PAWNSHOPPING
Part 3 of 3

by Watchking

Go to the NAWCC Florida Mid-Winter regional and you will be stunned. In the dead of winter there are no less than 4 consecutive watch shows held in Southern Florida. For week after week, buyers and sellers come to Florida from around the world for the sun, the entertainment, but mostly for the thousands of fine watches that are available for sale.

The Southern California mid-Winter regional can be fun and the bargains can be good but the biggest California dealers go to Florida. The watches available aren't even the best bargains to be had compared to pawn shops 500 miles farther north, but the quality and sheer numbers of Patek Philippes, Langes, Vacherons, Audemars, Breguets, Blancpains and others is staggering. To see large wholesalers dealing these watches literally by the pound can make your heart beat a little faster.

This is also the place that establishes the true wholesale value for Rolex and Patek Philippe watches. Last year a nice all yellow 14kt full sized President with President band (about 5-10 years old) was wholesaling at about $7,000.- $8,200. The South American buyers bring many one-of-a-kind items from the workshops of Patek, Audemars, IWC and others. Many of the "shows" are by invitation only, so don't be disappointed if you can't get entry everywhere.

The last interesting place for pawn shops in the USA is Nevada and the Southwest. Nevada now has a number of watch fairylands but I've been buying watches in that state since 1978 when I purchased my first Elgin RR watch with (Up/down) reserve indicator. Reno, Las Vegas, Elko, Carson City, Lake Tahoe and Wendover all have pawn shops in abundance. There are deals to be had around every corner.

There are pawn shops in other parts of the world as well. Try to look for bargains in the cities where they are most likely to be found. In Belfast, Liverpool and Glasgow look for marine detent chronometers. In Italy look for Panerai. In Portugal, Northern Africa, and South America look for Omegas and Patek Philippes, but be careful of buying Rolexes in many of these places. It is difficult to get a replacement English language day wheel for a day-date Rolex or Tudor. There are even pawn shops in Australia and Asia.

As a closer, just be careful. Watch out for high quality fakes in the Caribbean and many parts of Asia. Also don't flash around too much cash wherever you shop, travelers checks are best. Establish a relationship with a few pawn brokers and you may obtain the watches of your dreams for a price you can afford.

I am reminded of a cover article in the British Horological News which told the story of one British collector whose watch collection sold for almost half a million pounds in the early 80s. The man had passed a particular pawn shop every day on his way to and from work for more than twenty years. Before World War 2 he had begun his collection by buying an unpretentious Breguet watch for about 800 pounds. As time went on he purchased a few more watches, all Breguet. One was a musical watch, one a repeater, one an astronomical perpetual calendar with reserve subdial, and one a tourbillon. In all there were six watches purchased over 25 years, the most expensive of which cost about ten thousand pounds. The entire collection sold for more than ten times what he paid for it and he had many enjoyable years with his collection as well. I found this to be very typical of the kind of bargains available if you have a buyer relationship with a pawn broker. Try to be reasonable with pawn brokers and they may make you offers you can't refuse.