What factors affect the value of your watch?

What factors affect the value of your watch?

Making the decision to pawn a watch can prove an effective way for you to get money quickly. While it is possible to obtain significant sums of cash by borrowing against your timepiece, it is important that you carefully consider the factors that can affect the amount you are able to obtain.

You will find that a pawnbroker will take a number of factors into account when deciding if your luxury watch - or watches - can be used as security against a loan and, how much money you could potentially get.

Perhaps one of the most critical things that will influence the value of your watch is its condition.

Perhaps it should go without saying, but ensuring that the watch actually works - most notably in terms of its prime function of being able to tell the time - is crucial. It should also be in good physical condition. You may discover that a watch that has a scratched surface and cracked face will not attract as high a price as an identical model without these defects.

A damaged strap or a broken hand could also have a considerable impact on the amount of money you can borrow against an item when pawning online.

Of course, if your watch has suffered damage to it over the years there is a chance that you may have had it repaired. However, you should be aware that if it is a particularly old watch the fact that rare vintage components have been replaced with newer ones could sometimes have a negative impact on its value.

If you still have the original box and papers that your watch first came with, you may find that it adds some value to the watch.

As a general rule, newer watches tend to have a higher value attached to them due to the demand for such models, although vintage models can also attract considerable sums of money.

Timepieces still within warranty also retain a considerable part of their value, so such items might be a good option if you are thinking about pawning your watch.

Luxury watch brands such as Audemars Piguet, Rolex, Cartier, Breitling and Patek Phillipe tend to hold their value best and therefore achieve higher loan amounts.

The serial numbers of timepieces are also checked by experts to confirm their market value. Expert valuations are then carried out to ensure their authenticity and to provide you with the highest loan value possible.

You may find that having a limited-edition timepiece or a model that is popular among celebrities or featured in films could also help to boost the sum of money you will be able to borrow against it. The Rolex Submariner, for example, has appeared in several James Bond films with the Military model often attracting sums of up to £35,000 at auction.

Being aware of the different factors that can affect the value of your watch, can also give you a good idea about how much money you will be able to borrow against it.