Understanding the Difference between Selling and Pawning
When you sell your Rolex watch to a pawn shop, you are transferring ownership of the watch in exchange for cash. When you pawn your Rolex watch, you are using it as collateral for a loan. We will then keep your item in a safe vault; yet, your item still remains your property! When you’re ready to reclaim your pawn, we’ll return the watch to you.
The QOP Process
At Queen of Pawns, we offer a simple and straightforward process for selling or pawning your Rolex watch.
To sell your Rolex watch, simply bring it into one of our Florida locations and a member of our team will appraise it. You’ll need to provide us with a valid government-issued ID as well. Once the appraisal is complete, we will make you an offer. If you accept our offer, we will pay you cash on the spot.
To pawn your Rolex watch, you must be at least 18 years old to pawn and be the legitimate owner of the product you are attempting to pawn. You will need to provide us with a valid government-issued ID. We will then appraise your watch and make you an offer. If you accept our offer, you will receive the proceeds in cash and we will hold your watch as collateral. When you’re ready to reclaim your pawn, your watch is free to take. If you need more time just let us know! We allow you to extend your pawn as necessary.
The Pros and Cons of Pawning a Rolex Watch
Pros:
- You can get cash quickly.
- You don't have to give up ownership of your watch.
- You can reclaim your watch once your short term financial need has passed.
- No need for credit checks. You can pawn your items no matter your credit score!
Cons:
- Pawning is a great alternative for short term financial needs. You can get quick cash with no questions asked. The faster you reclaim your pawn, the better. Other solutions might be more suited or beneficial for your long term financial needs.
- If you choose to walk out of your pawn, consider your watch as sold. There will be no harm to your credit at all or to your business relationship with Queen of Pawns. You are welcome to continue pawning, selling or buying at any of our stores.
The Pros and Cons of Selling a Rolex Watch
Pros:
- If you don’t mind transferring ownership of your watch, then you can opt for an outright sell.
- You don't have to worry about repaying anything.
Cons:
- You will have to give up ownership of your watch.
- If the watch you are looking to sell has gained in collector desirability, you might get a great deal, however, if your watch model is not in demand, you may not receive 100% of the original purchase retail price.
How to Decide Whether to Sell or Pawn Your Rolex Watch
The decision of whether to sell or pawn your Rolex watch depends on your individual circumstances. If you need cash quickly and you’d like to eventually be reunited with your personal watch, then pawning your watch may be a good option for you. If you just want quick cash and don’t feel compelled to get your watch back, then selling it may be a better option.
Where to Take Your Luxury Watch
If you decide to sell or pawn your Rolex watch, it is important to take it to a reputable pawn shop. Queen of Pawns is a family-owned and operated pawn shop, founded in 1995 with 50+ years of pawnbroking experience. We specialize in pawning, buying, and selling luxury watches, including Rolex watches.
We offer a friendly and welcoming atmosphere, and we are committed to providing our customers with the best possible experience.
FAQ Regarding Buying and Selling Luxury Watches at Pawn Shops
Q: Will pawn shops take Rolex watches?
A: Yes, most pawn shops will take Rolex watches. However, it is important to note that not all pawn shops are created equal. Some pawn shops may offer you more money for your Rolex watch than others (like us… we give you the most we possibly can!).
Q: Is it better to sell a watch to a pawn shop or jewelry store?
A: If you need cash quickly, a pawn shop is the better option. We offer a faster and easier way to sell your watch without hassle!
Q: Do you need a certificate of authenticity to pawn a Rolex?
A: It is not necessary to have the original certificate of authenticity or the original box for your Rolex watch to pawn it. However, having them can help the pawn shop to appraise your watch more accurately. Again, not necessary though.
Q: What do you need to pawn a Rolex?
A: To pawn a Rolex watch, you will need to provide the pawn shop with a valid government-issued ID, must be the legitimate owner of the watch, and be at least 18 years of age or older.
So, Should You Buy or Sell Your Watch?
Whether to sell or pawn your Rolex watch is a personal decision. There are pros and cons to both options. It is important to weigh your individual needs and circumstances before making a decision.
If you decide to sell or pawn your Rolex watch, we invite you to visit any of our Queen of Pawns pawn shops in Florida. We are sure our family-owned and operated pawn shop can give you the best selling and shopping experiences possible!
