If you’re on the hunt for a new luxury watch, be sure you don’t run out and pay full price without shopping around. After all, you can often find a Jaeger-LeCoultre watch in excellent condition and at a significant discount at a pawn shop, if you know what you’re doing. Conversely, if you currently have a luxury watch you don’t use, and you could use some extra money, you can also find the perfect solution at a pawn shop. Intrigued? Read on for what you need to know about buying or selling a Jaeger-LeCoultre watch to a pawn shop.
What is a Jaeger-LeCoultre Watch?
Simply put, Jaeger-LeCoultre watches are exclusive, iconic Swiss watches. The brand dates to 1833 and was founded by Antoine LeCoultre. LeCoultre invented the Millionometre, which was the most precise measuring instrument in the world at the time. Today, most brand-new Jaeger-LeCoultre watches cost thousands of dollars, with the most affordable model starting at $3500. Known in elite circles as simply a “JLC,” Jaeger-LeCoultre watches are amongst the world’s most luxurious and consequently, in-demand watches.
Tips for Buying a Jaeger-LeCoultre Watch from a Pawnshop
If you’re ready to add to your watch collection, or splurge on one of the world’s most sophisticated, and valuable watches, consider buying a designer watch at a pawn shop. Just be sure to follow these tips for the best buying experience
1. Only Shop from Reputable Pawn Shops
When buying any high value item, it’s smart to shop from top-reviewed, and established pawn shops. You won’t have to worry about getting a knock-off or fake, and you won’t be dealing with amateurs who don’t recognize a great offer when they hear one.
2. Research Watch Values Before Shopping
Informed buyers are powerful buyers, and this is especially true when it comes to shopping for luxury items such as designer Swiss watches. Before you head to a pawn shop, familiarize yourself with current prices for the brand you’re interested in. That way, you’ll know what to expect when you’re in the shop. This can also help you with negotiations.
3. Visit the Pawnshop or Their Online Store Frequently
The inventory in pawnshops is changing constantly because they buy new items every day. So, if you’re looking for a luxury watch, it is smart to stop by the shop or visit their online store frequently. It is also smart to keep an eye on items you see in stock week after week. You may be able to get even bigger discounts on items that have been in stock for a long time.
4. Check for Authenticity
Reputable pawn shops don’t buy fakes, but you owe it to yourself to be a smart shopper, so be sure to look for a legible, clean Jaeger LeCoultre stamp on the watch. Another key indication that the watch is fake will be a second hand that jumps or ticks loudly.
5. Open Negotiations with a Reasonable Offer
Jaeger-LeCoultre watches are premium items, so they will command a premium price. Opening negotiations with your lowest offer will backfire. Instead, use what you know about values, and offer a percentage less than the list price. You may start with offering 75% of the sticker price. But opening with an offer of less than half what it is worth, for example will ensure you don’t leave the shop with the watch.
6. Offer to Pay with Cash Instead of a Card
Cash offers will be more seriously considered than a debit card or credit card offer. This is because the pawn shop will get charged a fee for credit cards, and it can take several days for the money to arrive in the shop’s accounts. Cash is your best bet when negotiating for a luxury item.
Tips for Selling a Jaeger-LeCoultre Watch to a Pawn Shop
If you’re ready to turn your Jaeger-LeCoultre into cash in Ontario, make sure you brush up on your negotiation skills before you head into the pawn shop. Here are 6 tips for negotiating and selling a luxury watch.
1. Gather Packaging
If you kept your watch box, and any certificates of authenticity, bring them with you. They can increase your offer, as the pawnshop will be able to sell your watch with its original packaging.
2. Clean and Confirm the Watch is Working
To show your luxury watch in its best light, make sure to wipe it down with a soft cloth. Do not use abrasive solutions or a toothbrush to clean the face as both can scratch the face. Make sure the watch is keeping accurate time as well. If necessary, have the battery replaced.
3. Know What It is Worth
A bit of online research will give you an idea of what your luxury watch is worth. But you need to remember that a pawn shop will only offer a percentage of what it’s worth. So do your research, and then remember that your offer will max out as a percentage of that worth.
4. Let the Pawnshop Make the First Offer
When showing a luxury watch to a pawnbroker, always let them make the first offer. Even with your research, it is possible you got inaccurate information.
5. Check for Similar Inventory
Before you head to the pawnshop, it is smart to look at their inventory in their online store. If a particular pawnshop you’re considering visiting has several Jaeger-LeCoultre watches, it may be best to try another pawnshop in Ontario.
6. Keep Emotions Out of Negotiations
If you’re initially offered much less than you expected or hoped to get, try to keep your emotions in check. The first offer is just a starting point, and now it’s time to make your case for why you deserve more for the item. If you feel like your watch is being completely undervalued, it may be best to take to another shop and let them make you an offer.
Buy and Sell Luxury Items in Ontario
At Central Mega Pawn in Ontario, near Pomona and Upland, we buy and sell luxury items including watches, jewelry, handbags, and sunglasses ever day. We also buy and sell brand name electronics, power tools, musical instruments, and sporting equipment.