With the host of guilty pleasure TV shows documenting the human drama that plays out in America's pawnshops, it's safe to say their popularity, and reputation has never been higher. What was once seen as the shady arm of commerce is now becoming an increasingly accepted form of business. But while the negative stereotypes associated with pawnshops might be receding, are they now a viable option for selling your beloved Rolex
Where pawnshops hold a big advantage over selling your Rolex outright with an online retailer or a bricks-and-mortar jeweler is the ability to use your watch as collateral for a short-term loan. This was always the original function of traditional pawnshops. If you needed money quickly but only for a short period, you could take in something of value, borrow against it and then, when you were able, pay back the loan and get your item back.
There are a number of reasons why Rolex owners may be tempted to sell their timepiece to a pawn shop. It may be, for example, that you desperately need cash and feel it is the quickest option. Alternatively, perhaps you do not have the box and papers any more and feel a pawn shop is your best hope of actually selling it at all.
The sale of Rolex watches to pawn shops is becoming more common and while the thought process behind this is understandable, it is actually very unlikely to be the best option available. In this article, we take a look at four of the most important reasons why you should never sell your Rolex, or any other luxury watch, to a pawn shop.
The first and perhaps most obvious reason why selling a Rolex to a pawn shop is a bad idea is because you are extremely unlikely to get anything close to the true value of your watch. While pawn shops do offer an element of convenience, this is not sufficient to make up for the sheer amount of money you will miss out on.
It is important to understand that pawn shops make money by buying items from customers at extremely low prices and then selling them for significantly more than they bought them for. While some shops will offer better prices than others, this core business model is the way all pawn shops survive and actually make money.
The next reason why you should avoid pawn shops wherever possible is because pawn shops tend to deal in a huge range of different items, making them a Jack of all trades. As a result of this, they do not have the kind of specialist knowledge required to accurately assess luxury Rolex timepieces.
While most decent pawn shops will have a basic understanding of what makes one watch more valuable than another, such as the condition it is in, or the materials the timepiece is made from, they may be less aware of some of the more subtle elements related to rare, special edition and other highly sought after model types.
Again, this may seem like a tempting offer, especially if you feel you no longer want your Rolex anyway. However, loans like this, provided by pawn shops, almost always come with extremely high interest rates. While exact rates can vary, it is not uncommon to see 120 percent APR, or even higher.
Finally, it is important to emphasize that despite pawn shops providing a swift service and seeming relatively hassle-free and convenient, there are simply better options out there. This applies to anyone looking to sell any luxury watch, but especially when selling a Rolex watch that is potentially still worth thousands.
Crucially, by selling to a company like Jaztime, which actually specializes in Rolex and other luxury watches on a day-to-day basis, you can be sure you are selling to a company that understands the true value of the watch. As a result, you will receive more money and know that your watch is going to be given the respect it deserves.
If you are in desperate need of cash and have a Rolex watch that you no longer want, the temptation to go to a pawn shop for easy money is understandable. However, it is imperative that you understand that doing so will result in you receiving far less than your watch is actually worth, even from the very best pawn shops.
However, it is still up to buyers to do due diligence when shopping for a Rolex watch. Here are some ways to ensure that you are buying an authentic Rolex watch in top condition at your local pawnshop:
Diamond Banc offers The HIGHEST ROLEX LOAN VALUES IN THE NATION, reflecting current market values, in a pro-borrower lending structure that ensures you are able to repay your loan and retrieve your Rolex. In contrast, the typical pawn shop, Diamond Banc, wants to loan you the most money possible against your Rolex watch and truly works with you to make sure it is returned to you.
Are you considering borrowing money against, or pawning your Rolex Diamond Banc offers the highest loan or pawn amounts secured by Rolex watches in the nation. Put simply, Diamond Banc will loan you more money, at a lower cost and with easier repayment terms than a traditional pawn shop. We store your valuable Rolex With great care and are insured during your loan term. At Diamond Banc, you can pawn or borrow against your Rolex without visiting a pawnshop. You can overnight your Rolex to our headquarters and receive loan proceeds the next day, or visit our luxury, private office locations for same-day, simple and confidential funding.
Diamond Banc provides loans secured by one Rolex or an entire Rolex collection. Our Rolex secured loans typically range in value from $3,500-$250K. We work with you to create a simple loan structure that best fits your needs, opposite to the archaic traditional Rolex pawn loan structure provided by traditional pawn shops.
Typical pawn shops simply do not possess the capital, nor industry knowledge to provide the high loan & pawn values on Rolex watches That Diamond Banc does. We are the premier jewelry buyer and lender in the nation, owned by jewelers who truly know the value of Rolex watches.
In virtually every case We will LOAN YOU 25%-100% MORE against your Rolex than an average pawn shop. Diamond Banc is a huge nationwide Rolex buyer and seller. We participate in the market daily and fully appreciate the value of your Rolex. Typical pawn shops have a tough job, they must know a little bit about the second-hand value of lots of item types. Diamond Banc focuses on being the best in one space, high-end jewelry, and watches.
Pawn shops typically loan very convertibly to protect themselves from markets in which they are not an expert. Often pawnshops rely on selling Rolex watches from loans not redeemed to customers who walk through their door. These clients often are not willing to pay what the watches will quickly sell for in other marketplaces.
Pawn shops who loan on everything from Rolex watches to guitars, simply can not dive deep into any one area from a capital ability, or loan value appreciation perspective. Diamond Banc is the best in the nation with a specialized focus on Rolex Watches, fine watches, diamonds, gold, and fine jewelry. We know our business and know we loan the most. Diamond Banc offers The HIGHEST ROLEX LOAN VALUES IN THE NATION.
If you have a Rolex or another luxury watch that you want to pawn or use as collateral for a loan, call Diamond Banc at 1-573-875-2265, visit our website, or visit one of our private luxury offices in the following markets.
People like to invest their money in all sorts of different things. Some invest in properties, some are into fine jewelry and gold, and others invest in luxury items like Rolex watches. There is no doubt that Rolex is one of the most famous and expensive luxury watches in the world.
Pawn USA Woodbridge is the number #1 watch buyer in Northern VA and its surrounding areas. We have been serving clients, pawning, buying and selling jewelry and other luxury items, for more than 29 years already. We also do business with other luxury watches, but Pawn USA specializes in Rolex watches.
One of the best things about buying a Rolex from us is that you will be saving a huge amount of money. Depending on the exact model of the watch you are looking to purchase, you will be saving hundreds or thousands of dollars compared to purchasing the watch brand new. Due to our select buying process, all of our Rolex watches are going to be in great condition so you can enjoy it for many years to come.
When you come into our showroom you can quickly look through the selection of Rolex watches we have for sale. Once you find the one you like, our watch selling professionals will help to make sure it is the right one for you, and then ring you up. There is no need to wait for the watch to be special ordered or anything like that since we keep our inventory in the best possible condition.
One final tip for buying a Rolex is to consider trading in your older watch. We accept most top brands of watches, and can pay you a significant amount of money for it. This means you can potentially have even more money available to buy your Rolex at our Long Island pawn shop.
Not many pawn shops have genuine Rolex watches in-store, but purchasing one of these high-end watches from this type of business can be a good idea with some customer discretion. Customers need to ensure that the Rolex is genuine before making the purchase.
Buying a Rolex at a pawn shop can be a good idea, but it comes down to how diligent the purchaser is. There are definitely some tips and tricks to finding a genuine Rolex from a pawn shop, so take a look at the advice for finding one of these luxurious watches for a much lower cost.
Genuine Rolex watches are extremely high-in-demand yet rare, which is why they come with such a hefty price tag. However, just like anything else that is luxurious and sought after, there are many different knock-offs and dupes. According to Business Insider, Rolex watches are the most counterfeited watch brands. So, how can you ensure that you are getting the real thing from a pawn shop
When it comes to counterfeit Rolexes, some dupes are hard to decipher between a real Rolex and a fake one, while other watches are blatantly ingenuine. When looking for the specific model that you want, be sure to do some research before purchasing the watch from a pawn shop. There are various models, such as the classic Cellini, the graceful Lady-Datejust, and many more. 59ce067264