Pawn shops are an excellent place to shop for luxury watches, including Panerai designer watches. Although the main reason you should include pawn shops when shopping for any high-end item is because you may save a fortune, there are many other benefits of shopping at a pawn shop. Conversely, if you’re ready to sell a Panerai designer watch, make sure you take it to a top-reviewed pawn shop before you sell it online. You can save yourself time, hassle, and delays in waiting for payment. Read on for everything to know about buying or selling a Panerai watch at a pawn shop.
What is a Panerai Watch?
Panerai designer watches are among the world’s most coveted watches. However, unlike many of the world’s other designer watches, Panerai watches are Italian, rather than Swiss. The roots of the Italian luxury watches dates to 1860, when Giovanni Panerai opened his first watch shop and watchmaking school in Florence. By the early 1900s Panerai was manufacturing technical equipment for the Royal Italian Navy. Products included dive watches, and precision instruments.
Panerai was tapped to outfit the Royal Italian Navy because it had created Radiomir, which was a self-luminating material allowing divers to see the time underwater, and in the dark. Panerai provided the military with watches and other devices for many years.
In 1993, Panerai and its instantly recognizable luminous watches finally became available to the public. Just four years later, the Richemont Group (formerly the Vendome Group) acquired Panerai. Panerai joined the likes of brands such as Cartier, Van Cleef & Arpels, Jaeger-LeCoultre, and Piaget, and became instantly synonymous with exclusivity and sophistication.
Today, Panerai watches are known for traits such as:
- Photoluminescent material for low-glow dials and hands
- Oversized hands
- Minimal dials
- Large, cushion shape case
- Winding crown
- Oversized hour markers
Brand new Panerai designer watches may be found for around $5,000. Limited-edition Panerai designer watches may cost more than $100,000.
Why Shop for a Panerai Watch at a Pawn Shop?
It’s smart to look for luxury items at pawn shops because of the significant savings you may secure. Consider that used designer watches, handbags, sunglasses, etc., may sell for 30-40% less than the full retail price. With a high-value item like a luxury watch, this can amount to thousands in savings. For example, if you’ve found a Panerai watch you want, but the full retail price is $10,000, you may find the same barely used watch at a pawn shop for $6,000-$7,000. That’s significant savings.
Another reason to shop for exclusive items at pawn shops is because you can often find rare, limited edition, or hard-to-find brands and styles. Because pawn shops buy their inventory directly from individuals, there is no telling what a customer may bring in to sell on any given day.
If you shop from reputable, established pawnshops, you can also rely on authenticity when you buy a premium product. Pawn shops are not in the business of buying fake items, so the likelihood that you’ll purchase a knockoff is very slim.
Should I Sell My Designer Watch to a Pawn Shop?
If you have a Panerai designer watch, that you no longer want, it’s worth taking it to a pawn shop before beginning the process of finding a buyer online. Selling luxury items to a pawn shop offers benefits such as:
- Instant offer
- Fast transactions
- Immediate cash
By contrast, if you decide to try to sell your luxury watch online, you’ll have to identify the right sites to list the watch. Then you’ll have to describe the watch, photograph the watch, and determine the price. Because your watch is valuable, it can take time for anyone to take interest in the watch. In the meantime, you will likely get emails, calls, or texts from nosy, but not necessarily serious buyers. You may have to take the watch with you to show to people you don’t know. Because it’s a high-value item, keep in mind that plenty of people wouldn’t mind getting their hands on it without paying for it.
Once you find a buyer, you’ll need to insure the shipment and trust that it will arrive to its destination safely. Should the piece be lost in the mail, recovering your losses can be impossible, if not stressful. Finally, you’ll need to wait for the payment to reach your account (this also means you’ll need to have some form of online banking, or payment acceptance set up). If you’re exhausted just reading about all the steps, you’ll need to take to sell your luxury watch online, it’s probably in your best interest to take it to a pawn shop.
Before you head out with your watch, it is smart to confirm that a particular pawn shop specializes in luxury items. While some pawn shops specialize in high-end products, others may not buy or sell them.
You may also want to make sure that a particular pawn shop is a member of a respectable industry association such as the California Pawnbrokers Association. This can help you to feel comfortable knowing the shop complies with all local, state, and federal regulations pertaining to pawn shops.
If a particular pawn shop does not make you an offer that you are willing to accept, you can simply walk away and find another shop. But you won’t have wasted countless hours putting the watch up for sale online.
Buy and Sell Designer Items 7 Days a Week in Ontario, CA
Central Mega Pawn buys and sells Panerai designer watches seven days a week in Ontario, CA near Pomona and Upland. As a leading pawn shop serving the luxury market, we also buy and sell jewelry and watches from designers such as Tiffany & Co., Chanel, Harry Winston, Audemars Piguet, Breitling, Chopard and others. We are known for professional service, excellent offers, and fair pricing on luxury goods.
Central Mega Pawn is located at 11031 Central Avenue, in Ontario. For your convenience, Central Mega Pawn is open seven days a week until 6 pm. We also list many of our items in our online store that you may shop 24/7.