Many people rely on pawn shops for quick cash. However, it’s important to know what items pawn shops pay most for before you sell or pawn something.
Things like smart watches, jewelry, old coins, and art pieces can all fetch a decent amount of money. Likewise, certain tools pawn shops Perth or vehicles might be worth more than others.
1. Jewelry
Pawn shops can be an alternative way to get cash when you’re in a pinch. Unlike banks, they don’t check your credit and you don’t risk losing your possessions if you fail to pay back your loan.
Jewelry and precious metals are some of the items pawn shops pay the most for, according to Pawn Nerd. Diamonds and gold are especially popular with pawnshops since they retain their value over time and can be resold easily.
Fashion trends may come and go, but high-end jewelry like designer watches and rare coins are forever. Pawnbrokers often offer more for these types of items because they know that buyers will be willing to pay a premium for them.
Electronics are another item pawnshops pay well for, but condition is important. Only pristine flat panel televisions sell quickly in most stores, and you’re likely to find better deals on online classifieds or at an auction. Gold exchanges are usually a better option for those looking to sell precious metals like gold rings or pendants because they pay upfront.
2. Electronics
Despite what media has made pawn shops out to be, they are a legitimate business that follows strict governmental regulations. They do their best to only pawn items that have high value and are easy to sell should someone fail to return them. This is why they are often interested in items like smart speakers, Air Pods, or gaming laptops that may have a good resale value. Other electronics such as TVs and sound systems can also fetch a decent amount of money. Art pieces, rare collectibles and musical instruments are other popular items to pawn because they have a lot of potential to sell.
If you have an old DJ setup or a laptop that’s just gathering dust in your closet, bring it to the pawn shop. These items can fetch a significant amount of cash because they’re in demand and relatively simple to sell. Just make sure the item is in working condition before you take it to the shop. It’s important to do your research beforehand and check online for prices on sites such as WorthPoint.
3. Musical Instruments
Musical instruments are one of the items pawn shops pay the most for. They are a popular item that sells quickly, which is why pawn shops will give you the most money for them. This is especially true if they’re in good condition. If your instrument has been sitting in a closet collecting dust for years, it’s probably time to bring it in and get it repaired or tuned up. This will increase its value.
Musical instruments are also often used as collateral for a loan. This means that if you don’t make the repayment, your pawn shop will keep the instrument and try to sell it to recoup the lost revenue. If you have any valuable musical instruments lying around, take the time to research them and learn their value before bringing them in to a pawn shop. Then you’ll be prepared to negotiate a fair price for them. You can use auction sites to do this, such as eBay. The auction site LiveAuctioneers also has a database of past sales that you can use to compare prices.
4. Tools
Tools are a common item that people bring to pawn shops. Many power tools like drills, circular saws, and nail guns have a high value and are often sold quickly for cash. Power tools and other hand tools can also be used as collateral for a loan.
As with other items, the brand of your tool will impact its price. Popular brands like Milwaukee, DeWalt, and Bosch will fetch a higher price than less popular brands. The condition of your tool will also impact the value. It should be in good working order and free of any scratches, chips or dents.
Musical instruments are a staple of any music shop, but they’re also one of the items pawn shops pay the most for. They’re very expensive to buy new, so pawn shops have a steady stream of customers who are looking to purchase them at a cheaper rate. Guitars, both electric and acoustic, are among the most sought-after instruments at pawn shops. Brass instruments like trumpets and trombones also sell well. They’re not as expensive as some of the other instruments mentioned above, but they can still be a great deal for buyers who are on a budget.
5. Cars
If you have a vehicle that is in good working condition, you may be able to get a decent amount of cash for it at the pawn shop. Not all pawn shops accept cars, but those that do typically offer a fair price for late model vehicles in excellent condition with low mileage.
Jewelry is another popular item local gold shop at pawn shops. It can fetch a high price, especially for rare or collectable items. Watches also do well, with higher-end brands like Rolex fetching thousands of dollars at pawnshops and auction houses.
Conclusion
Pawn shops can be a great resource when you need money for unforeseen expenses, such as a broken down car or medical bills. Just make sure to bring all the necessary documents, including proof of income and employment, to qualify for a loan. If you can’t pay back the loan within 30 days, the pawn shop will keep your item. It’s important to find the right pawn shop that specializes in your type of item so you can get the best deal. If you don’t, you could end up losing valuable items.
