1. If you want to catch the attention of a Pawnbroker, think small. Items such as jewelry, a silver service piece, old firearms or artwork will grab the attention of the owner. Few Pawn Shops are equipped to deal with large items such as furniture or large decorative items or accessories.
2. Pawn Shop owners are business people, they buy what they know can easily resell, so put yourself in their shoes when it comes to judging the sales appeal of the items you wish to sell to them. Doing some due diligence on which shops to bring your items to will help increase your chances of maximizing your payout. For example, locating a Pawn Shop in an antique district may bring a better deal than a “chain” Pawn Shop. Pawn Shops that have a particular interest in certain items will also have a stronger buyer network with specific interests, making it easier for them to turn their inventory.
3. Don’t walk into a Pawn Shop with big expectations. If the Pawnbroker is unfamiliar with items you bring, they may only do some quick fact checking online before making an offer around 30% of the value of your item. It’s best to shop around and see which shop will offer you the best deal. Remember, a Pawn Shop can be a quick place to easily get cash for goods, so a Pawn Shop owner’s job is to get a good deal, too.
4. Seller’s remorse can happen. Ask the Pawnbroker how long they are legally required to hold onto an item before offering it for resale.
Pawn Shop Customer Tips:
- You should first check to see if the Pawnbroker is a member of the National Pawnbrokers Association
- If your need for cash is short-term, opt for a loan on the item. Remember that the interest rate is monthly, not annual. Fees can add up quickly if you take too long to repay the loan.