February 13, 2020 - Electronics
Whether they’re car speakers, portable speakers, or part of an entertainment system—you can sell your speakers for tons of money.
If you’re thinking of pawning your speakers, it’s important to ensure you’re getting the best deal. It’s recommended you use PawnGuru to identify which pawn shop will give you the highest offer. The alternative to using PawnGuru is a time-consuming, burdensome process.
Here are some easy tips on getting top dollars when you pawn or sell your speakers.
Many people take advantage of using pawnshops because it’s a quick way to get money fast without permanently selling your items. When you pawn something, you don’t have to go through a credit-check that will hurt your credit score. You can get cash in your hands that day! All you need is a valid state I.D. and an item to use for collateral. You can pawn to outright sell your items.
First, you will need to organize your speakers into the best condition possible. After this, you will have your speakers appraised by various pawnshop dealers. A dealer will evaluate your speaker for defects, or conditions that maximize the speaker’s value. Usually, this involves driving to various local pawnshops and having your speakers appraised by each dealer. If you use PawnGuru you have one, simple task and get your speakers pawned that day.
Once you have found the pawnshop willing to give you the best offer, you can sell the item. If you decide to pawn the item this is also an option. Depending on state law and the parameters of your pawn contract, you will most likely have a 30-day term-length. This means you will have 30 days to make an interest payment. Or, pay your loan back in full before the dealer can sell your speakers. To learn more about the technical details behind pawning items as collateral read our article on how pawnshops work.
You’ll need to do a few things that boost the potential value of your speakers before you sell them. You’ll be glad you took the time to do this. Items of the same retail value and usage can be appraised at different values. For example, say you have a Bose speaker you want to sell. If you don’t do any minor refurbishing, you will get less than someone who cleaned, organized, and re-packaged the same exact speaker.
Bringing in dusty speakers translates into the product being disregarded while you owned it. This brings down value. Wipe down your speakers with a damp antibacterial wipe or rag. You will also want to take a compressed air duster and spray out crevices of debris. Finally, tighten any loose screws and fix loose parts.
Gather all documentation that came with the speaker. Speakers under a warranty with corresponding paperwork have a higher value. Also important are manuals. Gather the speaker’s paperwork to prove that the product is an authentic brand-device. Charging chords and other parts will also need to be assembled.
A good rule-of-thumb is the closer you can get your speakers to the original merchandise packaging, the higher the value. If you can find the original box & packaging, this will help you get more money for your speakers. Assemble the speaker and parts as close as you can to the original store-packaging. Pawnshop dealers like to see completed packages because it means they can sell the item for more money and will offer you a better deal.
One last variable that impacts how much money you can get for your speaker is where you live. Since pawnshops operate on local demand the area you live in can influence pricing.
Selling to a pawnshop is an ideal way to get money for your speakers. Instead of using auction sites or posting forums like eBay or Craigslist—that have zero or cursory payment protection and take a long time to get cash—you can sell your items at a pawnshop. With a pawnshop, you can get cash in your hand that day which is under contract. Meaning, the stipulations of the contract protect both you and the dealer. Also, with pawnshops, you can retrieve your items back if you pawn your speakers instead of selling them. In other words, you have options.
The antiquated way of selling speakers meant driving around town, speaking with various dealers for an appraisal. Once you figured out which shop will give you the best deal, you return to that shop to have a contract drawn up. This can take all day. Even ‘Googling’ pawnshops and visiting multiple sites to compare offers is a tedious project.
Jordan Birnholtz is the cofounder of PawnGuru. An alumnus of the University of Michigan, Jordan started PawnGuru in 2015 with Jon Polter, David Stiebel, and Jessica Zahnd. When he's not working at PawnGuru, Jordan volunteers his time to support undergraduates in building socially-responsible businesses and organizations through Optimize, a program at the University of Michigan.More Articles