If you’re considering bringing your valuables to a pawnshop, there’s some research you should do first. Since most pawnshops don’t offer loans at the total market value of your items, you need to be sure you’re getting the best deal available.
If you need cash to cover bills or other expenses, pawnshops are a great way to get money fast. Still, you need to be sure you’re getting the best deal before you offer up your belongings. Let’s look at some tips on how to get the best price for your items at a pawnshop.
How to Get Great Deals at Your Pawnshop
Pawnbrokers consider several things before making you an offer on your valuables. Here are some things tips that can help you get the best offers from a local pawnshop.
1. Sell or Pawn?
Before you go to a pawnshop to make a deal, decide whether you want to sell or pawn. Many pawnshops will offer more money if you sell your items outright rather than offer them collateral for the loan. That’s because they can resell the item as soon as possible, rather than holding it for the term of your loan. Consider the pros and cons of buying vs. selling before you head to the pawnshop and have a clear idea of which avenue you want to pursue.
2. Do Your Research
If you want to know whether your offer is a good one or not, you will need to have information about the worth of that item before you head to the pawnshop. You can easily do some research online to see how much your valuables are worth. Compare them to selling websites like eBay.
3. Bring Documents
If you have high-value items like expensive musical instruments or jewelry, bring along any documentation you have. If what you have is a rare collectible, you must have the documents to prove its authenticity or originality. This will ensure you get the right offer.
4. Shop Around
If you are hoping to pawn your items, shop around for the best prices. Make the effort of checking out the local pawn shops. If you have an item that falls into the category in which a shop specializes, make that your first target. A specialized store will be more likely to make a better offer because they have a high demand for the items you’re selling.
5. Don’t Be Afraid to Negotiate
The negotiating process isn’t for everyone. Still, if you want to get the best offer, you need to negotiate a little. One rule you should remember is never to take the first offer. Go slightly above what you need. Hold your ground and ask your pawnbroker respectfully how much they are willing to offer. Although pawnshops do this every day as part of their job description, they’re open to negotiating. You’ve got a better chance of getting a reasonable price if you’re willing to do the same.
If you’re looking for a great way to earn extra money, consider bringing some of your unused valuables to Las Vegas Pawn. Swing by our Redlands pawnshop to learn more!