When it comes to timepieces that pawn shops typically deal with, Omega watches are a little unique.
You see, over the years, Omega made some really great watches that are highly desirable. They also made some not-so-great watches that basically nobody wants. So a lot of how a pawnshop handles your particular Omega watch will depend on the watch itself.
How 'Pawnable' Is This Item
What Value Does This Item Have
When it comes to Omega watches, they will only score a “Good” rating for pawnability. This is due to the difference among Omega watches. Some Omegas will be very sought after and the pawnshop will be very happy to see you walk in with one. others, not so much…
In terms of value, Omega watches will only score a “Fair” rating as some of the less desirable Omega watches may be rejected altogether. While yes, certain Omegas may bring over a thousand dollars or more, others just can’t be worked with.
What To Bring With You:
When it comes to Omega watches, it will really depend on the watch in question. If it’s a higher end Omega, than it is always helpful to bring items such as:
- The original box, insert, and paperwork if you still have it.
- Any additional bracelets or bands that you may have purchased for the watch.
- Any links that you may have had removed from the bracelet originally.
If it’s a lower-end Omega, these things may still help but aren’t as critical.
If the Omega you have uses a battery, it’s always a good idea to make sure that the battery is newer so that you can demonstrate to the pawn shop that it does indeed work as intended.
Percentage Of Pawn Shops That Accept This Item 60%
Percentage Of Pawn Shops That Consider This Item Desirable 20%
Average Redemption Rate For This Type Of Item 30%
Percentage of Households That Have This Type Of Item 10%
Percentage Of Times This Type Of Item Is Pawned vs Being Sold 50%
Omega watches score a little lower than other watches in these areas. Only 60% of pawnshops will take a wide variety of Omega watches. Omega watches also only score a 20% on desirability because the cheaper models just aren’t at all desirable by almost any pawnshop.
The average redemption ratio for Omega watches is far below average at around 30%. Higher end models are more likely to be redeemed.
Less than 10% of households have these while the number of people that pawn versus sell their Omega watches are split nearly down the middle at 50/50.
What Are Some Advantages To Pawning This Type Of Item
The benefits of pawning an Omega watch can be varied.
- If it’s a higher end watch, you will get a good amount of money for it from a pawn shop.
- If it’s a higher end watch, you will find a good number of pawnshops that are willing to take it in.
What Are Some Drawbacks To Pawning This Type Of Item
- If it’s a lower end Omega watch, then you will find that more often than not pawn shops aren’t willing to work with them.
- If it’s a lower end watch, you will often find that a pawnshop may not want it at all.
- If it’s a lower end watch, you may find that the amount of money that you are offered for it is much lower than expected.
Pawning Omega Watches
There’s no easy way to say this… Some Omega watches are just considered to be garbage timepieces. They go for maybe $5-$10 on eBay and nobody really cares about them for the most part.
That having been said though, there are some Omega watches that go for $2,500-$3,500 on eBay. THESE are the Omegas we are looking for when we are talking about what a pawn shop will and won’t accept.
Selling Omega Watches
When it comes to selling your Omega watch, you are going to be in just about the same scenario you are with pawning it. If it is a low value watch, you just won’t get that much out of it.
An alternative option here for you might be to try to sell it on Craigslist or the Facebook Marketplace. You may find a more willing buyer those outlets than you would otherwise.
Wordpress junkie, music lover, and consumer of all things pizza-oriented. I’ve run pawn shops and check cashing operations for years. I developed the most successful digital marketing marketing strategy for pawn shops known to date, and flip items on eBay for fun.