October 12, 2018 | 2:11 pm
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Loan against your Rolex watch

4 Tips on Getting a Loan against your Rolex watch

Rolex watches retain their value well, and their demand does not seem to falter. These branded timepieces are a regular sight in any pawn shop. Getting a loan against your Rolex watch is a good option if you are short of cash. As with any other collateral loan at a pawn shop, you can pawn your Rolex watch and raise fast money while still having the right to reclaim your luxury watch after the loan term expires or whenever you want. Although the actual value of a pre-owned Rolex timepiece depends on various factors including its rarity, age, and condition, the market price of vintage Rolex watches generally remains high. If you are looking to get a loan against your Rolex watch, have a look at the four points mentioned below that can help you in the process.

  • Know the value of your Rolex watch

In hard up conditions, you may decide to pawn your Rolex timepiece and raise the credit amount you need. But before you walk out with your pre-owned Rolex watch to opt for a pawnbroking loan, it is necessary to know the real value of your watch. These exquisite pieces of machinery never fail to create an impression, no matter how old it is or in what condition it is.

You can opt for a collateral loan from an experienced and trustworthy local pawnbroker to raise the credit amount you need. However, the loan amount that a pawnbroker will be willing to offer you will depend on the current market value of your Rolex model and other relevant factors such as the model, condition, age, materials and authenticity.

  • Step back if your Rolex watch is counterfeit

Not all Rolex watches are authentic, and it may be challenging to get a pawnbroking loan against a fake watch. Such Rolex timepieces vary dramatically in quality. While some counterfeits watches can be easily spotted by comparing it with another same watch, others require trained eyes for detecting the difference between a real Rolex watch and a fake one.

Professional pawnbrokers have years of experience in dealing with second-hand luxury watches. They can identify a counterfeit Rolex model in less than no time. A pawnbroker precisely looks at the accompanying papers of a Rolex watch and other intricate details before approving a pawnbroking loan to a customer.

Also read: 5 Tips on Pawning your Jewellery to Get the Best Price

  • Check out your watch’s condition

When you decide to get a loan against your Rolex, make sure that your timepiece is in its best possible condition. It is one of the significant factors that determine the amount of money you can obtain when getting a pawn loan on a Rolex timepiece. Rolex watches that are running smoothly and free of dents or scratches are the most valuable. Appearance may also count a lot when you opt for a loan for your Rolex. If your second-hand Rolex watch is clean and regularly serviced, you are likely to secure a high amount of cash loan against your luxury watch.

  • Get a free valuation from trustworthy pawnbrokers

If you want to pawn your Rolex, it is a good idea to get a free valuation from some of the reliable pawnbrokers in London or any other big city. Appraisals are often considered a necessity or advantage as it helps you to know the value that genuine and trustworthy buyers are likely to provide you for your watch. The process generally includes contacting the buyer over the phone or filling up an online quote form, providing all of the known details of your Rolex watch. An authentic Rolex watch dealer or a pawnbroker will provide you with an estimated valuation shortly after, usually based on the details provided and the market price. He/she may then suggest you send or bring in your Rolex watch to determine a more accurate offer price, confirming all the details provided and assessing your watch’s condition.

Getting a loan against Rolex from a trustworthy local pawnbroker is always smooth and hassle-free. If you are short of money and need to raise cash fast, bring in your Rolex timepiece to the best pawn shop in London and get an instant cash loan with no credit checks.

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