February 15, 2020 - Jewelry & Luxury Items
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.
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.
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.
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!
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 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