How to get a good deal from a pawnbroker

Patek Philippe Watches, Pawnbroking, Uncategorized Comments Off on How to get a good deal from a pawnbroker

When it comes to pawnbrokers, not all are created equal, and many will specialise in things you have no interest in, you want to go into a shop with a front counter that tempts you to buy, not one that scares you off. The reason we spend so much time writing about luxury watches and pretty things is because we want people to know that is what we do. It is not surprising, the number one way to get a good deal when you walk into a pawnbroker is if they really, really know the market.

When it comes to pawnbroking luxury watches. You need to know the market as well as the products. It’s not enough to know the product details, but who is buying what and for how much.

Tip one – Find an expert:

If you want to get new contact lenses you’d go to an optometrist, not your GP. Likewise if you wish to get a loan made against the value of your Patek, Rolex, ring or bracelet, you need an expert. You don’t need someone who knows what a Rolex is, you need someone who knows the difference in models, movement, and even colour of the face.

 

One of these watches went for £9,629,521.00 (to Brad Pitt), and one costs £59,300.00 with free delivery. The one on the left is exceptionally rare, it is hand-made with a unique chime resembling Big Ben in London. It also has three windows, day, date and month.

Tip two – High volume:

A pawnbroking loan from Hopkins and Jones is charged at 4-6% depending on the loan amount. To offer such reasonable rates, they have to spend all day, every day writing loans. You want a busy shop with lots of traffic and people. The busy shop tells you two things: one, they are happy to make a smaller profit per loan. Two, it shows that they have a good reputation with many repeat customers.

Many in the trade of second-hand luxury watches, and antique jewellery, will take a pawn-broking loan for a week or two, to purchase more stock and then claim it back. A lot of people get quite comfortable with the system once they have done it a few times and realise it is cheaper than a credit card.

Tip three – The Internet and set prices:

As a computer lover, I find it odd that many businesses are stuck in the dark ages and don’t have a simple website, let alone tools to make it easier. You want a company with online tools, and better yet, prices and testimonials right on the home page. Hopkins and Jones will give you access to an online quote request and also a loan repayment calculator, this way, you can ensure the repayments don’t break the budget.

Likewise, I like a business to state clearly what the cost will be upfront. I don’t want one price for me and another for your cousin. Set prices make it fairer for everyone and make budgeting much more manageable.

For your fast cash loan, check out Hopkins and Jones, London location.

 

 

 

 

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On August 30, 2019
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Hopkins & Jones Ltd is a trade member of The NPA (The National Pawnbrokers Association). Hopkins and Jones Limited, Company registration Number 433606. Registered Office, 7 William IV Street, London, WC2N 4DW. Hopkins and Jones Limited are authorised and regulated by the Financial Conduct Authority licence No 6520002 for the provision of pawnbroking loans.