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Saturday, April 20 2019
How Do Pawn Shops Determine Value?

When you decide to pawn an item for some quick cash, it helps to know what to expect in terms of a return. One item may go for slightly different prices depending on your area and what is in demand, but there are a couple of standard ways to understand how pawn shops determine value. The main thing to remember is that sentimental value does not mean cash value, depending on the item. However, if you are a repeat customer or the heirloom quality is obvious, your pawnbroker has the flexibility to factor that into the worth of the item. No matter what, do not expect to get full retail value for anything you bring in, because the worth depends on so many things besides initial market value. That doesn’t mean that it isn’t worth bringing your items in — your local pawn shop is always ready to help you out in a pinch!

The first thing a pawnbroker is going to check is the quality of your item. You are obviously not going to get as much money for an item showing a lot of wear and tear than an item that is in pristine condition. Another aspect up for consideration is the probability of selling your item. If you have scuba diving gear in the middle of Kansas, there’s a good chance that most people are not going to be interested in buying it.

 

Also, consider whether your item is outdated or will be quickly. Although electronics are always a welcome item in a pawn shop, they can quickly become outdated depending on what it is. Computers, tablets, and phones can be a gamble since they are updated frequently. DVD/Blu-ray players and video game consoles are more consistent as most can usually run several generations of technology. 

Will you be retrieving your item after pawning it? That is done thing that pawnbrokers have to take into consideration for resale value. Explaining the background of your item will help to determine that. Also, pawnbrokers will check several databases to determine the value of the item you are wanting to pawn and what they can give to you in return. One helpful resource is eBay, and it can be helpful to check this website for similar items before you take your pieces in to the store so you have an idea of the outcome and whether it is worth it for the both of you. Pawnbrokers rely on several other sources besides eBay, including other internet sites, guidebooks, and their own personal experience. 

Because pawnbrokers have specific expertise, some may be extremely familiar with the sales of gold and silver while others may know more about electronics, guns, or gemstones. If you know that your item fits a certain niche that is in demand, search for a pawnbroker with a good knowledge of your item so you can make sure to get the best value and information.

Posted by: AT 08:00 am   |  Permalink   |  Email
Sunday, April 14 2019
What Pawn Shops Do and Don't Want

If you’re considering pawning one of your items to your local pawn shop, there are a few variables to consider. FIrst, it’s important to realize that pawn shops in different locations have different markets, and will pay different prices for the same item. It’s also important to think about what’s in demand in your area. Then, you need to assess whether your item has market value, or is mostly valuable in a sentimental sense. 

These variables will change depending on the location, but there are some items that every pawn shop will find desirable and that no pawn shop will want to take off your hands at all. Keep reading for tips on what pawn shops do and do not want.

As for what pawn shops don’t want… the main thing to remember is that sentimental value does not equal retail value. Just because your Beanie Babies, baseball cards, or special painting means a lot to you does not mean another customer at the pawn shop will want to purchase it. 

Pawn shops also do not want clothes or shoes, even if they are designer sneakers or a luxury gown. The reason for this is that these items will only fit a small number of customers since it relies on size, and will therefore limit the number of people who would be willing to purchase the item. Clothing takes up space that a typical pawn shop does not have to spare and is better served as a donation. Similarly, pawn shops do not have room for large appliances such as refrigerators, which take up a lot of space and need an expertise to assess that the pawn shop owner might not possess. Furniture is also too large.

Now that we’ve taken care of what not to bring, let’s discuss what is in demand in most pawn shops now. Once again, it pays to think about the location and interests of the customers that the pawn shops attract. But all pawn shops will accept jewelry, watches and precious metals, especially gold, silver and platinum. Diamonds and other gemstones are always a reliable option to pawn as well, as these materials gain value over time.  

Firearms are always a popular choice for pawn shops, for good reason. Americans love their guns, and who doesn’t want to be a part of the true American spirit? If you have firearms accumulating dust in a safe, those are always a good choice to bring to the pawn shop. 

Another American staple is electronics. If you have a television you no longer use or a gaming system that doesn’t get the play time it used to,n bring them over to your local pawn shop for some quick cash! Video games and phones are popular items that will always possess a certain amount of value as well. Finally, power tools are also a good choice, because the average American can’t afford brand-new power tools and is definitely looking for a cheaper option. 

Now that you know what is and is not a good option to take into a pawn shop, it’s time to take in some items and try pawning!

Posted by: AT 09:47 am   |  Permalink   |  Email

Cash Express  • Philadelphia Pawn Shop

731 Chestnut St. Philadelphia, PA 19106 -  (215) 922-1560