More than 9 million households (7.4% of all U.S. households) have worked with pawnbrokers.
Even with the stigma surrounding them, the fact is, they offer quick and safe financial relief.
In fact, pawn customers are often more disciplined than other types of borrowers. One reason is that they’re using some form of collateral to secure the loan. Plus, they can’t borrow more than the value of their pawned items.
This doesn’t mean you won’t get a great deal when working with pawn shops in Philadelphia though. There are ways to negotiate a better rate, which is exactly what we’ll share with you.
Ready to get those high-priced offers? Then let’s get right into it!
Pawn Stuff that Pawn Shops in Philadelphia Drool Over
Bright and sparkling diamonds aren’t pawnshops’ only best friend. In fact, jewelry only makes up 5% of Americans’ pawn requests. Whereas electronics consist of 30.1% of requests, making them some of the best things to pawn.
Pawn shops accept iPhones, iPads, or any smartphones and tablets in great condition. They also love power tools, so if you’ve got a few you can spare, consider bringing these to the shop too.
Deal Only with Licensed Pawnbrokers
There are some 11,000 pawnbrokers in the country, and as you can imagine, dozens of them are in Philadelphia. Note that all pawnshops in Philly need a license to operate. The city’s pawnbrokers also need to report transactions to the Police Department.
That said, be certain the pawn shop you’ll work with has a license. This ensures you’ll receive a fair rate for the items you’re going to pawn. Otherwise, you may end up with such a bad deal, which you shouldn’t take even if you’re low on cash.
Licensed pawn shops in PA are also legally-responsible for securing pawned items. The law holds them liable for stolen items, so that’s peace of mind for you.
Get Your Items Appraised
Although reputable pawnshops in Philadelphia won’t low-ball you, an appraisal will help. Professional appraisers can help determine the real value of your jewelry and antiques. They’ll give you an appraisal certificate, which you should show the pawn shop.
That proof will help you negotiate a much better deal for your precious items. Plus, it’ll make the process of determining authenticity much faster and easier.
Grease (Or Clean) Your Items Up
Whether you’re pawning or selling chinaware or a computer screen, make sure you clean them up! Dirt, dust, grime, and stains can lower the value of your items.
Think of pawning as selling your home — you’d want to show your stuff in their best light, wouldn’t you? The same applies to getting a pawn loan.
Pawn Your Valuable Items Now
Follow these tips, and pawn shops in Philadelphia are sure to give you better offers on your items. But make sure you pay your dues on time, so you don’t have to part ways with your valuables.