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Saturday, April 20 2019
How Do Pawn Shops Determine Value?

When you decide to pawn an item for some quick cash, it helps to know what to expect in terms of a return. One item may go for slightly different prices depending on your area and what is in demand, but there are a couple of standard ways to understand how pawn shops determine value. The main thing to remember is that sentimental value does not mean cash value, depending on the item. However, if you are a repeat customer or the heirloom quality is obvious, your pawnbroker has the flexibility to factor that into the worth of the item. No matter what, do not expect to get full retail value for anything you bring in, because the worth depends on so many things besides initial market value. That doesn’t mean that it isn’t worth bringing your items in — your local pawn shop is always ready to help you out in a pinch!

The first thing a pawnbroker is going to check is the quality of your item. You are obviously not going to get as much money for an item showing a lot of wear and tear than an item that is in pristine condition. Another aspect up for consideration is the probability of selling your item. If you have scuba diving gear in the middle of Kansas, there’s a good chance that most people are not going to be interested in buying it.

 

Also, consider whether your item is outdated or will be quickly. Although electronics are always a welcome item in a pawn shop, they can quickly become outdated depending on what it is. Computers, tablets, and phones can be a gamble since they are updated frequently. DVD/Blu-ray players and video game consoles are more consistent as most can usually run several generations of technology. 

Will you be retrieving your item after pawning it? That is done thing that pawnbrokers have to take into consideration for resale value. Explaining the background of your item will help to determine that. Also, pawnbrokers will check several databases to determine the value of the item you are wanting to pawn and what they can give to you in return. One helpful resource is eBay, and it can be helpful to check this website for similar items before you take your pieces in to the store so you have an idea of the outcome and whether it is worth it for the both of you. Pawnbrokers rely on several other sources besides eBay, including other internet sites, guidebooks, and their own personal experience. 

Because pawnbrokers have specific expertise, some may be extremely familiar with the sales of gold and silver while others may know more about electronics, guns, or gemstones. If you know that your item fits a certain niche that is in demand, search for a pawnbroker with a good knowledge of your item so you can make sure to get the best value and information.

Posted by: AT 08:00 am   |  Permalink   |  Email

Cash Express  • Philadelphia Pawn Shop

731 Chestnut St. Philadelphia, PA 19106 -  (215) 922-1560