Just for comparison, a used 114060 in australia is around AU$8200-9000. I went to a used watch dealer and asked how much would they take mine for a trade in, they said AU$5-5.5k
Private would be around 8-8.5k, used watch dealers are selling it around 8.9-9.2k. Actually I bought mine from a WUS member for 8k, had it for 13 months now if I sell it I could get my money back.Considering that the RRP of a new Rolex Submariner 114060 is AUD$9,450.00 (or has it gone up now?), a used (presumably in excellent condition) Submariner sells for around AUD$8,200.00-AUD$9,000.00, I would say that the resale is incredible!
If I were to sell mine privately (and mine is like new, even though I have had mine for nearly 15 months now), I would be happy with AUD$8,000.00 privately.
I understand that businesses will have to make a profit, so AUD$5,000.00-ish is understandable. I am sure that a deal could be struck for a little shy of AUD$6,000.00, but I wouldn't do that deal personally.
It all depends on what the dealer is doing with your watch. Are they selling it themselves? Do they have an external contact that is buying and selling trades?Businesses are in the business to make a profit, so it is understandable that they will not be able to offer a customer anywhere near what their Watches are worth privately.