Frequently Asked Questions

What are your hours?

We are open 11am - 6pm Monday to Friday, 10am - 5pm on Saturday & Closed Sunday.

If I come in to your store for a loan, how long will the process take?

If the items you bring to pledge are easy to value, the entire transaction will usually take 15 minutes or less.

Do I need to bring anything in addition to the item that will be pledged to receive a loan?

Yes. In addition to the item that you wish to pledge, you will need to bring a government issued picture ID.

How long will I have to repay my loan?

Your loan can be repaid anytime within the first month. Your loan payment will be 10% per month with an E.R.M. fee of $1.50 (minimum) to $3.00 (maximum). You may keep your pledged item with us as long as you like and are continuing to pay your monthly payments of 10% plus the E.R.M. fee.

What happens if I am unable to repay my loan?

If you would still like to receive your pledged item from us, you can extend the time of your loan by simply paying the monthly charges due. If you do not intend to repay your loan, we will put your item out for sale after a one month period. You will then owe us nothing.

Is the information about my transaction secure and confidential?

Yes. State and federal laws regulate the privacy of your transactions with us. Additionally, we have procedures in place to safeguard your information. We are, however, required to report all of our loan transactions to law enforcement, which we do electronically, to protect against property crimes and unauthorized pawns.

What type of items do you accept for collateral loans?

We accept practically any item that can be valued and stored. The most common items offered are fine jewelry, art, and collectibles.

Can I allow someone else to come in to collect my collateral loan?

Yes, anyone can pick up your loan with the original pawn ticket and payment. A pawn ticket is considered a “bearer item” in the Commonwealth of Virginia.

What happens if I lose my pawn ticket?

You can come to collect your loan with your government issued picture identification, but you should stop in with your ID as soon as you discover that your ticket is missing. This will prevent the ticket from being honored if someone else recovers it and brings it in without your consent. A $5.00 fee applies to all lost pawn tickets.

What does it cost to borrow money at The Watch & Jewelry Exchange?

Please contact us for exact borrowing cost. No matter what the amount we can be exact in the monthly fees and provide a complete breakdown.

I already have a collateral loan with you. Am I allowed to receive another?

You are welcome to have as many collateral loans with us as is necessary for your situation. You are also welcome to borrow money here if you have chosen not to repay previous collateral loans with us.

I would like to receive a collateral loan on an old watch that I inherited, but I don’t know its value. Can you help?

Yes. Our trained appraisers specialize in valuing a wide variety of merchandise. We want to be able to loan you the money you need, when you need it.

If I pledge an item, am I guaranteed to get it back when I repay my loan?

Yes. We are bound by state statute to carefully and responsibly care for your pledge while in our possession. Your items are safer in pawn than they are in your own home.

Can I sell my item to you instead of pledging it for a loan?

Yes. We will purchase most items outright if that is what you intend to do. The item would have to be something that has value and could be resold by us.