There’s few watches that are more widely sought after than a find Rolex watch.
To be clear, pawnshops LOVE seeing Rolex watches come through their doors. Obeying the golden rule of pawn shops (they only loan on or buy what they can sell), there’s no question that there is high demand for these timepieces.
How 'Pawnable' Is This Item
What Value Does This Item Have
Rolex watches score the highest “Excellent” rating for both pawnability and value.
It’s going to be hard to beat a good Rolex in terms of finding something that the greatest number of pawnshops buy and will pay BIG money for if they have to just to get one through the door. This is definitely the type of item that you take into a pawnshop when you need thousands of dollars quickly.
What To Bring With You:
That having been said, there’s going to be a few things that you will want to bring with you when you go to a pawnshop with your Rolex.
- The original box and paperwork.
This is really important as it helps authentic your watch and is considered highly valuable to a perspective buyer should a pawn shop be in the scenario where they have to resell your watch.
- Any extra links you may have had removed.
This is another item that’s going to have significant value to it as original Rolex links often fetch a premium as well.
- Any original parts if you’ve had your watch customized in any way.
It’s not uncommon for Rolex buyers to customize their watch with aftermarket dials or bezels, so be sure you have the originals with you when you go as well.
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%
Just about every pawnshop on the face of the planet will be willing to take in a Rolex watch, so here, they score a 99% for both pawnshops that take them and desirability.
The redemption ratio on Rolex watches are normally pretty high at roughly 90%, just over the national average for most items that are placed in pawn.
Less than 10% of households have this type of item, but when they do, 90% of them choose to pawn it versus selling it as this is the type of item that they will want to get back.
What Are Some Advantages To Pawning This Type Of Item
- You’re going to be able to get a very good amount of money for your newer, good condition Rolex.
- Even older Rolex models still bring respectable amounts at most pawn shops.
- You’ll have no trouble finding a pawnshop that’s willing to make a loan on or buy your Rolex as long as it is authentic.
What Are Some Drawbacks To Pawning This Type Of Item
- A pawnbroker will scrutinize the watch as there are a ton of fakes floating around the market.
- The loan will be a higher dollar loan more often than not, and as such, may be a little more difficult or take a longer amount of time to pay back.
Pawning or Selling Your Rolex Watch
When it comes to pawning or selling your Rolex watch, the biggest hurdle will often be the pawnbroker determining that it is in fact authentic. Don’t be insulted by this, Rolex watches are the most counterfeited watch on the market and the average pawnshop will see 5 or more fake Rolex watches a week.
This is the type of item that you pawn when you need high hundreds to multiple thousands of dollars on loan depending on what model Rolex you have. Datejusts obviously will bring a little less while a Pearlmaster while bring a massive amount of money.
Having that original box and paperwork is very important, although you can still make loans on or sell your watch without it if you have to. It will often reduce the offer that the pawnbroker makes you however because those items are so very desirable.
Thinks like extra bracelet, links, and original dials and bezels will mean a lot, so bring those as well if you can.
It goes without saying that it may not be a bad idea to take your Rolex to have it cleaned first, just so that you present it in the best possible condition if you need the most amount of money you can get out of it. I would not suggest doing this yourself, it’s best to pay to have it done with a timepiece of this value.
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.