Pawn shops provide an invaluable service: items of value can be brought in as collateral against short-term cash loans, which you then repay over an agreed-upon period of time, receiving back your item upon completion of payments.
Jewelry made of precious metals is an increasingly popular choice to pawn. Watches by well-known brands such as Rolex and Omega also see great demand as potential collateral.
Jewelry
Jewelry forms an essential component of many pawn shop businesses. Pawn shops buy gold and other precious metals from customers while accepting items as collateral loans.
Whenever pawning jewelry, always have it appraised first and do not present fake or costume pieces to pawn shops as this will not net you their true value.
On the other hand, purchasing jewelry at a pawn shop can save money for special events like proposals, birthdays, graduations and holidays. Many pawn shops provide high quality pieces at much cheaper prices than you’ll find in traditional jewelers.
Cars
Pawn shops often pay good money for car parts that have an active demand in their local market, provided there is sufficient demand. Their buying price will largely depend on the condition and experience with dealing with cars of these parts.
Performance parts from popular vehicle models tend to command higher prices than generic alternatives. Also, pawning jewelry or electronics will usually provide much greater value than selling them directly – though when pawning an item usually involves receiving a loan and must pay back its full amount within an agreed-upon timeframe.
Electronics
With today’s high tech age, it can be easy for people to amass an assortment of electronic devices they no longer require in their drawer or box. That is where pawn shops come into play – offering cash for these unwanted electronic items is their main purpose.
Before visiting a pawn shop to purchase electronics, it is advisable to conduct extensive research on any items of interest. This will enable you to understand their approximate value as well as give leverage during negotiations.
Make sure to bring any original accessories or documentation that can increase the value of your purchase, such as documentation or original manuals. In addition, it’s advisable to test out electronics – particularly display devices – prior to making a final decision.
Tools
Name brand tools are in high demand at pawn shops and often hold their value well. People bring them in as collateral for short-term loans with the knowledge that it will have excellent resale value when it is time to buy it back out again.
Power tools such as circular saws, air compressors, drills, nail guns and cordless screwdrivers are in high demand among buyers or pawners looking for items to pawn or sell quickly and at top dollar. Cleaning them and providing any user manuals may further increase offer amounts for potential buyers or pawners.
Sporting Goods
Pawn shops can be an invaluable source for athletes and outdoorsmen. Here you’ll find used hiking tents, fishing equipment and hunting gear all for a fraction of the original costs – not to mention snagging sports equipment such as skateboards, bicycles and high-end power tools at significantly discounted rates! Just be sure to erase all personal data off any laptop before selling it!
Power tools generally hold strong resale value at pawn shops, particularly popular brands such as Milwaukee and DeWalt. If the tool you bring is hard to sell however, pawn shops may not accept it due to already having too much inventory in stock.
VCRs & VHS Tapes
VCRs may seem outdated now; A History of Violence was the last major Hollywood release on tape and sitting idle degrades it over time. However, avid collectors or those hoping to watch old home videos again may still find working VCRs available at pawn shops or online marketplaces.
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Craigslist or eBay can also be an option, although you should exercise caution as private sellers don’t meet the same stringent standards. When purchasing used VCRs from these sources, look for models offering features such as good sound quality so you can hear voices you haven’t heard in years and an intuitive remote controller.
