The best way to pawn a Rolex is to avoid the pawn shop

When you’re looking for a place to pawn a Rolex, it’s important to avoid a pawn shop. This may sound like counter-intuitive advice — how can you pawn a Rolex without visiting a pawn shop? What many customers don’t realize, however, is that pawn shops aren’t equipped to deal with luxury watches. Instead, pawn a Rolex somewhere with watch industry expertise like Capetown Capital Lenders.

It’s common to see nice watches on display when you walk through a pawn shop. Remember, most of those watches you see were probably a bad deal for their previous owner. Here’s what you need to know before you pawn a Rolex.

1. Rolex watches are always in demand

Pawn shops love to buy Rolex watches because their value doesn’t go down. Unlike jewelry styles that go out of fashion, a Rolex watch is timeless and has high demand. Remember, you should get a high price for your watch. Take the time to shop around, and consider different loan options.

2. Pawn shops are unpredictable

Bring your luxury watch to someone already in the watch business. You are guaranteed to get a higher price when you pawn a Rolex to someone with industry connections.

First, jewelers have connections and known buyers in the watch industry. At Capetown Capital Lenders, we know exactly how quickly a Rolex can be sold. At a pawn shop, customers are unpredictable. The owner has to wait for someone to walk in who happens to want a Rolex. Since Capetown Capital Lenders knows we would have a buyer, we would pay more for a Rolex.

3. Pawn shops lack expertise

   Another way to guarantee a higher price is by working with an expert. Our jewelers have been working with watches for decades, and know exactly which models fetch more than others.

   Want proof? One pawn shop website says customers usually get $2,268 for a Rolex. At Capetown Capital Lenders, some recent deals we’ve done include $5,500 for this stainless steel Rolex Submariner, $11,000 for a Rolex Daytona Chronograph and $4,500 for a ceramic Rolex Submariner.

   

   Capetown Capital Lenders’ jewelers are also able to repair loose clasps and add links easily, improving the cosmetic value of the watch.

   If you have a Rolex or another luxury watch that you want to pawn or use as collateral for a loan, call Capetown Capital Lenders at 1-678-948-6223, visit our website, or schedule a visit to our Atlanta location.