It’s safe to say that pawn shops are highly underrated. But, the truth is that pawn shops are legitimized businesses that offer services that might not be provided by traditional banks. From assuming title loans to selling off your items at the best prices, pawn shops can be a great way to purchase exotic collectibles and other precious items.
However, when it comes to getting the right deal for your item, there are a few things you must keep in mind. Read on to explore the top tips that can help you get the best quote at a pawn shop.
Sell It Right Away
When you go to a pawn shop or a diamond pawn shop to pawn your item, you usually get two choices. The first is to sell the item right away, while the other option is to keep it as collateral and take a loan.
If you want the best offer for your item, it’s best to go with the first option. If you sell your item right away, the pawn shop wouldn’t be required to hold that item until you pay the loan. This would mean they would be willing to offer you the best quote.
Conduct Research
To get an idea of how much you should expect at a pawn shop, it is often recommended to find out how much your item is actually worth it. For this, you can browse the internet to get a fair estimate of the worth.
You can also visit websites like eBay to find out how much your used item is worth.
Bring Documentation
If you want to pawn your precious metals like diamond rings or necklaces, make sure to bring all the required documentation, like a certificate of purity, to the pawn shop. This will validate the worth of your item. Moreover, if you want to get the best price, you can also visit a jewelry shop and get an appraisal certificate to show it at your pawn shop.
Lastly, if you want to sell a collector’s item like novels or wristwatches, it is best to bring the accompanying certificate to get the best price.
Shop Around
Remember: there is not just one pawn shop around you. If you can not get a good quote at your local pawn shop, shop around at different pawn shops for the best quote.
Moreover, if you want the best price for your item, you can visit online pawn shops and get a free quote.
Negotiate
We get it; negotiating for a deal can be quite intimidating. Moreover, the pawn shop owner might seem more experienced than cracking the deal and making profits.
However, you must take the stand and negotiate for the best price possible. If you are asked how much you are expecting, try not to give a number straight away. Rather, ask the owner how much they are willing to give for your item.
Also, remember that you are under no constraints to accept the offer. If you don’t get the right quote at your local shop, look for another shop, or search for an online pawn shop.
Clean The Item
An item that looks good, and sells well. So, to ensure that you get the best deal, make sure to clean it up. If it’s a diamond ring you are pawning on, make sure to get rid of that thick layer of dust. In short, make it sparkle to attract the best quote.
In A Nutshell
To get the right price for your item, it is wise to prefer selling it outright rather than taking over a pawn title loan. Also, research well and compare different quotes to decide on the best. Lastly, remember to understand the working behind the pawn shop so you can negotiate right and get the best deal possible.