Pawn shops are one of the best ways to make some quick money when you need it now.
It’s a $6 billion industry for a reason.
They don’t require you to wait for sales to be processed or items to be shipped. Instead, all you need to do is bring in what you want to get rid of and walk out with a thicker wallet.
However, there are steps you should take to make sure you get as much cash as possible. For example, a Boston pawn shop may value different items than one in another city. Different items have different values depending on where you are.
You should also make sure the items you want to sell are clean functional. Pawn shops keep track of who they can trust. If you bring in something that doesn’t work, your reputation with them may fall and you will find it harder to pawn things down the line.
Keep reading below for tips on how to make the most money in a pawn shop!
Know Your Market
The first step you should take before you even gather the items you want to sale is to research your market. A Boston pawn shop will likely have a higher supply of something that one in Cambridge won’t. Since different stores have different supplies, they value items differently.
You should walk into a few pawn shops in different areas and browse their selections. By doing this, you can get a sense of what items are common and what is rarer. Items pawn shops don’t see often will fetch a higher price.
Collect and Research Your Items
After researching your market, you should collect the things you want to sell. Before you bring them to a pawnbroker though, you should do a little research of your own. The pawnbroker will research the price of your items on their own and will try to snag it at a discount so they can make a profit.
If you go into a pawn shop with a clear sense of what your items are worth, you’re more likely to walk out with the money you deserve.
Clean Your Items, Make Sure They Work
Before a pawnbroker accepts your items, they will want to inspect them to ensure they work. The pawnbroker also takes the items’ cleanliness into account when quoting your price. All you need to do is put in a little effort and clean the items before delivering them to ensure you get the highest price possible.
Try to cover up signs of wear and make sure everything works before heading out to the shop. You’ll also want to clear electronics of any personal data. There’s more than just cash on the line; you also want to keep a good reputation at the shop.
A Boston Pawn Shop Is Like Any Other
The pawn shop industry is mostly the same wherever you go. A Boston pawn shop will take you through the same pawning process as one anywhere else. The biggest difference between pawn shops in different areas is their prices for different items.
And no matter where you decide to pawn your items, you should research your items and your market before doing anything. Information is power when negotiating a price for your items – the more of it you have the more cash you can make.
To help you with your research, keep reading here! We keep our website updated with the latest pawn shop trends so you can stay informed. And when you’re ready, use our tool to estimate the price you should fetch for your items.