When it comes to widely known timepieces, Movado watches are up there with Rolexes.
We aren’t sure how they became so popular but just about everyone know what a Movado watch is, what they look like, and who has one. But does that alone make them something that every pawn shop deal with?
How 'Pawnable' Is This Item
What Value Does This Item Have
This may surprise many of you, but most Movado’s will only rank a “Fair” on the pawnability meter. Why you ask?
Well Movado’s are constructed in such a way that they are very easy to counterfeit and there’s virtually no way to tell them apart from a real Movado. This is in part due to the fact that Movado watches use very inexpensive movements that you can typically find on eBay for just a few dollars as they are mass produced in China.
This damages not just their second-hand market value, but their desirability as well. A true watch aficionado typically takes great pride in the construction of their watch. It’s why Rolexes fetch the prices they do. But a Movado doesn’t have any of that going for it.
Because of this, the value score for Movado watches will also rank in at a much lower than expected “Poor.” You just aren’t going to get a huge amount of money for one when they are so easy to counterfeit and have such low value anyplace other than when they are brand new.
What To Bring With You:
As with most watches, it helps if you bring things like –
- Any links you may have had removed from the watch.
- Any extra bracelets or bands you purchased for the watch.
- A new battery in the watch so the pawn shop can see that it works.
- The original box, insert, and any documentation that you may have for the watch.
Percentage Of Pawn Shops That Accept This Item 40%
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 70%
The scores here for Movado watches will probably also be surprising for many people out there. The percentage of pawnshop that take Movados is a low 40%. Of those that do take them, only 20% of them consider Movado watches to be very desirable.
The average redemption ratio for Movado watches is far lower than the national average for pawned merchandise at just 30%. less than 10% of households have Movado watches they can pawn, but when they do, roughly 70% of people choose to pawn it versus sell it. This is often due to the lower than expected offers to buy them.
What Are Some Advantages To Pawning This Type Of Item
- If you make a loan on a Movado, it will likely be at an affordable price that makes the loan easier to pay off and get the watch back.
What Are Some Drawbacks To Pawning This Type Of Item
- You will find that the offers for your watch are typically far under what you expect them to be.
- You may find that it is difficult to find a pawn shop that will accept your watch.
- If your watch doesn’t run because of a dead battery, even few pawn shops will accept it.
Pawning Movado Watches
When it comes to pawning these timepieces, there are some things that you will want to be sure that you dod first if at all possible.
- Make sure that the watch has a new(er) battery so that the pawn shop can see that it works properly when you bring it in.
- Make sure that the watch is relatively clean. Don’t use anything too abrasive that may scratch the watch. Also avoid getting the movement area of the watch too wet as it may not be water resistant and damage the watch,
- It’s very helpful to have the box and original paperwork if possible as that may help authentic the watch in a pawnbroker’s eyes.
Selling a Movado Watch At A Pawnshop
Many of the same rules apply as they would when you were taking the watch in for a pawn loan. Just keep in mind, you may not be offered a whole lot for your watch as their second-hand market value is much lower than most people anticipate.
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.