Pawnshopshave come a long way from the dark ages when they where in bad neighborhoods and had questionable characters that owned them. Getting a short term loan on your jewelry items can be a lifesaver for many folks. Selling your jewelry is a good idea if its going to be 6 months or more before you get right with your finances. But if you ever want to replace your jewelry or watches down the road, it could be more costly than if you took a loan out and got them back with the interest charges added………….
I get asked this question at least a couple times a week. The most important factor are, do you have a sentimental attachment to it? Is it something that can be replaced down the road?? How long will it take me to have the funds to get redeem it???
If you item was passed down from someone in your family, then pawn it and make sure you set aside some money each week so you can pay it off. If you bought a Rolex watch say for 5000 and you need money now, sit down and try to guesstimate how long it will take you to get it back. If its more than a couple months, then you might want to sell it and buy one again down the road when you can afford it. The interest can add up quickly and end up costing you more in the long run.
I ran across this article and thought I would share it with you. Along with everything thing else for sale in these times, diamonds are not resisison proof. Its a great time for buying your loved ones a diamond but if you need to sell one, the market is flooded with stones. Lets keep are finger crossed that we can get the economy jump started soon.
All the best, JB
I am always looking for high-end watches including but not limited too, Rolex, Breitling, Cartier, Panerai, IWC. I am paying top dollar for Rolex sports models in stainless steel especially. If you are looking for a quick check or cash for your timepeice, please give us a call. We pay top dollar wholesale. If you are trying to get retail money then your best bet is sell it to a friend. Remember, there is not much of a retail market in pre-owned watches because of this wonderful economy we are suffering through……
With the divorce rate at 51% these days and the world economy in molasses, pre-owned diamonds, Rolex watches and jewelry are showing up for sale more than ever now. Thats a great thing if you are looking for a deal on a pre-owned treasure.
On the other hand, if you need to sell now, you might not get as much as you would like. Its simply a supply and demand issue. To many sellers and not enough buyers are causing the prices of pre owned watches and diamonds to fall. So, if you need to sell that Rolex watch or diamond ring, be ready to get offers that are much less than a dealer would have paid 4 or 5 years ago when everyone was making more money and spending it.
All the best, JB
Don’t fight it. Don’t even think about it. If you have old jewelry laying around collecting dust, get rid of it. That does not mean to put it in the mail to a company that is going to steal it from you or to someone having a gold party at their house. How about your local trusted jeweler? If you don’t have one , then nows the perfect time to develop a relationship with one as you shop your gold around for the best price.
The bottom line is, sell it before the gold bubble burst. And it will, just as the tech bubble and the housing bubble did. Could it go higher? Sure. But the difference of what you will get paid for a few rings and bracelets will be small. When gold gets back to reality, prices will plunge. I was in the jewelry business when gold was $250 per ounce back in the eighties. Its now, $1230 per ounce, at an all time high. Wow, what a run :)
I look at many different brands of watches for sale everyday. Rolex, Cartier, breitling, Tag Heuer and many more. What determines the value of a watch depends on a few variables. Brand, retail price, condition, demand are the most important ones I can think of. When it comes to brand, Rolex watches hold their value better than most. The reason is because there is good demand for them in the used market and they are not discounted much when new. The stainless steel sport models like the daytona, submariner, yachtmaster and GMT’s are good examples. If you are selling your Tag Huer or another watch that can be found for deep discounts off the retail price, you can expect too lose a greater percentage of your purchase price. There are some watches that dealers will not buy at all that might cost over 1000 dollars retail because the secondary market for that brand is non-existent.