February 08, 2020 - Pawn Resources
You can get a quick loan or make a great sale without the hassle of banks and other such institutions. Pawn shops also offer a great deal of flexibility when it comes to pricing items. Whether you’re selling or buying from pawn shops, there’s always room for negotiation. Here are some tips that would help you get the best price.
If you intend to sell or pawn an item, you need to make sure that you get the best possible deal. Pawn brokers want to make profit and you need to keep that in mind. They won’t hesitate to low-ball and offer just a portion of the true value of the item to increase their profit margin.
You should be aware of the value of your item. This is absolutely essential and helps you avoid a bad deal. For example, if you want to sell jewelry, research the latest gold or silver prices and get the piece appraised by a jeweler. This will give you the information you need to avoid scammers.
You need to maintain an upper hand during negotiations so let them make the first offer and negotiate from there.
You shouldn’t tell them how much you purchased the item for or how much you think its worth. That would only compromise your position and take away some of your leverage.
When you’re buying from pawn shops, you should be careful and take every step you can to protect your interests. Pawn shops will offer great bargains but there’s always a chance that you won’t get the best quality product.
Be informed about the item you want to buy- For example, if you want to purchase a guitar, make sure you know how to identify a good one. You should also test it in the store to gauge the sound quality before you purchase.
Don’t hesitate to haggle-When you’re buying from pawn shops, you don’t have to deal with fixed retail prices. You have considerable flexibility, so bargain to your heart’s content to get the best deal possible. No pawn broker would expect you to accept their first offer.
Examine the quality-No matter what you buy, examine it thoroughly before you pay them money. While good quality pawn shops won’t house damaged or malfunctioning items, you need to cover your own interests.
Things to purchase- The best items to purchase at a pawn shop are tools, bikes, DVDs, and video games. That’s because you can easily verify the quality of these items. You shouldn’t purchase personal electronics, jewelry, or watches from a pawn shop unless you know what to look for and how to assess their worth.
David Stiebel is one of the cofounders of PawnGuru. David was educated at MIT, where he studied Math. He subsequently worked at Bain as a data scientist before starting PawnGuru in 2015. He started PawnGuru to build a better tool for pawn shops and consumers to connect.More Articles
May 17, 2017, 5:38 PM
I like the idea to know the value of your item before selling it in a pawn shop. My wife has some old jewelry that she doesn’t wear anymore. I definitely think that we should look into selling some of the jewelry to a pawn shop in order to make a little extra money.
October 12, 2017, 3:29 PM
I’ve been thinking about pawning off some old antiques I have, but I’m not really sure where to start. I like that you suggest researching the latest sell trends to get an idea about the value of your items. I’ll try looking online so I can get a general idea for negotiating. Thanks for sharing!
December 6, 2017, 8:28 PM
It helped a lot when you mentioned how you should take the time to understand the value of your items before selling them at a pawn shop. I understand that doing this and visiting several shops can help you get the best appraisals for your items. We are planning on getting rid of some of our old electronics and want to get the best price we can, so I’ll make sure to follow your tips when we sell them to a pawn shop.
December 28, 2017, 10:57 PM
That part directed at people selling to pawn shops was educational. I found a few items in my garage that I want to get rid of. It’s good to know that you shouldn’t tell them how much the item you’re selling was purchased for.
February 17, 2018, 5:03 AM
It really helped me when you said that we should be aware of the value of the item that we are going to pawn. I think that we should keep this in mind to get a great value. We have some antiques in our house and I will consider looking for pawn shops that can offer me a good price.