3 Newbie Tips For Selling To Pawn Shops

Before you try your hand at selling an item to a pawn shop for the first time, make sure that you read these newbie tips to you are prepared and know what to expect. 

#1 Know What Your Items Are Worth

The first thing you need to do is make sure that you know what you are bringing into the pawn shop. You need to know the value of the item that you have possession of before you walk into the pawn shop. Research the items and find out what it is generally worth. Look at popular online resale sites to find out what the going rate is for the items that you want to pawn.

If you have an item such as a piece of jewelry, art, or an antique, you should get it appraised before you go to the pawn shop. This will give you a solid idea of what your item is worth. Be sure that you use a certified appraiser who can provide you with a written estimate. 

Knowing what your item is worth will help you know if you are being offered a fair value by the pawn shop. Keep in mind that the pawn shop is going to make an offer below the most common retail value because they are trying to make money on this transaction as well. 

#2 Keep Additional Information To Yourself

When you go into the pawn shop and try to sell them items, remember that you are entering into a negotiation. You don't want to show them your entire hand. 

To start with, you don't need to tell the pawn shop how much you paid for the item. If they ask, you are completely within your rights to refuse to tell them how much you paid for it. By telling them how much you paid for it, you are showing your hand. The pawn shop may use that information to low-ball you, or they may use that information to offer you a fair price. Generally, if you got the item for a great deal you should keep that information to yourself. 

It is the pawn shops job to determine how much they should pay you for your items. It is their job to determine the value of the items you are trying to sell. Letting the pawn job figure out how much the item is worth is generally advantageous to you. 

#3 Don't Feel Locked In To The Deal

Finally, it is important that you not feel locked into the deal just because the pawn shop workers spend time looking into your items and negotiating with you. If you do not feel like they are offering you a fair value for your items, it is perfectly within your rights to walk away.

Before you go into a pawn shop for the first time to resell some items, make sure you know what the items are worth and at what price you are willing to part with them. You don't have to give away any additional information about the items, such as what you paid for them, if you don't want to. Finally, remember you are not locked into selling your items just because you brought your items into the pawn shop.