You might be selling or pawning collectibles, art, antiques, jewelry…but no matter what, you want to have some savvy negotiation skills under your belt to make a difference in how much money you’re offered. There are pawn shop negotiation tips that help you get the best value possible, and they’re not too difficult.

1. Know What You Have

Thanks to the internet, it’s fairly easy to research the item(s) you want to sell or pawn. Scroll around and see other people’s pricing. Remember that some things, like precious metals, have rapidly changing appraisals. This step helps you avoid underselling your item.

2. Sell or Pawn?

Depending on what you’ve chosen and your current financial situation, either option can work out. When you pawn something, it’s a loan. If you don’t pay it back within the allotted time frame, the item becomes the property of the store. This is the reason our professionals at Cash Express strongly discourage pawning things to which you have strong personal attachments.

3. Presentation Matters

In your toolbox of pawn negotiation tips,you will get the best value when your item looks cared for. When you go to a secondhand store, the clean, cared-for items are those that catch your eye. The same holds true at a pawnshop. Make sure the item is clean. If you have any of the original packaging or documentation (like authenticity certificates), it is VERY helpful. These papers are called provenance, and having them typically affords a better valuation. By the way, if you are aware of flaws, just lay them out to the shopkeeper. They will find those issues upon close examination anyway, so keep it honest.

4. Keep Your Financial Goal To Yourself

If you tell a store owner you want X amount, you could undervalue your item from the get-go. Let them make the first offer. Then, you can counter if you wish based on what you learned during research (you can even site the information). 

5. Remain Reasonable

Keep your expectations realistic. If the pawn shop doesn’t have a high demand for your item, they won’t offer as much, or may reject it altogether. If you’re not sure of what we want, call Cash Express (215-922-1560) before coming to the store and ask!  

Nonetheless, even when the item is marketable, the shop still needs to make a profit to keep the doors open. If you’re not happy with the final offer, just walk away. 

6. Manner Matter

A pawn shop is a professional establishment. When you come into our store there are trained staff to greet you and help with all your questions. Return the kindness with respect and friendly conversation. Courtesy goes a long way. 

Good negotiation at a pawn shop boils down to three key factors. Be prepared, present your item in the best possible way, and remain respectful. 

If you have questions about pawning or selling to Cash Express, don’t hesitate to reach out:

Email: info@pawnphiladelphia.com 

Online Contact Form and

Telephone: 215-922-1560

The first time you consider going to a pawnshop, it’s good to be cautious. You have little to worry about at stores like Cash Express, which has a history of excellence. However, not all pawn shops are created equal. Some have deceptive practices that you need to watch for. Here are some tips to avoid pawn shop scams, the notable red flags, and how to protect your interests. 

Under or Over Valuation

If you’re selling, you have to be aware of your value’s worth, or a shady operator could tell you a lower price than what you should receive. So research before you go, and if you have any concerns, it’s best to walk away.

Alternatively, if you’ve come to shop, the seller could claim the item you want has a higher karat or purer metal than it actually contains. If they start talking to you about units with which you’re unfamiliar, like a pennyweight, that’s a red flag.

Fee Fraud

This comes up when you’re pawning something. Read that loan paperwork carefully. If there are administrative fees, storage fees, or unreasonably high interest rates, stay away. All those hidden fees add up quickly, so you’ll owe a great deal more than you expected when you go to get your item back. At Cash Express, we make sure your agreements are clear and review every aspect before you sign on the dotted line. 

No Pawn Ticket

Part of a pawn transaction is getting a ticket to prove you are the owner of a specific item. If a seller does not offer one or has vague loan documents, just say no. A seller's inability to clearly explain their valuations and how they calculate interest payments is another red flag. 

Selling Stolen Goods

There are strict buying rules that cities and states have about the goods a pawnshop buys. The owner should track everything with local authorities to ensure they’re not getting an illicitly obtained item. Cash Express works with the Philadelphia Police Department, using an inventory-tracking system, to prevent this from ever happening. 

If It Sounds Too Good To Be True

Building on the selling of stolen goods, beware of prices that just don’t seem right. There’s a risk involved. Additionally, if a pawnshop is having a “sale” (or “as is” transactions) where everything is cash only, buyer beware. This red flag scam involves unbelievable offers without any appraisal or assurances. The seller may use high-pressure sales tactics to get you to buy. 

No Physical Location Or Unusual Payment Methods

If a buyer or seller wants to meet somewhere other than an actual shop, there’s mischief afoot. Also, if they lack any online reviews, there’s probably a reason. If there is a website, see how long it’s been up. An establishment like Cash Express with a solid reputation will have a website that didn’t just appear a month ago. 

When they want prepaid cards, wire transfers, or cryptocurrency, this makes payment untraceable. By the time you find out you’ve been scammed, they’ve disappeared. 

Protecting Yourself From Pawn Shop Scams

Going to a pawnshop is a simple way to get quick cash for a loan or to sell items you no longer need. But go in with your eyes peeled for the red flags detailed in this article to protect yourself.

Cash Express is always looking for high-end jewelry, watches, precious metals, and antiques. We are happy to answer any questions you have about our buying, selling, and pawning procedures. You can contact us in three ways:

Our online contact form

Email: info@pawnphiladelphia.com

Or call: 215-922-1560

Precious metals can fetch hefty returns if you know how the market works. You want to get the best prices, but there are important factors to consider in selling. In this article, we share tips on how to get the best price for your gold or precious metals at a pawn shop.

Perhaps the most important thing is knowing that you will not receive the full market value for your goods. One reason for this is that the market for precious metals fluctuates daily, even several times a day. A purchase or pawn transaction must take that into consideration. The other reason is making enough profit to keep the business afloat and financially healthy. 

At Cash Express, we consider buying gold, white gold, rose gold, silver, and platinum, not just in bars, but also in watches, coins, and jewelry. The trick with jewelry is evaluating the amount of precious metal in the item. With coins, there’s rarity. 

There are four basic evaluation points that every pawnshop uses to determine an offer.

1. Weight: Measured with precise scales in grams or pennyweights.

2. The metal’s purity. If your item has markings like '24K', that’s a good starting point.

3. Metals with stones: The gem plays a role in value determination

4. Current market prices. 

TIP:

 If the economy becomes uncertain, investors often want to purchase rare metals, especially gold.

5. Condition: If the piece is going to be resold rather than used for scrap, condition matters a lot. Think of the person who might want to buy your item. Is it immediately attractive? With a watch, is it working?

6. Demand: Precious metals go in and out of fashion. Your evaluation includes a sound understanding of whether there’s a demand for what you’re selling. 

7. Uniqueness & Rarity. Antiques made with precious metals may be uncommon or highly distinctive.

Our professional appraisers can provide a price for broken pieces, which have scrap value.

The Best Price for Your Gold or Precious Metals by Season

One way to get the most money for your precious metals at a pawnshop is through strategic timing. At Cash Express, we’ve observed that there are price peaks throughout the year that you can use to your advantage. The whole market shifts into high gear. Bear in mind, wedding season varies from culture to culture. In India, it’s November and one of the traditional gifts is elaborate gold jewelry. 

The holidays can be a catch-22. You have people buying special items from Christmas to Boxing Day. Just prior to this, consider selling necklaces, bracelets, earrings and other items perfect for gift-giving. On the other hand, in preparation for tax season, more people sell their precious metal assets. Then they start buying again in the new year. Having gold in stock in January is a good marketing practice. 

Preparing to Sell Your Precious Metals at a Pawn Shop

There are steps you can take to get the best price for your goods. These include:

1. Checking various sources regarding the metal’s price on the day you go in. This gives you a solid foundation for negotiations.

2. Spruce it up. With items other than bars, make sure what you're selling looks its best. 

3. Bring any associated paperwork like receipts, certificates of authenticity, other appraisals, name of the designer if applicable, original packaging, etc.. Provenance is very important in pawning. These documents prove ownership and trace the history of the precious metal.

4. It’s okay to haggle. There is usually some wiggle room, but be reasonable. If you’re planning to buy something after your sale, store credit sometimes yields a higher return. If you’re not happy with the deal presented, just walk away. 

The Cash Express Experience

Our friendly professionals at Cash Express make your sale or pawn transaction simple. Every step of the way, if you have questions we’re happy to answer them. We are the number one pawnbroker in Philadelphia for Quick Cash! Besides coming to our show room for more information (located at 731 Chestnut St. Philadelphia, PA), you can:

Call our office: 215-922-1560

Email us: info@pawnphiladephia.com

Or, use our online contact form

If you’ve been thinking of taking some of your items to a pawnshop for the first time, you might be somewhat unconfident as to how to go about things. That’s natural. Many people we see at Cash Express are just starting their pawn adventures and have little knowledge of how the pawn industry works. Taking a few moments of research will make you feel more at ease. 

Top 5 Mistakes People Make & Misunderstandings When Selling To A Pawn Shop

There are several common mistakes people make when selling to a pawnshop. This article examines some of them so you can prepare in advance. 

1. Misunderstanding: Market Prices Aren’t Fixed:

There are numerous factors that influence market values. These include the time of year (is it giftable?), popularity, and rarity, which are three common ones. You may love your old video game, but if dozens of them are available, you have a lot of pricing competition, for example. By far, the most volatile selling market is that of precious metals, where values can fluctuate several times in just one day. No matter what you’re selling, look around at sites like eBay. It’s not always a perfect measure, but it helps. 

2. Misunderstanding: Not All Pawn Shops Buy All Things

Some pawn shops specialize, while others cater to a broad-based industry, and still others focus on key items they watch out for. So don’t feel insulted if a shopkeeper says, “No.” At Cash Express, we carry high-end watches, jewelry, antiques, precious metals, gemstones, and collectibles. Having said that, we’re often interested in tools, cameras, musical instruments, computers, and designer handbags. To save a little time, give us a call before you visit at (215) 922-1560 and ask about the items you have in mind. 

3. Mistake: Over-Negotiating

Nearly everything in a paw transaction is negotiable, so it’s worth haggling a bit. BUT, don’t press your luck. Pawnshops have a bottom line, just like any other business, so they know what they can (and cannot) offer. You can refuse, but also be prepared if the store can't offer you the amount you anticipated. At Cash Express, we offer fair pricing from the get-go. After all, we want you to come back and bring a friend!

4. BIG Mistake: 

Trying to sell stolen goods. If you suspect something may have been stolen at any time in the past, just don’t do it. Pawnshops are required to follow certain procedures and cooperate with law enforcement. There’s documentation with descriptions for every transaction. Should you really want to try to sell, be upfront about the history you know. The store may be able to unravel a mystery!

5. Misunderstanding: Selling “as-is:” 

Don’t just grab your goods and run to the store. You will generally receive more for your Item by taking a few moments to tidy it up. If you have the original box, put it in there. Bring any remaining provenance (evidence of where it came from, price, and when), too. One word of caution. Take care with polishing. Patina, in many cases, is valuable as-is. It’s also easy to scratch items without proper knowledge of polishing techniques.

Pawning or Selling at Cash Express

One of the top mistakes people make when selling items to a pawnshop is not dealing with the right store. They are not all created equal. When you come to Cash Express, friendly service personnel await you. They will be happy to answer any questions you may have. If you’re bringing jewelry, our on-site appraiser can provide you with greater insight into the value of your item on the spot. Once we agree on a price, you get quick cash immediately. 
Besides calling, you can also reach us using our online contact form or our email info@pawnphiladephia.com.

At Cash Express, we are very diligent about following the City of Philadelphia’s and the State of Pennsylvania's requirements for being pawnbrokers. There are many that are in place for consumer protection. Having a pawnbroker’s licence with both the city and the state is the primary step. Without that, a pawnshop is operating illegally. 

City of Philadelphia Regulations and Requirements for Pawnshops

Like other companies, Cash Express obtained its licence from the City of Philadelphia’s Business Office. We had to provide income and receipts tax ID, our commercial activity licence, and zoning approval (also from the City’s Business Office.) 

The application process includes an application fee, which you can handle online or in person at the Permit and Licence Center.

Pawn Shop Regulations After Licensure

1. Cash Express registered itself with the Philadelphia Police Department and uses an approved inventory tracking system. This ensures they do not buy or sell stolen goods. 

2. Mandatory hours of operation are from 8:30 am to 5 pm (not before or after). There are no business transactions on Sundays.

Buying and Selling at Pawn Shops

1. We require a valid personal photo ID (State or Government) from you before we can purchase anything from you. Please ensure you bring it with you when visiting.

2. Once we’ve agreed on a value, we’ll take a picture of you and then take an imprint of your left thumb, per PA guidelines. 

3. We will issue you a ticket if you are pawning your item. This ticket is vital. It proves your ownership when you pay off your Cash Express Quick Cash loan.

4. Afterward, we will register and report the transaction managed by the Philadelphia Police Department.

State of Pennsylvania Regulations and Requirements for Pawnshops

On a state level, the pawnbroker must obtain a license through the Commonwealth of Pennsylvania Department of Securities. The fees and bond apply to EACH business location. There are also capitalisation rules, with a minimum capitalization of $10,000 per location. A shop owner must renew their licence annually, submitting their request at least a month in advance.

If our store were ever to relocate, we would have to get prior approval via application. Any changes in the originally reported business structure require a new license. Stores must have:

• Adequate security measures

• A vault

• A means of tracking tickets effectively.

All three of these mandates protect consumers’ property.

Failure to follow any of the rules can result in fines, a suspension of the license to operate, and even Cease Operation Orders.

Cash Express 

Cash Express believes in being an active part of our community. That means abiding by city and state laws and regulations, and keeping abreast of changes. You can come here secure in the knowledge that we have all applicable licences up to date.

Whether you’re buying or selling jewelry, antiques, computers, smartphones, tools, etc., our professionals are ready to lend a helping hand. If you’d like more information, you can contact us in three ways:

Our online contact form 

Email us at info@pawnphiladephia.com, or Call our office at 215-922-1560

If you own gold or high-end electronics you’d like to sell, you may wonder if there are windows of opportunity to get a better return on your investment. The answer is yes. Like any other market, both gold and electronics have market trends and seasonal prices.

Gold

At Cash Express, we see people selling various assets in December, hoping to decrease their taxes, so you have some competition at this time of year. Nonetheless, come January, people want to buy again, so gold dealers will want to have reliable stock for their customers. In the gold industry, this is called the “January Effect.”

Wedding Season

No matter where you are in the world, selling gold during the wedding season is a great idea. There’s a bump in demand. An example of this is in India, where gold has cultural significance. Their wedding season is November, and the demand for gold goes through the roof. In Hindu tradition, gold brings blessings from the Goddess of Wealth, Lakshmi. The more gold jewelry, the more elaborate, the better. The effect in the US is tamer and depends on:

• The Economy: In times of uncertainty, investors often turn to gold as a safe asset.

• Gold Prices: These fluctuate all the time. Look for upticks for a better return. 

• Gold with Valuable Stones: If you’re selling gold jewelry, a quality stone improves the price you should get. 

• Uniqueness: If you have rare gold coins, for example, they may be in high demand throughout the year.

The Glitter of Holidays

The time leading up to the winter holidays through Boxing Day is prime time for gold. Giftable items like earrings, bracelets, and necklaces are ideal. People are also looking for gold rings to propose on Christmas Eve or Christmas Day.

Lunar New Year (China)

Gold gifts are widespread as gifts on the Lunar New Year, as they represent kind wishes for prosperity in the coming year. In this market, it's best to sell in December and January.

Summer Slowdown

At Cash Express, we’ve noticed a decrease in people looking for gold items. But if you’re looking to buy, now’s the time. 

Electronics:

Like gold, electronics have seasonal price peaks and market-driven changes, making it a little harder to know when the best time to sell electronics is. Much depends on what you have to sell. For example, just before the school season begins, parents seek out tablets, laptops, and smart watches. 

Come the holidays, folks want all manner of electronic gifts. Individuals looking to upgrade their electronics tend to make purchases more readily after receiving their tax return. Make sure to sell your electronics before the newer model comes out. After that, your return decreases.

Sell at Cash Express

No matter what time of year, Cash Express is looking for quality gold items (like jewelry) and electronics in good condition. You can get quick cash by bringing in your item(s) and having us check pricing for you. We especially love one-of-a-kind pieces. Give us a call at 215-922-1560 for any questions you may have. Alternatively, use our online contact form or email us at info@pawnphiladephia.com.

Gold is an incredibly valuable asset in any form, whether it be jewelry, bars, coins, or bullion. When the price of gold goes up, or when you need extra cash, it might be time to consider selling. But where? What is more profitable - to sell gold to a pawnshop or jewelry store?

There are many factors involved in your choices. Do you have pressing needs? Are you looking for convenience? Is the market value for precious metals high? Let’s take a closer look.

What Type of Gold do Pawn Shops Want?

At Cash Express, we specialize in high-end jewelry and other items made of precious metals - silver, titanium, platinum, copper, and (of course) gold. You can have gold coins that not only have value for the metal, but also for the age and rarity. 

While a jewelry store may offer you a higher price, pawn shops have higher overhead, so you’ll probably get a little less. But stores do not provide quick cash with no hassles. Additionally, the store is typically very picky about the condition of your gold. By comparison, you can bring Cash Express broken or outdated pieces, and we can appraise them for the value of the gold alone. The exception would be plated gold items, which typically contain only a small percentage of gold in the mix. 

Is Selling Gold to a Pawn Shop Safe?

There was a time when pawn shops had little oversight, but that situation changed. In Philadelphia, PA, all pawn shops have to have a license. They need proper identification, inventory tracking, to follow financial regulations, and to comply with anti-theft procedures.

Having said that, just like jewelry stores, not all pawnshops are created equal. Some carry low-level merchandise, specialize in specific items, or have less-than-friendly staff. At Cash Express, things are different. Our staff is welcoming and knowledgeable. You also have the advantage of an on-site appraiser. You will find out the value of your gold right away. There is no pressure. You can accept the offer or walk away and wait until another time. We want to build a culture of trust with our clients. 

Benefits of Selling Gold to a Pawn Shop Instead of a Jewelry Store.

There are specific benefits to bringing your jewelry and other gold items to Cash Express. For one, we’re easily accessible. The convenience means getting in and out quickly.

You receive immediate payment for your gold. When something happens, and you need money right away, you’ll get it on the spot. No banks. No credit checks. It’s a no-nonsense process.

If you’re looking for something new or a gift, you can trade your gold for store credit. There’s also an option that jewelry stores don’t provide: getting a loan (pawning) for your gold. If you have a valuable item but really don’t want to sell it, perhaps it’s a family antique, you can use it as collateral in the short term. At the end of that term, you repay what you owe with agreed-upon interest. 

The Caveat

There are two cautions. One, if you are unable to repay the loan, the store reserves the right to sell your item. If you’re getting close to the deadline, see if you can get an extension. Two: Don’t lose your pawn ticket. Without it, you’ll need to provide ID, a complete description of the item, and proof of ownership. 

Cash Express

At Cash Express, we take pride in being the number one pawn broker in Philadelphia for quick cash. We’d welcome the opportunity to look at your gold and give you a more personalized experience than a jewelry store. You can use our online contact form or email (info@pawnphiladephia.com) to open a discussion and ask questions. Or, call our office at 215-922-1560

Have you been thinking about pawning your Apple Watch or iPhone? It’s not that difficult. In fact, both Apple Watches and iPhones are highly sought-after items at shops like Cash Express. Our professionals are experienced in evaluating both, and can provide you with a competitive price on the spot. Walk in with a phone. Walk out with cash.

The Value of Apple Watches and iPhones

Smartwatches have grown in popularity. They have an impressive presence in the market, in part due to their brand recognition. If you have an Apple Watch or iPhone in great condition with accessories, you may be surprised at the appraised value. 

Original packaging improves the amount you receive. There are other factors that affect the amount you can receive from Cash Express for your Apple Watch or iPhone. Here are some things we evaluate.

• Age: While you might think an older version would be valuable, that’s not typically the case. It’s hard to get updates and replacement parts for these items. If it’s in mint condition with original accessories, you have a better chance at a good sale.

• Band: The newer the band looks, the better price you’ll get

• Buttons: Apple watches and iPhones have somewhat delicate buttons. They’re essential to using the watch effectively, including inspecting the condition of your screen.

• Charger: Without a charger, it's impossible to assess the phone correctly. If you have accessories that work, that improves the value.

• Cosmetic condition: It’s easier to sell a phone whose exterior is in good condition (no scratches or dents)

• Screen: Scratches and cracks significantly decrease the value. 

How to Prepare Apple Watch and iPhone for Pawn Shop

It’s essential to protect your personal data when you're ready to pawn your Apple Watch and iPhone. At Cash Express, we suggest following these steps.

iPhone

1. Sign out of iCloud. You will need to enter your Apple ID and password. This will allow the buyer to activate the phone. 

2. Go to Settings and back up your information on iCloud. This also backs up your Apple Watch.

3. Reset the phone. Go to Settings (General), Reset iPhone, Erase all Content and Settings.

4. Remove the SIM card

Apple Watch

1. Go to the Watch app and tap all watches

2. Unpair the Apple Watch (you may be asked for ID and password

3. Reset the watch. Go to Settings (General), Reset, Erase all Content and Settings.

For Both

1. Clean everything off thoroughly with a screen or a glasses cloth.

2. Take off any stickers, cases, or screen protectors

3. Put everything you have together, including boxes, cables, any accessories, the owner’s manual, and receipts (if you have them), 

Generally speaking, preparing the Apple Watch and iPhone for pawning in this way may lead to a better offer.

The Cash Express Difference

In providing fast cash to our customers, Cash Express is the number one pawn broker in Philadelphia, PA. Good quality watches and phones are two of the things we’re always on the lookout for. We’re happy to answer any questions you may have. You can reach us in three ways, besides visiting our store in person:

Our online contact form

Email us at info@pawnphiladephia.com, or 

Call our office at 215-922-1560

When you are looking for gifts but have a firm budget, Cash Express is a perfect shopping stop. Whether you want rings, musical instruments, electronics, or even antiques, we have a little bit of everything for everyone. This is just one of many reasons to shop for gifts at a pawn shop. 

5 Reasons to Shop for Gifts at a Pawn Shop

1. Green Living

Everyone is recycling these days. Rather than throw items out or go through the hassle of an auction site, people sell them to a pawnshop for fast cash. The store inspects each item, looking for the best condition. In some cases, such as with designer clothing, a piece may arrive with the tags still attached. When the product goes on sale, it’s pre-owned, priced right, repurposed, and ready for worry-free gift-giving. And because your purchase was never thrown out, you’ve helped reduce the carbon footprint, even in a small way. This is called upcycling.

2. Hours of Operation & Inventory

You’ll find that pawn shops are frequently open longer hours, some even being 24/7. So you won’t have as many constraints on your shopping times. Additionally, stores like Cash Express have an ever-changing inventory. You can look at our gallery or call us ahead of time to see if we have one or more options for you, based on your inquiry. When you come into the store, you may find unexpected treasures that you’d never thought of for gift-giving. 

3. Sell to Buy

Perhaps you find the perfect gift, but it’s a little out of your price range, even though it is pre-owned. Good news! You probably have one or two things sitting at home that you have no real use for anymore. You can come in and sell those or use them in trade to raise extra money for your purchase. What sort of things do we buy?

• Rare books

• Dinette sets

• Silverware

• Coins

• Antique furniture

• Designer handbags and clothes

• High-end watches

• Artwork

And much more. If you’re unsure, please feel free to call us at 215-922-1560 before visiting the store. We can tell you if what you have is what we are looking to buy.

4. The ability to negotiate

For as long as there has been the art of pawning, there’s also been haggling. This part of shopping for gifts at a pawn shop is fun. You can work toward a reduced price and walk away with a great bargain. Don’t be afraid to give it a try. You’re not insulting the seller. They expect this. 

There are a few essential tips for haggling. Be polite. This isn’t the time to get all puffed up. If you are buying more than one item, your chances of getting a bundled deal are greater than if you were buying just one piece. If you notice an imperfection, point it out as a reason for your offer. Finally, cash is king. Cash transactions have historically offered more final price flexibility than checks or credit cards.

5. Stolen Property Database Check, Visual Inspections, and Appraisals

Pre-owned, priced right goods are excellent, but not if you find out they’re stolen. It is the shopkeeper's responsibility to check the databases for reported items. Once they’ve determined there are no legal issues, the next step is a visual inspection to look for flaws and verify if the item works (if applicable).  Finally, an in-store appraiser reviews current market values for pricing. So, if you’re shopping for something valuable, you’ll walk out with an appraisal for your insurance. 

Cash Express Can Help

There are certainly more than 5 reasons to shop for gifts at a pawn shop, but these are some key points. 

We’d love to help you find that perfect treasure. You can email info@pawnphiladelphia.com, use our Online Form, or visit our store at 731 Chestnut St., Philadelphia, PA 19106

Sometimes life seems to go wrong for days, weeks, or even months at a time. It gets discouraging. Worry and anxiety ramp up. But you can go from desperation to opportunity. A pawnshop can turn things around quickly.

Stop and Look

What items do you have around your home that you haven’t used or even thought about in 6 months or more? Those are your golden nuggets for pawning. Make a list. Take pictures. Then contact a shop like Cash Express for help. We can get you cash far faster than any bank loan. 

How do Pawn Shops Work?

Basically, a shopkeeper looks at what you’ve brought in to sell or pawn. They consider the value. From here, things go one of two ways.

1. You sell the item outright. 

This is ideal if you don’t need or want it anymore. You come to a financial agreement with the owner about payment. 

They will check to see if  the item might be lost or stolen on Police Bulletins before finalizing anything. Don’t feel offended. It has to be done. In PA it is illegal to “receive, retain, or dispose” of stolen goods. This protects people coming to buy items, too. 

Once you’ve agreed upon an amount, you’ll sign off on a receipt and be given your cash. You’re ready to take that money and create opportunity. 

2. Pawn Loans: 

For this transaction, you will turn your item into the shop for a short term loan. That item is your collateral. Cash Express handles transactions like this every day to help people turn things around. 

The owner or staff will look over what you have. They may take one item, several, or everything, depending on what they need in their current inventory. This might seem odd at first since it’s only collateral. But, the store has to make money. If you default on your loan, the store can sell it, so value matters.

Do pawn shops ever say no to a loan? Yes, for specific reasons (keep these in mind when choosing what you want to pawn). 

1. It’s not an item the shop typically carries or has any detailed knowledge about. Some pawnshops specialize in specific types of inventory, like jewelry. That shop may want little else.

2. Problems with the item’s condition. If it’s damaged or broken, that figures into the potential resale price. In some cases, a piece may have no resale value at all.

3. Perishables. Taking on perishables is tricky as they pose health concerns.

4. Safety issues: A baby’s car seat that is not up to standards is an example of an item a pawn shop may not buy.

5. Being overstocked. If you bring in a handbag, and they already have 20, it's a harder sale unless there’s something special about it. 

About That Loan

Let’s say the shop will give you a loan. Don’t expect full retail price. The amount you’ll receive is between 24% and 60% based on end-term value. Nonetheless, that amount can ease desperation and give you an opportunity to dig out. 

The owner will outline the terms of your loan, including a specific repayment schedule (average 30 days). They will give you a receipt (ticket) for the item. DO NOT LOSE THIS. It serves as evidence of the loan and your personal item. 

Now, here’s the sticky part. Many things that have value also have sentimental connections. If you fail to pay on time, that item is now the store’s property. If you are uncertain about your ability to repay, avoid pawning such goods. Also, if you know you’ll be late, talk to the owner or staff. You may be able to get an extension. 

Come to Cash Express

Here, you don’t have to worry about having bad or no credit. Instead, we provide a quick cash answer to your current struggles. Reach out anytime. You can:

Use our online contact form 

Email us at info@pawnphiladephia.com, 

Call our office at 215-922-1560 or 

Visit our store in person: 731 Chestnut St., Philadelphia, PA 19106