Best Pawn Shops Near Me (2024)

FAQs

What's the most a pawn shop will pay? ›

Most pawn shops offer loan amounts of 25% to 60% of your collateral's value.

If you decide to pawn an item, you'll likely receive less cash than what it's worth. Selling, however, typically means you'll receive a higher amount of money. Keep in mind, though, that even if you receive less cash to pawn an item, you'll be given that item back as soon as you repay the loan.

If you want to get the most amount of cash, focus on jewelry with gold, diamonds, or platinum. And don't think that jewelry must be in perfect condition. Most pawn shops will take broken pieces as they still have value.

In general, you can expect to receive about half of your item's market value in your loan. However, this depends on the item. Items that are regularly pawned, yet don't have a lot of buyers will lower the offer price. In those cases, you will receive less than 50% of the market value.

Another benefit of selling something to a pawn shop instead of getting a pawn loan is that you typically receive more money for the item. The pawn shop will determine the value and make you a slightly lower offer. After all, it still needs to sell it to make a profit.

DON'T: Do not point out flaws in an item you want to purchase. This is just rude to the pawnbroker who spends their time assessing the value of the item and has years of experience doing it. Do you think you're better at pricing secondhand items than them? Perhaps not.

You are most likely to get the best value for the item you want to exchange at a buy-sell-trade store — rather than accepting a high-rate loan that doesn't match your item in value, you'll receive a fair and honest amount of money or the equivalent value in store credit.

ü Art pieces, old coins, rare collectibles, and musical instruments: Used good-quality collectibles, art pieces, musical instruments, or old coils can be pawned for a good amount of money. The pawn amount will depend on the rarity and value of the item.

You asked about Sales, which means the Pawn Shop bought the item outright (as opposed to a loan.) In that case, on average, a Pawn Shop will try to make 50-100% on their money when they sell the item. That means they try to buy items for 33-50% less than what they think the resale price is.

Who is the richest pawn? ›

With a $16 Million net worth, Rick Harrison is the richest member of Pawn Stars.

Since pawn shops typically offer somewhere between 25% and 60% of an item's resale value, you'll need to pawn an item worth between $835 and $2,000 to get $500. As mentioned above, to make the most, it's best to sell items like: Gold jewelry. High-end TVs.

High-quality materials, such as gold, platinum, and precious gemstones, not only retain their value but may also appreciate over time, making for a solid long-term investment.

Pawning or selling is a personal choice. It boils down to two options: wanting to get items back or not wanting them back. If customers want their items back, then pawning is the best option. But if they want to get rid of their items, selling is the better choice.

It depends on the condition and the pawn shop, but generally, you can expect around $300-$500 for a PS5.

It really depends on the pawn shop, but typically you can expect anywhere from $100 to $200 for a PS4, assuming it's in good condition and comes with all the cables and a controller. Win official PlayStation gift cards by playing games on Playbite!

Earning interest on loans and profits on retail sales are the principal income sources for the standard business model for a pawnshop. Pawnshopsg typically aim to generate overall net profit margins of at least 15% to 25%.

These unique sketches, never sold as reproductions, were estimated by an art expert to be worth $310,000. After negotiation, Rick secured the purchase for $250,000, making it the most expensive item ever bought on Pawn Stars.