When it comes to the different types of collateral that pawn shops will accept or buy from people, there can be a huge amount of variety across the nation.
Some pawn shops will only accept certain things, while there are other pawn shops out there that will buy just about anything that comes through their doors!
Often times, I’ve been asked about various brands of watches and how most pawn shops deal with them.
Today, we are going to look at a question that I’m commonly asked and that is “Do pawn shops buy Invicta watches?”
Well, let’s talk about a few basics before we really get into this.
A pawn shop is in the business of making loans against valuable items so that people can come back and get them at a latter date.
Now, what the pawnbroker considers valuable is going to be up to their individual opinion in many cases.
For instance, one pawnbroker may think that the only valuable watches out there are things like Rolexes while the pawnbroker down the street may feel that Invicta watches are the “Cat’s pajamas.” (Or, really worth something!)
So understand right from the start of this that all pawn shop operate a little differently. There is no “Black book” out there that tells pawn shops what they have to take and what they should pay for it.
These are individual, small business owners and they all have their own ideas on what is good to loan on versus what isn’t.
How Do Most Pawn Shops Deal With Invicta Watches
Keeping all of the above in mind, let’s talk about your ‘Average’ pawn shop across the nation.
In most cases, a pawn shop will be willing to look at an Invicta watch to make a loan on it or offer to buy it from you should you want to sell it.
That having been said, Invicta watches don’t hold their resale value well at all.
When your Invicta watch was brand new, you may have spent, $300, $400, even $900 on it.
However, on the second hand market, these same watches only sell for $50-$100 in most cases.
That’s a huge amount of depreciation, and unfortunately, that $50-$100 price range is what a pawn shop is looking at when they are in the position of having to sell an Invicta watch.
So, in order for them to buy one from you, or make you a loan on your watch, they will have to pay you less than what they can sell it for.
If they are buying it, they may be able to pay you closer to that $50-$100 range depending on the watch in question, but if you are just making a loan on it, you may only be looking at a $20-$50 loan.
No, the pawn shop isn’t ripping you off. Your Invicta watch just doesn’t retain much of its initial value once it’s used, so the pawn shop can’t pay you for something that’s not there.
How To Get The Most For Your Invicta Watch At A Pawn Shop
Now that you understand what a pawn shop is looking at when they loan on or buy Invicta watches, let’s talk about how you can maximize your value and get the most amount of money possible.
Clean It Up – The first thing that you should do is use a little 91$ isopropyl alcohol and clean your watch was well as possible.
Use a tooth brush and clean around the dial. If the watch has a bracelet and not a band (in other words, links and not a strap that goes around your wrist), spend some time cleaning any dead skin and dirt of from in-between the links. Also, spend some time cleaning the clasp or buckle as well.
Make Sure It Runs – While sure, a pawn shop may buy or loan on a watch that doesn’t run, they will almost always pay more for a watch that actually runs.
Because batteries for watches typically only cost $3-$6, it’s almost always worth putting a new battery in your watch so that you can show the pawn shop that it works properly and there aren’t any problems with it.
Bring The Box & Paperwork – When you bought your watch, it likely cam with a box or case as well as paperwork describing the watch and its operation.
Having these things with you can add value to the watch because the pawn shop will likely be able to sell it for slightly more. Anything that helps the pawn shop resell something for a little more means that they will almost always pay you more whatever it is.
Know What Model It Is If You Don’t Have The Paperwork – If you don’t happen to have the paperwork on your Invicta watch anymore, then make sure you do a little research up front and figure out extra what model it is.
Because Invicta has made so many watches, it can take a pawn shop forever to start with next to no information and find your exact model. However, you bought it, so you probably knew what you were buying and when looking through the various names of the watches, seeing the name again might make something click for you.
Having this with you upfront will definitely speed up the amount of time it takes a pawn shop to evaluate an item and in the end, it could end up getting you more money.
Why? Because when a pawn shop doesn’t know exactly what something is, they don’t know exactly what they will be able to resell it for and will always use caution and make a conservative offer on those items.
On the other hand, when you can show them what it is, they can do and research that one model and have some confidence in what they can resell it for, therefore making you the best loan possible.