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7 Tips For Selling Items to a Pawn Shop

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Tips for Selling Items to a Pawn Shop

A Pawn shop can be a great way to get quick cash for your stuff. Whether its jewelry, old records, art, sprorts memorobilia, etc, pawn shops can typically cash you out on the spot. The trouble though is as a seller you are at a complete disadvantage. There are however some tips you can use to tilt the in your favor and negotiate a higher price.

Understand Demand

A pawn shop doesn’t want items that will sit on the shelf. They are looking to buy things that will sell quick. While you may be thinking of coming back for the item later, the pawn shop needs to consider the items ability to sell.

There are many pawn shops that will turn down your items. A pawn shop will turn down items that are in poor condition, have no market demand, or are just to hard to sell like a large piano.

The best things to bring to a pawn shop are gold and sterling silver. Knowing what to bring and when to bring it will help you drive a better deal.

Here are some of the best items to pawn:

Presentation Matters

If you are looking to sell jewelry then you need to clean it up first. Consider polishing it or using baking soda. Mix baking soda and water to form a paste. Scrub the jewelry gently with your fingers to remove tarnish. If you have an item like a musical instrument, don’t bring it in all dusty.

When it comes to selling anything looks matter.

If You Act Desperate, You’ve Lost Already

A pawn shop thrives on desperation. People go there because they are in immediate need of money. The more desperate you are for cash, the less leverage you have to negotiate.

You don’t need to dress fancy or talk like a pro. Dress nice though and be casually confident. The story you want to tell them is that you are selling it because you have no more use for it. It is not because you need money.

Prepare to Negotiate

A pawn shop is a reseller. Thier prime objective is to get the items from you at the absolute lowest cost. They will never make an offer even close to what an item is actually worth. Items like jewelry may be soley based on the weight of the precious metal it is made out of. It is your job to negotiate up. Be ready to price haggle.

To negotiate effectively you need to know what your item is actually worth. If you can get an appraisal beforehand or do some market research you will be in a better position to negotiate. For example you can get jewelry appraised or look up similar items used on Ebay and see what they sell for.

Do not tell the pawn shop what its worth or how much you think its worth. Get them to make the initial offer. Typically the one who makes the first offer loses a negotiation.

Don’t Be Afraid To Leave Without a Sale

You are the one with the item, so you hold all the cards. If you don’t get a reasonable offer or you can’t negotiate up, walk out and try another pawn shop.

Know Your Lowest Price

Figure out how much is the absolute lowest amount of money you are willing to take. Knowing your number will help you from getting ripped off and feeling like you’ve been taken advantage of. You should also not tell the pawn broker what your lowest number is. They will then use that number to haggle you down. Its better for you to haggle up from their offer.

Shop Around to Different Pawn Shops

If you have more then one in your area consider stopping by a few. Trying to find your best deal is to your advantage. If you live in an area with different pawn shops, they compete with each other for business. You can use that to your advantage to get the price you want for your items.

Also think outside of pawn shops. Do you have jewelry you need to sell, try a jeweler who buys jewelery you can get more for it there then a pawn shop. Same thing with a musical instrument, find a music store who buys instruments. Outside of the pawn business, you will find much better offers.

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