Do Pawn Shops Pawn or Buy Patek Philippe Watches

If you have a Patek Philippe, you certainly know your fine timepieces.


But does that mean that pawn shops take in Patek Philippe watches regularly, or even find them desirable? The answer is normally a resounding yes.

How 'Pawnable' Is This Item

What Value Does This Item Have

The pawnability of Patek Philippe watches is very high. Patek Philippe is one of the more sought after brands in most pawn shops, even if it is not as well known to the public as Rolex, or Tag Hurer for instance.

The value meter for a Patek Philippe watch is going to rate on the “Excellent” side of things as well. These are just very sought after watches. A lot of people want them and for very good reason.


What To Bring With You:

As with most watches, there are going to be some things that you want to bring with you to the pawn shop when you take your Patek Philippe in to be looked at.

  • Any links you may have had removed from the bracelet.
  • Any extra bracelets or bands that you bought with the watch originally.
  • The original box, insert, and paperwork from when you purchased your Patek Philippe.
  • Any service records you might have from any work done to you Patek Philippe watch.

Statistics:

Percentage Of Pawn Shops That Accept This Item 99%
Percentage Of Pawn Shops That Consider This Item Desirable 99%
Average Redemption Rate For This Type Of Item 90%
Percentage of Households That Have This Type Of Item 10%
Percentage Of Times This Type Of Item Is Pawned vs Being Sold 90%

Patek Philippe watches are considered very desirable and are accepted by over 99% of pawn shops. The same number consider them to be a great item to see brought in and have offered to them for sale or to make a loan on.

The average redemption rate of this type of watch is very high, scoring in at over 90%

Less than 10% of households have this time of watch, as you might expect. When they do though, over 90% of people choose to make a loan on it versus selling it at a pawn shop.


What Are Some Advantages To Pawning This Type Of Item

The benefits of pawning a Patek Philippe watch are varied.

  • You will have no trouble finding a pawn shop it to it in on loan or offer to buy it from you.
  • You will be given a good amount of money for your Patek Philippe timepiece.
  • This is the type of watch that you can shop around for the best price.

If you are not happy with the first offer you get for your watch, this is one of those timepieces that you can take to a few different pawn shops and see what they offer you. That way, you know you are getting the most amount of money possible for it if you are in need of it, or are looking to sell it.


What Are Some Drawbacks To Pawning This Type Of Item

  • On the downside, if you don’t need a huge loan, you may find that you are offered a tempting amount of money for your watch.

Just because a pawn shop offers you a few thousand dollars for your watch doesn’t mean that you have to accept that amount. As a general rule of thumb, only accept what you need when making a pawn loan.

It will make the loan easier to pay back and get your watch back with the least amount of expense and time required.

Pawning a Patek Philippe Watch

You should have no problem pawning this type of watch. In fact, you may find it deceptively easy.

Just make sure you have everything with you when you do go to the pawn shop. It may seem silly to take the box and paperwork if you know that you will be redeeming your watch, but these things do make a different to a pawn shop when they are making you an offer.

You have to keep in mind that even when talking about loans, pawn shops are looking at these items as if they may end up owning them and being in the position of having to sell them at some point. Having those types of things makes it much easier for them, and therefore, your offer will normally be higher when you have all of these “Extras” with you to begin with.