What will a Pawn shop offer me?
Advantages to pawning
Here’s the deal, Fast cash. You can walk in with merchandise and walk out with cash in literally minutes. There may be some negotiating but bottom line it’s FAST.
The Best Part of Pawning vs. Selling
We appreciate you work hard for the items you own. For this reason, we always prefer making a pawn rather than buying outright. A pawn allows the option to purchase back your merchandise when your money situation is better.
The big question
What will a pawn shop offer me? Bottom line, until we physically see the product, find the make, model, the actual condition, test it, ask some questions on intent, there’s no possible way to give a blanket amount or even a fixed percentage. Also keep in mind that different types of items bring a larger comparative percentage of used retail value.
What is considered when appraising
There is such a large and subjective idea on what an item is worth. Furthermore, what a pawn shop offers is based on an amount that encourages the pawner to come back later and redeem. It’s an amount that carefully balances the customer’s question of “should I pick it up or should I just leave it”. If we offer too much the pawner simply leaves it figuring it can be replaced later for just a small amount more.
Things the average person neglects to understand about pawning
The amount of work involved in dealing with used merchandise
There’s a lot that’s involved in the retail used business, especially for pawn shops. For pawns there’s an appraisal process for each and every item that customers pawn. This process includes researching, testing, and evaluating projected value over the time of the pawn. Once the amount is calculated a highly regulated amount of paperwork is processed. This paperwork includes reporting any and all pawned items with law enforcement, which includes local, state or federal agencies. Afterwards, the pawned items are safely and securely stored on premises until either pawner redeems or defaults on the contract.
If a pawn is defaulted on
If a pawn contract is defaulted on then the pawned merchandise has to be sold. This process also becomes labor intensive. The items then must be re-tested, cleaned, priced then put up for sale.
All these factors and also the normal cost of running a pawn business go into what a pawn shop will offer.
Pawning is a great avenue for immediate cash.