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Wednesday, May 13 2020
Should You Buy and Sell Luxury Watches at a Pawn Shop or an Authorized Dealer?

Rolex, Cartier, Patek Phillippe… those are just a few of the most highly-sought after brands of watches. Having one on your wrist commands attention. Not only do they look good, but they convey status, luxury, and a sense of taste.

They’re also incredibly valuable, of course.

Whether you’re in the market for a luxury timepiece or you’re looking to sell your current one, you want to get the most for your money.

Many buy and sell watches from authorized watch dealers, but pawn shops are another option. Let’s explore the benefits and drawbacks of buying and selling watches at each type of store.

Authorized Dealers

Selling

The main advantage of selling your watch at an authorized dealer is you’ll likely get a higher price. Authorized watch dealers operate exclusively in the timepiece business, so they’ll be much more interested in getting you the right price when you’re buying.

Buying

However, authorized dealers will charge a lot more for a luxury watch than a pawn shop would. Plus, you won’t be able to negotiate much with them. Maybe you can score a small discount, but you’ll still be paying close to full price.

Pawn Shops

Selling

There’s little chance you’ll get your watches full market value at a pawn shop — pawn shops have to make money, after all. Additionally, pawn brokers can’t be experts at everything. They may not be able to determine the value of your watch with 100% accuracy.

However, the selling process is a lot faster. You can walk in with your watch and walk out within the same day.

With that in mind, you’ll get a more fair offer on watches a bit below the high-end, as those have a large market. A pawn shop can more easily profit on something more “affordable” like a Fossil watch. More people can afford that watch, meaning the market is larger.

Pawn shops also let you use your watch to take out a loan if you don’t want to sell but need cash. As long as you pay back the loan plus interest in 30 days, you get your watch back.

And if you don’t, no applications or credit score dings — the pawn shop just takes possession of the watch if you don’t pay back the loan.

Buying

You can likely snag a good deal on a luxury watch from a pawn shop. Now, don’t expect to get a Rolex for a few hundred — everyone knows how much those are worth.

Lesser-known brands, however, can be had for a steal if you spend some time browsing pawn shops in your area.

Whether you’re looking for a Philadelphia pawn shop to sell your watch or buy a new one (or both), Cash Express Pawn Shop would be happy to help. Bring your watch in today, and browse our current selection.

Posted by: AT 02:36 pm   |  Permalink   |  Email
Wednesday, May 13 2020
How to Tell If Your Diamond Is Real or Fake

Diamonds are beautiful and valuable — making them the perfect target for people who want to make fakes for profit.

Fortunately, there are some tests you can run to see if a diamond is real or fake. They can be done at home and cost you a few bucks at most.

None of these tests are conclusive, but failing several of these tests is a strong indicator that you should get a diamond test kit or bring the piece to a gemologist to learn the truth.

The Loupe Test

A loupe is a magnifying glass used by jewelers to see the fine details of jewelry. Since diamonds form in nature, there are bound to be imperfections. A perfect diamond is likely fake.

This isn’t always the case, though — you may stumble across a real, perfect diamond. Lab-created diamonds are also generally flawless, yet they’re real.

However, the loupe test can still indicate that further inspection is required.

The Black Light Test

Another initial screening test you can run is the black light test. Turn off all the lights and shine a black light on your diamond. You should see a bluish fluorescence. Green, yellow, and other colors could indicate a fake.

The Heat Test

Diamonds are incredibly strong. High heat will not damage them.

To perform the heat test, fill a glass with cold water. Using plyers or fireproof gloves, heat your diamond with a lighter for about a minute, then promptly drop your stone into cold water. A fake diamond will shatter, as its components will not be able to stand the rapid expansion and contraction of heat.

The Water Test

If the heating element of the heat test makes you uncomfortable, you can still use the other half of the test to determine if your diamond is real. When dropped in water, a diamond’s high density will cause it to sink to the bottom.

If your diamond floats, however, then it isn’t a diamond at all.

The Fog Test

The fog test uses condensation to determine diamond authenticity. Condensation doesn’t stick to the surface of a real diamond.

All you have to do is hold the diamond in front of your mouth and breathe on it as if you were trying to fog up a mirror. If the condensation immediately disperses, the diamond is real. If not, it’s fake.

The Sandpaper Test

Again, diamonds are made of tough material. It’s quite hard to scratch them.

Scratch the stone in question with sandpaper. Scratches indicate your diamond is actually something else, whereas no damage indicates authenticity.

Did your diamond pass this battery of tests? You can fetch a pretty penny by pawning it. If you’re looking for a pawn shop in Philadelphia, stop by Cash Express. We love diamonds and jewelry here — we’ll get you a fair price for your piece and have the money in your hands the same day.

Posted by: AT 02:35 pm   |  Permalink   |  Email

Cash Express  • Philadelphia Pawn Shop

731 Chestnut St. Philadelphia, PA 19106 -  (215) 922-1560