Tips to Get the Best Price for Your Items at a Pawn Shop
The Best Things to Pawn to Get Higher Payouts
Pawn shops are a secure and convenient way to make money on your belongings. However, there is an art to effective pawn shop dealings. Pleasant Hill Coin & Jewelry Exchange is here to share little-known secrets about the best things to pawn to secure higher payouts.
How Pawn Shop Sales Work
Before understanding the best things to pawn and how to turn a decent profit, you need to understand the process of selling to a pawn shop. While this process may vary from one business to the next, it typically includes the following:
- Bring in an item
- Receive an evaluation
- Agree to a price
- Retrieve payout
Items Accepted by Pawn Shops
Certain pawn shops are pickier than others regarding the type of valuables they are willing to purchase from customers. However, some of the most commonly pawned items accepted across the industry include:
- Gold jewelry
- Rare coins
- Diamonds
- Gold and precious metals
- Designer handbags
- High-end watches
What Are the Best Things to Pawn?
Put simply, items that are not only valuable but also projected to preserve their worth are the best things to pawn. Pawn shops look for items they know will attract potential buyers. For this reason, jewelry, precious metals, diamonds, designer bags, and other authentic pieces typically make for higher-priced experiences.
Why Do Pawn Shops Low Ball How do pawnshops price: Understanding Evaluations
Pawn shops sometimes have a reputation for low-balling. However, this myth comes from a lack of understanding the secondhand market. Pawn shops employ a meticulous evaluation process to evaluate the item’s condition and resale value. The end user is not going to pay retail price for something secondhand. We are experts in understanding how much we can sell things for. Do yourself a favor and take a look at how much the pawnshop is selling their jewelry for if you really want to understand why they can’t pay you what you bought it for.
How to Get the Best Price for Your Belongings
Now that you know the best items to pawn and what to expect from the process, let’s move on to maximizing your payout. To avoid mediocre offers and discouragement, Pleasant Hill Coin & Jewelry Exchange is here to share effective strategies for securing the best price for your belongings.
Do Your Research
To accept a fair deal, you have to know what you are selling. That’s why it’s always a good idea to prioritize independent research prior to visiting a pawn shop. We recommend looking up the value of your item and browsing the resale price of similar items to gain a realistic understanding of the current market. Keep in mind you are seeing the price that the end user is going to pay.
Commit to an Outright Sale
Most pawn shops offer two options: collateral loans and outright sales. In most some cases, outright sales yield higher payouts. Pawnbrokers want you to be able to keep ownership of your item and at Pleasant Hill Coin & Jewelry Exchange, we have an 87% redemption rate on loans. prefer this approach as it streamlines money into their pockets by allowing them to sell the item without the wait times of collateral loan repayment.
Bring Authenticity Documentation
Knock-off designer handbags, jewelry, and luxury watches are common, and many are nearly identical to the real thing. Without supporting documentation, pawn shops may be reluctant to purchase these items or offer lower prices as they are incredibly challenging to sell to discerning buyers. To avoid these issues, bring documentation to support the authenticity of your item.
Give Your Items a Refresh
If your item is valuable but has been sitting in a box in the attic, it’s probably not looking its best. To impress your pawnbroker and achieve a higher sale offer, take the time to refresh your item. This may include polishing jewelry, replacing batteries in a watch, or dry-cleaning a designer purse.
Provide Original Packaging, Accessories, or Paperwork Box and Papers on Watches
If you’re still hanging on to the original packaging for your watch, please bring them with you. It may help drive up the price we are willing to pay.
Brush Up on Your Negotiation Skills
Unlike standard retailers, pawnbrokers are open to reasonable negotiations. Always allow the pawnbroker to speak first and provide an offer. However, while maintaining realistic expectations, do not hold back if you feel the offer is too low. Polite interactions and evidence-based negotiations tend to yield positive experiences and more lucrative sales results.
Contact Pleasant Hill Coin & Jewelry Exchange for the Best Prices
Now that you’re familiar with the ins and outs of maximizing your pawn shop experience, it’s time to put your knowledge to the test. Discover the best price for your items with Pleasant Hill Coin & Jewelry Exchange. To learn more or get started, contact us today.