pawned my rolex the other day

[moviefreak]

I probably missed it but.. What watch did you Pawn and how much did they gave you?
How much did the seller offer to buy it for?

[vincennes02261897]

Honestly, I wouldn't worry too much about it. At this point, there isn't anything that you can do one way or another. I do wish you the best, though (with your Rolex as well as your finances).

As for reason for concern based on inventory, you'll find that much of a pawn shop's nicer inventory is on pawn so it's safe in the back away from display. They probably had no nicer jewelry around because people who put it up for pawn come back and get it.

[dsio]

Originally Posted by vincennes02261897

Honestly, I wouldn't worry too much about it. At this point, there isn't anything that you can do one way or another. I do wish you the best, though (with your Rolex as well as your finances).

As for reason for concern based on inventory, you'll find that much of a pawn shop's nicer inventory is on pawn so it's safe in the back away from display. They probably had no nicer jewelry around because people who put it up for pawn come back and get it.

Not only that, but if they've got gold jewelery or precious stones, it goes straight off to be melted, there's no point trying to sell real gold in a pawn shop right now. Any high end watches would likely be shuffled on to a watch dealer. They need their money working for them, and if its on a shelf, its not paying any interest.

The stuff on the shelves is only there because it couldn't be unloaded rapidly.

[bayerische]

I think Mr Harrison is pretty legit!

[pawnshopkiller]

Well here we go again guys. In my opinion you should never deal with someone you don't know or can't be verified bottom line. I have a very close relationship with my local AD's in house watch tech and anytime someone wants a reference he is happy to give one. That is besides the point here and I was just giving you an example of how we handle the "how do I know you won't steal the jewels in my movement" questions here at my shop. Is it possible for someone to steal your parts? Sure. They could take your links out and put aftermarket ones back in or swap your bezel for an aftermarket one. Or even worse rig an ETA movement and some how still get the date window to line up. But this is unlikely to happen if who ever your dealing isn't a gypsy fly by night broker. That just how I feel about this topic but don't get me wrong here locally I have seen frankenwatches sold with out being disclosed to the buyer. Frankenwatches have their place, not everyone can afford a watch that has 100% original parts but there should be no trickery involved and the price should be in accord with the watch. Watches are bought and sold over and over again and through out their life parts need to be replaced and if whoever is paying the repair bill opts for a cheaper replacement part then that's fine with me, I won't turn my nose up and spit like some will, I will still deal with the watch replace whats not original or if its a pretty diamond dial or bezel I will just tell my customer that it aftermarket and I have an original part if this bothers you but the watch will look different when the part is replaced.

On a different note I have seen newer cases with older movements. This is not ok with me. The movement is the heart of the watch plain and simple. I saw one last year that someone had dented the case back outward to get the movement to fit.

[pawnshopkiller]

Originally Posted by dsio

Not only that, but if they've got gold jewelery or precious stones, it goes straight off to be melted, there's no point trying to sell real gold in a pawn shop right now. Any high end watches would likely be shuffled on to a watch dealer. They need their money working for them, and if its on a shelf, its not paying any interest.

The stuff on the shelves is only there because it couldn't be unloaded rapidly.

Well we don't melt anything unless it's broken beyond repair. Since this has turned into a Pawn Shop thread here is some pic of a GOOD SHOP, (mine).

[IMG][/IMG]

[IMG][/IMG]

[IMG][/IMG]

[IMG][/IMG]

[IMG][/IMG]

[IMG][/IMG]

[IMG][/IMG]

[IMG][/IMG]

[britincali]

God I love pawn shops :) I could spend all day in that aladdins den you have!!!!!

[dsio]

Damn Roscoe... we don't have those here... the ADs aren't that big here...

[pawnshopkiller]

Originally Posted by britincali

God I love pawn shops :) I could spend all day in that aladdins den you have!!!!!

Thanks, I'm a third generation Pawnbroker, we love what we do. A fair, honest, reasonable Pawnbroker will excel this has been proven.

[MonBK]

Originally Posted by pawnshopkiller

Thanks, I'm a third generation Pawnbroker, we love what we do. A fair, honest, reasonable Pawnbroker will excel this has been proven.

2 to you Roscoe and 2 to the "experts" that don't know what they're talking about.

[buke45]

Makes sense, you have to be careful. A rolex sometimes is worth more in parts than as a whole watch.

[barstoolman]

Why are you asking these questions now......way after the fact????? And why are you asking members of this forum???? Unless we have personal knowledge of shenanigans going on at that specific Pawn Shop, how would we possible know???? Its all speculation on our parts and all paranoia and second guessing on yours.

[pawnshopkiller]

My advice is to go redeem the watch before you worry yourself to death. I have in the past given a customer money to redeem his loan somewhere else to bring it to me for a lower interest rate. Here in Florida shop can charge 25% per 30 days if they want to. We only do this on small loans. The more you borrow, the less interest we charge. Maybe another broker WITH REPUTATION will front you the money so he can assume the loan.

[pawnshopkiller]

here they are minus a couple that are out for service.

[IMG][/IMG]

[IMG][/IMG]

[IMG][/IMG]

[KarlFr]

Looks real great Roscoe and would love to see that shop. It's true what they say that Florida is the TT-Serti capitol of the world

[pawnshopkiller]

Originally Posted by KarlFr

Looks real great Roscoe and would love to see that shop. It's true what they say that Florida is the TT-Serti capitol of the world

Seems like it lately. Use to never see them, only blue and hardly ever in black.

[mtrunner]

Nice pawnshop Roscoe!

[folexhater]

Originally Posted by pawnshopkiller

here they are minus a couple that are out for service.

[IMG][/IMG]

[IMG][/IMG]

[IMG][/IMG]

Are you hiring?

[pawnshopkiller]

Sorry there is truly only one way to do it and that's to keep it in the family.

[dsio]

Originally Posted by pawnshopkiller

Sorry there is truly only one way to do it and that's to keep it in the family.

So I take it your family wear Omega's?

[pawnshopkiller]

Originally Posted by dsio

So I take it your family wear Omega's?

Like Omega yes, Wear it no.

[IMG][/IMG]

[Paulie 50]

Originally Posted by pawnshopkiller

Seems like it lately. Use to never see them, only blue and hardly ever in black.

Can i ask what the percentage is of people who dont redeem their watches.

[pawnshopkiller]

Very low. Most of my stock was out right purchased here at the shop. It is know locally that we will pay 10-15 percent more than Wingate or the SPECHT sheet. Plus these watch houses always try and knock your watches condition or say some thing is aftermarket on the watch and try and settle for less than their own quote once they have the watch. As far as a Pawn loan defaulting on a Rolex I doesn't happen very often. The last one I can think of was a TRUST FUND baby that gets $60,000 twice a year and when his money hit last time he just went and bought a new watch among other things. As far as a percent maybe 20 based on individual customers and low as 5 if you counted how many times they pawned and redeemed the same watch before loosing it.

[Paulie 50]

Originally Posted by pawnshopkiller

Very low. Most of my stock was out right purchased here at the shop. It is know locally that we will pay 10-15 percent more than Wingate or the SPECHT sheet. Plus these watch houses always try and knock your watches condition or say some thing is aftermarket on the watch and try and settle for less than their own quote once they have the watch. As far as a Pawn loan defaulting on a Rolex I doesn't happen very often. The last one I can think of was a TRUST FUND baby that gets $60,000 twice a year and when his money hit last time he just went and bought a new watch among other things. As far as a percent maybe 20 based on individual customers and low as 5 if you counted how many times they pawned and redeemed the same watch before loosing it.

Thank you, you are indeed a reputable man.

[dsio]

how'd you manage to score the badass looking shark hanging from the ceiling?

[Brushpup]

Originally Posted by pawnshopkiller

Very low. Most of my stock was out right purchased here at the shop. It is know locally that we will pay 10-15 percent more than Wingate or the SPECHT sheet. Plus these watch houses always try and knock your watches condition or say some thing is aftermarket on the watch and try and settle for less than their own quote once they have the watch. As far as a Pawn loan defaulting on a Rolex I doesn't happen very often. The last one I can think of was a TRUST FUND baby that gets $60,000 twice a year and when his money hit last time he just went and bought a new watch among other things. As far as a percent maybe 20 based on individual customers and low as 5 if you counted how many times they pawned and redeemed the same watch before loosing it.

Nice shop Roscoe, and it's really interesting reading your replies. I wish you would open an "ask the pawn insider thread" I think a lot of us would enjoy picking your brain about Rolex related stuff in the pawn world.

[LightOnAHill]

I didn't see any Daytona models in that collection. They sell right out, or do you not get very many?

[TempoKing]

Originally Posted by D-Series

i began to think:
what if the pawn shop switches out some parts and gives me back a watch with inauthentic parts?
what if they took the time to swap out the movement or any other pieces how would i know?
just as an FYI this is a jewelry pawn shop they specialize in watches and jewelery loans so i know they have the ability to take the watch apart. is there any security to these watches that would stop them from doing this and unless i see something remarkably wrong with the watch when they return it to me how would i know if anything is wrong?
regards,
D-series

You are asking the right questions..most will not do it
But does it happen - Yes it does !
What do you do if it happens.?..Nothing...send the watch for service at RSC

I would suggest to try and get your Rolex back ASAP
not because of your fears
but because of the exorbitant monthly interest charges
after a few short months the amount owed will surpass...
the value of your watch.

[pawnshopkiller]

Originally Posted by LightOnAHill

I didn't see any Daytona models in that collection. They sell right out, or do you not get very many?

Honestly I don't ever remember keeping one long enough to put it in my showcase. I sold the last two to friends, both were TT.

[vincennes02261897]

Originally Posted by dsio

how'd you manage to score the badass looking shark hanging from the ceiling?

That is a great looking shop. I cant believe how much inventory you have there! Like others have said, I do love visiting a good pawn shop from time to time.