How Pawn Shops Determine Value in Jacksonville FL?

February 07, 2020 - Pawn Resources

No matter how much money you have, the items you’re looking to sell, we know you have one question on your mind.

How do pawn shops determine value when it comes to the goods that they’re interested in buying or selling?

Especially if you’re new to the pawning lifestyle, we understand that it can be a challenge to figure out how do pawn shops value items in Jacksonville, FL?

Keep on reading this post to get your questions answered — and to make sure you get a fair price.

How Do Pawn Shops Determine Value?

So, how do pawn shops price items that people bring in to sell to stores in Jacksonville, FL?

There are a few different factors, but it’s important to remember that pawnbrokers aren’t there to cheat you — at least, the good ones aren’t, anyway.

Instead, they’re there to help make sure that both you and them walk away with a great deal.

To that end, they rely heavily on their industry experience. They know exactly how much an ounce of gold or silver is valued at in today’s market. They’re aware of the value of certain precious stones or gems, and how much the cost of each karat is.

They even know the value of pieces from certain periods of history, and how the stories behind them can influence the price.

They also conduct independent research in databases and even on online forums to determine the value of items. They can even use places like Gilt or The RealReal to help them get the price range of art, books, and other, less common items.

This is also helpful when it comes to authenticating items that are brought in.

Finally, remember that they also have some serious industry connections.

In some cases, they’ll need to speak with antique dealers, gemologists, appraisers, and other professionals who can help them to give you the right price.

One thing that’s more difficult to quantify?

The sentimental value of an item. This will likely require an honest conversation between the seller and the potential buyer.

In some cases, especially if a celebrity is involved, the item may even need to be sent away for further authentication.

Be sure you’re truly ready to part with these items.

Looking to Pawn an Item in Jacksonville, FL?

Now that you know the answer to the question, “How do pawn shops determine value?”

Perhaps you’re ready to start pawning a few items of your own in Jacksonville.

Before you strike out on our own, make sure to visit our website.

First of all, our blog is full of even more tips on how pawn shops determine value, and which items you own will likely fetch you the most cash.

Additionally, use our free tool to help you to field multiple offers from pawnbrokers in your area. You describe your item, compare the offers, and then bring it in to the shop where you got the best deal.

We can’t wait to help you get the extra income that you need.

David Stiebel
David Stiebel

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.

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