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The low prices offered may be a historical artefact, as pawn shops were always a great place to "fence" stolen goods.
Not saying this to offend any 2nd hand-dealers out there (as they like to be called now), just commenting on the percieved history, which is also often repeated and exagerated in Hollywood movies, popular culture etc.
Yes, for a stolen watch, you would likely get 30-50% of it's actual value...
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