Pawn shops pay the most for high-value items like jewelry, watches, precious metals, antiques, and quality items. But it’s best to sell these types of specialty items to buyers who specialize in them. Pawn shops buy items at very low prices to resell at a profit, typically offering between 7-35% of an item’s original retail price.
Negotiating with Pawn Shops
Don’t expect to get full value for popular items like electronics, tools, and sporting goods at pawn shops. Do some research online to see what prices similar items have sold for and then shop around at several pawn shops to negotiate the best price. Understand that pawn shops aim to pay about half of an item’s resale value.
Pawn Loans and Re-Sale
When you pawn an item, the broker provides a loan worth a percentage of the item’s value, holding onto it as collateral. If you fail to repay it in time, they can sell the item.
Pricing Factors
- Location: Shops in larger cities generally pay more than those in small towns.
- Specialization: Stores specializing in certain items, like musical instruments, may offer more for those specific items.