One of the most common items you can find at almost any pawn shop is a watch. Luxury watches, like jewelry, are often high-value items even when used. For that reason, they are frequently sold to pawn shops. Additionally, people will use them as collateral to secure a pawn loan. In this guide, we will discuss what you need to know when buying or selling watches at a local pawn shop. If you are in the NYC area, our pawn shops in the Bronx frequently carry luxury watches, jewelry, and other high-value items. Feel free to visit our online store, call one of our shops, or come to our shops in person for more information.
Advice For Watch Buyers at Pawn Shops
First and foremost, you want to make sure you select the right pawn shops in your area. Every shop is different, which means a different inventory, especially when it comes to different categories. While watches and jewelry are often mainstays of the pawn shop industry, it is not always a guarantee that your local pawn shop will have the piece you are looking for. There is no issue in calling ahead and asking about the inventory a pawn shop has to potentially save yourself a trip.
In a similar vein, you should also be aware of inventory changes. If you have a pawn shop you like going to in your area, you should periodically check in either in person, online, or over the phone to see if they have any new watches you might be interested in. Pawn shops are constantly shifting their inventory based on what is being sold to them.
How To Sell Or Pawn Your Watch
As we often discuss, there is a clear difference between pawning and selling. Pawning an item is a way to get a loan where the item is used as collateral. Because the item is simply collateral, you are given less than what you would get if you outright sold the item. This is simply something the pawn shop holds on to until you have finished paying off your loan. Always make sure to discuss that process and the timeline with the pawn shop so that you can get your watch back. For selling a watch, it is important to understand that pawn shops will have preferences on the brands and obviously the condition. Brands like Rolex are often in demand because they provide reliable, high-end watches. Of course, pawn shops are going to appraise anything you want to sell them to make sure that the item is genuine and can be resold effectively.
Buy, Sell, and Pawn Watches in NYC
Paradise Pawn has two shops in the Bronx where people can buy, sell, and pawn a variety of items. If you are interested in learning more about our inventory or visiting us in person, please give us a call.
