You can expect a good amount of money for your luxury watch. Popular brands like Omega, Movado, Rado, and Breitling can easily fetch $500 at a pawn shop. Other high-end brands like Hublot, Rolex, IWC, Panerai and Ulysse Nardin can easily fetch well over a thousand dollars.
Despite the increasing popularity of smartwatches, the luxury watch market is still strong. Pawn shops buy, sell and pawn luxury watches such as Rolex, Omega and Patek Philippe on a daily basis. You might also be surprised that other brands like Fossil, G-Shock or Invicta can also have value for a pawnbroker.
Think of pawning your watch as a form of loan rather than a traditional sale. If you bring an item of value to a pawn shop, your item will be valued based on its estimated used value.
A pawn shop is where you leave your belongings. The most commonly pawned items are jewellery, electronic and photographic equipment, musical instruments and firearms. In return, the pawnbroker will typically loan you about 25% to 60% of the item’s resale value. The average pawn shop loan size is around $75 to $100.
Jewelry and gold are always popular items that pawn shops almost always buy. Depending on what you own, you might get $100, $1,000 or more for your jewelry, coins, gems, or scrap metal or silver. A gun, some power tools, a lawn mower, or a good quality stereo or working laptop can fetch $100 or more.
Make the most money by selling or pawning your items
You can often get more money for your item by selling it. However, with a pawn loan, you can get the money you need and still keep your item. Go online and find out what your item could be worth.
Based on available 2020 data from PawnGuru transaction inquiries, this is what pawnbrokers pay on average for watches: Average watch offer: $288. Minimum watch offer: $5. b>
You can pawn a variety of items, including electronics, guns, watches, and jewelry. If you want to sell your watch at the pawn shop, there are certain strategies you can use to increase the amount of money you get for it. Below are tips for selling your watch at a pawn shop.
How do you determine the value of the item? Pawnshops measure the value of the item based on the current appraised value, the current condition and the saleability of the item. Pawnbrokers use research tools at their disposal to determine the value of an item and get you the most money for the item.
Pawnbrokers will not typically accept items that are clearly replica (e.g. fake designer purses). They also typically do not accept clothing or books unless they are very valuable, such as a coin. B. a first edition or a signed copy of a popular book. Items should be fully functional when you bring them to the deposit.
Some people think it’s better to sell an item because they think you’ll get more money for it than if you pawned it. Others believe just the opposite. The simple truth is there is no general rule that selling or pawning your valuables will get you more money.
Never take the first offer (at first)
There is usually more money on the table. Sometimes the first offer really is the best offer. Many pawnbrokers will get straight to the point with you. Especially with pawn shops that are part of larger corporate chains.