The Untold Secrets About Buying, Selling and Pawning a Rolex At A Pawn Shops

Rolex watch sitting on desk

Rolex is interchangeable with luxury. You can’t think of a Rolex watch’s beauty, details, and precision without thinking luxurious. The watch industry has not been the same since 1905. At the early age of 24, Hans Wilsdorf set his mind on creating a reliable wristwatch.

Wristwatches were not very precise at the time, but Hans Wilsdorf foresaw that they could become not only elegant, but a watch is known for their precision and craftsmanship.

Secret #1 - Less was More When It Came to Naming the Watches

The truth be known, less was more for Hans Wilsdorf when he decided to name the watch ROLEX – five letters, easy to say, and easy to remember. The name Rolex brings to mind elegance obtained through precise movements manufactured in Switzerland.

Secret #2 - Rolex Has a Science Lab That Guides Its Evolution

Rolex has an internal scientific lab that creates state-of-the-art caliber movements, researches lubricants, and how to create the perfect unbreakable watch dome. Having a research and development department, Rolex doesn’t work on someone else’s time; they work on their own time, launching their watch development at a precise pace that keeps them ahead of the watch-making game.

rolex branding

Secret #3 - Brand Name Status Increases the Cost of a Rolex

There is no denying that Rolex equals quality, and the price of a Rolex also includes a hefty increase because of the brand name status.

Rolex watch prices are affected by supply and demand. Because the watches are only made by hand and seen as superior to other watch brands, there may only be a few watches available that are the correct model you are looking for.

Rolex watches are the same as years ago, with only a few changes. But their price far exceeds the rate of inflation. You are paying more money for a new Rolex because of the brand, not the differences. The brand name status makes the watch a good investment.

Secret #4 - Vintages Watches Are Great To Buy, But There is a Huge Range of Fakes

Owning a vintage Rolex watch is wonderful; however, watch for the reproductions, counterfeits, and fakes. Vintage watches are typically not produced anymore, and older watches were made to last. Suppose you buy newer things; you may find that they break easier. Did you know Paul Newman’s vintage Rolex Daytona 632 sold at auction for USA$17.8 million at Phillips Auction gallery in New York, 2017?

Rolex watches are the most counterfeited watch on the market, and the most common styles are the Datejust, Submariner, Yacht-Master, and Oyster Perpetual. The watch industry has been identified as one of the most susceptible to counterfeit copies. There are up to 400 million fake watches on the market each year, with an estimated value of one billion US dollars.

Rolex watches have a deeply engraved serial number stamped between the watch lugs at the 6 o’clock position. To find the serial number, you will have to remove the bracelet. If you hold a genuine Rolex watch to the light, you will be able to see a slight glow around the edges.

pawn loans on rolex
Rolex Pawn Loans

Secret #5 - Most Pawn Shops Buy, Sell, and Loan On Rolex Watches

Rolex watches are highly sought after at most pawn shops. Pawn shops like to buy, sell, and loan against luxury watches because there are customers who like to purchase previously owned luxury watches at affordable prices and customers who want to sell their luxury watches for quick cash.

Pawn shops will write collateral loans using different items, including Rolex watches, gold coins, diamond jewelry, bullion, luxury handbags, and other high-end things if someone needs money to get through until the next payday, finance a purchase while waiting for additional funds to come in, or help with the cost of an emergency. Unlike banks, pawn shops don’t care about credit ratings or employment history, and they need a state-issued ID.

The interest and terms of the short-term collateral loan are disclosed to the customer. Customers don’t have to wait for funding because they are funded the same day before leaving the shop. There’s typically no deal too big for pawnshops.

Pawn shops will also buy outright Rolex watches and other luxury items. Maybe you are a person who gets bored with wearing the same watch and you would like a change. You can take your luxury watches to a pawnshop and have them appraised. The pawnshop will make you an offer based on the current market value. You don’t have to take the offer. The decision is yours. You may get more money if you have the original box and paperwork.

The process of repair of mechanical watches
The process of repair of mechanical watches

Secret #6- Specialist Knowledge

The pawn shops industry is an industry that must know the true market value of different items without making mistakes. Pawnshops can’t afford to ignore the details of a thing like a watch and overvalue it because if they do, they may not get their money back when they try to sell the item.

Most Rolex owners and collectors know the difference between a genuine Rolex and a counterfeit one. These customers aren’t going to buy Rolex watches from a pawn shop that tries to sell luxury watches that aren’t real.

The pawnbrokers need to know how to authenticate and know a genuine Rolex from a fake. Most pawn shops have pawnbrokers with specialist knowledge who understand the details of most luxury items. If they don’t, they are part of a more extensive network like Pawn Brokers Helping Pawnbrokers, who know the details.

It would simply be bad business for a pawnshop to bring in items that aren’t genuine and then try to sell them. The shop would go broke.

When you shop for a Rolex, you can be confident that the shop has gone over and beyond to ensure you get the quality you expect. It’s good business.

Secret #7 - Pacific Beach Loan and Jewelry

Do you live in Pacific Beach, CA, or the communities around Bird Rock, Mission Beach, Kearney Mesa, Clairemont, Hillcrest, or Linda Vista, and you hope to get your hands on a luxury watch with its original packaging?

PB Loan and Jewelry is a full-service pawn shop that specializes as a premier jewelry buyer specializing in gold coins, gold, silver, Rolex watches, luxury handbags, and diamond and gold jewelry at the value of your money.

Don’t spend your time looking at websites that waste your time and don’t have luxury watches at a fair price. Shop with confidence knowing all watches are authenticated by PB Loan and Jewelry pawnbrokers. To get a reasonable price, take advantage of PB Loan and Jewelry’s sales and deals on specialty items in stock.