You can easily find all kinds of musical instruments in a pawn shop, including guitars, drums, flutes, violins, even pianos.
A pawn shop is a great way to make a quick sale and dispose of a musical instrument that’s been lying uselessly around. However, whether you buy or sell used musical instruments in a pawn shop, you need to be careful and do your research well.
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When you want to sell something at a pawn shop, it’s a good idea to have some leverage that can drive the price of your product up. One of the best ways to do that is to determine the value of your musical instrument in the first place. If you follow these steps, you should be able to make a good deal on your instrument:
You can walk into any music store and have them examine your instrument carefully. They will be able to point out flaws and selling points and let you know just how much the instrument could potentially sell for. This will give you a solid idea of what to expect.
A pawn broker isn’t going to pay full price for the instrument. After all, they need to make a profit off it. To determine the price of the instrument, they’ll look for the eBay listed price and the maximum amount they can sell the instrument for. They’ll most likely pay 40% to 70% of the sale amount because they need to make some profit.
It’s important to negotiate as much as you can. Pawnshops will always lowball on the price and there is some room for negotiation. You’ll probably have to lower your expectations a little bit, but you should get a fair deal if you remain cautious.
Always have a lowest price point in mind. The pawnbroker will try to purchase your used musical instrument at the lowest possible price. You need to keep a bottom-line that you won’t cross. For example, if your guitar is worth $150, your pawn broker might agree to purchase it for $50 and that’s low balling. Before you step into the pawnshop, decide that you won’t sell the guitar for less than $65.
You need to be careful when you purchase something from a pawn shop as well. The broker will try to get as much profit as they can and will always set the price tag for used guitar or other such instruments pretty high.
You should study the instrument carefully and make sure that it’s not a refinished model. Look at the wear and tear on the instrument and check the stings, pegs, and other components carefully.
Play the instrument at the pawnshop to determine its quality. If you have some experience with music, you’ll easily be able to identify a good tone. For example, a used violin should have a deep, rich tone rather than a light one with high treble voice.
If you keep these factors in mind, you can make a good deal at the pawn shop.