If you’re thinking about what a typical pawnshop buys, you probably think of expensive jewelry or electronics that have outlived their use. But pawning tools is really common, too.
In fact, tools make up 8.1 percent of all things sold to pawn shops. This might seem like a low statistic, but it’s actually the third highest category after the jewelry and electronics.
If you’re considering pawning tools, you’re making a great choice. Once you learn why it’s a great idea to pawn tools, you’ll probably agree that this statistic should be much higher.
Here, we’re going to tell you the reasons you should take those old, unwanted power tools to the pawn shop instead of the trash bin.
Money, Money, Money
Pawning tools actually will get you a lot more money than you think it will. Depending on their brand and condition, you can get anywhere between $50 and $150 dollars for a single piece. If you were to sell them at a garage sale, you definitely wouldn’t make anywhere near this much!
Pawn shops also give more money at certain times of the year or when demand is higher for your item. If it’s spring, a lot of your power tools, especially those for yard maintenance, are going to go for a lot more money since people want them for the summer season.
Throwing these tools in the garbage or giving them to a Goodwill where they’ll probably just be tossed away anyway is basically the same as you throwing a $50 bill into the trash chute!
Out with the Old
Power tools are big and clunky and take up a lot of space in the garage. This is all well and good if you use them, but if you don’t, do yourself a favor and pawn them. This will make space for things you actually will use.
Also, pawning power tools will give someone else who can’t buy them full-price access to them. The average working American can’t afford power tools at full price, which is especially bad since these people tend to do manual labor and need these tools. Pay it forward!
Prepare to Pawn Tools
Another great thing about pawning power tools is that they don’t require a lot of preparation before you take them into the pawn shop. Sure, you’ll need to make sure all the parts and the manual are there and give them a good cleaning. But that’s a super easy and basic task that doesn’t take much work.
If you were going to pawn jewelry or electronics, you’d have to do a lot more prep work before bringing them in. Power tools are a really simple alternative if you’re looking to pawn something.
You might have been questioning whether or not it was worth it to pawn tools before, but now you can say with confidence that it is.
Now that you know a great way to make money and get rid of unwanted clutter, you might want to check out this article for some ideas of other things you can also take to the pawn store when you’re taking in your tools. Enjoy!