Pawn Shop visit

[Hairdude1]

I have never tried buying a watch there. I can't say that I never would>

[FloridaSam]

I have bought dozens of high end watches at pawn shops. As with anything, an educated buyer can do quite well. I've never lost money on any of my deals and in most cases I've flipped or traded up quite nicely. Just know your stuff. I've seen fakes priced at $3000.00 and genunine watches priced well below market value. My best being a recent model Girard Perregaux for under $400.00. Pawn shops serve a definite purpose. No one us forced to pawn their items with EBay and fora ..sometimes life happens though.

[m j b]

I almost bought a Corvette Z06 from a guy for about $5K less than wholesale because he needed the money that day for a land deal that he was working. On his way here to sell it to me, he stopped by Carmax and got wholesale for it. So yes, people sometimes need a lot of money on short notice. As also mentioned, there are margin calls, divorces, maybe a medical emergency?

I sold some old gold jewelry (for the gold) at a pawnshop recently, and I was looking around and chatting with the guy afterwards. He said that whenever he takes in a Rolex or Breitling or similar he's got a list of guys who he calls who come and buy up whatever he's got. I would not hesitate to buy a watch from a reputable pawn shop. Heck, I'd bet you that some of the "trusted sellers" here on TRF are selling inventory from their pawn shop.

[Wolfgang427]

I've bought many Rolex watches at different Pawn shops and all were a good/great deal... People go to pawn stuff for many reasons, primarily cause they need cash fast, I hold no judgement on them as you got to do what you have to do when there's no other way to raise fast cash.

[rolio]

Draw down the price at an AD when a piece has been sitting there for a while.

[scarab007]

I have never seen so many post start with "my friend" HAHAH..love it. Dude, go buy the watch and show some pics.

[jay1988]

People seem to forget how well a Rolex holds its value. If I was a seller/shop owner I would not be taking low ball offers unless I was in desperate need of capital. If I stick it in a safe for a year or two I can still get a good price for it.

[dalip]

It's all relative....some would say you're mad to buy a Rolex across the Internet

And we all know that the answer is "buy the seller".

So....do your homework on this particular place. Check out the watch fully. If you can get a good deal go for it.

As for the reasons for using a pawnshop.....Well it's for those who need cash fast with no fuss. There's never going to be a great reason for taking a big hit when doing so.

[mrbill2mrbill2]

You must understand that pawn shops do no operate under retail standards we are used to. They can
and do charge interest rates far above retail establishments. They do not mark up what they paid by a pre-established percentage rate. They sell at fair market value.

[Megalobyte]

Originally Posted by z32turbo

Need cash and can't get a traditional loan.

And maybe he couldn't get a hold of JG Wentworth...