Guide to Pawnbroking Your Watch
Luxury watches are long-lasting and reliable. When properly cared for, they can be an heirloom for generations, seldom losing value or going out of style. However, investing in a luxury timepiece has many benefits aside from the prestigious timepiece itself. It also provides financial flexibility that can be counted on in future.
A Worthwhile Investment
Consistently high demand for pre-owned luxury watches means they have excellent resale value whenever you need a cash release, whether via a sale or for use as collateral. These watches retain their value and often increase in line with the scarcity and age of the piece. Many high-end and limited edition luxury watches can be bought and sold for a higher price years later with some brands, so in-demand, second-hand models still sell for incredibly high prices. Some watch collectors will enjoy wearing the piece for a few years, while others won’t wear it at all and hold it to sell. Whichever route is desired, research is imperative to ensure there is a resale market for your watch.
Considering Pawnbroking Your Watch?
Pawnbroking is an expansive industry with many vendors or brokers specialising in particular items. Therefore, when you are considering selling a luxury item, most pawnbrokers won’t understand or appreciate the true value of the item unless they deal specifically with luxury goods. Perhaps you also need some assistance to define this, so it helps to work with an industry expert who will provide expertise and a fair and honest evaluation of your precious watch. An expert luxury pawnbroker will provide this service while having in-depth knowledge about luxury watch brands and models in Haute Horlogerie, whether vintage or a recent model.
What to Expect
A luxury pawnbroker will provide fast cash loans or cash payments against the value of a luxury watch, usually including brands such as Rolex, Jaeger Lecoultre, IWC, Omega, Audemars Piguet, Cartier and more. They will provide a quote for a loan or cash payment once they have had a chance to examine and assess your timepiece.
Pros:
– Fast access to cash loans or cash payments
– Offers protection against many luxury watch brands, such as Rolex, Jaeger LeCoultre, IWC, Omega, Audemars Piguet, and Cartier
– Provides an accurate quote after assessing your timepiece
Cons:
– May require borrowers to surrender their watch in exchange for the loan
– Loan amount may not cover the full value of the watch
– Luxury watches are a niche market, so pawnbroker may not accept all brands/models
Evaluation
The Evaluation stage is vital and the more information provided, the higher your offer will usually be. This will include the watch brand, model number, certification, paperwork, and the original case. From there, an immediate cash or loan offer will be presented to you for consideration.
Loan or Cash Payout
Once you decide to accept the cash payment offer or agree on the loan terms, you will usually receive your funds immediately or on the same day. This can really help when you need cash in your hand fast. If you have taken a loan, there will be expectations on the repayment time frame and the amount agreed on the same day you collect your funds. On repayment, your broker will return your luxury watch in the same condition as when you left it.
From there, you will be able to enjoy your luxury watch knowing that you have taken care of your financial needs in a timely and efficient manner. At the same time, you have established a working relationship with the lender or broker which could be the basis for future transactions. As long as you keep up your payments, you can expect to have a reliable source of financial aid in the future.
Contact Bonds of Brentwood
Bonds of Brentwood is a respected pawnbroker specialising in high-end watches and other luxury goods. Don’t hesitate to contact us when you wish to sell your luxury items.
Bonds of Brentwood is a respected pawnbroker that specializes in providing cash loans and cash payments for luxury watches, such as Rolex, Jaeger LeCoultre, IWC, Omega, Audemars Piguet, and Cartier. By offering an immediate cash or loan offer after evaluating the watch, Bonds of Brentwood provides a reliable, fast solution when financial needs arise. Though there may be drawbacks to pawnbroking, such as the loan amount not covering the full value of the watch, these watches provide many benefits beyond the prestigious timepiece itself, such as financial flexibility and excellent resale value.
