Sometimes, we get into a tight financial spot, and we have no choice but to take a trip to the pawnshop.
The good thing is, pawnshops generally like to take watches as collateral, although they won’t just take every watch you slap on their counter.
In this article, let’s see if pawnshops take watches without batteries and how we can get more money for our watches when going to the pawnbroker.
Do Pawnshops Buy Watches Without Batteries?
Pawnshops do at times take watches with dead battery, although do not expect to get good money. This is because the pawnbroker needs to verify that the watch is working.
You might be lucky if the pawnbroker is interested enough in your watch that he tries to replace the battery in your watch to verify that.
But most of the time, they will assume that the watch is not working and either offer you very little money or refuse you outright.
So it would be wise that you do your best to present the watch in its best condition before taking the trip to the pawnshop.
ALSO READ: Can You Get Cheap Watches From Pawn Shops?
How Does Watch Pawning Work?
Watch pawning works in similar ways as pawning other goods.
First, you visit a pawn shop. You present your watch to the pawnbroker, who will assess and decide on the amount of money you can borrow with it.
It might help to visit a few pawn shops at this stage to get the best offer.
Once you agree, the pawnbroker will issue you a ticket with the loan terms. Make sure you keep the ticket properly as you will need it later.
You will also receive the sum, often in cash, from the pawnbroker. The watch is now in the hands of the pawnbroker.
You now have 30 days to pay back the amount of money loaned to you, plus the interest.
The interest varies by state. Therefore, you might need to check to see if you are ok with it.
Now let’s get back to the loan repayment.
If you are unable to, you can request an extension. The pawnbroker would usually allow this, as allowed by law.
However, an extension usually comes with additional interest, further pushing up your repayment.
For example: assuming you got a $100 loan, your repayment is $120.
The pawnbroker charges another 25% interest on the repayment when you request an extension.
Now that’s $150 repayment for a $100 loan. That’s crazy!
Therefore, it’s best to pay back the loan within 30 days to avoid overpaying for your loan.
If you cannot or do not want to pay, you do not need to do anything. The agreement will expire, and the pawnshop now owns your watch.
To recover the money, the pawnbroker will sell the watch.
What Watches Get Higher Price in Pawnshops?
There doesn’t seem to be much information on this subject, as pawnshops are reluctant to divulge information. Perhaps they want to protect their business.
Those who revealed this information on their websites indicate different things here.
However, in general, most of these pawnshop websites agree that these watches get higher loans from them:
- Luxury watch bands – the more recognizable, the better. Rolexes might fetch a higher price than a Panerai.
- Watches with retro features – watches that carry retro designs seem to be more acceptable to some of these pawnshops.
- Automatic watches.
- Popular watch models – popular and well-sought after watch models are also more acceptable, regardless of price. This means a Seiko SKX007 might fetch more money than a generic Fossil.
ALSO READ: Do Pawn Shops Buy G-Shock Watches?
Tips For Getting More Money For Your Watch In a Pawnshop
These websites also advised potential customers to prepare their watches before visiting them to get higher offers.
Bring your Valid ID
This goes without saying. You cannot pawn your watch if you do not have a valid ID. This is because pawnbrokers need to have your full records.
The pawnbroker needs to submit the information of the watch they got from you to the police, to ensure that it is not a stolen good.
If it is, the pawnbroker needs to submit your information to the police.
So yes, make sure you have one on you before walking into any pawn shop. If not, you are wasting your time.
Clean The Watch Thoroughly
One of the best ways to increase the value of something is simply to clean them well. So goes with watches.
If you think about it, watches are probably one of the grossest things we keep around, aside from our phones and keyboards.
It is on your wrist the whole day. It’s in contact with your skin, absorbing sweat, dirt, and grime off you.
And you probably never really clean it properly.
To clean your watch, mix warm water with some dishwashing liquid. Use a toothbrush to gently scrub the soap to your watch, with a circular motion.
Make sure to place more attention into cleaning these parts of your watch:
- The edges there the bezel meets the crystal
- The crown and the areas around it.
- The watch lugs.
- The edges where the caseback meets the case.
If your watch has a bracelet, make sure you also properly scrub the links because it can be filthy there.
Bring In The Whole Set
One essential thing you can do to increase your watch value in the eyes of pawnbrokers is to bring in everything related to the watch.
We are talking about receipts, boxes, price tags, books, and everything that comes with the watch.
This shows the pawnbroker that he could easily resell the watch because it comes in a complete package. This gives him the confidence to offer a higher loan for you.
Plus, the pawnbroker can also confirm that you are the valid owner of the watch, especially if the original receipt bears your name.
This also reduces his concern over the watch’s origin, and he will be more ready to take your watch and loan you money.
If It’s Dead, Replace The Battery
The pawnbroker needs to check the quality of the watch you are bringing to the pawnshop before deciding whether to take your watch and offer you a loan.
If the watch is not working because of a dead battery, how will he do that?
Without the ability to confirm if the watch is working or not, the pawnbroker has little choice but to assume that it is not a working watch.
This means he would either:
Offer you very little money for your watch, or
Reject your watch and not loan you any money.
So yes, make sure you at least replace the battery to ensure the watch is in working order before visiting a pawn shop.
So, Do Pawnshops Buy Watches Without Batteries?
There you have it, some information about pawning watches.
Please ensure your watch has a working battery in it before visiting them to ensure you have the best offer from them.
It also helps if you can at least clean and bring your watch in with all its documents and accessories to maximize the money you can get for it.
We have also covered the subject of buying watches from pawn shops. If this is something you are interested in, feel free to check it out!