Thanks to TV shows like "Pawn Stars "pawn shops have made a come-back over the past few years. The pawn industry dates back to more than 3000 years. Today pawn shops operate as mini-banks for millions of South Africans and also serve as a place where people can buy and sell a wide range of items.
Today we're going to look at the retail aspect of pawnshops. What you can sell to pawnshops, how to sell to them as well as give you a few pointers to get the best bang for your buck.
What to sell to a pawnshop
There are very few things that a pawn shop won't accept, but as each shop is different it is up to the manager's discretion to decide if they want to buy it or not.
Pawnshops will always buy:
- Jewellery – including watches, coins, and precious metals.
- Electronics
- Phones, computers, laptops, and tablets
- Sports and gym equipment
- Tools
- Gaming consoles and games
- Musical instruments
Pawnbrokers are always attracted to antiques and items of age. If you have some old items lying around such as collectibles and coins, this is definitely something you would want to take into a pawn shop. Electronics and musical instruments are also hot sellers for pawnshops.
Provided they are in good condition and not too old, you'll always get good cash for your unwanted electronics and musical instruments.
How to sell to a pawnshop
Finding the right pawnshop
Once you have decided that you want to sell an item to a pawn shop do some online research about a few of the local pawnshops. See what reputation they hold as well as what others are saying about them online. This will give you a great idea of whether or not you want to do business with them.
Also, be aware that some pawn shops specialize in certain items, so if you an antique jewelry piece you are wanting to sell, make sure you choose a pawnshop that has experience buying and selling antique jewelry. Be sure to choose a pawnshop with a great reputation and one you feel comfortable with.
Always negotiate
Remember that pawnshops are re-sellers, not collectors. Know what is the minimum you will accept for your item so that you don't make an impulse decision you will regret later.
Go in with proof of your claims
Be prepared to prove the worth of the items you take in to sell. Take in things like appraisal letters to show the value of your item.
Clean up your items
Before you take your items into a pawn shop make sure they are in the best condition possible. The items will always sell for more if they look good. Take time to clean up, wipe down or even repair any items you intend to sell.
If you are selling personal items like laptops or phones remember to wipe off all personal information and reset it back to factory settings. Selling unwanted items to a pawn shop is a great way to make some extra cash as well as get rid of a few things lying around your house. To get a good deal you need to be knowledgeable about the items you are selling as well as how pawn shops work.
