In a tight situation with money?
If so, then selling swords that have been in the living room as a decoration for years might come to mind.
Swords are kind of a niche item though so it can be hard to find a buyer. But you can earn good money if you find the right person who understands and appreciates the value of swords.
Here are a few reasons why it might be better to pawn rather than sell them.
1. Relinquishing Ownership
When someone sells an item, they forfeit it in exchange for cash. That is the point of selling the item after all. With pawning an item, the owner doesn’t have to relinquish ownership.
This is because in the case of pawning the owner is giving the sword to the broker as collateral for money. If the owner pays the broker back before the time frame ends, then they can always get it back.
2. The Element of Time
Deciding to pawn the swords will result in an agreement between the owner and the broker. This agreement is usually thrown into a time constraint. The pawn shop will obviously expect repayment.
If they sell the item, then they won’t be bound by any time at all. It’s also important to know that the owner will possibly be charged interest for the loan over time.
If the owner decides to pawn their swords, then they may receive less money than they would have gotten for just selling them.
It’s important to note that the owner will get the swords back once the loan is paid off. If they sell it, they lose the sword forever.
4. Other things to Consider with Pawn Shops
Most pawn shops are more than happy to take weapons like swords, knives, even guns but there are some who don’t really feel comfortable with it.
If the broker who owns the pawn shop doesn’t want to deal in weapons of any kind, then the seller is out of luck. This sort of situation is rare considering the value of swords. There is always a demand for them.
There is also the factor of what kind of sword the owner is trying to sell. If it’s a cheap collectible sword from China, then it probably won’t have much value.
There are some nice swords out there that are worth thousands of dollars. There are also old swords that were used in a war which can also net the owner quite a bit of money if kept in good condition.
5. Finding a Pawn Shop
Do a Google search of pawn shops in the area and then start calling around and ask
1. If they buy swords?
2. What is needed in combination with the sword to get a loan
3. What is required to get the loan? (state ID, social security card, picture ID)
Asking these questions should narrow down the field and reel in a few potential buyers.
Pawning vs. Selling Swords
Selling Swords can be difficult because of how niche they are. It’s for this reason that pawning them might be the better option. Pawning them doesn’t mean the owner will lose them forever, once the loan is paid off they can get them back. Pawning can result in quick cash for those in a tight spot.
For more information on how pawn shop loans work, get more information here.