January 30, 2020 - Jewelry & Luxury Items
Have you thought about selling a watch, especially a Fossil watch? Then you need to get the best price. Do you know how much it’s worth, or that you can get cash by selling or pawning it?
Maybe you’re looking for a pawn shop near you? Don’t delay, keep reading to find out all about Fossil watches and if you should sell it yourself or go to a shop.
If you’ve ever considered pawning or selling used Fossil watches, here’s everything you need to know.
You may be curious as to how a pawn shop works. There are two options that pawn shops usually give. You can get a loan based on the amount of your watch. You’ll need to leave the watch with the shop as collateral.
When you pay the loan back, the shop returns your watch to you.
Alternatively, you can sell the watch yourself, you get the money, and don’t have to pay anything back.
Different pawn shops will pay different prices, and not all take Fossil watches. The brand is a good one, but the value is relatively low compared to something like a Rolex.
Most watches go for an average of $200. However, for a Fossil watch, you’re likely to get around $25.
If you are ready to sell or pawn the watch, get the model number off the back. Most pawn shops will ask for this.
The amount a pawn shop will give you for your watch varies according to three things.
Number one is the condition. If your watch needs cleaning or repair, do it now. If you still have the manual or packaging, these can increase the value.
Number two is the possibility that the shop can resell it and how much they’ll get. The pawn shop will look to see the current market value of your watch.
Vintage watches sell for more, so if you have a watch that’s older, it could be valuable.
Number three is, do people want to buy it? The shop has to resell the watch if you don’t pay the loan back. They need to know the demand is there and another person is likely to want to buy the watch from them.
Hopefully, this article has helped you feel confident that you can sell or pawn your watch.
It’s likely that the pawn shops closest to you buy watches. The only question is, are they interested in Fossil watches in particular. Your chances of getting money are high since Fossil is a popular brand.
There’s an easy way to see how much you can get for those used Fossil watches. Just list it on our site. If you’d rather go into a pawn shop, we also list the closest pawn shop to you.
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