What Items Can I Use For Collateral On My Jewelry Loan?

 

If you need fast cash but don’t want to sell your valuable jewelry, taking out a jewelry loan is an excellent option for you. Jewelry loans, also known as pawn loans or collateral loans, work by trading in gold, jewelry, or other valuable items as collateral for money. Items brought in as collateral will vary in value depending on numerous factors, which will be determined by an evaluator. Here at Watch & Wares in Tustin, we’ve compiled a list of items you can use as collateral for a jewelry loan.

Items You Can Use as Jewelry Loan Collateral

Most luxury accessories can be used as a jewelry loan collateral. The amount you may receive will vary, depending on brand, quality, and the face value of the item. Some common items we accept as collateral are, but not limited to:

Rings, Earrings, Necklaces – We determine the value of jewelry depending on the clarity, carat, cut, and color of the diamond. Typically, vintage estate jewelry will be offered more money.

Luxury Watches – Some familiar brands we offer loans on are Rolex, Zenith, Oris, Omega, Girard Perregaux, Cartier, Panerai, and much more.  

Gold – Gold itself is valuable and can be used as collateral. How much we offer will depend on its quality and weight.

Pawn Loans Versus Selling Jewelry

Taking out a pawn loan and selling jewelry can both get you fast cash for the same items. However, both options have their pros and cons that just come down to personal preference when deciding between the two.

Through Watch & Wares, jewelry loans work by issuing a 4-month loan with a ten-day grace period and an interest rate based on the loan amount. This is an excellent option for items with sentimental value that you do not want to sell off. As long as you pay back the loan accordingly, there is nothing to be worried about in regards to your jewelry loan.

When selling your jewelry, there is no financial risk involved at all since there will be no loan for you to payback. Customers typically will receive more money for the item(s), but this also means that the jewelry no longer belongs to them and the piece’s title now belongs to the buyer/shop.

Ultimately, it is a personal preference and up to the customer to decide whether or not they want to release possession of their item. Regardless of what you’d like to do, Watch & Wares offers pawn loans and buys jewelry at our Tustin location.

We are a family owned and operated licensed pawnbroker business with over 25 years of experience that you can trust. Our policy is to always treat our customers with the utmost respect, which is why all transactions are 100% confidential and discreet.

Have questions about taking out a pawn loan or how you can buy or sell jewelry? Visit our Tustin location near the intersection of Costa Mesa Fwy and East 17th street or give us a call at (714) 731-9600.

4 Signs Your Watch Needs Maintenance

Upscale timepieces are meant to last a lifetime. For you to get the best out of your watches though, it takes a little love, care, and maintenance. Here are a few signs that indicate it’s time to bring your watch into Watch and Wares for maintenance.

Indication of Moisture

It’s almost a given that your watch will come into contact with water at some point in time. If there is evidence of any moisture or condensation inside the glass of your watch when it does, or in general, it’s time to take a trip to Watch and Wares to repair your watch. If you plan on swimming with your watch, be sure to adjust the crown and ensure it is tightly secured before you enter. If you come into contact with salt water, be sure to immediately rinse your watch with fresh water and dry thoroughly with a soft cloth. Moisture can increase the risk of damage to the functionality of your watch, so taking care of the matter promptly is imperative.

Behavioral Change

If you start the notice that your second hand is skipping by a couple of seconds, it’s time to take your watch in to get serviced. When your watch starts to skip a beat, it is usually an indicator that your battery is running low. Watches that have reached this point should be taken in for an immediate inspection. Don’t wait until the watch is completely drained to take it in for maintenance. Most Quartz watches can detect when the battery voltage drops below a certain level and will notify you that it’s time for a new battery. Prolonging this replacement can cause severe consequences, such as a potential battery acid leak. From a professional standpoint, it is recommended to have your battery switched out every 1-3 years to ensure optimal use.

Mechanical watch movements, on the other hand, are powered by the energy created from the movement of the mainspring. If you’ve dropped your mechanical watch and noticed that it’s not working properly or has stopped running altogether, the impact might have caused the axle to break or become displaced – resulting in an axle replacement. Extra care also needs to be taken when adjusting the time and date on your mechanical watch. The gears inside of a mechanical watch pre-engage before the actual change at midnight. So if you are manually changing the time and date, you need to be careful in order to not break the gears that are already engaged. If you happen to accidentally break a gear, you may notice a behavior change with the hands. If this is the case, you need to take your watch in for maintenance to repair the gears and behavior of the watch.

Something Sounds Off

If you’ve accidentally dropped or hit your watch on a hard surface, it’s possible that it took on some damage. The mechanisms and movements of watches are extremely complex, and sensitive. Even the smallest of bumps can jolt the function of your watch. A clicking noise could be an indicator that your watch is in fact damaged or on the verge of something more serious. If the rotor axle is exhibiting a type of rattling noise, it can eventually interrupt the inner working elements within the watch itself – shortening its lifespan. If you start to hear an odd rattle or noise or feel like something is off, head over to a professional repair shop to get it checked out.

Loose Crown

A watch crown is an important and necessary component to any watch. They allow you to change the time and date of your watch as well as wind and stop it. Though watch crowns are built to be durable and capable of withstanding tough conditions, they are susceptible to becoming damaged due to its exposure. The crown is connected to a tiny stem that allows the watch to execute its meticulous movements. If you notice that it becomes stiff or loose or has completely lost its function, a replacement is needed. Loose crowns are a common issue and can be easily replaced.

From battery replacements to detailing services, Watch and Wares provides each and every client with the highest quality watch maintenance services in Orange County. For over 30 years, we have perfected the art of craftsmanship, providing you with the best possible repair experience in the industry. If you think your watch needs servicing, take the initiative to ensure there will be no additional damage to your precious timepiece.

Getting Jewelry Loans with Watch & Wares

A timeless piece of jewelry is a luxury. Here at Watch & Wares, we believe that one-of-a-kind pieces are worth the investment. While not everyone is ready to invest right away, we have created a jewelry loan program to best suit the needs of our customers. With multiple ways to approach your loan, we can help you find the perfect payment solution so you can walk away from Watch & Wares with your classic jewelry item.

Why choose Watch & Wares for your jewelry loan?
Watch & Wares has integrity that only 25 years of service can deliver. As a family owned and operated business, we offer quick and easy loans at competitive rates. We treat each of our customers with respect, and all transactions are discreet and confidential. We are also a licensed pawnbroker, so you can feel confident in our ability to give you the level of service you deserve.

How does it work?
We loan money for gold, jewelry, and other items, as well as loan money based on collateral. The process is simple, so there’s no miscommunication or hassle. First, Watch & Wares will evaluate your items you’d like to use as collateral. Next, we will issue a 4-month loan with a ten-day grace period and an interest rate based on the loan amount. You will then receive a ticket with all relevant loan information, at which time we will hold onto your item as collateral until you redeem your loan within its specified time. You also always have the option to renew your existing loan by paying the interest.

Should I get a pawn loan or is it beneficial to sell my item?
Depending on your particular circumstances, you might need to decide between a pawn loan or selling your item. Ultimately, this is a personal decision. If you choose to pawn an item for a collateral loan, you get the cash you need without having to give away the item for good and without a credit check. With a collateral loan, our staff works with you to determine the loan amount. Your piece stays with us until it’s time to return, repay, and collect your item.

If you find that your collateral items have sentimental value to you, collateral loans will be a better alternative for you. On the other hand, if you don’t need the item, you should consider selling since you can generally receive more money. The most beneficial part of pawning the item for a collateral loan is that you have no obligation to repay it. Because you have provided a piece to secure the loan, failing to repay doesn’t affect your credit.

Watch & Wares provides the best loan options.
Because we are a certified cash buyer and licensed pawnbroker, Watch & Wares can provide simple, secure, and confidential loans on your collateral items with no income verification or credit checks. We can appraise your items in our store with no appointment and have historically offered higher values than our other Orange County competitors. If you’re looking to invest in your next classic piece, make sure to stop by our location here in Tustin. Please contact us if you have any questions. We are here to help.