Pawn stores provide the perfect opportunity to get some quick cash in exchange for valuables. They’re becoming increasingly popular because they don’t care about the person’s credit score while lending a loan based on the item’s market value. However, they don’t provide a fixed amount for all items.
Here’s a list of 12 things pawn stores crave and are willing to pay higher.
Gold and Silver Jewellery
Pawn shops pay reasonably high for gold and silver jewelry, so consider keeping it as collateral or selling it outright for larger amounts. The amount you get is determined based on various factors, such as the jewelry’s purity, type, finish, quality, aesthetic appeal, etc. Typically, you can expect to receive 50% of the gold’s scrap amount, but the pricing principles may vary from one pawn store to another.
Luxury Watches
You can secure huge loans from pawn stores if you have luxury watches from brands like Rolex, Omega, Patek Philippe, Cartier, etc. They’re always looking for luxury watches because they’re easier to sell. The offered amount may vary from store to store, but they’re typically determined by factors such as the product’s brand, model, age, market demand, original packaging boxes, etc.
Gaming Systems or Consoles
Different pawn stores accept various gaming systems or consoles, so search for stores willing to pay higher for your possessions. They generally price the consoles depending on whether you have vintage or modern gaming systems or consoles. The item’s condition, demand, and functionality also influence the price. Some stores may pay 1/5th of the item’s current market value, but it may vary. Regardless of the item you plan to pawn, try negotiating with the store owner for a good deal.
Designer Handbags
Pawn stores easily accept designer handbags in good condition. Designer handbags from brands like Gucci, Hermès, Louis Vuitton, Fendi, Celine, Prada, Givenchy, etc., are typically in high demand and may fetch you a good amount. Most pawn stores determine the handbag’s market value before making an offer, and it is a percentage of the determined market value. You can negotiate for a higher valuation if you have a designer handbag that is high in demand, in good condition, and complete.
Musical Instruments
Musical instruments are easier to pawn for good value because of their resale potential. However, the amount you receive will depend on the type of musical instrument you pawn. For example, you may get approximately 50% of the guitar’s market value if it’s acoustic, whereas electric guitars can fetch you 30% to 40% of the value. The maximum you can get for musical instruments is 55% to 75% of their face value after negotiation, provided the instrument is in good condition, branded, and fully functional.
Power Tools
DIY enthusiasts often turn to pawn stores to buy reasonably priced power tools, so most stores crave products in this category. You can pawn your power tools for good money if they’re in good condition, high in demand, and belong to a trusted brand. While the offered amount depends on multiple factors and varies depending on the store, you may expect to receive $15-$225 for power drills, $25-$550 for tool sets, and $25-$325 for circular saws.
Collectible Coins and Currencies
Some pawn stores are willing to pay more for valuable collectible coins and currencies. You may receive good value if you have collectible coins, such as pre-federal issue coins, bullion coins in 1ozt, Templeton Reid, etc. The amount you receive is determined based on the coin’s metal composition, age, origin, and rarity, so research before approaching pawn stores. Few stores may also lower the price by offering 40% of melt for silver and 50% of melt for gold, so be ready for negotiations.
Antique Furniture
Pawn store owners highly desire well-preserved antique furniture for their uniqueness, history, and craftsmanship. These products are particularly in demand by collectors and interior designers, and they’re willing to pay a premium to pawn stores. Hence, you may expect to receive a higher offer from some store owners. Most stores pay you between 25% to 60% of the item’s resale value, so negotiate wisely to grab higher monetary value.
Bikes
One of the highest value fetchers at pawn stores is well-maintained bikes. Since biking is extremely popular, bikes carry excellent resale value. The price you’re quoted will vary based on your bike type, its condition, brand, aesthetic appeal, etc. However, you may expect to receive $100-$300 for a road bike, $20-$50 for a BMX bike, and $200-$450 for a mountain bike. These are approximate estimates, so you can push for a higher amount, as all pawn stores are open to negotiation.
Vintage Clothing
You can approach pawn stores for quick cash if you have high-end vintage clothing. Whether you own a gorgeous fur jacket or branded party dress, they can be sold or pawned for a decent amount. Pawn brokers will evaluate the clothing’s condition, brand, quality, fashion relevance, etc., before making an offer. According to their thumb rule, they may offer 20% or one-third of the item’s resale value. Some may provide higher, like 25% to 75%, so explore numerous pawn stores to grab the highest offer.
Smartphones
Smartphones with a high resale value can be easily pawned for a reasonable amount. However, the offer will be determined based on the smartphone you own, its model, brand, condition, etc. If you own an iPhone, you may receive a loan of up to 30%-60% of its full resale value. You can fetch a higher amount if you go prepared with the phone’s original box, accessories, and authentication certificate.
Registered Firearms
There are various pawn stores that offer quick cash and easy loans for registered firearms. They typically accept rifles, pistols, revolvers, derringers, shotguns, etc., provided they’re legal firearms. You should approach licensed firearms dealers authorized to buy, sell, and pawn firearms for convenience. Pawn brokers evaluate your firearm at their store before deciding its resale value and making an offer. Consider getting estimates from numerous pawn stores and negotiate efficiently to get a good offer.
