How Much Will a Pawn Shop Pay for my Designer Watch?

How Much Will a Pawn Shop Pay for my Designer Watch?

If you are thinking about selling a designer watch that you currently own, you should carefully weigh every option. Your designer watch is valuable, and you deserve to get as much as possible for it. Chances are, you have already considered your many options on where to sell your designer watch, as well as how much you can expect to get for it at each place. However, if you have not already done so, you should seriously consider selling your designer watch at your local pawn shop.

Although how much a pawn shop will pay for a designer watch will vary on a handful of factors, which we will go into much further detail about below, every pawn shop is different. As a result, it is impossible to predict exact figures for how much a pawn shop will pay for a particular designer watch. Use these factors as a handy guide to learn how your local pawn shop will determine how much to offer for your designer watch.

Demand – Designer brands or styles that are classic or have recently come into fashion will get great offers. If your designer watch is not in high demand, your local pawnbroker may have a hard time reselling it. However, if your watch features things like diamonds, or other precious gems or metals, you can expect a high offer. You can determine how in demand your watch is by searching the brand online, as well as the make and model of your watch and seeing what people are saying about it.

Brand – Certain watch brands, like Rolex or Cartier, will always fetch a high price. This is because the brand name recognition alone provides value, and because they are known for their durability and long-lasting desirability. If you are selling a watch from any of these following brands, your local pawn shop will likely offer a high price:

  • Rolex
  • Cartier
  • Bulgari
  • Piaget
  • Patek Phillipe
  • Vacheron Constantin
  • TAG Heuer

If your watch brand is not on this list, do not despair. Other well-respected but not quite luxurious watches from designers like Fossil or Timex may still sell for a reasonable price.

Condition – Although broken or slightly imperfect designer watches will still have value, your watch’s condition is a huge factor in how much you can expect for it. The more attractive and well-maintained your watch is, the more you can expect. The easier you make it for your pawnbroker to resell your designer watch, the more interested they will be in it.

Completeness – Especially for extremely high-value watches, having the accompanying boxes, packaging, and paperwork to prove authenticity and provenance will help you get the best offer.

Precious metals and gemstones – If your watch features things like diamonds, emeralds, or other precious gems, or is made of verifiable precious metals like gold or silver, it will go for a good price.

Why sell to a pawn shop instead of other places?

Your designer watch can act as collateral for a short-term loan that you can use over and over. If you need some quick cash and aren’t one hundred percent ready to part with your designer watch just yet, you can use it to obtain a safe and confidential cash loan. When you pay back your loan, you will get your watch back, unlike other forms of selling that will force you to part with your watch forever.

Also, selling to jewelers, retail stores, or through person-to-person websites, apps and auction sites takes time and effort. Not to mention, you may run into potential buyers who pressure you to accept the lowest possible offer, or who request that you spend money to ship and insure the watch directly to them.

On the other end of the spectrum, selling your designer watch to your local pawn shop is quick and easy. No shipping, handling or insurance fees, and very little paperwork. All you need is your valid identification and your watch.

How to sell your designer watch at your local pawnshop

Although selling your designer watch to your local pawn shop is easy, we want you to get the best deal possible. Follow these guidelines to get the most attractive offer:

Do your homework – Look up recent sales of your watch to get an idea of its going rate. Determine an average price from that information, and figure on receiving about 60% or so of that price at the high end.

Gather up all the pieces – Think of your watch as the centerpiece of an ensemble. The paperwork and packaging that came with your watch will make it appealing to buyers of all kinds, from collectors to the casual fan. The more complete a package you can offer your local pawnbroker, the more they will be willing to offer.

Clean it up – You should try to make your watch look as clean as possible, especially if it’s been worn frequently. However, be warned: do not use solvents or any liquids or material that can damage the watch. You can achieve great results with a microfiber cloth and a small soft-bristled brush. The goal should be to make it look enticing when your pawnbroker puts it in their display case.

Prepare to negotiate – When you visit your local pawn shop to sell your designer watch, you should be prepared to negotiate. Any trustworthy and experienced pawnbroker will be happy to work with you to reach a price that both sides agree on. Also, if you cannot come to terms, you are always free to refuse the offer and to try elsewhere.

Thanks to our in-house jewelry expert’s services, one of only a handful of pawnshops in the country to do so, Central Mega Pawn is known throughout Southern California’s Inland Empire for offering the best prices on designer watches. Visit us today to see why we should be your number one choice when you are looking to sell your designer watch.

Where is the Best Place to Sell My iPhone X?

Where is the Best Place to Sell My iPhone X?

Whether you are looking to upgrade your phone or just need some quick cash, you might be wondering where the best place is to sell your iPhone X. As with most top of the line electronics, when it comes to selling an iPhone X, you’ll have lots of options. It will be all too easy to become overwhelmed or to go with the most straightforward option just to get it over with. Thankfully, we can help. At Central Mega Pawn, we have lots of experience buying and selling iPhones across all its generations and are well acquainted with all the options for selling an iPhone. Keep reading for a breakdown of the most popular options and learn why your local pawn shop should be at the top of your list when you need or want to sell your iPhone X.

Sell it to a buy-back service

Sellers tend to go with a buy-back service because they are quick and easy. However, services like these can be risky because they tend to be very picky about the condition. Also, because buy-back services are flooding the market, the prices they pay can vary widely. You will still need to do lots of homework to make sure that you are dealing with a buy-back service that is fair, and that will pay an acceptable price.

Trade it in for upgrade or store credit

If you are more concerned with upgrading or getting store credit than with getting your money’s worth, you can trade-in your iPhone X for credit toward a newer model or store credit. The two biggest sources of upgrade credit are currently Apple and Best Buy. Many sellers report that the trade-in value at both of these stores is fair. However, if you are looking for cash for your iPhone X, this option is not for you, because you will receive the value of your phone in the form of store credit or gift card, not in cash.

Sell it yourself online

Selling your iPhone X yourself may get you the most money, but it can be very risky. Here are some of the most popular ways to sell your iPhone X yourself online:

  • Craigslist – this site is helpful if you want cash for your phone, as many buyers there expect to pay in cash. However, the site is notorious for buyers who try to pay as little as possible and buyers who never show up once a price is agreed upon. Another potential problem is that selling here requires that you meet your buyer in person, so you should be sure to meet up in a safe, well-lit public space. Many police departments offer sections of their parking lots for in-person transactions as well. The key to selling on Craigslist is to make sure to communicate clearly with the buyer about price, condition, and expectations.
  • Facebook Marketplace – Facebook Marketplace will also get you cash for your iPhone X. Many sellers prefer this to Craigslist, as it removes the anonymity from the transaction – you can view the profile of all your interested buyers, which may lead to fewer no-shows. Also, people you are connected to on Facebook can recommend your listing to their friends, which may help you sell your iPhone X faster.
  • eBay – eBay can be a fast and safe way to sell your iPhone X, because of the buyer and seller protections. However, you must not only do lots of work to list your iPhone X, but you will also pay fees a percentage of the cost in fees, as well as a fee to PayPal. Then, you must pay for shipping and handling, hoping that your buyer does not have buyer’s remorse, as eBay is known for siding with buyers when it comes to disputes.

Sell it to your local pawn shop

Pound for pound, your local pawn shop is your best bet for selling your iPhone X. Not only is it faster and safer than selling it yourself online, but you will also get cash in hand in a matter of minutes. Your local pawn shop will offer you a fair price that you can negotiate or refuse with no questions asked. When you sell your iPhone X to your local pawn shop, you:

  • Will not pay fees – no listing or sales fees, no fees to electronic payment processing.
  • Will not pay shipping or handling – no time or money spent packing up your iPhone X, taking it to the post office and hoping it arrives in one piece.
  • Will not put your information at risk – pawn shops do not ask you for your bank account or credit card information, unlike apps or sites that require you to connect your information to receive payment.

Selling your iPhone X to your local pawn shop will get you cash in hand in a matter of minutes.

How to get top dollar for your iPhone X at your local pawn shop

Your local pawn shop will do its best to offer you the most for your iPhone X. However, there are some things to keep in mind to make it easy for your local pawnbroker:

  • Packaging – the more original packaging you can offer your local pawn shop, the easier it will be for them to resell.
  • Condition – the better the condition, the more your local pawn shop can offer. Hopefully, your iPhone X spent its time with you in a secure case and is free of scratches, dents, or other problems that will make it harder to sell. Even if it hasn’t, and has a little wear and tear, it can still get you a reasonable price. Just be prepared to show that it still works when you bring it in.
  • Do your homework – look up recent online sales for iPhone X’s in conditions similar to yours to see what you can realistically expect.

If you are the fence about selling your iPhone X, keep in mind that the best time to sell any iPhone is right now. iPhones lose value by the day, so visit us as soon as possible to turn your iPhone X into cash in minutes!

4 Vital Services Pawn Shops Provide to Their Local Communities

4 Vital Services Pawn Shops Provide to Their Local Communities

When people think about what services are truly essential to communities, many list things like grocery stores, public transportation, or schools. However, few realize that pawnshops should be included on the list. This is because pawn shops fill many essential roles in their local communities. In fact, when state and local governments enacted shelter-in-place policies to help slow down the spread of COVID-19, many pawnshops remained open because their local authorities recognize them as essential businesses. Keep reading to find out about just a few of the many vital services that your local pawn shop provides to your community.

Banking services for all

According to the Federal Reserve, over 55 million adult Americans either do not have a bank account or are underbanked, meaning that they must rely on things like payday advances and credit cards for their banking needs. Pawnshops fill that gap by providing things like loans and credit services for those who do not have access to traditional banks, all without credit checks, applications, or rejection processes. For millions of Americans, their local pawn shop is their economic lifeline. And, unlike payday advance stores, pawn shops are not predatory lenders and hold themselves to strict regulations.

Safe, fair loans

Like most other pawnshops, when members of Central Mega Pawn’s community find themselves furloughed, or otherwise without an income, they turn to us for fast, safe loans that get them the cash they need. We understand that our community is made up of good, hardworking people who find themselves in a financial pinch through no fault of their own. We are proud to offer fair, short-term loans to our neighbors.

An additional bonus of pawnshop loans is that customers cannot borrow an excessive amount of money. The loans are limited by the value of their item and have a short repayment period. This keeps our community members from getting into trouble. Compare this to predatory payday loans that force hardworking people to put all their future earnings at risk, or to credit cards, which are designed to get people to spend more than they mean to, thereby trapping people in a vicious cycle of interest and repayment that can last for decades.

Pawn shop loans are also a safe haven for people who have little, no, or bad credit. This is because a pawn shop loan does not involve a credit score in any way. There are never any credit checks for a pawn shop loan, and the loans never go on a person’s credit record. A damaged or low credit score can affect everything from housing to employment, so for those who are just starting out building up their credit history, or rebuilding their credit score, the freedom from worry about what a credit check can do to them can come as a great relief.

Making essential items available to all

Pawn shops should be your first stop when you want great prices on almost anything. In this challenging time, where people are struggling to adjust their work to provide for their families, it can be prohibitively expensive to buy essential tools and supplies to stay competitive and even entertainment.

Like many other pawn shops, the inventory at Central Mega Pawn is continuously changing, but we always have lots of items that our community members need and want. Such as:

  • Tools – workers of all stripes do not have to shell out for marked-up retail prices on tools they need to get the job done when they shop at their local pawn shop. We always have lots of hand tools and power tools to choose from, so that workers and homeowners can get back to doing what they do best.
  • Computers – work is increasingly going remote, and more and more people are looking for ways to make their living online. Instead of paying thousands of dollars to get started, people can visit us to get a laptop, computer, or other accessories at a fraction of retail price. Smart buyers who realize that they do not need the latest models can get all the equipment they need at their local pawn shop at an unbeatable price.
  • Entertainment – parents everywhere are struggling to keep their kids, and themselves, entertained during shelter-in-place orders. But, in this shaky economy facing an uncertain future, it can seem prohibitively expensive to upgrade televisions, speakers, DVD, or Blu-Ray players, to say nothing of video game consoles or video games. With their low prices on entertainment supplies, from televisions to video games of all kinds, pawn shops like Central Mega pawn make it easier to keep kids occupied and to enhance the home entertainment experience for the entire family.

An economical and safe place to buy and sell

When people choose to buy, sell, or pawn at their local pawn shop, they are choosing a much safer route than buying or selling online. People do not have to risk their safety by meeting strangers they only know through websites or person to person sales apps. When it comes to buying, customers at a pawn shop know that their pawnbrokers have done everything in their power to ensure that they are selling only legitimate items, which cannot be said about sales apps or websites.

Also, instead of paying for shipping and handling, and without having to haggle with buyers over the price, members of our community can walk into our safe, secure pawn shop, safely buy what they need, or pawn for an item for quick cash. At Central Mega Pawn, we pride ourselves on providing a safe and clean environment for all your needs.

As you can see, locally pawn shops like Central Mega Pawn provide necessary services to their community and have been doing so for hundreds of years. Central Mega Pawn is proud to be a part of the tradition that pawn shops have had in civilization. Visit us today to see how we can help you as a valued member of our community.

Top 10 Most Valuable Coins Ever Sold

Top 10 Most Valuable Coins Ever Sold

At Central Mega Pawn, we get excited whenever a rare coin finds its way into our store. Rare coins bring so much history with them, and it’s hard not to be at least a little awed. If you love buying, selling, and pawning rare coins as much as we do, keep reading for a list of some of the most valuable coins ever sold.

How we made this list

There are plenty of coins all over the world that are worth even more than the coins on this list. They are said to be priceless, because they are so rare and unique that they are housed in museums and will likely never be available to the public.

Also, sometimes national mints create unusual coins that are never sold or put into circulation. For example, Perth Mint in Australia unveiled The Australian Kangaroo One Tonne Gold Coin, which went on tour in Europe and is now on display in the Perth Mint’s collection.

So, the coins on this list have been bought and sold on the public record. It does not include priceless treasures that you can only view when they are on exhibit in a museum, coins that were never made available to the public, or coins that were sold via private arrangements.

All prices are in U.S. dollars and reflect the most recent publicized sale.

#10: 1913 Liberty Head Nickel – $3,737,500

This five-cent piece was unauthorized by the U.S. Mint, and only five are believed to exist today. The legend of these coins states that a U.S. Mint employee struck them in the middle of the night. The rarity and legend around these five coins make them one of the most sought-after pieces in American numismatics.

#9: 1804 Bust Dollar – Class I – $3,865,750

These coins were created to use as part of a diplomatic gift during a diplomat’s visit to Macau. Although the coins were struck and distributed in the 1830s, the coins themselves are stamped with the year 1804. They are comprised of around 90% gold and are often considered the “King of American Coins.” Several other classes were created of this coin, but the most valuable among them are the Class I series, which were the coins created solely for gifting purposes.

#8: $1 Million Gold Canadian Maple Leaf – $4,020,000

In 2007, the Royal Canadian Mint produced the world’s first million-dollar coin. However, that is not the coin’s only distinction: it is twenty inches in diameter, over an inch thick, and is comprised of over 220 pounds of 99% pure gold. The coin was produced to help promote the release of the Canadian Mint’s new pure one-ounce gold maple leaf coins. To date, five of these incredible gold bullion coins have been purchased by private investors.

#7: 1804 Silver Dollar – Class I – $4,140,000

Much like the 1804 Bust Dollar coin, these coins were gifted to foreign dignitaries, such as the Sultan of Muscat. It has changed hands several times since the mid-1800s and rarely appears in public auction houses.

#6. 1913 Liberty Head Nickel – $4,560,000

This particular example of the famed 1913 Liberty Head nickel series is by far the finest known example of only five specimens. This specimen has a highly mirrorlike surface in the field and is only one of the five known examples to exhibit this characteristic. However, no records exist in any mint for its production run or numbers, which is cause for controversy in the numismatics community. As a result, its grading varies wildly depending on the grader.

#5. 1787 Brasher Doubloon – “EB” on Wing – $4,582,500

These coins were minted by Ephraim Brasher, a goldsmith, and silversmith in New York City. Because the U.S. Mint did not exist at the time, colonies had to mint their own coins; as a result, private metalsmiths like Brasher contracted with colonies to strike their coins. The design of these coins is similar to the design of popular coins of the period, such as Spanish dubloons.

#4. Edward III Florin 1343 – $6.8 Million

By far the oldest coin on this list, as well as most other lists of valuable coins in the world, the age of this coin is a big part of what makes it so valuable. There are currently only three known examples of this coin left in the world. When you consider that it’s been around for over 670 years, the fact that any have been found at all makes this coin a treasure.

#3. 1787 Brasher Doubloon – “E.B.” on Breast – $7,395,000

This coin was minted in 1787 by Ephraim Brasher, a silversmith, and goldsmith in New York City, and predates the operations of the U.S. Mint. At the time of its minting, it contained about $15 worth of gold. Unlike the previous 1787 Brasher Doubloon that has the minter’s stamp on the eagle’s wing, this coin sports his mark on the breast of the eagle.

#2. 1933 Double Eagle -$7,590,020

The 1933 Double Eagle is a $20 gold coin and is one of the rarest coins in the world. Although nearly half a million coins were ordered to be minted, the stresses of the Great Depression kept them from being circulated, and all but two were ordered to be melted down. However, around 20 coins were believed to have been rescued from smelting. Nine were recovered, which leaves 13 known examples, only one of which is privately owned.

#1. 1794 Flowing Hair Silver Dollar – $10,016,875

The Flowing Hair dollar coin was the first dollar coin issued by the U.S. federal government and was minted for only two years. Its size and weight are identical to the Spanish coin of the time, which was popular for trade in the Americas. It is technically a perfect coin, especially for the time, and the most valuable examples have a mirrorlike finish that dazzles collectors. The sale of this coin for over 10 million dollars set a world record for the purchase of a single coin.

Cash Loans Near You: A Guide to Finding the Best Place Near You to Get a Loan

Cash Loans Near You: A Guide to Finding the Best Place Near You to Get a Loan

Do you need some quick cash? In these trying and uncertain times, the chances are good that you may find yourself in a financial pinch, due to no fault of your own. Regardless of the reason, be it job loss, an unexpected bill, or other, Central Mega Pawn can help when you need a loan. To help you get through the coming weeks or months of uncertainty, keep reading to find out what is the best place near you to get a cash loan.

Options for your cash loan

When you need some quick cash, there are generally several options available to you. We will list them here to give you a bigger picture of what’s out there:

  • Personal loan – this is a loan granted to you by another person, such as a friend or family member. These can be risky, as they can put a strain on a relationship.
  • Payday advance – payday advances can be dangerous because of their astronomical interest rates and lack of regulation. Far too many people get stuck in a vicious cycle when it comes to payday advance loans.
  • Cash advance – this is a service offered by most credit cards that allow you to withdraw money through an ATM or in-person at a bank to be paid back later, like any other purchase made with a credit card. Cash advances are also dangerous because they feature high-interest rates and can put your credit score at risk.
  • Bank Loan – obtaining a bank loan is another risky venture because it requires you to have significant collateral, such as your home or vehicle. Also, there can be a lengthy application process, which not only takes time but may result in you being denied the cash you need. Bank loans also put your credit at risk and may keep you from being considered from loans in the future.
  • Pawn loan – a pawn loan is one of the safest forms of loan there is. Among the many positive attributes of a pawnshop loan, you are not putting at risk any relationships with a family member or loved one, nor is your credit score in danger of plummeting.

Why get a cash loan at your local pawn shop?

Your local pawn shop is the best place near you when you need a cash loan. This is because:

  • Pawn shops are part of your community – unlike big banks, pawnshops can be flexible with interest rate and loan terms. Pawnshops like Central Mega Pawn have your best interest in mind. It is our mission to go above and beyond every time.
  • No applications or credit checks – you will not have to fill out an application, then wait for approval while your bills continue to pile up. Nor will you have to submit to a credit check. With a pawn loan, you come into our shop in need and leave with cash in hand in minutes.
  • Pawn loans are safe – a pawn shop will not loan you more money than you can realistically expect to pay back. In fact, according to the National Pawnbrokers Association, a majority of people who take out a pawn loan repay them on time. This makes it more likely that you will repay your loan and regain possession of your item.
  • Pawn loans do not affect your credit – because your pawn loan is secured by the value of an item that you own, there is no need for it to affect your credit. This is significant because a low credit score can harm your chances of qualifying for fundamental things like housing and employment.

How it works

  1. You bring us your item plus your identification.
  2. Our professionals evaluate the monetary value of your item and will offer a loan based on that value.
  3. We carefully go over the loan terms with you.
  4. Get your cash!
  5. You repay your loan and reclaim your item! If you cannot repay, we simply keep your item and resell it, with no additional penalty to you.

What kind of things can you pawn to get a cash loan?

Almost anything of value can help you get the cash you need! However, every pawn shop is as different in the community it serves. At Central Mega Pawn, we love dealing in:

Plus, so much more! The best way to get an idea of the type of items we tend to have is to visit us.

How do I pawn an item to get cash?

  • Do your homework – Before you bring us your item, do your research to find out how much you can expect it to be appraised for. You can look at recent sales on sites like eBay, or other person-to-person sites or apps.
  • Clean it up – Whatever you plan on bringing in, make it look as clean and presentable as possible. The easier you make it for us to resell potentially, the more willing we will be to offer you a loan against its value.
  • Be realistic – Once you’ve got an idea of the value of your item, figure on an offer of about 40 – 60% of that number. Most pawnshops will be willing to negotiate, but they must make a profit on every item in the shop to keep their doors open. Also, keep in mind that we will not be able to make an offer on broken, obsolete, or stolen goods.

Why is Central Mega Pawn the best choice?

For over twenty-five years, Central Mega Pawn has been the pawnshop of choice for people throughout the Inland Empire. We have the experience and resources to help you get the cash you need in minutes. We are proud to serve our community and abide by all federal and state regulations. Visit us today to see how we can help you!