Know what your item is worth and what you are expecting to get for it…
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On average, most pawn shops will loan approximately one third the value against any given item or purchase for roughly two thirds of the true value.
There are many factors in determining the value such as demand, existing inventory (of a given broker), and some standard market rates for precious stones and metals. I will delve more deeply into this in a future post.
If you have a good idea of what the item is actually worth, you will know what you can actually expect to get for it. With that knowledge, you can establish a higher baseline to begin your negotiation.
And don’t forget to use Pawn Guru local search to get local competing offers for your stuff!
If you need a pawn loan, only ask for the money you NEED. If you only need to borrow $25, than don’t borrow $50 because you can. The less you take, the lower the interest fees will be.