Do you ever want to get rid of items at your house for cash but don't want to go through the process of using services like Craigslist or Facebook Marketplace? Ebay is another option, but you have to create an account and answer questions for often times days or weeks before being able to sell an item. Pawn shops are a great and efficient way to get quick cash through an established business instead of using those other tedious methods.
What Types of Items do a Pawn Shop Take?
Typically pawn shops will take almost anything of value that would be lying around a typical household. This includes electronics like video game consoles or televisions, speakers, musical instrument, tools, firearms, gold and silver jewelry and much more. In fact, many stores take different items depending on their business focus so calling can often times be helpful before carrying them over. Some stores are primarily gun shops while others may tend to focus on jewelry. Some stores are also highly specialized such as classic audio equipment or antique firearms. So, one tip of advise would be to call or email a store before going in.
How much should I expect to get for an item?
Well it is difficult to say exactly because it is highly dependent on what items you have, the condition of your item and what store you go to. For example, gold jewelry is an item that doesn't tend to lose value over time and is easier for pawn businesses to move, so you can expect to get a lot closer to the going rate than items like electronics. Depending on the item, pawn stores generally give between 30% to 70% of what the second hand resell value. Now you may be thinking that it is better for you to just sell online. If you are looking for the most money possible than often times that is true. Pawn shops will also sell items online through the same sites, so they need to make a profit as well. Where the pawn shop comes in handy is when you want to get cash quickly and not go through the hassle of fielding questions and shipping out a product. For example, if you have a video game with a $20 resell value, it may be worth someone's time to just sell to a store for $10 instead of going through other methods and possibly spending hours to do so. Stores often times will offer deals on retail if you are also selling an item. So feel free to ask about trades and see ways you can do a sell and purchase all in one place.
How Do You Use Pawn Shops Most Effectively?
Some people use pawn shops for collateral loans while others use them for getting great deals. We provided some detail above why you may want to sell an item, but we would love to hear your reasons for using a pawn business in the comments.