Pawnshops don't just offer chunky, gold jewellery.

These days, you're likely to find an array of precious gems, dainty diamond earrings set in white gold and luxury timepieces from brands like Patek Phillipe, Bvlgari and Cartier in your neighbourhood pawnshop.

While Rolex watches and yellow gold jewellery still hold the best value, pawnshop operators say the variety of items accepted as pledges and those sold at the shop are changing with the times.

It isn't difficult to score a good deal if you keep your eyes peeled.

Take, for example, a white gold heart-shaped pendant which sells for $45 in the Maxi-Cash pawnshop at Bugis Village.

Second- hand luxuries look as good as new and cost a fraction of the original price.

A Rolex women's watch this reporter spotted costs about $10,000 in the pawnshop and sells for about 15 to 20 per cent more if purchased from a boutique, explains Ms Magdalene Eng, senior brand manager of the Maxi-Cash chain of pawnshops.

Parts that show signs of wear are replaced.

"Each item sold at the pawnshop goes through an intensive process of re-conditioning and re-polishing so that they look as good as new," says Ms Eng.

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