As the luxury Swiss watch of choice for countless celebrities, Patek Philippe watches are an undeniable status symbol. It doesn’t hurt that these watches are impossible to miss. Incorporating precious metals such as rose gold, white gold, platinum, and yellow gold, Patek Phillipe watches are an investment, as they range in price from roughly $20,000 to more than $400,000. However, you can likely score a pre-owned Patek Philippe watch for much less than that.
If you’re wondering where you may be able to buy a pre-owned Patek Phillipe watch, you may be surprised to find one in an unlikely place: at a pawn shop.
What Makes a Patek Philippe Watch So Valuable?
According to many experts, Patek Phillipe watches are considered the world’s top Swiss watch designer and manufacturer. That’s the overarching reason they are so expensive. In fact, one Patek Philippe watch holds the record of the most expensive watch ever sold. It sold for almost $24 million dollars.
Other reasons these designer watches command such a high sales price include:
Patek Phillipe makes a limited number of watches each year.
- History of Excellence
Patek Phillipe first introduced high quality watches in 1839.
- Royal Clientele
Patek Philippe is often found on the wrists of kings, queens, and nobility world-wide.
- Innovation in Design
Patek Philippe watches have earned more than 100 patents in watchmaking.
- Retains Value
Patek Philippe watches retain their value, making them a great investment.
- Exquisite Design
The meticulous design and genuine artistry apparent in each Patek Philippe watch is undeniable.
- Manual Assembly
These extraordinary watches are assembled and finished manually, making the watches handcrafted.
- Seal of Quality
Patek Philippe is so committed to quality, they created their own seal of excellence, mandating that each watch they make adhere to the highest criteria of design, quality, and timekeeping.
Shopping for a Pre-Owned Patek Philippe Watch
If you’re serious about purchasing a pre-owned Patek Philippe watch, there are many online resources you can turn to. You may also find a watch from a gold dealer, or a jeweler. However, you also might just find a pre-owned Patek Phillipe watch at a pawn shop.
Why buy a pre-owned luxury watch from a reputable pawn shop? Here’s just a few of the many reasons:
All Luxury Watches Will Be Authentic
If you shop from a top-reviewed, highly reputable pawn shop, you can rest comfortably knowing that the watch you buy is authentic. After all, they wouldn’t have purchased a fake watch from a customer for a lot of money. Experienced pawn brokers authenticate all items of value before they buy them at a pawn shop.
You Will Get a Better Deal
Pawn shops generally don’t have the same overhead as other retailers. They need to make a profit off items that they purchase, but they don’t have to make as much profit as larger stores. With smaller margins, you’ll likely benefit from better pricing.
You’re Supporting a Local Business
Many pawn shops are locally owned and operated. Buying from a pawn shop puts money back into your local community.
Tips for Getting the Best Deal on a Luxury Watch at a Pawn Shop
When you head to a pawn shop to search for a Patek Phillipe or other designer watch, follow these best practices to ensure you’re satisfied with your experience.
1. Research Watch Values
Before you go to a pawn shop to find a new watch, be sure to research the values of luxury watches. It will help you to be a better negotiator negotiations if you’re familiar with how well they hold their value.
2. Have Reasonable Expectations
Your research into watch values will give you an idea of the value of a designer watch. Remember though, that Patek Phillipe watches are some of the world’s most expensive watches.
You should expect pawn shops to discount luxury watches significantly, but they won’t give them away. Pawn shops need to make a profit on items that they have purchased for others. In other words, don’t expect to get a $10,000 watch for $500. Instead, you may realistically expect a 40-60% discount.
3. Bring or be Able to Access Cash
Cash instead of a credit card is likely to get you a better price on a watch, or any other item at a pawn shop. Credit card companies charge fees to pawn shops, so if you pay cash, you can save the shop the fee. They will likely reward you with a bit of a discount.
4. Set a Budget
To avoid buyer’s remorse, even on a stunning, exclusive Swiss watch, set a budget before you go to the shop. This will prevent you from overspending and having second thoughts about an item that should bring you joy.
Don’t be afraid to try to get a better price than the pawn shop offers. Consider offering 10-15% less than the list price, and then make your case for why you should be able to buy the watch for that price.
Shop for Used Patek Phillipe Watches at Azusa Pawn
Located in downtown Azusa, Azusa Pawn is convenient to Glendora, Baldwin Park, and all other communities in the San Gabriel Valley. Azusa Pawn has a five-star rating on Google and is widely regarded as one of SoCal’s most reputable pawn shops. In addition to luxury Swiss watches, we also carry other premium items including designer jewelry, designer handbags, brand-name electronics, designer footwear, diamond, gold, silver and platinum jewelry, and much more. For your convenience we also have an online shop.
Azusa Pawn is open seven days a week from 8:30 am – 6:00 pm. As a locally owned and operated SoCal small business, we are a proud member of the California Pawnbrokers Association and comply with all state and local regulations. Our team is knowledgeable, friendly, professional, and most importantly, experienced. We buy, sell, and extend pawn loans each day.
We look forward to providing you with exceptional, professional customer service, incredible pricing, and premium items.