January 06, 2020 - Antiques, Art and Collectibles
Unfortunately, pawn shops have a negative stigma surrounding the industry. This stigma a byproduct of a few dishonest businesses. The truth is, deceptive business practices take place in every sector, in every industry. This why many are more willing to accept debilitating interest rates, credit checks, and the bureaucracy of traditional loan companies. The majority of us have hidden money lying around the house in the form of antiques. Now, with PawnGuru, you can turn these items into a collateral loan that can get you back on your financial feet!
Depending on the pawn dealer you visit and state laws in your area, you can receive an interest rate on a collateral loan anywhere from 2-14%. Obviously, the lower the interest rate, the more sense it makes to take out this loan. Interest rates from banks and other traditional loan institutions can mirror these rates and are often much higher than what you can get with a pawn loan.
Another huge incentive to pawning is there is no credit check. If your credit score is already plunging, the less hard checks on your credit report the better. Hard checks take ten years to disappear from your credit report and can be agonizingly damaging if your score is already low.
One last thing to consider when thinking about pawning antiques or any other valuable commodity is the amount of paperwork you will have to fill out. If time is of the essence, then taking off work to visit a financial institution just to fill out a monolithic amount of paperwork could be less worth it in the long run.
You can avoid all these inhibitions when you pawn your high-value antiques at a pawnshop! If you use PawnGuru, you”ll definitely know you’re getting the best deal by comparison shopping through offers. You’ll never walk into a dishonest shop or have to worry about what the competitor down the street would offer!
The nature of the pawn industry allows pawning and selling to a dealer to be a mutually beneficial decision. Many times, with a high-value, unique antique—you actually have much more leverage than the pawn dealer. Pawn dealers are under pressure to keep their inventories stocked and diversified. Even when you’re attempting to get a collateral loan you have the ‘sellers advantage’ with antiques. If you walk into a pawnshop with a Tiffany Lamp or even antique fishing lures. it’s like walking into the shop with a goldmine.
Just as with high-end art, antiques are worthy of investment. Since the artisan-crafted pieces can be hundreds of years old and have unique qualities, these pieces both appreciate and retain value. Antique furniture is especially valuable to use as collateral for a pawn loan. Modern furniture does not have the same demand antiques innately have, making these distinctive items a coveted product for pawn dealers. Getting a free appraisal on PawnGuru might shock you! Your vintage furniture which is taking up space in your living room could be worth thousands!
With such a high demand and niche market, a quality antique can be pawned for a loan anywhere from $20 to thousands. It depends on the rarity, authenticity, aesthetic appeal, condition, and market demand for your specific antique. The best way to know beyond any shadow of a doubt how much your item could be worth as collateral is to corroborate offers with PawnGuru!
PawnGuru revolutionized both the pawn industry and the financial loan industry! Before this platform was established, there were no key metrics to identify how much any single item was worth at a pawnshop. After collecting, the platform was able to conclude that there were huge disparities between pawn shops in the same city. Meaning, one shop might offer $100 dollars for a priceless antique while another shop would offer $500. Now that you can verify that you’re getting the absolute most money with the best interest rates possible, many are ditching traditional loan agencies for an easier, quicker solution.
Of course, there are still some pawnshops who choose to do ‘shady’ business. With PawnGuru, there is a rating star system and portal where users can report dealers. Whether the pawnshop is not upfront about prices or they’re just plain rude, you won’t have to go through this unacceptable service! PawnGuru ensures you’re protected through the entire process. PawnGuru offers a community to peer review each pawnshop; so, not only will do you know you’re getting the most money–you’ll know you’re doing business with people you can trust!
Using PawnGuru is amazingly simple! Just create a free listing on the site, with no obligation to pawn, sell, or buy anything. You’ll answer a few questions, so a dealer can accurately appraise your item. Then, sit back and watch emails come into your inbox within minutes. Now, all you need to do is sift through the offers and pawn your antiques for top dollar!
David Stiebel is one of the cofounders of PawnGuru. David was educated at MIT, where he studied Math. He subsequently worked at Bain as a data scientist before starting PawnGuru in 2015. He started PawnGuru to build a better tool for pawn shops and consumers to connect.More Articles