How to Pawn my Watch…
020 7493 0385
Are you thinking to take ” Loan on my Watch?”
If you considered to “pawn my watch”, then at New Bond Street Pawnbrokers we offer loans on fine watches, to help you unlock its value without having to sell your watches outright – all within the comfort and security of our award-winning pawnshop in Mayfair, London.
With over 25 years of experience issuing loans on fine watches, we know how to accurately appraise, and value your watches. All our valuations are based on up to date market prices and auction estimates.
David Sonnenthal, resident expert appraiser for the beloved Channel 4 “Four Rooms” TV show leads our team of in-house experts.
The experienced fine watch and timepiece appraisal team at New Bond Street Pawnbrokers call on many years of experience in the fine watch industry to enable you to release capital by providing loans against modern, vintage and antique watches and timepieces.
The team will take into account the current market value of the watch, the manufacturer and model, condition and restoration (if appropriate), availability, age, demand for the piece and provenance.
VALUING YOUR FINE WATCH
If you consider to “pawn my watch”, we take into consideration all aspects of the current fine watch market and always offer a fair and accurate market appraisal. Our fine watch specialist department is considered the go-to when considering loans on classic and contemporary watches from manufacturers such as Patek Philippe, Rolex, Vacheron Constantin, A Lange Sohne, Breguet, Audemars Piguet, IWC, Hubolt, Cartier as well as other prestigious names.When appraising fine watches and timepieces the following points are considered:
MANUFACTURER & MODEL – Whether it’s current, rare, limited edition or discontinued, all aspects that can determine the value of your watch are taken into account by our specialist pawnbroking team.
CONDITION – Restorations, replaced parts, blemishes and dents can all affect value of a fine watch.
AGE – With vintage models, rarity and condition are considered. More contemporary models can hold higher values then slightly dated ones.
PROVENANCE – Paperwork, original bill of sale, the original box, and servicing papers are also considered.
If you have any more questions please don’t hesitate to give us a call or arrange a visit at our premises in London, Mayfair.
How do we appraise all watches?
Before pawning your fine watch, our expert team must first take the time to properly understand your watch and come to an accurate valuation. You will then be offered a loan amount based on the valuation. For us to carry out a valuation, we ask that you bring your watch in to our premises on Blenheim Street. If this is not possible, alternate arrangements can be made.
Our appraisals are based on the following factors:
There are a number of luxurious watch manufacturers around, such as Rolex, A Lange Sohne, Breguet, Audemars Piguet and Patek Philippe. Watches made by such well-known manufacturers are worth more as their reputation for building quality pieces is well-established, and they tend to hold their value much better over time. We will also look at the exact model and reference of your watch and seek to understand just how rare it is. Certain models are more valuable than others because of their age, scarcity, their association with notable people, and other factors.
The age of your watch can have a positive or negative effect on its value, with its condition and rarity being huge factors influencing this. For example, a Rolex Daytona Reference 6421 from 1969 is hugely valuable due to its age, but also thanks to its association with the actor Paul Newman, and also because the Daytona was a niche watch at the time with few units produced. However, if one of these watches is in poor condition and does not work very well, this will significantly undercut its value.
For any item we loan against watches having items such as the original box, guarantee, servicing papers and the original receipt of sale will greatly improve the worth of your watch to us.
Specialist advice and instant appraisals
Once we agreed your loan we ensure that you receive 100% of the agreed loan price. When pawning your fine watch with us, you should rest assured that we work in a private and confidential way with no credit checks, no contract fee and no hidden charges. We also ensure you achieve the maximum amount of credit possible against your fine watch. All our loans are based on current market values and auction estimates. We also offer immediate appraisals and specialist advice, supporting clients through the entire process.
New Bond Street Pawnbrokers are a discreet, luxury pawnbroking service offering loans against diamonds, fine jewellery, classic cars, fine wines, fine art, antiques, rare books, handbags, antique silver and fine watches.
How to get started
If you are looking to borrow against fine watches, then it is always recommended that you find an accredited, well-experienced pawnbroker who can give you a high-class service. New Bond Street Pawnbrokers has built up a reputation of discretion, experience, and trustworthiness over two decades of providing services to Mayfair’s clientele.
Our Blenheim Street shop is based in the heart of Mayfair. If you are looking to pawn luxury watches and want to ensure you get the highest price and a trustworthy, discreet customer experience, then come and visit us. Appointments can be made, but are not 100% necessary.
Some of the many watch brands we loan against include: A. Lange & Sohne, Breguet, Breitling, Bulgari, Cartier, Chopard, Harry Winston, Hublot, IWC, Jaeger LeCoultre, Omega, Panerai, Piaget, Richard Mille, Roger Dubuis, Tiffany, Ulysse Nardin, Urwerk, Vacheron Constantin, Van Cleef & Arpels, Audemars Piguet, Graff, Patek Philippe, and Rolex to name just a few.
*We are authorized and regulated by the Financial Conduct Authority
Frequently Asked Questions
WHAT IS THE VALUE OF MY PRE-OWNED WATCH?
The short answer to this question is: it depends! Usually, the value of a watch is determined by a range factors, which can vary over time. The re-sale or lending value of your watch doesn’t always reflect the price which was paid for it. To pawn my watch London valuers will consider variables such as: – The current demand there is for your particular make or model: watch trends change over time, so a valuer will consider whether your watch is likely to sell. – The market value: this can be determined from the valuer’s professional knowledge, the value which similar watches have fetched at auction and standard valuation data. – The condition of your watch: obviously a watch which is in immaculate condition has a higher value than one which isn’t working, or has a degree of cosmetic damage. – If you are considering taking out a loan against your watch (pawning it), the valuer will also take into account how likely it is that you will pay off the loan and retrieve your watch. The higher the valuer feels the chances are of this happening, the more likely it is that you will receive a higher offer.
HOW TO MAXIMISE THE VALUE OF YOUR WATCH
Pawn my watch for cash? A reliable method of obtaining fast cash when you need it most, pawning a watch with the right agent can really work in your favour. Obviously being confident of receiving the very best price possible is important. Follow these simple tips to make sure you optimise the value your watch can command: – Make sure that it’s in good working order. Even if it costs money initially for watch repairs, a watch that works dependably is going to command a higher price than a non-functional model, even allowing for the cost of the repairs. – Consider repair or restoration work on any cosmetic damage. Over time, almost every watch can begin to show signs of wear. In many cases, these effects can be minimised or even completely eradicated with sensitive restoration work. If you are considering this step, caution is advised! Watches may actually lose value if they are restored: buyers may prefer an older watch in original condition, even if it has some scratches or other defects. – Clean your watch before requesting a valuation. A dull or tarnished watch is unlikely to attract the same value as one in pristine condition. Taking a small amount of time to clean your watch, or arranging for it to be professionally cleaned, can mean that it fetches a higher price. – Make sure that accessories and the box (if you have it) are also included. Particularly when it comes to re-sale, a watch which still has the original box and any related accessories will have a greater value than one without these extras.
HOW DO I PAWN MY WATCH IN LONDON?
Provided you pick the right pawnbroker, pawning your watch in London can be a fast, simple and convenient process. In the first instance, take the time to pick a pawnbroker that has the necessary expertise and experience to appreciate your timepiece and value it correctly. If you own a high-end watch (for example, a Rolex, Hublot, Omega or Roger Dubuis), it’s important to find an equally premium pawnshop with whom to discuss your proposed transaction. Using a high-class pawnbroker with the specialist knowledge needed to give you an accurate, transparent variation not only means you’re more likely to realise the value your watch commands, but you can also be confident that you’re dealing with a professional company that has integrity and honesty. Licensing by the Financial Conduct Authority (FCA) is a good indicator that a company conducts financial business with its clients in a trustworthy manner.
HOW DO YOU VALUE THE CONDITION OF MY WATCH?
When considering loans on watches London valuers will make an assessment of your watch’s condition. The assessment covers three key areas: appearance (or aesthetics); function; and water resistance. – Appearance: each material that the watch is made of will have different qualities which are measured to determine condition. For example, a sapphire lens will be minutely examined for chips or tiny nicks, whilst those featuring thermoplastic crystal lenses will be inspected for scratches. Water damage, corrosion, fading, discolouration or missing parts will also be noted. – Function: to be in good functional condition, a watch needs to do far more than simply “go”! They will need to be accurate, smooth and dependable. – Water resistance: valuers have access to special dry testing equipment which can analyse the water resistance of a watch. Water resistance contributes towards the overall value of the watch.
HOW CAN I PAWN MY PRE-OWNED WATCH ONLINE?
Are you searching for a loan on my watch? To get an accurate valuation, it’s important that a valuer is able to inspect your watch in person in order to assess its condition. As a pawnshop for watches Londoners can depend on, we welcome online enquiries from prospective clients. Once we have received your message, we are pleased to offer an initial assessment. To continue the valuation, you will need to drop the watch at our premises, where we will conduct a full valuation in order to give you a fair, accurate price. This process is the quickest and easiest way if you are wondering how to pawn my watch online and receive a fair price.
DO I NEED ORIGINAL BOX AND PAPERS WHEN PAWNING MY WATCH?
Not necessarily! Clients who are able to present the original box and papers are likely to find that their valuation (and therefore potentially their borrowing transaction) is completed more swiftly, but this does not mean that papers and/or a box are necessary to proceed. We are usually able to verify the authenticity of your watch through cross-matching existing records: our expert team are trained and experienced in identifying the provenance of the watches we value, as well as able to accurately identify fake watches. An original box can add value but isn’t essential.
HOW FAST CAN I RELEASE FUNDS WHEN PAWNING MY WATCH IN LONDON?
If you are eager to access instant loans on watches, it’s possible to obtain the money you need rapidly when you use our valuing and pawnbroking service. Provided that you are happy with the assessment and comfortable with the price that we are offering you for your watch, we are usually able to complete the transaction and transfer the relevant funds to your bank account the same working day (subject to banking hours). It should be noted that whilst we are normally able to value watches on our premises within a relatively short space of time, there may be occasions when we require an additional opinion from an outside expert. We will, of course, keep you fully informed, but the necessity for further expertise on a valuation will almost inevitably lengthen the time taken to complete the process.
HOW MUCH TIME CAN I PAWN MY WATCH FOR?
In the first instance, clients agree a seven-month time frame as part of the pawning transaction. Should the interest be paid by the end of the initial seven-month period, clients are usually able to defer repayment of the original sum for a further seven months. Again, provided the interest on the loan is paid back on time, clients will usually be able to defer again. Deferment may be repeated several times in some circumstances: your broker will be happy to discuss your individual circumstances when you want to pawn my used watch for a protracted period.
WHAT BRANDS OF WATCHES DO YOU PAWN AGAINST?
As a high-end pawnbroker that specialises in exclusive brands and luxury names, we usually only accept watches from prestigious manufacturers. Besides Rolex, this list might include names such as: Patek Philippe; Rolex; Vacheron Constantin; A Lange Sohne; Breguet; Audemars Piguet; IWC; Hubolt; and Cartier. Note that this list is not exclusive. We are willing to consider less well-known, niche watch manufacturers, as well as watches which were specifically commissioned as one-off timepieces for a particular individual or occasion. If you’re not sure whether your watch is one which we might be able to offer you a loan against, please get in touch and we will be happy to advise on a case by case basis.
WHAT IS YOUR INTEREST RATE WHEN PAWNING MY WATCH AT YOUR LONDON PAWNSHOP?
The interest rate varies depending on the individual transaction. Clients can normally expect to pay up to 5%-6% interest fees, no hidden fees and auction based estimations. In order to get an idea of how that would translate into monetary terms, a loan of £12,000, repayable in seven months with an APR of 60%, will cost you £2516.86 in interest (total amount repayable: £14,516.86). All our charges and repayment rates are clearly displayed on our website and will be explained to you before you proceed with your transaction. As an FCA registered pawnbroker, we operate in a transparent, honest manner when it comes to securing loans against watches London people can trust. An established company with a long history of assisting clients who require a short-term cash injection, we are proud to provide discreet, fast access to funds when required. If you are unclear on any aspect of our charges, interest rates or other financial terms, please get in touch as we will be delighted to assist.