February 19, 2020 - Jewelry & Luxury Items
Maybe it’s a G-Shock or a Fossil watch. Will a pawn shop give you a fair offer for it? The answer is yes. There is a huge market for those type of watches that are a step below the higher end watches, and pawn shops know that. If you have a watch you would like to pawn or sell, we recommend you post it on PawnGuru. But before you do that, here are a few tips on how to get high offers.
Clean and evaluate the condition of the watch. Test for functionality and damages. If you’re going to pawn or sell your watch to a pawn shop, you’ll want to make sure that your watch works perfectly and that their are little to no major cosmetic issues to your watch. Pawn shops aren’t interested in watches a step below higher end watches that will cost them money to sell because it’s not profitable.
Cleaning a watch is a very delicate process. Sometimes polishing or using cleaning agents on your watch can hurt the look of the watch which then hurts it’s value. I always recommend wiping away any dirt or dust with a paper towel and water. If polishing is needed, let that be the pawn shops problem.
If you have the box and papers that came with the watch, it will help your case in getting the highest offer possible. Pawn shops love the total package. If you bring them the watch and the box it came with it, that will encourage them to give you a great offer on your watch.
Although it might sound trivial, collecting any tags, warranty or original piece of paper that came with your watch actually makes it look more legitimate to the pawnbroker. This, in turn, will allow them to feel more confident in selling your watch to another customer. Don’t underestimate the power of perceived value!
Do you recall taking out a link from your watch to make it fit better or storing away extra links that came with the watch? Did any stones fall out of the watch head? If so, check your drawers to see if you still have them. When it comes to pawning a watch or any other used item, completeness will improve the perceived value of the set and can result in a higher pay out.
Bring these to the pawn shop in a sealed ziplock bag so that the pawnbroker can include these in their sale of the watch to a future customer.
If you’re asking “how much do pawn shops pay for watches” and you want the latest data based on actual pawn shop offers from 2020, you came to the right place.
Based on the available 2020 data from PawnGuru transaction requests, here is how much pawn shops pay for watches on average:
There is a huge variance between the minimum and maximum watch offers because there are so many different types of watches that people pawn or sell to pawn shops. High-end, luxury watches will sell for a lot more than lower-end watches.
We’ll get more specific on how much pawn shops pay for specific types of watches included in those numbers, below.
The average price pawn shops paid for a Rolex watch in 2020 was $2805.01.
On average, pawn shops paid $29.16 for a Fossil watch in 2020.
The average price that pawn shops paid for Movado watch in 2020 was $92.39.
Pawn shops paid an average of $255.24 dollars for a TAG Heuer watch in 2020.
In 2020, pawn shops bought Casio watches for an average of $23.
Seiko watches were sold to pawn shops for $80 on average in 2020.
Shinola watches were bought for $163.51 on average in 2020 by pawn shops.
In 2020, pawn shops paid an average of $1325 for Breitling watches.
Chopard watches were sold to pawn shops for an average of $1500 in 2020.
The average price that pawn shops paid for a Panerai watch in 2020 was $4500
The best place to sell used watches with as little effort and time investment on your part is at a pawn shop near you.
The people who work at pawn shops are professionals with years of experience pricing used valuables. This means that when you bring your watch to a pawn shop, you deal with someone who can give you a fair offer for your watch.
As opposed to dealing directly with individual buyers in your community on forum sites such as Craigslist, you are likely to get a better deal at a pawn shop.
Aside from getting a good offer, another benefit of selling your watch at a pawn shop is that you’ll get same day cash-in-hand for it. Pawn shops not only allow their customers to “pawn” watches using them as collateral for a loan, but they also allow you to sell your watch outright.
Given the fact that you most likely have more than one pawn shop in your local area, let’s talk about how to know where to sell used watches for the most money possible.
Historically, it’s been difficult to know where to sell used watches in order to get the most amount of money. It’s also important to know that if there’s a wide array of pawn shops in your city, several of these are likely pawn shops that specialize in a certain category of items.
For instance, some pawn shops focus on jewelry, some focus on sporting equipment, and others focus on electronics. Lucky for you, it is very common for pawn shops to take jewelry— including watches.
To sell used watches for the most money possible, we recommend using PawnGuru.
At PawnGuru, you can sell used watches through our online platform where pawn shops in your local area are looking for jewelry like yours to bid on.
When you create a free listing on PawnGuru, you describe the watch, upload a photo of it in good lighting and add your contact details to the listing. Next, PawnGuru sends that information directly to pawn shops near you.
You can rest assured that your contact details are only made available to the pawn shop.
What happens next is individual pawn shops can indicate whether or not they are interested in your watch and how much they will offer you in cash. When you list your watch on PawnGuru, offers can start rolling in pretty quickly, and sometimes almost immediately!
Using PawnGuru accomplishes two things, which save you time, money and research:
Here’s how to sell your used watch through PawnGuru:
Now that you know where to sell used watches for cash, you might be interested in selling other used items at a pawn shop. We suggest you read the related resources below to help you in your pawn shop endeavors. Enjoy!
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