Are you in need of some quick cash? If so, you may be searching your home for something to pawn. While jewelry, gadgets, and guitars may come to mind, you may be missing some important items.
How about that cello nobody plays anymore? Cellos can be worth quite a bit of cash, so they’re great items to pawn when you need some money.
Should you pawn it, though? Wouldn’t it be better to sell your cello? There are pros and cons to both.
If you’re not sure what to do, we’ll help you make the right decision. Read on for five things to know about pawning and selling your cello.
1. A Pawn is a Loan
If you sell your cello, you won’t get it back, unless you track it down again and buy it back from the purchaser.
2. Selling Gets You More
You’ll likely get more cash for your cello if you sell instead of pawn it. In a way, though, you get more when you pawn.
Why? Because you get the cello back.
You get a certain amount of cash for the item, plus you keep the item. If you sell the item you only get the cash. Decide which option means more to you.
3. Your Cello should be in Good Condition
If you’re looking to get the most financial return from your cello, it needs to be in good condition. It should play well and not have any major problems.
You should also include all accessories that are necessary for the cello to function. This includes the bow and the cello’s case.
4. You Have Time to Pay it Back
Pawning your cello gives you access to quick cash and you won’t have to pay it back right away. You and your pawnbroker of choice will set the terms of the loan.
You’ll have a set amount of time to pay the loan back. The quicker you pay it back, the less interest you’ll have to pay. If you can’t pay it back right away, that’s okay, but you’ll owe more money later.
5. Selling Clears Clutter
If you’re looking to clear up some clutter while bringing in cash, sell instead of pawn your cello. Once you sell your cello you won’t have to worry about what to do with it anymore. That means you’ll free up some space and make money in the process.
Pawn or Sell Your Cello: You Decide
Ultimately, you’ll have to decide if it’s better for you to pawn or sell your cello. Each option has benefits, but one might not be what you’re looking for.
While pawning may not work for you, selling may suit your fancy. If you’re looking to make some quick cash, either is a good option.