Getting the Best Price for Your Items at a Pawn Shop
- Sell it Outright. Many pawn shops will offer more money if you sell an item outright rather than offer it as collateral for a loan.
- Do Your Research.
- Bring Documentation.
- Shop Around.
- Understand the Rules.
- Clean it Up.
Can you negotiate at a pawn shop?
Not only is it perfectly acceptable to negotiate a lower price on pawn shop items, most pawn shops actively expect you to do so. Typically, pawn shops will stick their merchandise with a price tag that’s a little higher than what they need you to pay for it to make a profit.
Do you get more if you sell or pawn?
The main benefit of selling is that you get a much higher value compared to pawning. If you had a watch worth $1,000, the loan you’ll get when pawning may only amount to $300. If you sell the watch, however, you may get up to $800.
How much can I get at a pawn shop?
At a pawn shop, you leave your property—the most commonly pawned items are jewelry, electronic and photography equipment, musical instruments, and firearms. In return, the pawnbroker typically lends you approximately 25% to 60% of the item’s resale value. The average amount of a pawn shop loan is about $75–$100.
What are good items to pawn?
Best Things to Pawn at a Pawnshop
- Precious Metals. Jewelry is one of the biggest moneymakers in pawnshops.
- Tablets. When you already have a computer and a smartphone, your tablet is an easy target for pawnbroker fodder.
- Power Tools.
- Collectible Coins and Currency.
- Sporting Goods.
What does the 3 balls pawn symbol mean?
The three sphere symbol is attributed to the Medici family of Florence, Italy, owing to its symbolic meaning of Lombard. This refers to the Italian region of Lombardy, where pawn shop banking originated under the name of Lombard banking. The three-ball symbol became the family crest.
How do pawn shops determine how much to give you?
Pawn shops base the value of the item on current appraised value, its current condition and the ability to sell the item. Pawnbrokers use research tools that they have at their disposal to determine an item’s value and get you the most money for the item.