Since 1905, the Rolex line of watches has been synonymous with luxury. And it’s no wonder – in addition to manufacturing all their components themselves, Rolex watches feature immaculate attention to detail at every step of the process, in addition to using precious materials like gold and gemstones.
For watch lovers and collectors all over the world, a Rolex is a dream acquisition. However, the average price tag of a Rolex puts it out of reach for many. The price for an entry-level Rolex is around 5K, with the most popular designs fetching about 8-12K. As a result, most have given up on ever owning a Rolex watch.
Thankfully, however, we’re here to help. At Azusa Pawn, our goal is to help our community get the items of their dreams at a price that works for everyone. We’re here to say that smart collectors should look to their local pawnshop to find the Rolex they’ve been looking for, with a price lower than they would ever expect to see. Keep reading to find our guide to buying, selling, or pawning a Rolex watch at your local pawnshop:
Buying a Rolex watch
Your local pawn shop is a great place to save money on all kinds of goods, from electronics to jewelry. Rolex watches are no exception! Buying a Rolex from your local pawnbroker means avoiding the retail mark-up that you’d find at big-box retailers or jewelry stores, as well as not having to deal with the uncertainties of buying online.
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:
- Decide on the model you want – Rolex watches come in various designs, from the classic Submariners to the daring newer models. No two watches are the same, but each is a magnificent work of innovation, science, and art. Before you shop, research the kind of model that best fits you and your lifestyle. This will help you stay focused in your search.
- Knowing how to spot a fake spotting a Rolex watch is getting increasingly difficult, thanks to sophisticated knockoffs flooding the market. But there are still some tell-tale signs that will alert you to run the other way:
- Ticking: there are a small handful of Rolex models that audibly ticked, but for the most part, genuine Rolex watches do not tick.
- Weight: thanks to the genuine luxury materials used in every Rolex, a genuine article will feel heavy and have a distinctive heft.
- Serial Number: Rolex puts as much detail into their serial number stamps as the rest of the watch; if you see sloppy engraving, you’re dealing with a fake.
- Price: although you will get a fantastic price at your local pawn shop if you encounter an alleged Rolex at a price too good to be true, it probably is. Expect to pay for quality but know where to draw the line.
- Do your homework – before you visit your local pawnshop to look for your Rolex watch, research the current market value for the model that you want. You can get an idea of the current value by analyzing recent sales online. This information will give you an idea of your budget and help you recognize a fair price when you see it.
Selling your Rolex watch
If it is time to say goodbye to your Rolex Watch, you have many options of places and methods to sell it. And many sites and jewelers will be happy to take your watch off your hands. However, before you post it online, on a person-to-person sales app, or venture into your local jeweler’s, you should consider selling it to your neighborhood pawn shop.
Selling your Rolex watch at a pawn shop will take all the headache out of trying to sell it through other methods. There’s simply no easier or faster way. You will get cash in hand in minutes—no waiting for payments to clear or dealing with low-ball offers from demanding buyers.
Here’s how to get the most for your Rolex watch at your local pawnshop:
- Gather up any original packaging and certification – you will command a higher price if you can offer your pawnbroker the original box and paperwork.
- Do your homework – look up completed sales or auctions for your model of Rolex watch. This will give you an idea of how much you can expect. However, keep in mind that your local pawn shop is a business, and therefore must profit on everything they sell. Expect around 40-60% of the current value.
- Clean it up – show off the full magnificence of your Rolex by safely cleaning it up. Bringing your pawnbroker a clean watch will make it more attractive and easier to sell.
Pawning your Rolex watch
Your Rolex watch can be a lifeline when you need a safe and confidential cash loan. Pawn loans are smart alternatives to other forms of cash loans, such as payday advances, personal loans, or cash advances from credit cards. Our guidelines for pawning a Rolex watch are similar to selling, with the following additions:
- Don’t be afraid to negotiate – unlike other forms of selling your Rolex watch, your local pawnbroker has room to negotiate on price.
- Don’t be afraid to walk out and try elsewhere – if you feel that you are being pressured to sell or accept a price, don’t be scared to step out and try at another pawnshop! Any pawnshop worth your business will not pressure you, and you can easily find another shop who will treat you with respect.
- Pay your loan on time – your Rolex watch can help you obtain a quick cash loan over and over again, but only if you repay your loan on time. Paying on time will get you your Rolex back to use again when the need arises.
As you can see, your local pawnshop offers outstanding flexibility when it comes to buying, selling, or pawning a Rolex watch. If you live in the San Gabriel Valley or any of the surrounding communities, visit Azusa Pawn today to see how we can help you get the most for your Rolex watch!