pawn shop & Rolex

[jglassjr]

was in a pawn shop about 6 weeks ago looking for coca cola memorabilia and happen to notice quite a few rolex watches....just a quik look and seen a sub no date .......I cant quit thinking of that watch! but, Im not too keen on buying a watch from a pawn shop......Im not as knowledgeable as some/most people here.....so Im asking for a little advice about how to go about this.... should I deal on it? would they let me get it authenticated? offer a lower price with expectation of sending it 2 a RSC for a clean up and lube.....or just walk away(being a pawn shop deal).... the asking price is $3800......I dont know how old it is as I didnt see a serial # listed

[rms]

Originally Posted by jglassjr

was in a pawn shop about 6 weeks ago looking for coca cola memorabilia and happen to notice quite a few rolex watches....just a quik look and seen a sub no date .......I cant quit thinking of that watch! but, Im not too keen on buying a watch from a pawn shop......Im not as knowledgeable as some/most people here.....so Im asking for a little advice about how to go about this.... should I deal on it? would they let me get it authenticated? offer a lower price with expectation of sending it 2 a RSC for a clean up and lube.....or just walk away(being a pawn shop deal).... the asking price is $3800......I dont know how old it is as I didnt see a serial # listed

I would not purchase from a pawn-shop unless you can get it authenticated by an AD or trusted expert. The Rolex may appear to be real on the outside but you never know if there are non-Rolex parts on the inside.

[padi56]

Well many pawn shop owners are quite knowledgeable in most of the goods they take in.And if they are not sure they would most certainly get it verified before they parted with any cash.Many Pawn shops would let you have it verified before sale but at your cost.And if the Rolex watch is within 15 years old I would doubt if any parts inside the watch were ever changed or needed to be changed.But when buying any mechanical watch say over 5 years old it would be prudent to budget for a routine service.

[Kapture1]

Originally Posted by padi56

Well many pawn shop owners are quite knowledgeable in most of the goods they take in.And if they are not sure they would most certainly get it verified before they parted with any cash.Many Pawn shops would let you have it verified before sale but at your cost.And if the Rolex watch is within 15 years old I would doubt if any parts inside the watch were ever changed or needed to be changed.But when buying any mechanical watch say over 5 years old it would be prudent to budget for a routine service.

Most are, and the majority know Rolex. Since they have to make money on anything they take in, it pays to know their stuff.

That being said, I would never outright buy a Rolex from a pawn shop. The only exception would be if I had something worth a bunch that I traded in.

I have never looked at pawn shop watches, but I imagine they are overpriced.

[unclesallie]

Jim: I am wondering if you are in Texas if you are near Houston. Hal Martin has a big store and he is reputable, and his prices will be just as good as the pawn shop. Difference, Hal will stand behind the watch on authenticity and service. OR you could check out the buyers/sellers section and buy from a trusted seller here on TRF.

[Timependulum]

Originally Posted by unclesallie

Jim: I am wondering if you are in Texas if you are near Houston. Hal Martin has a big store and he is reputable, and his prices will be just as good as the pawn shop. Difference, Hal will stand behind the watch on authenticity and service. OR you could check out the buyers/sellers section and buy from a trusted seller here on TRF.

I can second that, having bought my first (TTsub) and recently a YG DD from Hal Martins

[Casey VP-26]

Over many years I have found some great stuff at Pawn Shops. However years ago the fakes were not flooding the market as they are today. So as always BUYER BEWARE. Good luck.

[buke45]

If they let you get it authenticated and you have someone you trust that can do it you have no risk at all, do it : )

[slcbbrown]

There is a huge range of pawn shops. I've seen a few that have a limited-access back room full of high priced jewelry and watches. The word "pawn" doesn't make them any flakier than other pre-owned stores.

$3,800 doesn't strike me as a super deal for a 14060, unless it is a very recent model. I would think that for $3,000-$3,500 you can find a no-date whenever you want, so why rush? Does this pawn shop do repairs?

[paddy_crow]

My biggest concern would be that it is stolen.

[DHG0388]

Most pawn shops will guarantee authenticity or your money back. They know what the SN is so you can see how old it is. Most pawn shops are required to fill out a form that is sent to their local police department to check for stolen items.

Go in with crisp $100 bills. I normally put different amounts of cash in different pockets so I can pull the money out and count it and then claim, "that's all I have". If they are firm on their counter offer you can tell them that you will need to go to the bank. They know that if you leave the store, there is a good chance you will not come back and may budge. Also make sure you are talking to the guy that has the authority to accept your offer. You can usually pick them out pretty easily.

Oh and if they claim "Their" jeweler already serviced it and blah blah blah, I would NOT take that into consideration when negotiating the price. IF they don’t have the box, or the right box, hit them hard on that point also.

[dethswatch]

Originally Posted by DHG0388

Go in with crisp $100 bills. I normally put different amounts of cash in different pockets so I can pull the money out and count it and then claim, "that's all I

"If you want that price, then I'd suggest you sell it on ebay because no one else is going to walk into this shop and and slap down cash any time soon."

Alternatively, "If you want that price, then I'd suggest you sell it on ebay because no one else is going to walk into this shop and pay that price any time soon."

This has always worked with me and cameras...

[MortgageGuy]

I personally would not purchase from a pawn shop. Just my opinion. I would try the sellers here on trf get a better deal and no authenticity issues :)

[(DMB)]

As stated before, pawn shop owners know their stuff. I'd bet a watch forum member gets taken on a fake watch before a pawn shop owner. Also, there is room to haggle. Pawn shops buy low and sell high. They aren't going to waste their time flipping a Rolex for a couple hundred bucks. Lastly, there are deals to be had. Last year I bought a mint, and I mean mint, M serial Sea Dweller with all the stuff that goes with it for 4K. The watch turned out to have been purchased new in 2008 by the person who pawned/sold it, then sat in the shop for over a year. The pawn shop wanted $4500, but 4 stacks got his attention.

[moishlashen]

Originally Posted by (DMB)

As stated before, pawn shop owners know their stuff. I'd bet a watch forum member gets taken on a fake watch before a pawn shop owner. Also, there is room to haggle. Pawn shops buy low and sell high. They aren't going to waste their time flipping a Rolex for a couple hundred bucks. Lastly, there are deals to be had. Last year I bought a mint, and I mean mint, M serial Sea Dweller with all the stuff that goes with it for 4K. The watch turned out to have been purchased new in 2008 by the person who pawned/sold it, then sat in the shop for over a year. The pawn shop wanted $4500, but 4 stacks got his attention.

Yep that was a great buy. I've heard others as well. Either way you have nothing to lose looking in pawn shops and you are correct in that the owners are sharp. Its their business to be sharp and they know a lot or have access to people who know a lot.

[sparky]

I would worry that the last owner had some bad money mojo still left on the watch and that I would come down with it too.

[TimothyNelson]

Pawn shop out here has a 2003 F Series Platinum Yachtmaster. I know the manager well. They have 3k into it (showed me on the computer) - Priced $5300. No box, with papers. Give the bracelet a polish and it's as good as new. Was at my local AD and brand-new she was sittin' at 10.5k.

[mrbill2mrbill2]

Originally Posted by TimothyNelson

Pawn shop out here has a 2003 F Series Platinum Yachtmaster. I know the manager well. They have 3k into it (showed me on the computer) - Priced $5300. No box, with papers. Give the bracelet a polish and it's as good as new. Was at my local AD and brand-new she was sittin' at 10.5k.

A +/- 78% markup. An AD gets 45% at MSRP.

[gasman94]

Originally Posted by mrbill2mrbill2

A +/- 78% markup. An AD gets 45% at MSRP.

True, and the AD also has to find someone to buy the Leopard Daytona that Rolex made him stock.

[SoftwareDrone]

Originally Posted by mrbill2mrbill2

A +/- 78% markup. An AD gets 45% at MSRP.

ARE YOU SERIOUS??????????!!!!!!!!!!!!!!!!!!!!!

[mrbill2mrbill2]

Originally Posted by SoftwareDrone

ARE YOU SERIOUS??????????!!!!!!!!!!!!!!!!!!!!!

Do the calcs. This is a huge markup. While this may not be true for all pawnshops, this pawnshop, IMO, seems greedy.

Does anyone know what the "usual" markup is for a Rolex at a pawnshop?

[Jan Davis]

Originally Posted by mrbill2mrbill2

Do the calcs. This is a huge markup. While this may not be true for all pawnshops, this pawnshop, IMO, seems greedy.

Does anyone know what the "usual" markup is for a Rolex at a pawnshop?

Well, I am no authority, however I suspect pawn shops give the seller of the item for sale, a fraction of what it is really worth and then turn around and sell it for a exuberant rate. For the pawn shop, it is free enterprise and some for some person who needs the money will take what he can get.

[MrCowboy99]

my opinions, there are some things you dont buy at pawn shops.

1. Wedding Rings
2. Diamonds
3. Rolex watches
4. Used gold dental fillings
5. Guns without checking the serial numbers

I live by that. You can choose what you'd like and best of luck!

[bewithabob]

Originally Posted by MrCowboy99

my opinions, there are some things you dont buy at pawn shops.

1. Wedding Rings
2. Diamonds
3. Rolex watches
4. Used gold dental fillings
5. Guns without checking the serial numbers

I live by that. You can choose what you'd like and best of luck!

I'm with you, especially on the dental fillings, if they have not been removed yet.

[pz93c]

Originally Posted by MrCowboy99

my opinions, there are some things you dont buy at pawn shops.

1. Wedding Rings
2. Diamonds
3. Rolex watches
4. Used gold dental fillings
5. Guns without checking the serial numbers

I live by that. You can choose what you'd like and best of luck!

Got one.
Got a few.
Haven't seen on I can live with yet.

Many, many.

[kareemthedream33]

If I found a great deal at a pawn shop I'd have no problem buying a rolex as long as I was confident in it's authenticity.

[sherwin]

And id make sure the watch i was interested wasnt in rolex's stolen watch database. wouldnt want to be unknowingly wearing someone's watch that got nicked.

[pawnshopkiller]

When we sell a Rolex watch we will meet the customer at our local AD where we have every one of our watches serviced and let them tell the customer what parts if any are aftermarket and verify the warranty that the watch has from them through us. This is how we do it I'm sure you have every possible scenario and every type of Pawnbroker out there. You should hear some of the stories about our local competition. A local builder bad mouthed a Gold Sub I had for sale because of its price and a month later I heard he had bought a 16618 from some one else that only case and movement were genuine. Funny that I found out from my watch tech because he took it to the local AD to have it verified. Last I heard he was refused a refund.

[Jan Davis]

I have seen on Ebay a few pawn shop Rolex watches and they were: main case a being a fake, or fake Rolex bracelets, or fake Rolex dials. All of them claimed to be 100%authentic Rolex watches.
When I was in Las Vegas on business trip I was curious to see the pawn shops with Rolex watches, so I investigated them and found several pawn shops with Rolex watches that were way over priced for the condition they were in, some had fakes, others lied about how old they were, telling me they were only a few years old. I would hate to see what the movements looked like.

[pawnshopkiller]

Originally Posted by Jan Davis

I have seen on Ebay a few pawn shop Rolex watches and they were: main case a being a fake, or fake Rolex bracelets, or fake Rolex dials. All of them claimed to be 100%authentic Rolex watches.
When I was in Las Vegas on business trip I was curious to see the pawn shops with Rolex watches, so I investigated them and found several pawn shops with Rolex watches that were way over priced for the condition they were in, some had fakes, others lied about how old they were, telling me they were only a few years old. I would hate to see what the movements looked like.

Las Vegas, You should have known better than to look for any kind of a deal there. They are just waiting for the next slot winner who didn't have to work for the money or the next guy who's gonna bet his pants. You can't bet your watch at the casino.--------