Pawn broking ... if I had just bought a £5k Jaeger Le Coultre watch, what would they generally give me for it?

Question

I have no intention of doing so, I am just wondering how the business works. Do they give me 1/5th of the value, half the value ... I am just wondering

thanks

Answer 1

each one is different ...they give you what they think its worth

Answer 2

they are all different and if they think you are desperate for the cash theyll offer you the lowest possible price for it. i think youd be lucky to walk away with £500

Answer 3

Slightly less than what they think they could easily sell it for. You are probably about right £1k. If you come back with the grand they give you the watch, if not they make a couple of grand, easy money. They know the punters are desperate else they wouldn't be in the pawnbrokers.