Buying, Selling, and Getting Loans at a Watch Pawn Shop

Pawn shops are generally willing to do a little wheeling and dealing with their customers, whether those people want to buy something in the store, sell something, or take out a loan on an item. For example, imagine someone wants to buy, sell or use a high-end watch for a collateral loan. It’s good to know some tips to get the best results, no matter what the purpose is for going to the Watch Pawn Shop.

Buying a Watch

Watches and other jewelry items usually are located in locked cases near the cashiers. Customers peruse the items through the clear secure glass or plastic and then ask to see a particular watch or two if that’s what they’re in the market for.

The shop has a price tag on the watch, but the owner will probably negotiate that price down a bit if the customer is willing to haggle. It’s worth the few extra minutes to find out whether the watch can be purchased at a cheaper price.

Selling a Watch

When a person with a high-end watch needs quick cash from a Watch Pawn Shop, selling the item is the best way to make money. If using the timepiece as collateral for a loan, the dollar amount provided is likely to be lower than for an outright sale.

The individual should do some online research and learn the current market resale prices for the item he or she wants to sell. It’s also a good idea to bring the watch to more than one shop for a quote, then choose the highest offer.

Getting a Loan

Sometimes, a person needs quick cash but doesn’t want to give up a possession. In that case, a pawn loan is advantageous. A shop such as Palisades Jewelers provides a certain amount to the borrower and holds the watch as collateral. The borrower can extend this short-term loan as often as necessary, but it’s best to pay it back as soon as possible to avoid paying the additional interest.

If the borrower decides to give up the watch, the pawn shop simply puts it up for sale. No collection activity takes place, and the individual is welcome to do business there again. More information is available at Palisadejewelers.com. You can also follow them on Twitter.

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