Table of Contents:
- Do Pawn Shops Take Watches?
- Where Can I Sell My Apple Watch?
- How to Pawn Your Apple Watch
- How Much Are Apple Watches Worth at a Pawn Shop?
- Pawn Your Apple Watch at The Vault Jewelry and Loan
Compared to online marketplaces, pawn shops staff professionals with extensive experience pricing and evaluating items of all kinds. They are far more likely to give you a competitive price for your valuable belongings than someone off the street. Avoid the back and forth of online messaging and low-ball offers — plus those pesky no-shows — and sell your Apple Watch at a pawn shop.
Different pawn shops have different specialties, and the professionals working in these establishments have years of experience evaluating items and negotiating mutually beneficial deals. They are also a safe, secure method of selling luxury and nonluxury items.
Apple Watches are smartwatches that do far more than tell time — users can send text messages, make phone calls, check email and use fitness apps to track their daily movement. You can even pay for things with your Apple Watch when you pair it with your credit card. This functionality and the ability to pair seamlessly with smartphones is the main draw these watches offer shoppers.
The Apple Watch’s popularity is growing along with its sales. By 2019, Apple Watch sales reached over $31 million. Apple has released eight different versions so far, but only the Series 3, Series 6 and the SE versions are available in stores. All others are officially discontinued but still available for sale in places like pawn shops and other electronics resellers.
Do Pawn Shops Take Watches?
Although most people use smartphones to tell the time, watches are still a staple fashion item that many rely on. Pawn shops accept watches and many other types of jewelry. If you have a watch and need money, consider pawning it to take out a loan against the value or sell it outright. Watches, particularly luxury brands, are in high demand and can fetch a reasonable price at a pawn shop.
Research your watch before approaching a pawn shop and collect any articles of authentication — this applies to designer watches — and look for signs of authenticity. These signs could be a stamp on the watch, a model number or a serial number. If you didn’t purchase the watch yourself, ask the gifter where they got the item.
If you can’t authenticate your watch, don’t worry. Pawn shop staff will know exactly what to look for in a real designer watch. Just approach the shop with realistic expectations. You won’t get a price equal to what the watch is worth new, but if it’s an authentic designer watch in great condition, you could get a good payout.
What Kinds of Watches Do Pawn Shops Take?
While the most desirable kinds of watches for pawn shops are those that are highly valuable and rare, you can also sell less-exclusive brand watches. Luxury brands like Cartier, Rolex and Patek Philippe will undoubtedly garner interest, but mid-range watches like Seiko and Oris may also be high sellers, depending on the market.
There is high demand for luxury watches at pawn shops as many people want designer goods for lower prices. Pawn shops are a great place to seek out these kinds of items because you’re likely to get a better deal, and you can trust the item’s quality.
Smartwatches are also on the rise in popularity, which accounts for their huge hold in the market. Apple watches are among the most popular, and brand recognition alone earns them a place in pawn shops. Off-brand smartwatches might not fetch as much value, but you can get top dollar for a mint condition Apple Watch with all or most of the accessories included. Even older models may have some market demand with collectors or Apple enthusiasts.
Do Pawn Shops Take Broken Watches?
It depends on the extent of the damage, the watch’s value and the pawn broker. If the broker knows someone who buys broken watches, they might give you a deal. If it’s made of particularly valuable material, like gold, they could certainly offer you money for it. But a pawn shop will only buy what it can sell.
If you want to get top dollar for your watch, see if it’s worth fixing. Sometimes the issue can be as simple as dirty mechanisms that, once cleaned, work like a charm. Just be sure you’ll get a return on the fixing price if you sell.
If your watch has only minor cosmetic damage that doesn’t impact performance, talk to your broker. There’s usually always a market for functional smart devices, especially at lower prices.
Where Can I Sell My Apple Watch?
You can sell your Apple Watch at a reputable pawn shop. Pawn brokers specializing in jewelry and watches will evaluate your item and give you a fair price based on its condition and current market value.
If your Apple Watch is brand new with all the original packaging and accessories, you’ll get a better price than if you’re trying to sell something you’ve used for a few years. Similarly, older Apple Watch devices that don’t hold up as well to the newer iOS updates won’t fetch as high a price as more recent releases, like the Series 5 and Series 6 watches.
If you want to sell your Apple Watch, evaluate its condition:
- Screen: The most noticeable element of an Apple Watch is the screen. Any scratches or cracks significantly depreciate its value. If the touch screen lags or doesn’t respond altogether, you likely can’t get top dollar. Some shops may not even take a watch with this kind of damage.
- Buttons: The side buttons on Apple watches can be delicate. The digital crown on the side of the watch is as essential for navigation as the touch screen, so ensuring it’s intact is crucial to get the best price.
- Metal: The outside of the Apple Watch is made of metal. While it’s more cosmetic than functional, scratched or dented metal might depreciate its resale value.
- Band: Apple watches come with standard bands, but they are customizable. If you have a band in brand-new or like-new condition, you might be able to sell it with the watch. If it looks worn, people may be less inclined to purchase a used band.
- Charger: An Apple Watch isn’t much use without a charger. While you can purchase replacements, a watch that comes with all the original accessories, including a charger in great condition, will be more valuable.
Can I Pawn a Fake Apple Watch?
It never hurts to approach a pawn broker with an item, but be prepared to be turned away if your item is a counterfeit. Most shops will not accept fakes, no matter how good the replication is. These items don’t have a good resale value, and shops could lose customer confidence and face legal ramifications if they’re caught selling counterfeit items.
Pawn brokers are professionals at identifying and assessing quality luxury goods. It’s their job, after all. But a boot out the door is the least of your worries if you’re trying to pass off a fake Apple Watch — or any other item — as genuine. It is illegal under federal law to knowingly sell counterfeit goods.
To prevent issues with authenticity, you can take your items for an independent appraisal. This could increase the item’s value to the pawn shop and may get you a better deal.
How to Pawn Your Apple Watch
Maybe you have an Apple Watch you don’t use anymore or were gifted one but need fast cash. Take your Apple Watch to a pawn shop rather than going through a lengthy sales process with an online marketplace or unreliable buyers. If you’re unfamiliar with how to pawn items, the process generally looks like this:
- Research your item: You’ll want to research to ascertain an approximate value for the watch and collect any articles of authenticity, if applicable. Establish a fair, general range you would accept for the item rather than a hard and fast price. This step is crucial, as pawn brokers expect you to negotiate.
- Consider the shop: Look into pawn shops in your area. Most have certain specialties, such as jewelry, guns, musical instruments and electronics. Select the pawn shop with a specialty most closely resembling your item.
- Discuss your watch with the broker: Approach the pawn broker with your item. From here, the broker will assess it and give you an offer.
- Negotiate the price: If the broker offers you the exact price you are looking for in the first go, you can accept the deal and get your fast cash. However, pawn brokers expect to negotiate a little with customers. You can propose a counteroffer to the first price and continue until you feel you’re getting the best possible offer. As long as you keep things respectable and fair, you and the broker will negotiate a mutually beneficial price for the item.
- Get paid: Get your money. You can receive a collateral loan, which you then pay back within a specific time frame to reclaim your item, or you can sell it outright for cash on the spot.
If you want to know how to pawn your Apple Watch, you’ll undergo the same process as any other luxury item. The pawn shop will verify it’s real and functional.
How Much Are Apple Watches Worth at a Pawn Shop?
Each version of the Apple Watch has a different price point. As with many other luxury items, the condition is of utmost importance. Most people don’t want to buy a phone with a cracked screen, and neither would someone looking for an Apple Watch. Pawn shops are focused on the item’s resale value, so any defects could significantly lower the amount you’re able to get for it. Since they are smartwatches, you also want to be mindful of their features and data or Wi-Fi connectivity.
Apple Watch Series 1 and 2 Pawn Price
Apple discontinued the Series 1 and Series 2 watches, which means they don’t have the same availability for updates as the newer models. Because they also lack many of the desirable features of newer models, like cellular data, these will be the least valuable Apple watches to sell at a pawn shop. But with original packaging, accessories and mint condition, you’ll get a decent deal if the broker thinks they can sell it to a collector or shopper looking for a simple device at a bargain price.
Apple Watch Series 3 Pawn Price
The Series 3 watch is still available on Apple’s site. Its smaller size appeals to many shoppers, and they’re available at a lower price point than the most recently released watch series. For these reasons, you can probably get a pretty good price on a like-new Series 3 Apple Watch.
Apple Watch Series 4 and 5 Pawn Price
There are a few differences between Apple’s Series 4 and Series 5 watches. They use the same processor, but the Apple Watch Series 5 has some upgrades, including an always-on display and compass. Even though Apple discontinued both of these models in stores, you can still get a fair price for them, especially if they’re in new or like-new condition. If you’re pawning your Apple Watch Series 5, you could get a slightly higher price due to its newer features.
Apple Watch Series 6 Pawn Price
As the most recently released Apple Watch series, the Series 6 release is perhaps the most valuable to pawn shops. Newly released Apple products are always in high demand, as the higher prices from retailers draw people to seek better deals at pawn shops. If you have a new Series 6 Apple Watch, pawning it is a great idea for fast cash or to get a quick loan.
Pawn Your Apple Watch at The Vault Jewelry and Loan
Life has unexpected twists and turns, and sometimes you need money quickly. While bank loans are complicated and difficult to acquire, pawn shops offer quick cash for your luxury watches. If you want fair payment for your Apple Watch, The Vault Jewelry and Loan specializes in high-value items across all brands.
Our trustworthy sales team is experienced in evaluating high-end items, and we hold transparency in high regard. We’ll carefully walk you through the process of pawning your Apple Watch and work with you to determine a fair and reasonable price that’s mutually beneficial. We offer collateral loans with competitive interest rates and no credit checks, or we can purchase the item from you outright.
If you have an Apple Watch you want to sell, contact The Vault Jewelry and Loan today to get the cash you need!
James (Jamie) F., is the manager of our Centerpointe Way location in Woodbridge, VA. With over 14 years in the pawn business, he is an expert in Diamonds, Gold, and Luxury Watches. He is fluent in Spanish and English and enjoys helping customers’ find the item they want at a great deal. Banks and Big Box stores have convinced many that new and expensive is the only way to buy. He aims to change that paradigm and provide exceptional service and quality products at a bargain price to every person who walks through our doors.