GETTING THE BEST PRICE AT THE PAWN SHOP
Are you looking to get rid of a wedding band
after a bitter divorce? Or maybe you are going through some hard
times and need some cash. No matter what your end-goal is, do
your research before visiting the pawn shop to ensure you get
the best value for your item.
Obtain an appraisal
Prior to visiting a pawn shop, find out how much your item is
worth by getting an appraisal by an experienced expert. So, if
you are pawning your wedding band, visit a few jewelers. You may
even want to ask these jewelers if they would be willing to buy
the ring from you.
People sell everything on E-bay. Research to learn how much
comparable items are being auctioned for. You still may choose a
pawn shop for getting rid of your item, but E-bay will allow you
get a firm grasp as to what the market is.
Check out multiple pawn shop before settling on one
Don't engage in conversation the instant you walk through
the door. Check out the merchandise they are offering. See if
you can find items similar to what you are looking to pawn. So,
if you are looking to pawn your old wedding band, visit the
jewelry department and price out the rings they have on display.
This will help you get a solid understanding of the current
market. Once you communicate with a pawn show employee and
request a price, behave in a non-committal manner...regardless
if you are excited about the price being offered. Instead, say
'thank you' and exit the premises. Repeat the same course of
action with at least four additional pawn stores. Doing so will
allow you get some serious price comparison for your item.
Protect yourself and find out if the pawn shop you are thinking
about working with is reputable. You can visit the
Brokers Association and find out if their business is in
good standing. You don't want to go back to pay off your loan to
learn that the store has either gone out of business or 'lost'
your ring. Also, check out your state's BBB.
No harm in letting the lower offering pawn shops the higher
price you were offered. Sometimes you'll get low-balled off the
bat and if you have a high demand item, there will be room for
you to get more. It is very common for pawn shops to start low
in price and work up. They don't want to give you all the money
away off the bat.
of Pawn Shops
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