Watches can be a high-value status item that can hold a lot of value which is why a lot of watch owners are deciding to use their watches as a way to release some cash when they need it. Your watch was bought to be a statement about your style and your taste and many brands of watches are also an investment piece as they can hold their value.
At GEM Pawnbrokers we are experts in handling watches and jewelry as our staff are trained to appraise pieces and value them and we will offer the best price for your items.
Why are used watches a good item to pawn?
Watches are highly desirable items that can indicate your status and style which is why they are so popular especially if you have a designer watch. Many designer watches can hold their high value, so they are ideal for pawning.
We are interested in a variety of watches including designer watches, new and older models, and inherited pieces. Whether you want to sell or use your used watch as loan collateral.
Sell or pawn your used watch?
We offer both a purchase or loan solution to our customers, so it is up to you if you want your watch back or are happy to part with it. If you want to sell your watch, we will do a full appraisal so that we can assess its market value based on its condition.
If you want to take out a loan against your watch we will do the same appraisal so that we know its value but we will then create an offer to you based on the market value of the watch. This offer will be a transparent and simple loan which will show you the amount offered as a loan, the amount of interest and the length of the term.
Our loans are competitive and fair which is why you can return for your watch at any time during the loan term and if required we can extend your loan term if you can pay the interest agreed.
What do we look for in your used watch?
The value of your used watch will depend on make, condition and the current desirability of the watch. When we appraise your watch, we will be looking for:
- Its make and model
- What it is made from
- Its condition including any damage
- Whether the watch is genuine or a counterfeit
We have to check watches carefully as there is a huge counterfeit market for designer watches and we will be looking at the materials, serial numbers, finishing and engraving to see that they match.
Why choose GEM Pawnbrokers?
We are highly experienced and fair pawnbrokers and we will offer you a competitive deal. We are one of New York’s largest pawnbrokers with 24 conveniently placed stores across the district. Visit one of our stores for an appraisal of your used watch and to find out what we can offer you.