There are many reasons why someone may want to sell or loan their Rolex watch. Maybe you want to make room in your collection for your holy grail watch, or maybe you want to upgrade the model. Maybe you’re in need of emergency cash, and your Rolex is a high-value asset. Whatever the reason, whether selling or loaning, there’s one thing that’s certain: you want to get the most money you can out of your Rolex. If you’re looking to get a Rolex loan and need to maximize the value of your item, here are a few tips for getting the best price possible.
Clean it thoroughly
The quickest and easiest way to increase the value of your Rolex when getting a collateral loan is to clean it. Bringing in a worn, dirty Rolex will instantly decrease its appraisal value, even if it’s in good working condition. When it comes to luxury items, it’s about more than just its functionality. Appearances are crucial to perceived value, which is why cleaning your Rolex will make it look newer and, therefore, higher in value. It will also show the buyer that you have cared for it well over its lifetime, so it’s likely to be in good operating condition. If you’re visiting a pawn shop for a watch or jewelry estimate, cleaning the item is a crucial step you need to take prior to your appointment.
Replace the band
If you’ve owned your Rolex for a long time and the band has begun to show signs of wear, it may be worthwhile to replace the band altogether before having it appraised. The band can degrade over time due to constant contact with your skin, so replacing the band can increase the value of the watch. This may not be possible if you’re looking for a Rolex loan and are in need of cash, but those seeking to sell luxury items are well-advised to take this extra step if necessary.
Find all original packaging
Of course, the bulk of a Rolex’s value lies in the Rolex watch itself. However, the packaging and fanfare that accompany it are parts of the luxury value as well. Having any original packaging such as the box or paperwork will increase the value of your item since the pawn shop will be able to prove to the next buyer that the item is authentic. You’ll still be able to sell the watch or receive a collateral loan without these items, but you likely won’t receive as high of an offer as a comparable item with its original packaging and proof of authenticity.
Do your research
There are many disreputable pawn shops that will offer you a value significantly under the true worth of your item. The best way to ensure that you receive a fair market value is to do thorough research beforehand. Look up the current retail price of your Rolex model, if it’s still being sold, and find how much secondhand models are being sold for. Having a ballpark idea of what you’re going to be offered will help you to avoid extremely low offers that are attempting to rip you off. It’s also a good idea to do research on the pawn shop that you’re planning to visit for your collateral loan appraisal. Look into their history and third-party reviews to verify that they’re a trustworthy and reputable source.
Watch & Wares has proudly served Orange County residents for more than 30 years, with consistently 5-star reviews to reflect our outstanding customer service and our commitment to excellence. If you’d like to sell luxury items or take out a collateral loan, we’re the premier choice in Southern California. Give us a call at (714) 731-9600 to inquire about a collateral loan appraisal or a jewelry estimate today. Our Tustin location can help you get the cash you need fast with some of the most competitive offers in the area.