How to Pawn a Rolex Watch

February 15, 2020 - Jewelry & Luxury Items

Want to learn how to pawn a Rolex watch?

It is common to walk into a pawn shop and see Rolex watches on display. Pawn shops love to buy these watches because they retain a large portion of their retail value.

This means that when you pawn a Rolex watch, you have an advantage because the watch didn’t lose a large portion of the original price you paid for it in a retail shop. Rolex watches are always in demand, so pawn brokers can justify the purchase of your old Rolex.

It would be difficult for you to find a pawn shop that doesn’t allow you to pawn a Rolex watch.

While there are indeed some niche pawn shops that don’t deal with jewelry, you won’t have much trouble getting cash in hand for your Rolex watch at a pawn shop today—literally. You could walk into one right now and receive money immediately.

Before we jump the gun, read the pointers below for how to pawn a Rolex watch for the most money possible. We will help you make sure your Rolex watch is highly presentable to get you the best price for your watch.

How to Pawn a Rolex Watch for the Best Price

Clean your Rolex Watch

Bringing a clean watch to a pawn shop will make it appear newer and well-cared-for. This communicates to the pawn shop that it also likely functions well. This could result in a higher appraisal than if you hadn’t cleaned it.

Clean your Rolex watch with a non-abrasive cleaning solution meant for cleaning jewelry. If you’re unsure if your cleaning products will damage your watch, the safest way to clean it is by using a paper towel dampened with warm water. Run it over the surface of your watch, paying close attention to extra dirty spots. Don’t neglect the crevices of your band.

Find the Original Packaging

Do you have the original box and paperwork that came with the watch? When you go to pawn your Rolex, you’ll want to bring this if you still have it. The reason is that this will allow the pawn broker to put together a better presentation of the watch for the end customer (if it comes down to them selling it). This helps prove the legitimacy of the watch, too.

You might get a higher appraisal than if you didn’t bring these components.

Check for Missing Pieces

Is your Rolex watch missing any pieces such as precious stones or extra links? If you suspect that you still have these somewhere in your home, search for them. You’ll want to put these into a well-sealed ziplock bag and bring them along to the pawn shop. This is for the same reasons we listed above!

How to Pawn a Rolex Watch: Step-by-Step Instructions

  1. List your Rolex watch on PawnGuru—it’s free and only takes a few minutes!
  2. Watch the offers roll in from multiple pawn shows in your area that are interested
  3. Accept the highest offer
  4. Bring your clean watch and its components into the pawn shop that made the best offer
  5. Get an appraisal for your watch from the pawnbroker
  6. Discuss the terms of the cash loan, such as fees and payback date
  7. Accept the offer if you agree to it
  8. Take the receipt from the pawnbroker with cash in hand
  9. Come back to the pawn shop before the payback date to pay back the loan
  10. Get your watch back

If you were looking to outright sell your watch, you would just part ways with your Rolex permanently and take the cash in hand.

David Stiebel

David Stiebel is one of the cofounders of PawnGuru. David was educated at MIT, where he studied Math. He subsequently worked at Bain as a data scientist before starting PawnGuru in 2015. He started PawnGuru to build a better tool for pawn shops and consumers to connect.

More Articles


Comments are now disabled