February 20, 2020 - Pawn Resources
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 items differently than one in another city. And different items have different values depending on where you are, even within the same city.
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!
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 to figure out how they can resell it. If you know their worth on another “peer to peer” marketplace, like eBay or Craigslist, you don’t exactly know how much they’re worth to a pawnbroker. But you do have a benchmark to discount against: expect to get less than that, because you don’t have to meet a stranger in an alley.
If you go into a pawn shop with a clear sense of what your items are worth, you’re more likely to walk in with decent expectations and out with decent cash.
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.
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.