Why Delray Beach is the Best Place to Pawn and Sell Rolex Watches

Inflation is getting out of hand. If you are looking for a way to keep your head above water, pawning items of value could be the ideal solution. There are many items that may be accepted at a pawn shop, but a Rolex watch is sure to get you a great return on your investment. 

Pawn shops have gotten a bad rap in the past, so it’s important to find one you can count on to give you a fair valuation. Delray Beach Pawn is known for providing the highest valuations in the South Florida area. Read on to find out how we can help you get a great return on your Rolex watch. 

About Rolex Watches

Rolex is a British-founded Swiss watch company based in Geneva, Switzerland. It was founded in 1905 by Hans Wilsdorf and Alfred Davis. 

The company first started as Wilsdorf and Davis. They specialized in importing Swiss movement and placing them inside watches made by Dennison and others. But in time, they changed their business model and began making their own watches. 

Another update was a name change which came in 2008. They changed their company name to Rolex as it was easy to pronounce in different languages. It also fits well on the faces of watches. Wilsdorf found it to be onomatopoeic in that it sounded like a watch being wound. 

Rolex was known for bringing many innovations to the world of watchmaking. They came up with the Oyster, a waterproof and dustproof watch that provided optimal protection for the movement. 

They also invented a self-winding mechanism called the Perpetual rotor. The semi-circular plate relies on gravity to move freely. When combined with the Oyster, the watch was known as the Oyster Perpetual. 

What Rolex Models are Worth the Most Money?

Almost any Rolex watch is likely to bring in a good amount of money at a pawn shop, but some will bring in more than others. Here are some Rolex watches that are known to have high valuations. 

Oyster Perpetual

As one of the oldest names in the Rolex catalog, this watch is very much in demand. It has been updated throughout the years to feature a bigger watch face (41mm) and vibrant dial colors. Newer versions are trading for anywhere from 50% to 150% above their retail prices. 

And while newer models are seeing investment value, older watches have even more potential. The Oyster Perpetual 39 was recently discontinued and has therefore gone up in value. New Oyster Perpetual 36 models have gone up in value, but it is the older models that are really raking in the dough. 

Rolex Day Date

The Rolex Day Date is a self-winding chronometer introduced in 1956. It was the first watch to display the date as well as the day spelled out in full. It is available in 18K yellow gold, 18K white gold, and 18K Everose with case sizes of 40 mm and 36 mm. 

A new version of the Day-Date was introduced in the 1970s known as the “Stella”. It features bright dial colors such as red, orange, oxblood, blue, green, turquoise, peach, salmon, pink, yellow, and purple. 

Its bright colors did not go over well with the public. As such, it was produced in limited batches only. But today, the model is a rare piece worth a considerable amount of money. 

Submariner

The Submariner was introduced at the Basel Watch Fair in 1954. It was designed for diving. It is water and corrosion-resistant. It is the first watch to be waterproof up to 100m.

The watch received many updates over the next few years. It now features improved water resistance, new movements, and numerous cosmetic changes. The newest models have a 41mm case, considerably larger than most watches. 

Yacht-Master

The Yacht-Master was first introduced in 1992. It was inspired by the heritage that has connected Rolex to the sailing world since the 1950s. It features a regatta chronograph built for yachting competitions. 

The watch is available in various metals. It was originally released in 18K gold but other models were made of stainless steel and platinum as well as Everrose. It comes in 37mm, 40mm, and 42mm case sizes as well as a 35mm for women. It is water-resistant up to 100 meters and features a triple-locking crown system. 

GMT-Master

The GMT Master was released in 1954, the same year as the Submariner. It was the result of a joint venture with Pan American World Airways. The company requested a watch that would help pilots keep track of local and GMT time… and that’s what they got. 

The watch was later updated and the GMT-Master II was released. Unlike the original, it does not have an independently adjustable 24-hour hand. Rather, it uses the rotating bezel to set the time remotely. The bezel works with an adjustable 24-hour hand to read three time zones at once.  

Daytona

The Rolex Daytona was designed to meet the needs of racecar drivers by measuring elapsed time and calculating average speed. Its name is an homage to Daytona, FL, a city that was popular for racing in the early 20th century. It originally came out in 1963 although new series were introduced in 1988 and 2000. 

While the Daytona is worth a good amount of money, the most valuable of its kind is the ‘Paul Newman’. So named for the actor/racecar enthusiast, it was gifted to him by his wife Joanne Woodward. He popularized it by consistently wearing it throughout his racing career. Years later, the watch sold at a Phillips New York Winning Icons auction for $17.8 million. 

Should I Sell or Loan My Rolex Watch?

If you want to make money by pawning your Rolex watch, you have two options. You can sell it or you can get a loan for it.

The selling process is simple. Just go to the pawn shop with your watch. The salesperson will assess the item and make you an offer. If you are happy with the offer, you can leave with cash in hand. 

Pawning is a bit more complicated, but it’s a good way to make money with your watch without having to say goodbye to it forever. Here’s what’s involved: 

1. Bring your watch into the pawn shop. The salesperson will make you a loan offer. The offer will not equal the watch’s full value. It will be closer to 70% of what it’s worth. 
2. If you are happy with the offer, you can leave with cash in hand. 
3. Make payments to pay off the loan in accordance with the pawn shop’s terms. Most loans require you to make monthly payments which include fees and interest. 
4. If you pay off your loan, you will get your watch back. If you are unable to pay off your loan, the pawn shop will keep your watch. But the unpaid amount will never go into collections or show up as an unfavorable mark on your credit score. 

What You Should Know About Pawning Your Rolex Watch

There are certain things you should do to prepare for your pawn shop sale. These steps will ensure you will get the highest possible valuation for your watch. 

1. Use a jewelry cleaner to clean your watch. You may be surprised at how much more you can get for your item if it looks shiny and new. 
2. Make sure it’s in working order. If your watch is not working, get it repaired before you bring it in. Ensure that the battery is functioning. This will help the salesperson determine if it is running. 
3. Bring in certificates of authenticity: A certificate of authenticity will let the pawn shop know that your watch is the real deal. If you don’t have the certificate of authenticity, the original box or receipt will be helpful. 
4. Bring Along Accessories: If your watch came with any accessories, such as an extra band or a winding tool, bring those along if you still have them. 
5. Get an appraisal: If you are concerned that you might get lowballed on your watch offer, you can have the watch appraised in advance. You can also look online to see what the watch is being sold for on seller platforms. Keep in mind that the condition of the watch will affect its valuation. You are also unlikely to get an offer for the full value of your watch as the pawn shop will need to make a profit.
6. Make Sure the Store Will Accept Your Item: Not every pawn shop accepts every item. Call the pawn shop before you come in to make sure they buy and sell Rolex watches. It’s likely they will… but you never know. 

What to Look for in a Pawn Shop

Pawn shops have gotten a bad rap over the years. While some of them are reputable, others are not so transparent. So how do you know if the pawn shop you are choosing will give you a fair deal? Here are some things to look out for. 

• Customer Reviews: Most businesses today have online reviews that you can look at to determine the kind of experience you will get when you deal with them. Pawn shops are no exception. If a pawn shop has mostly good reviews, it’s likely to be a trustworthy dealer. 
• Years in Business: If a pawn shop has been in business awhile, it means it has built up a reputation for serving its community. If it’s a newer company that is affiliated with a company that has been around a while, that’s also a good sign. 
• Licensed: A business license requires a company to adhere to certain local laws. A company that’s licensed is likely to do things by the book. 
• Insured: If a pawn shop is insured, it means it will reimburse you for any items that are lost, stolen, or damaged while in their possession. 
• Good Valuations: The pawn shop should offer fair valuations for the items you are selling. 
• Fair Loan Terms: If you are loaning an item, it’s important to find a pawn shop that offers flexible loan terms and low interest rates and APRs. 
• Good Selection: Pawn shops aren’t just places where you can sell and loan items. They also stock valuable items at discount prices. It’s terrific if the pawn shop you sell to has a wide selection of affordable goods. 

Why Delray Beach Pawn Stands Out from the Competition

There are many pawn shops in the south Florida area. But if you are looking for one that offers terrific valuations, fair loan terms, and a great selection, Delray Beach Pawn is recommended. Here’s what we have to offer. 

• High Valuations: We provide the best valuations in the area hands down. 
• Fair Loan Terms: Our loan terms can be as short as one day or as long as ten years. We keep our APRs and interest rates affordable. 
• No Surprise Fees: If you get a loan with us, we will never hit you with surprise fees for early repayment or anything other matter. 
• Great Selection: We offer a wide selection of fine jewelry, luxury watches, designer handbags, firearms, and electronics, all at affordable prices. If you can’t come into our store, shop our website to have our items delivered straight to your door. 
• Great Service: Our knowledgeable sales staff will provide you with great service whether you are buying or selling. 
• Private Appointments: We understand that your finances are your business. That’s why we offer private appointments to sellers and loaners. Schedule in advance to take advantage of this option. 

A Rolex watch makes a great investment. It’s just what you need to get out of your financial rut. 

Delray Beach Pawn offers high valuations that ensure you get the most from your sale or loan. Our terrific service helps us stand out from the competition. Come into our store or visit us online to find out what we have to offer.