Luxury watches are popular items at pawn shops. Whether you’re looking to sell the Breitling that you replaced with an Apple Watch, or you’re looking to get cash for a financial emergency, pawn shops will be happy to pay for your luxury watch.
For those with sentimental value attached to their watches and a financial emergency, you may prefer to pawn your watch. For everyone else, you might sell it outright. Pawn shops will work with you either way. Over 90% of people get their pawned items back. For those of you unfamiliar, a pawn is a cash loan made against the value of an item. The pawn shop holds your item until you’ve repaid the loan with interest. Most pawn shops would rather you not lose items with sentimental value, so they’ll show flexibility if you are at risk of missing a payment– as long as you communicate with them.
Valuing watches is extremely complicated. However, here is a quick rundown of what shops will be looking for when they give a price offer.
Is your watch an antique? Antique watches are worth considerably more than modern watches. If your watch is a collector’s item it is significantly more valuable than a watch made last year right off the factory floor.
Look for the symmetry and design. On the best watches, every single line and dash is perfectly crafted. Look for the details. The mark of a good watch is in the details of its look.
Look at the watch and see if it reads “Automatic”, “Manual”, or “Quartz”. Quartz watches are electrically wound, manual watches are manually wound, and automatic watches take the movements of your body and wind the watch without you even having to touch it. Automatic watches are generally worth more than manual or quartz, though there are obviously exceptions.
Is the watch made from “Synthetic Sapphire”? The looking glass on the top of the watch is called the “crystal” of the watch. If it is made from synthetic sapphire, it is scratch resistant and worth more than if it was made from standard crystal.
If the case and strap is made of solid metal or leather it is worth more. If your watch is made out of precious metals it is worth more than if it was made from stainless steel.
If the bracelet of your watch is held together with screws instead of pins then it is worth more.
If there are any gemstones in your watch, it is worth considerably more. Furthermore, only the best quality watches put gemstones in the watch, so it speaks well about the engineering quality.
Does your watch have reflective coating? Take your watch into the sun and see if it reflects sunlight, if you can still easily read the time in the blaring sun, your watch is worth more.
Does your watch have complications? If your watch has other dials besides time, like a pressure gauge for going under water, or an altitude meter for flying, it is worth more.
Does your watch have a high quality name-brand? Seiko, Citizen, Tissot, Gucci, Rado, Tag Heuer, Omega, Breitling, Rolex, Patel Phillippe are worth more.
Does your watch have a 'Chronometer rating'? That means your watch has been independently quality tested to show that it can tell time.
If your watch was crafted in Switzerland, Germany, or Japan it is worth more.
Finally, please research your specific watch. Research will give you a good idea of the market rate. However, please understand that pawn shops are reselling agents and need to make a profit on merchandise. You probably won’t get a market rate for your luxury watch.
Common types of luxury watches pawn shops accept are Michael Kors, Rolex, Tag Heuer, Breitling, Omega, Movado, Invicta, Raymond Weil, Citizen, and Cartier.
If the watch can be repaired to work, yes. The watch itself still has value. If the watch still looks good, it could be repaired to work properly and function like a brand new watch.
Bring your watch in with the original packaging and any accessory items that came with it. Be careful when you clean it, do not rub it or scratch it with any items. You might take off a plating finish from the precious metal. If you are worried that you might damage your watch while cleaning it, you can take it into a professional cleaner.