Pawnbrokers and lots of Rolex

[baldyspoon]

Anyone else see the story on the news about pawnbrokers and how the city brokers and big boys are trading in their jewellery for hard cash, and what was lining his window lots of Rolex. Funny that as when I was in the city and trying to get a discount, I was told by the AD's no discounts as city boys still buying Rolex like theres no credit crunch. I know where I am going to get my next Rolex and I think it will be fun trying to find the best deals.

[esm]

interesting. Happen to know which pawnshop has lots of rolexes?

[Hollywood Watches]

There are quite a bit down here in Houston. I mean Pawn shops not rolexes in pawn shops. and the ones that I have found when I am searching through pawn shops either turn out to be fake or they are damaged beyond repair.

[baldyspoon]

Originally Posted by esm

interesting. Happen to know which pawnshop has lots of rolexes?

Think the name of the company was TGS and they have got eight shops, and sure Rolex are genuine as coming from all the city boys.

[PalmSpringsCaVault]

We are a super small pawnshop here in socal and we get about 20 rolexes a year.







but i admit we do get them to our better customers or long term relationships.
This isnt considered shameless selfpromotion but you would be supprised what pawnshops get .

[rdrzman]

Nothing new here.... this trend is gaining steam but they are not making the cases,, instead they are turned to regulars like me and we turn them ASAP.

One shop owner I visited last week told me they had 4 times the Rolex's on loan this year! The thing making them the most money though is gold. It is so bad that a new fad of gold parties have sprung up, here is a link to a party company:

http://www.mygoldparty.com/

I would not buy a newer Rolex as an investment and would be looking on the used market for great deals because they are out there for sure!

Farel

[rdrzman]

Oh, Jewelry Vaut,

I am always looking for old Omega's, please keep me in mind if you do not have a buyer.

Farel

[RolexCat]

I like your shop, really nice. Do you get any WWII goodies? Ron

[PeterT]

I discovered a pawn broker in Torquay a couple of days ago. It had a good looking TT datejust (lug hole case) in the window for £1895. Sadly no box or papers.

PeterT

[wantonebad]

yeah if a pawn shop gets a good deal on anything, they don't turn that good deal back over to just anyone, they either sell for market value or in the case of high demend items sell for a premium or to prefered customers. Joe Schmoe off the street isn't going to get the deal of the century just cause they walked in. Correct me if I'm wrong JV guy

[PalmSpringsCaVault]

wantonebad, you are correct- its on our best interest to establish a longer term relationship with someone and reward them, altho most pawnshops are run like a snowball rolling down a hill (getting bigger and bigger as time goes on)- we have to turn items over we cant afford to sit on them for too long, with gold moving higher there is also a higher cost of business, pre sept. 11th gold was under 300.00 and oz.. its easy to buy krugerands and eagles etc all day but when they are over 1000.00 each and your first customer has 10 and wants cash ... there isnt much you can do. In my area there are at least 5 other gold buyers on the same street so we have to do our best to remain competitive, and everyone benefits. Just check them out, talk to pawnshops tell them your looking for watches leave your email and phone number you never know what you might find and its FREE to look. RDRZMAN i will keep you in mind for omegas, and we dont get much World War stuff, but thank you all for your comments.

[londonbagpuss]

So a krugerand is worth $1,000? I have one on a chain I have not worn for about 7 years.

[PalmSpringsCaVault]

Currently (4/16/2009) they are $880.00 given about a $50 dollar wide spread between bid and ask. they actually hit a high of $1140.00 a few months ago.

[londonbagpuss]

Cool, thanks for the info PalmSprings!

[renicco]

Really shop pictures are looking fabolus.But now you should try for online Pawnbroking business. It's now the fast way to get instant loan against the item you want to sell for cash.I tried it once when i was in London two months ago.At that time they had charged me 11% interest for the loan.

[dcash0615]

Thread resurrection big time...

[Widows Son]

Originally Posted by londonbagpuss

So a krugerand is worth $1,000? I have one on a chain I have not worn for about 7 years.

I just sold a couple recently for about $1200.00 each. They're worth appx what an ounce of gold is that day minus a little bit for the person doing the transaction. Apparently the pre apartheid (SP?) ones are worth a bit more. Mine were from 1978.