission form and upload photos so our
auctions team can evaluate if it’s a good fit for our audience.
If a watch is accepted, the seller pays the listing fee, and we work with the seller to gather all necessary
information (including photos, paperwork, and service documentation).
With the information and photos provided by the seller, our Auction Specialists craft an honest and
informative
listing for the watch.
How do live auctions work?
Every auction goes live with an informational listing, photo gallery, and additional seller features that help ensure a great result.
• Each auction has a comment thread where our community discusses the watch and asks the seller questions.
• Sellers are encouraged to participate actively in the comments section by answering questions and engaging
with the community to increase bidder confidence.
• Potential bidders can use the Contact Seller button to ask the seller questions or schedule a viewing.
• Each seller can lower their reserve while the auction is live.
How Bidding Works
You must
• A credit card hold verifies all bids to ensure the commitment of potential buyers. When a bid is placed,
we
place a hold on the credit card on file for 5% of the bid amount. When the auction closes, the hold is
released for all bidders who didn’t win the watch.
• Sniping protection extends the auction clock by one minute each time a bid is placed in the auction’s
final
moments. The auction won't end until one full minute has passed without any new bids after the last bid was
placed.
• We encourage all potential bidders to read the listing and review the entirety of the comment section
before
placing a bid. It is important that bidders do their due diligence to understand all the details of the
watch
and insights offered by members of the community.
The Post-Auction Process
If the auction reserve is met when the listing ends (or the auction has no reserve), the winning bidder sends proof of funds to initiate the shipping of the watch to the authentication center. After the watch is authenticated, funds are wired to the seller, and finally, the watch is released to the buyer with 100% insurance coverage.
If the auction reserve is not met when the listing ends, we will attempt to work out a deal between the seller and the highest bidder.
The escrow service covers 14 days after the seller has confirmed payment. If an option is not selected by day 15, the authentication center will begin charging a storage monthly fee of $25 USD to the credit card on file until shipping is completed.
For Premium Submissions, the escrow service covers the professional storage of the watch for a 60 day period after the watch has been authenticated. If the watch does not sell within that 60 day period, the authentication center will begin charging a monthly storage fee of $25 USD to the credit card on file until the watch is sold or shipped back.
How Our Fees Work
Sellers pay a $99 listing fee, with the option to upgrade to premium for an
additional $400. There are no other seller fees...
Buyers pay a 5% fee on top of the final sale price to us, with a minimum of $250, and capped
at
$5,000.
Still curious about something?
We have the answers to most common questions in our Frequently Asked Questions
How Authentication Works
Our authentication process is done by one of the third-party authentication centers, ensuring that every watch is as described in the listing. This includes authenticity, condition, and included accessories. Once authentication is complete, they send you a report so you can buy with confidence.
Our closing process is designed specifically for luxury watches. It guarantees both the seller and the buyer a secure sales process.
• The buyer sends us proof of funds.
• Once the funds are validated, the seller is notified.
• The seller ships the watch insured for its full value to a third-party secure authentication center.
• Once the watch is authenticated and confirmed to match the listing, the buyer will wire the seller the
funds, after which the authentication center ships the watch insured for its full value to the buyer.
What is the Live Streaming feature on Grailzee?
The Live Stream feature lets sellers go live during the final minutes of their auction, giving them the chance to showcase their watch in real time, answer buyer questions, and build confidence among bidders. To start a live stream, simply click “Start Live Stream” in your My Listings section once your auction enters its final phase.
This feature is exclusive to Grailzee Pro Sellers.
If you’re not yet a Pro Seller and would like to access live streaming, please contact us at [email protected] to begin the setup
process.
What happens if the reserve is not met?
First, we try and negotiate a deal with the high bidder. If that is not successful, the watch is added to our Last Chance Offers page, where prospective buyers can submit an offer directly to the seller and get a reply within 24 hours (usually much faster). These offers are binding and cannot be canceled. If the seller accepts and you do not complete the transaction, the service fee & your Grailzee account will be forfeited the same as if you did not complete a finished auction.