Despite the increasing popularity of smartwatches, the luxury watch market is still strong. Pawnshops buy, sell, and pawn luxury watches like Rolex, Omega, and Patek Philippe every day. You may also be surprised that other brands like Fossil, G-Shock, or Invicta can also have value to a pawnbroker.
This raises the question, “How much will a pawn shop pay for my watch?” this article will help you understand how luxury watches are valued as well as steps that you can take to ensure that you get the most money when you take your item to the pawnshop.
How Do I Know How Much My Watch Is Worth?
Three of the most critical factors that impact your watch’s value are:
- Brand recognition
- Condition and craftsmanship
- Market demand
Brand recognition and craftsmanship are essential considerations for watchmakers like Audemars Piguet, Rolex, or Cartier. Market demand helps more affordable brands like Victorinox, Citizen, or Movado.
Depending on whether you are selling the watch outright or using it as collateral against a loan, the pawnbroker will consider these things when making an offer to you.
How can I make sure I get the most money for my watch at a pawn shop?
First, it’s important to work with a reputable pawnshop with proven expertise in authenticating and assessing luxury timepieces.
Don’t be afraid to ask questions or check out the pawnbroker’s reviews.
When you bring in your watch, make sure that it is in clean condition. While we do not recommend that you attempt to service your own watch, make sure that, at a minimum, it has been wiped free of dust and debris with a clean, soft, lint-free cloth.
It is helpful to bring along any boxes, papers, receipts of purchase, or other documentation.
Finally, if you have accessories for your watch, make sure that you bring them along as well.
The process of either selling or pawning your watch is fast, simple, and confidential. Pawn loans require no credit check and do not impact your credit history.
