pawn shop & Rolex

[Omega 1120]

Originally Posted by Jan Davis

So why are you not selling on TRF? (I know the answer to this question)

My expertise is way beyond what you give me credit for.

I love to suck up to the sellers here on TRF, and I am not friends with any of them, I just know they are really great business people.

I know that Steve M is one of the best in the watch business, he is one of the most knowledgeable in the Rolex vintage stuff. Steve M is expensive however you are buying his: expertise, name, reputation, and a great watch, and that is the most important thing when dealing with Rolex watches.

For the newer Rolex watches you cannot beat: Bodybump, Mosco, DavidSW, Justrolexis, Greekbum.

The sellers that I mentioned are solid TRF members that have countless transactions without any problems. Anyone who is totally naive about Rolex watches can count on any of these honest sellers to give them a great Rolex watch without any worries at all.

[pawnshopkiller]

Originally Posted by Jan Davis

So why are you not selling on TRF? (I know the answer to this question)

My expertise is way beyond what you give me credit for.

I love to suck up to the sellers here on TRF, and I am not friends with any of them, I just know they are really great business people.

I know that Steve M is one of the best in the watch business, he is one of the most knowledgeable in the Rolex vintage stuff. Steve M is expensive however you are buying his: expertise, name, reputation, and a great watch, and that is the most important thing when dealing with Rolex watches.

For the newer Rolex watches you cannot beat: Bodybump, Mosco, DavidSW, Justrolexis, Greekbum.

The sellers that I mentioned are solid TRF members that have countless transactions without any problems. Anyone who is totally naive about Rolex watches can count on any of these honest sellers to give them a great Rolex watch without any worries at all.

Nothing I said has anything to do with me selling anything. My watches for retail sale are none of your concern neither are the vintage safe queens I keep at home. I just think it's really funny that every time anyone asks about a watch on ebay or anywhere else for that matter you try and blast the dealer or the watch or both and then refer them the TRF sellers. Correct me if I'm wrong but I haven't seen anyone asking you for a referral (that's what who's who is for) but I see you giving them even when the question is hey have you seen this watch on this website? I think we have enough TROLLS. People come here because they love Rolex not for whatever expertise you think you have. Say what you want about Pawn shops or ebay or me but expect to be called on it.

Now it's very simple. The for sale section here is great, we all know that (I have even purchased a watch there myself) but its selection is small when compared with the rest of the internet and it doesn't satisfy us, that's why we look other places, (You know you do it to). If you wanna be closed minded and dismiss ebay, pawn shops and second hand dealers as a source of pre owned watches I'm sure no one is gonna miss you. But if I had to bet you probably spend just as much time on Ebay and Vintage Rolex Dealers Websites as the rest of us.

[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.

[pawnshopkiller]

Depends. When people are loyal customers and pawn and redeem, pawn and redeem over and over again we will usually increase their loan amount because we know they are more likely to return than not. In cases like this if for some reason they don't return we are happy to just get our money back out of the watch (we make our money off of repeat customers and the finance charges they pay for borrowing money not by defaulting their property if their a day late like some shops try and do). I have seen people come and borrow a small amount on a watch and never return, never call or make any attempt at trying to redeem their watch, in this case we would just research the current market and price accordingly but of course cash is king and we will discount for it. I guess there is no guideline across the board but if you bring me a watch that's trading for ten thousand I would be happy to loan you five maybe up to seven if your a return customer with a good redemption history. Of course this only applies to Rolex and gold / platinum, nothing else is as liquid.

[eah990]

buying from a pawn shop makes me nervouse

[Omega 1120]

When I first read this post I was thinking it might be alright to buy a Rolex from a pawn shop as long as I could see the movement.

I didn't think about fake cases or bracelets.

I think I have changed my position.

I think buying from a pawn shop would also make me nervous.

[cyglee]

I suppose it really can be summarized as to who you are dealing with. I am sure there are pawnshops with integrity that provide a service and fair business to their customers. As with any profession, there are those who are driven by the fast dollar and think success is taking advantage of people. Sad, but it is too common these days.

[wdalew5]

Pawn shops are just like every other profession. Some good,some bad. As a whole, I enjoy pawn shops . I have found some nice hard to find guitars at decent prices. The best thing about the local pawn shops here in Dayton, is that they don't push anything in a hurry on you, and are always willing to have a cup of coffee with you unless other customers are in the store....just my personal experience..

[Jan Davis]

Originally Posted by Omega 1120

When I first read this post I was thinking it might be alright to buy a Rolex from a pawn shop as long as I could see the movement.

I didn't think about fake cases or bracelets.

I think I have changed my position.

I think buying from a pawn shop would also make me nervous.

An prime example of switching parts is the bracelet end pieces, authentic Rolex end pieces can run into the hundreds of dollars. A fake end piece may only cost a couple of dollars. That alone can make a hardship on someone who thinks they got a authentic Rolex watch. The authentic end pieces can be sold on Ebay for some quick cash and the person selling the watch has made a lot more money on the watch by using fake parts. I have seen this type of situation over and over again. That is why you need to have a seller with a excellent extensive client selling base, one who has been on the watch forums for years, who is trustworthy and will be there after the sale also.

[TimothyNelson]

The pawn shop here has a 7-day cash back/30 exchange policy except on power tools and video games. The YM I spoke of earlier, sold for the $5300 - Right before Memorial Day weekend. And was returned the following week. Either the buyer got yelled at by his old lady or he wore it to impress his friends. It since sold again to someone else for $4500 cash.

[TimothyNelson]

Regarding another piece, an Air-King. Fella bought it and returned same day. Went to a AD and bought a new model. Why people do certain things they do amaze me - To each their own!

[Ticking Away]

Careful, it could be a "dead man's rolex" with a lust for blood...

[patek97]

pawn shops are great i found an old patek phillipe there a long while back and pick it up for a great price,the guy figured it was to old to be worth anything,i just was very lucky or he was an idiot,anyway it was an 1950 18k gold patek
calatrava #2508 ,there are still good finds in pawn shops.

[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...

[greekbum]

I buy a lot of watches from pawn shops. I know what I am looking at etc. I will tell you during my routine checks to see what they have that there is a lot of fakes in their cases and when I point it out they say o well somebody will buy it. 1 chain has so many franken fakes it amazes me. Every store is different and there are some good deals. When buying at a pawn shop its no different than any place else selling used items you have to know what you are looking at or go buy from a seller that does and stands behind it. Most pawn shop owners know what they have and are on ebay forums etc researching current prices etc.

[GFEAR]

that price isnt that good, i just sold a new unworn no date for 3650, you can get that watch for less, a good but less if you look, and have some protection too.

[TimothyNelson]

The shop I visit has a 18k DD President that came out... but by the time I got there the owner came back in and put it back in hawk. Around $7000 if it comes out!

[chestercopperpot]

im wary of buying at pawn shops....wish i could come across a patek though! wow!

[LTM]

In my general experience with Pawn shops, they overprice their merchandise, especially Rolex watches, regardless of condition.

[TimothyNelson]

They buy low, sell high as you'd expect. But, if you come in with cash, they are much likely to drop their price. One Rolex they had in, in the case the owner did a $700 dollar loan on it. That's the amount he wanted with intent to pick up. Ended up not being able to pay the interest/pick-up... came out. It sold for about $2700... online the same piece sells for 3000+

Would it have been nice if they priced it at a "steal" since they ended up getting into it for not much money? Yes. But, I have a suspicion very few if any dealer/seller would do that. It's a business. It's worth what it's worth and what someone will pay for it.

[Bigboss]

Originally Posted by omega 1120

x2

[Onikage]

Originally Posted by greekbum

I buy a lot of watches from pawn shops. I know what I am looking at etc. I will tell you during my routine checks to see what they have that there is a lot of fakes in their cases and when I point it out they say o well somebody will buy it. 1 chain has so many franken fakes it amazes me. Every store is different and there are some good deals. When buying at a pawn shop its no different than any place else selling used items you have to know what you are looking at or go buy from a seller that does and stands behind it. Most pawn shop owners know what they have and are on ebay forums etc researching current prices etc.

Similar to selling cubic zirconia as diamonds and gold plated silver as solid gold. Preposterous!

[rolexpawn]

Originally Posted by TimothyNelson

They buy low, sell high as you'd expect. But, if you come in with cash, they are much likely to drop their price. One Rolex they had in, in the case the owner did a $700 dollar loan on it. That's the amount he wanted with intent to pick up. Ended up not being able to pay the interest/pick-up... came out. It sold for about $2700... online the same piece sells for 3000+

Would it have been nice if they priced it at a "steal" since they ended up getting into it for not much money? Yes. But, I have a suspicion very few if any dealer/seller would do that. It's a business. It's worth what it's worth and what someone will pay for it.

In this world nothing is free, on persons loss is another ones gain.

[TimothyNelson]

I don't know about all pawn shops, but the one I visit occasionally won't take in anything fake. Gold plated, non-genuine Rolex, etc, they send 'em out the door. I've seen it. They are the "biggest" chain in the state and are all over. And, if something happens to be fake by some chance, it's returnable, even beyond their return policy.

[InVision]

If you know what you are looking for and can authenticate the time piece I would not hesitate. Buy the seller, some pawn shops are MUCH better than others. I look at several local pawn shops weekly, never bought yet because the watches are "quite worn" or models which do not sell.

Bought many watches here on TRF and so far (knock knock) it seems folks conservatively grade their wears. I would buy from a reputable seller here before a pawn shop unless of course you run across an "old patek". ;-)

mike

[gwalker]

I wouldn't worry about the pawn shop stigma anymore. Most pawn shops are very legit businesses now. The owners DO know their stuff. Also don't worry about it being stolen. That is the first thing any pawn shop checks out before buying jewelry because if its stolen then they are screwed. They lose whatever they pay for the item. I have seen Rolex's in many pawn shops and a lot of the time the owners there know as much as the salesmen in a Rolex store. I would buy with caution but most really know their stuff.

[bmac11c]

Pawn shops are HIGHLY regulated by the state...at least here in Texas. All loan papers are in triplicate. One goes to the customer, one to the shop an the other to the police. If there's a serial number, you annotate it on the loan sheet.

I worked at one while going through college and we scrutinized everything we took in. There are certain questions to ask to see how someone responds...this helps to try and qualify if the item is stolen or not. We made mistakes, but we're human. Firearms, nothing was to be taken in without a serial number. We've actually had a few items confiscated from the Police department as some stereo equipment was reported stolen. Luckily the owner wrote down their S#'s. We gladly "gave it up" and the store lost the money on the loan. Oh well...it's the price of doing business.

I wouldn't have a problem buying anything from a Pawn Shop, just know the stuff you're buying.

To date, it was the most fun I've ever had at a job.

Billy Mac

[slashd0t]

Some are better than others.. Locally here it's a bit of a wash... Most stuff is horribly overpriced and you are essentially haggling to get it for market value.. If this is the case, why should I bother driving into the bad areas of town where the pawn shops are when I can just buy it online for the same price? Sometimes new!

That said, there is a Tudor Sub 9411 with box and papers for $2200 in excellent condition at one local pawn shop I have been eyeing. I'm sure I could snag it for $1800. If I hadn't just bought one for $800 I would have already picked it up!